Greystone Associates Analyzes the Economic, Demographic and Pain Management Factors Driving Demand for Patient-Friendly Formulations
(Amherst, NH) – Historically considered an unfortunate byproduct of illness and injury that was essentially outside the scope of medical practice, pain is now viewed as an important and treatable element of modern patient care. Several factors are now converging to create opportunities for pain management products that address the overlapping needs of caregivers, underwriters, and patients. Pain drug patches and gels are positioned to benefit from these developments, which are examined in a new study by Greystone Associates.
Increase incidence in the general population and evolving pain management initiatives will drive growth in transdermal pain product segment revenue by just under 16 percent per year through 2012. “Shifting population demographics in developed societies are increasing demand for palliative treatments associated with an aging patient base, conditions that include both nociceptive and neuropathic pain,” explains George Perros, Greystone Managing Director. “And controlling pain associated with cancer is now considered an essential part of the practice of oncology, and a non-negligible factor in patient outcomes.”
Currently approved transdermal pain products include narcotics, NSAIDs, and topical anesthetics. These patches and gels will encounter competition from development-stage transdermal formulations for a number of pain medications presently being marketed in oral or parenteral form. Several of these development programs involve international partnerships designed to take advantage of perceived opportunities in regional markets.
Generics will play a major role in the competitive climate for pain patches and gels. The influence of generics on product strategies and business results was clearly illustrated with Duragesic, which experienced a 50 percent drop in revenues in the four years after generic fentanyl patches were introduced.
A new research study from Greystone Associates, Transdermal Pain Management, examines the factors creating opportunities for transdermal pain management products. It identifies the key players in this segment, describes the regulatory and industry environment, and assesses the dynamics of patient care that will affect market development. The report includes forecasts for the growth of transdermal pain management products by drug class, by region and by technology.
More information is available at www.greystoneassociates.org .
About Greystone
Greystone Associates is a medical technology consulting firm focused on the areas of medical market strategy, product commercialization, venture development, and market research. We assist medical and healthcare market participants in achieving their business objectives through the creation of detailed development strategies, product commercialization programs, and comprehensive market and technology research and analysis. Our market research publications are designed, researched and written to provide timely and insightful information and data on focused market segments, with the aim of providing market participants with the essential knowledge to refine and execute their marketing plans and financial targets.
Contact:
Mark Smith
Voice: 603-595-4340
Fax: 603-804-0466
www.greystoneassociates.org
Source: Greystone Associates
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