Last updated on April 19, 2014 at 7:35 EDT

Pain Management Therapeutics Market is Expected to Decline to USD 29.47 Billion Globally by 2018: Transparency Market Research

July 31, 2013

ALBANY, New York, July 31, 2013 /PRNewswire/ –

According to a new market report published by Transparency Market Research
(http://www.transparencymarketresearch.com) “Pain Management Therapeutics Market-
Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018,” in 2011,
the global pain management therapeutics market was valued at USD 40.93 billion and is
expected to decline at a CAGR of (5.5%) from 2012 to 2018, to reach an estimated value of
USD 29.47 billion in 2018.

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The global pain management therapeutics market is expected to experience a decline in
revenues at a CAGR of (5.5%) during the forecast period, mainly due to patent expirations
of the leading branded drugs. Although the global incidence rates of cancer, diabetes and
other debilitating diseases that cause various chronic pain conditions is on a rise, the
decline in market revenue is inevitable due to generic incursion for the top pain
management drugs. Moreover, lack of a strong pipeline of novel or combination drugs that
could help restore the positive growth of the overall market is also expected to
contribute to the overall decline in the global pain management therapeutics market.

Administration of analgesics is the first line of treatment for the management of
acute as well as chronic pain conditions. Some of the factors driving the growth of this
market include the favorable regulatory and healthcare reforms such as the U.S. Patient
Protection and Affordable Care Act of 2010. Also, the economic and effective nature of
treatment with therapeutics compared to other modes, such as neurostimulation devices and
acupuncture, will continue to fuel the uptake of drugs in pain management.

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The market for non-steroidal anti-inflammatory drugs (NSAIDs) accounted for the
largest share by revenue in 2011, of the total pain management therapeutics market by
therapeutic class. This class comprises of some of the oldest known painkillers such as
diclofenac, ibuprofen and Aspirin (acetylsalicylic acid) which are now commonly available
as over-the-counter (OTC) medications, globally. However, the patent expiry of Celebrex
(celecoxib) in 2013 is expected to negatively impact the market with a decline in revenues
post patent expiry. The class of other non-narcotic analgesics consists of acetaminophen,
sold as OTC drugs in the names of Tylenol, Panadol and Excedrin, and is expected to record
the highest CAGR of 3.1% during the forecast period. Increase in the uptake of OTC drugs
across the globe to overcome common pain conditions such as headache and body ache, will
be responsible for this growth. The loss of patent exclusivity of other key brands such as
Cymbalta (duloxetine), OxyContin (oxycodone) and Lidoderm (lidocaine) scheduled in the
year 2013 will have a profound impact on the growth of the overall market.

North America was the largest regional market by revenue in 2011, due to the presence
of one or more branded drugs belonging to each therapeutic class. However, the region is
expected to record the lowest CAGR due to the looming patent expiries of these brands.

The market for generic formulations accounted for a larger share of the overall pain
management therapeutics market in 2011, as against branded formulations. The market for
branded pharmaceuticals was highly fragmented in 2011, with Pfizer, Inc., Purdue Pharma LP
and Eli Lilly & Co. contributing to over 80% of the total market revenue. Other important
players in this market include Endo Health Solutions, AstraZeneca PLC, Johnson & Johnson,
and Merck & Co., Inc.

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The pain management therapeutics market is segmented as follows:

Pain Management Therapeutics Market, by Therapeutic Class

        - Anticonvulsants
        - Antidepressants
        - Anesthetics
        - NSAIDs
        - Opioids
        - Other Non-Narcotic Analgesics (Acetaminophen)
        - Anti-Migraine Agents

Pain Management Therapeutics Market, by Indication

        - Neuropathic Pain
        - Fibromyalgia
        - Arthritic Pain, by Type
             - Osteoarthritis
             - Rheumatoid Arthritis
        - Chronic Back Pain
        - Migraine
        - Post-operative Pain
        - Cancer Pain

Pain Management Therapeutics Market, by Geography

        - North America
        - Europe
        - Asia-Pacific
        - Rest of the World (RoW)

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