Industry Analysis
Pharmaceutical Pain Management Market Growth
The pain-management market is divided into two key revenue-generating segments. The first area is pharmaceuticals pain-management, where pain is treated using pharmacological medications. The second section comprises medical devices used to treat conditions that cause pain.
The pharmaceuticals segment of the pain-management market is valued at $29 billion in 2007. It will be worth $38 billion by the end of 2012, growing at a CAGR of 5.6%, according to a recently published BBC Research report. The efficiency of drugs for treating various types of pain in a relatively shorter time period is driving the market for this segment.
The medical devices pain-management market is much smaller than the pharmaceuticals pain-management market. In 2007, the segment is valued at $1.87 billion. This segment is predicted to grow at a CAGR of 6.5% to reach $2.6 billion by the end of 2012. The absence of side effects and presence of highly efficient devices for treating pain that is not successfully being treated by drugs is driving the growth for this market. (BBC Research Report)
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Source: BusinessWire.com (BBC Report)
Market Segmentation
The pharmaceuticals pain-management segment is comprised of revenues generated from four key sub-segments: non-steroidal anti-inflammatory drugs (NSAIDs), opioids, antidepressants, and anticonvulsants.
The Pharmaceutical and Medicine Industry has four main product groupings: pharmaceutical preparation products; medicinal and botanical products; in-vitro diagnostic substance products and biological products. Of greatest significance is the first product group (Pharmaceutical Preparation Products), which is thought to account for roughly 50% of company numbers and 70% of industry employment. It encompasses those pharmaceutical preparations (which can take the form of ampoules, tablets, capsules, vials, ointments, powders, solutions, and...