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June 5, 2015.
The pain market is currently dominated by opioid analgesics, which have well-known side effects such as addiction and constipation. According to research from Frost & Sullivan, a $10 billion market exists for a company able to develop a novel, targeted pain therapy that excludes these side effects, indicating the huge opportunity for growth in this mature industry. The report, A Product and Pipeline Analysis of the Opioid Therapeutics and Drug Delivery Market, finds that the market earned revenues of $50.2 billion in 2013 and estimates this to reach $60 billion in 2018. Frost & Sullivan analyst Aish Vivekanadan commented: “With the rising number of deaths due to opioid abuse in developed regions of the world like the U.S. and Europe, as well as an outcry from the public, many regulatory agencies have been forced to intervene by only approving tamper-resistant formulations. Overall, regulations are pushing long-term clinical trials so companies produce effective and abuse-free opioids.”