Cancer pain regimens and the revenue that accompanies them are on the fast track to the pinnacle of care demand, with sales expected to total $7 billion by 2019 according to the latest report from GBI Research.
The market compound annual growth rate (CAGR) is projected to increase by 9.1 percent from 2012 to 2019. What’s more, post-operative market figures are estimated to overcome an 8 percent increase over the same duration. Analysts posit that the increase will be in strong reaction to an unmet care need all but bursting at its seams already.
“In 2012, 11.8 million people across the top seven markets were suffering from cancer pain, and this number is only continuing to rise,” said Vijaya Vulapalli, senior analyst at GBI Research, in a new release. “However, just 58 percent of the diseased population and 78 percent of the diagnosed population are prescribed medication, as the focus is usually on treating the cancer rather than the pain. This presents a current unmet need in the market which pain management therapeutics will be required to fill over the coming years.”
Although the realm for cancer pain management is sure to make great strides — consuming a projected 15 percent of the pain management market share by 2019 — researchers did not anticipate the growth to overtake the top market seed from neuropathic pain management, a sector that will still hold the largest share of 16 percent by 2019.
Overall, the pain management market in its entirety is expected to rise from a $36 billion value in 2012 to $49 billion by 2019, which factors out to a CAGR of 4.6 percent, the report said.
Per the report: “A healthy pipeline will also contribute to climbing market revenue, with neuropathic pain being the key therapy area of R&D focus, followed by migraine pain, which currently claims 14 percent of the pipeline. Despite this level of activity, the overall pain management market will be prevented from growing any further due to the challenges posed by generic competition, which is expected to increase over the coming years following a series of patent expiries for top-selling drugs such as Cymbalta, Lyrica and Celebrex (celecoxib).”
Find the report here.
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