Painkillers Market “to hit $28.8 billion by 2023”

The global market for pain therapeutics is predicted to increase from $19.7 billion in 2016 to around $28.8 billion in 2023, a 5.5% growth, according to business intelligence provider GBI Research.

The company’s latest report states that 817 products are included in pain therapeutics-63% of which are in the early drug development stages. The first drugs in this class are expected to receive approval in 2018, including Teva’s Fremanezumab, Alder’s Eptinezumab, Amgen and Novartis’ Erenumab and Eli Lilly’s Galcanezumab.

It is likely that the introduction of CGRPR antagonists to the market will change the treatment of migraine-as they demonstrate strong efficacy in migraine prevention via monthly injection. GBI Research expects orally administered CGRPR antagonists to gain approval from 2020.