Drug Abuse Triggers Regulations to Push the Development of Tamper-Resistant Opioid Formulations for Pain Management
Targeted pain drugs that do not have side effects such as constipation and addiction have a huge market awaiting them, says Frost & Sullivan
MOUNTAIN VIEW, Calif., June 4, 2015 /PRNewswire/ -- The pain market is currently dominated by opioid analgesics, which have well-known side effects such as addiction and constipation. However, 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.
Analysis from Frost & Sullivan, A Product and Pipeline Analysis of the Opioid Therapeutics and Drug Delivery Market (http://www.frost.com/ned9), finds that the market earned revenues of $50.2 billion in 2013 and estimates this to reach $60 billion in 2018.
For complimentary access to more information on this research, please visit: http://bit.ly/1G1Nhmk.
"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," said Frost & Sullivan Healthcare Industry Analyst Aish Vivekanadan. "Overall, regulations are pushing long-term clinical trials so companies produce effective and abuse-free opioids."
One of the largest challenges for companies trying to expand their revenues in the U.S. is that strict regulations implemented by government agencies such as the Food and Drug Administration are going to increase their expenditure and restrict growth to a certain extent. Consequently, interest is shifting towards European and Asian countries where regulations are more lenient.
"A key game-changing strategy to succeed in the pain market includes maintaining a broad product portfolio," noted Vivekanadan. "Companies such as Johnson & Johnson, Purdue and Endo are doing just this by offering transdermal and oral products."
A Product and Pipeline Analysis of the Opioid Therapeutics and Drug Delivery Market is part of the Life Sciences (http://www.lifesciences.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: A Competitive Analysis of the Global Breast Cancer Therapeutics Market, A Product and Pipeline Analysis of the Lung Cancer Therapeutics Market, A Product and Pipeline Analysis of the Antibacterial Drugs Market and Product and Pipeline Analysis of the Global Rheumatoid Arthritis Therapeutics Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
A Product and Pipeline Analysis of the Opioid Therapeutics and Drug Delivery Market
NED9-52
Contact:
Kayla Belcher
Corporate Communications – North America
P: 210.247.2450
F: 210.348.1003
E: [email protected]
Logo - http://photos.prnewswire.com/prnh/20150602/220214LOGO
SOURCE Frost & Sullivan
Share this article