GBI Research: The Future of Pain Management Therapeutics, Analysis and Market Forecasts to 2016

April 9, 2010 - PRLog -- It provides in-depth analysis of unmet needs, drivers and barriers that impact the global pain management therapeutics market. The report analyzes the markets for pain management in the US, the top five countries in Europe (the UK, Germany, France, Italy and Spain) and Japan. Treatment usage patterns, sales, price and volume are forecast until 2016 for the key geographies as well as the leading therapeutic segments. Further, the report provides competitive benchmarking for the leading companies and analyzes the mergers, acquisitions and licensing agreements that shape the global markets.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

The Global Pain Management Market Is Forecast to Grow Moderately, As Generic Share Continues to Rise

In 2009, the global pain management market was approximately $18.3 billion, representing a compound annual growth rate (CAGR) of 5.3% between 2001 and 2009. By 2016, the global pain management market is estimated to reach $22.6 billion, indicating a CAGR of 3% between 2009 and 2016. The major reason behind the decline in the growth rate is the decline in the annual cost of treating pain in different indications during 2009-2016.
The global pain management market is expected to witness a series of patent expiries between 2009 and 2016, which includes some top selling drugs such as Cymbalta (duloxetine HCl), Lyrica pregabalin) and Celebrex (celecoxib). These drugs together, account for approximately 45% of the market. Other drugs that will lose patent protection are Maxalt (rizatriptan benzoate), Zomig (zolmitriptan), Axert (almotriptan malate), Amerge (Naratriptan) and Quadramet (samarium SM 153 lexidronam), among others. While the current pain management market has a healthy pipeline and prospects for growth in the future, these factors will not be able to completely offset the challenge from generic competition. Therefore while the pipeline ensures a potential for attractive growth in the long term, the market will grow only at a moderate CAGR of 3% during the period 2009-2016.

Unmet Need for Better Management of Pain and Potential for Future Growth is Driving Companies to Invest in Research and Development

The research and development (R&D) pipeline for pain management is moderately healthy due to the presence of about 400 programs. These programs study drug candidates for the treatment of neuropathic pain and pain associated with fibromyalgia, cancer, migraine and osteoarthritis. However, the products in the pipeline do not look promising and may not provide better efficacy and safety levels compared to the drugs currently in the market. The pipeline is mix of first-in-class and me-too products. The success of the first-in-class products will determine the future prospects for the industry. The high R&D activity indicates that the pain management market has potential for growth.
The market has large diseased population which is under-served. The treatment seeking behavior is poor at less than 50% of the total diseased patients. The treatment seeking rate is expected to increase only marginally compared to historic growth. Therefore in the long run, a huge untapped market will remain to be targeted by companies that manufacture pain management products.

Top Three Companies account for only 45.1% Market Share as Generics have Substantial Presence in the Global Pain Management Market

The current global pain management market is only moderately consolidated. This is due the impact of high numbers of generics present in the market. In 2009, generic sales accounted for approximately 20.4% of the market. This percentage is expected to grow further as more generics enter during the period 2009-2016. As a result the branded companies are not able to monopolize the market and top three companies account for only a 45% share. The drugs such as Celebrex, Lyrica, and Cymbalta, which are major contributors, will lose patent protection, leaving the market more fragmented. Pfizer leads the market with the sales of Lyrica and Cymbalta. Eli Lilly and Johnson & Johnson follow Pfizer. Other players such as Endo Pharmaceuticals, Novartis, Merck & Co, Inc., Cephalon Inc., AstraZeneca, GlaxoSmithKline (GSK), Genzyme Corporation, Mylan Laboratories, Watson Pharmaceuticals, Teva Pharmaceuticals, Meda AB and other generic players account for 54.9% of the market.


GBI Research: The Future of Pain Management Therapeutics, Analysis and Market Forecasts to 2016 - Increasing  Generic Competition Creates Challenges:
http://www.reports-research.com/market-surveys/future-pai...

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