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Global Pain Therapeutics Market to Reach USD 28.8bn by 2023, Research and Markets Forecasts.

M2 PHARMA-July 12, 2017-Global Pain Therapeutics Market to Reach USD 28.8bn by 2023, Research and Markets Forecasts

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- Globally, the pain therapeutics market is forecast to grow from USD 19.7bn in 2016 to USD 28.8bn in 2023 at a compound annual growth rate of 5.5%, according to a new report from Dublin-based Research and Markets.

The US market alone is forecast to be worth USD 13.5bn in 2023, accounting for 45.2% of the overall pain therapeutics market.

Generic products are the main source of market revenue, accounting for over 50% of total market revenue in 2016. This is due mainly to the widespread usage (particularly in the US) of generic opioids, which are far more expensive than other generic analgesics.

There are 817 products in the pain therapeutics pipeline, including 75 for migraine, 118 for inflammatory pain and 255 for neuropathic pain. Some 63% of the pipeline is in the early drug development stages.

The most promising drugs within the pipeline include those drugs belonging to the new class of migraine medication, the CGRPR antagonists that have been shown to be an effective preventative therapy for migraines.

This class of drugs is forecast to generate an aggregate of USD 5bn revenue by 2023.

A total of 363 licensing deals for pain therapeutics were completed between 2006 and April 2017, with an aggregate disclosed value of USD11.8 bn. This highlights pharmaceutical company's interest in investment in analgesics. These deals varied considerably in terms of value, ranging from USD 20,000 to USD 1.5bn.

Over 40 deals were valued at less than USD10m, while 19 were valued above USD 200m.

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