The Global Market for Pain Management Drugs and Devices
The global pain-management market is worth around $30.9 billion in 2007. It is forecasted to grow at a compound annual growth rate (CAGR) of 5.63% to reach $40.6 billion by the end of the forecast period, 2012.
The pharmaceuticals segment of the pain-management market is valued at $29 billion in 2007. It will be worth $38 billion by 2012 at a CAGR of 5.6%.
In 2007, market revenue from the medical devices segment is around $1.9 billion. This segment is predicted to grow at a CAGR of 6.5% to reach $2.6 billion by the end of 2012.
The goal of BCC Research in conducting this study was to determine the present status of the worldwide pain-management market and also to evaluate its potential over the five-year period from 2007 to 2012. The pain-management market has been analyzed considering two main segments: pharmaceuticals and devices. The pharmaceuticals segment is further subdivided into different types, such as non-opioids, opioids, anticonvulsants, and antidepressants, whereas the medical devices segments is segmented into transcutaneous electrical nerve stimulation (TENS), spinal cord stimulator (SCS) and peripheral nerve stimulator (PNS), and intrathecal pumps.
SCOPE OF STUDY
This report contains:
- The major types of pain-management methods, including drugs (non-opioids, opioids, anticonvulsants, and antidepressants) and devices (transcutaneous electrical nerve stimulation (TENS), spinal cord stimulator (SCS), peripheral nerve stimulator (PNS), and intrathecal pumps)
- Analysis of each type of pain-relief technique, determining its current market status, its impact on future markets, and growth over the 5-year period 2007 through 2012
- Technological issues, including the latest trends, plus other influential factors, such as patents, new products, and other adjuvant techniques of pain management.
BCC Research presents an analysis by each segment of pain relief, depending on its technique, considering the base year 2007. Estimated values are based on what manufacturers have paid in undepreciated dollars. P>INFORMATION SOURCES
The major sources of information for this study have been primary research done by interviewing a majority of the key players in this industry. Secondary research was compiled from Internet company websites, as well as current financial and trade information, and information from government sources.
ABOUT THE AUTHOR
Alpita Shah has an MBA in Healthcare and a B.S. in life sciences. She has published many articles and reports in the areas of biotechnology and healthcare. She is familiar with the operations of many healthcare companies.
This report presents the forecast of the market for pain management through the year 2005. By 2005, it is anticipated that revenues will likely reach $32 billion, growing at an average annual rate of almost 12%.
Pain management pharmaceuticals currently hold the largest market revenue position, representing 97% and accounting for $16 billion of the total in 1999. Pharmaceuticals have long been the mainstay of pain management and it is anticipated that they will remain the largest market share throughout the forecast period.
Pain management devices account for 3%, representing $418.5 million in 1999. It is anticipated that the device segment will gain market revenue position due to technological advancements and a gradually declining cost increasing demand for current technologies