LONDON, Sept. 27, 2016 /PRNewswire/ -- There is a growing incidence of prescription drug abuse among the global patient population. Pharma companies react by making a concerted effort to come up with more abuse-deterring opioids and novel non-narcotic formulations of analgesics. The innovations include novel non-narcotic drug classes and pain management devices that leverage the rapid advances in targeted therapies as well as minimal and non-invasive treatment techniques.
Therapeutic Advances in Pain Management, part of the TechVision (Health & Wellness) subscription, finds that the United States currently leads the innovation landscape for pain therapy. The European and Japanese markets are likely to emerge as key players in the near future. The analysis offers a detailed account of key technological trends in existing and emerging analgesic technologies, across the world. It covers a wide range of pain disorders such as headache, musculoskeletal, neuropathic and cancer pain. It includes market drivers and challenges, adoption trends, collaborations, recent FDA approvals, analgesic pipelines, technology roadmaps and patent analysis across regions.
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"As pain evaluation and assessment is highly subjective, there is a lack of validated clinical assessment parameters for pain," said TechVision Research Analyst Vandana Iyer. "Further, pain management therapies currently have no quantitative indicators for efficacy evaluation. This translates to a large, market for inventive diagnostic pain biomarkers and quantitative tools that assess pain perception and treatment efficacy."
There is also considerable focus on generating new drug formulations using existing analgesics. Pharmaceuticals are smartly employing inventive methods that can transform traditional analgesics into low-dose, extended release, intravenous, nanoparticle and transdermal drugs.
"Such innovations could become more commonplace with big pharma companies, as well as start-ups and small- and medium-sized enterprises signing partnerships for the co-development and co-commercialization of novel analgesics," noted Iyer.
In addition to product collaboration, the pain management space will witness:
- Marketing collaborations to facilitate the worldwide distribution of analgesic products
- R&D collaborations to aid the discovery of molecular targets for pain killers and
- Technology licensing collaborations to devise fresh methods to expedite drug discovery and development
Overall, the increased global awareness about the side effects of narcotic medications and the growing need for quantitative indicators of drug efficacy will contribute significantly towards driving technology growth in the pain management sector.
Frost & Sullivan's global TechVision practice is focused on innovation, disruption and convergence and provides a variety of technology based alerts, newsletters and research services as well as growth consulting services. Its premier offering, the TechVision program, identifies and evaluates the most valuable emerging and disruptive technologies enabling products with near-term potential. A unique feature of the TechVision program is an annual selection of 50 technologies that can generate convergence scenarios, possibly disrupt the innovation landscape, and drive transformational growth. View a summary of our TechVision program by clicking on the following link: http://ifrost.frost.com/TechVision_Demo.
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Therapeutic Advances in Pain Management
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SOURCE Frost & Sullivan