Chronic Pain Therapeutics - Pipeline Assessment and Market Forecasts to 2017

March 15, 2011 - PRLog -- GlobalData estimates that the global chronic pain therapeutics market was valued at $18 billion in 2010, and is forecast to grow at a compound annual growth rate (CAGR) of 4.7% over the next seven years, to reach $24.9 billion by 2017. This slow growth is primarily attributed to low treatment seeking behavior and disease awareness and the use of generic drugs

GlobalData’s research indicates that the current treatment options are focused on offering relief from the various forms of chronic pain such as lower back pain, osteoarthritis pain, cancer pain, fibromyalgia and others. Although the current market is reasonably well served but the market needs novel therapies offering better results in terms of safety and efficacy. This is likely to fulfill the unmet need of the market. The chronic pain therapeutics pipeline is strong with disease modifying molecules such as Nerve Growth Factor (NGF), N-type calcium blockers, Glial cell regulators and so on in the various phases of clinical development. These products are likely to offer significantly better performance on safety and efficacy parameters

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The increase in the prevalence of chronic pain among the population is the principal driver of the chronic pain therapeutics market, and will continue to be so in the future. In the US nearly 75 million people experience some kind of chronic pain such as lower back pain, migraine and diabetic neuropathic pain. The worldwide incidence of chronic pain is increasing due to changes in demography, lifestyle and so on. From the above data, it is clear that increases in the patient population will lead to the increased use of therapeutic drugs.

GlobalData, the industry analysis specialist, has released its new report, “Chronic Pain Therapeutics - Pipeline Assessment and Market Forecasts to 2017”. The report is an essential source of information and analysis on the global Chronic Pain Therapeutics market. The report identifies the key trends shaping and driving the global Chronic Pain Therapeutics market. The report also provides insights on the prevalent competitive landscape and the emerging players expected to significantly alter the market positioning of the current market leaders. Most importantly, the report provides valuable insights on the pipeline products within the global Chronic Pain Therapeutics sector. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts

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