New report on Global Pain Management Therapeutics Market by Drug Class The global pain management therapeutics market is segmented into different categories, namely NSAIDs, Anesthetics, Anticonvulsants, Anti-Migraine Agents, Antidepressants, Opioids and Non-Narcotic Analgesics. Non-steroidal anti-inflammatory drugs are the largest selling in the drug class due to shifting from prescription to over the counter (OTC) drugs such as, aspirin, diclofenac and ibuprofen, which are popular among the masses. Opioids are the second largest market in this segment due to its high efficacy to relieve pain in major chronic conditions where NSAIDs fails to show desired therapeutic response. Global Pain Management Therapeutics Market by Indication The global pain management therapeutics market is segmented based on its indication into different categories such as Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Back Pain, Post-operative Pain, Migraine and Fibromyalgia. Neuropathic pain and cancer pain dominates the indication segment due to increasing incidences of diabetes and cancer around the globe.
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High Level Analysis The comprehensive analysis of global pain management therapeutics market provides the overview of the market and its key concerns. Market segmentation is concentric towards product distribution trends of each segment that would be helpful to strategist in deciding on the market segments. Market dynamics covers market drivers, restraints and opportunities, which would help to understand the market behavior. Porter’s five forces analysis would be helpful in determining the market profitability. Buyers’ bargaining power is high for pain management market due to availability of numerous OTC medicines in the marketplace. Patent expiration of major brands in the near future would open avenues for generic manufacturers to enter the market, which would increase the threat of new entrants. Alternative options are available to drug therapy, which could be the second line of treatment such as physiotherapy and pain managing devices. However, low cost of OTC products and its popularity dominates the market for therapy drugs. Hence, threat of substitute products is moderate; however, it could increase in near future due to patent expiration of major brands and fresh entry of generics in the market. Industrial rivalry is intense due to numerous competitors present in the market manipulating prices of OTC products according to changing market trends to retain market dominance.
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MARKET BY DRUG CLASS
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