PAIN MANAGEMENT THERAPEUTICS MARKET ANALYSIS

Market Challenges And Opportunities

• Prescription drug abuse
• Pain advocacy groups losing power, influence, and funding

Global Pain Management Therapeutics Market: Restraints

Prescription drug abuse is expected to hinder growth of the market. For instance, according to the study, ‘ The Future of Fentanyl and Other Synthetic Opioids,’ published by RAND Corporation in 2019,  the number of deaths involving synthetic opioids increased from 3,000 in 2013 to more than 30,000 in 2018, in the U.S.

Moreover, pain advocacy groups losing power, influence, and funding is also expected to limit the market growth. Advocacy groups for pain management are losing power and influence that they had initially, due to loss in funding from government as well as sponsors, which included pharmaceutical organizations.

Global Pain Management Therapeutics Market: Drivers

Approval and launch of new therapeutics is expected to propel growth of the global pain management therapeutics market over the forecast period. For instance, in November 2018, AcelRx Pharmaceuticals, Inc. received approval for DSUVIA for use in adults in certified medically supervised healthcare settings for the management of acute pain severe enough to require an opioid analgesic, from the U.S. FDA.

Moreover, increasing prevalence of arthritis is also expected to aid in growth of the market. For instance, according to the Centers for Disease Control and Prevention (CDC)’s May 2019 report, an estimated 54.4 million US adults have diagnosed arthritis, which accounted for around 1 in 4 people in the U.S.

Global Pain Management Therapeutics Market: Opportunities 

R&D in alternatives for opioids is expected to offer lucrative growth opportunities for players in the global pain management therapeutics market. For instance, in June 2020, researchers at The University of Texas at Tyler, U.S., reported assessing the antinociceptive effects of 3-(2-chlorophenyl)-5-(5-methyl-1-(piperidin-4-yl)-1H-pyrazol-4-yl)isoxazole, a novel positive allosteric modulator, with preferential selectivity to the low agonist sensitivity (α4)3(β2)2 Neuronal nicotinic acetylcholine receptor and desformylflustrabromine, a positive allosteric modulator for α4-containing neuronal nicotinic acetylcholine receptor.

Moreover, use of VR in pain management is also expected to aid in growth of the market. For instance, HTC Corporation’s HTC VIVE, a VR system is under clinical trial for assessing the effect of virtual reality technology on decreasing the acute pain of scar treatment with fractional laser under local anesthesia. The study is expected to be completed in December 2020.