Postoperative Pain Therapeutics Market Set to Record Exponential Growth by 2027
Posted by Aman Jaiswar on July 2nd, 2019
Transparency Market Research, in its new research study, divulges compelling insights into the postoperative pain therapeutics space, to assist readers with value-creation and data-driven decision making. As the global healthcare space is seeing a palpable shift toward a 'value-based care' model, postoperative pain management is gaining its very own eminence. The goal behind the focus of healthcare providers on postoperative pain management remains two-fold--staving-off potential complications and creating positive patient experiences. As patient experiences have started lying at the heart of branding for healthcare services, effective postoperative pain management has become as important as surgical success.
Revenues from the postoperative pain therapeutics market closed in on a valuation of over US$ 11,400 Mn in 2018. Companies that were at the forefront in terms of product differentiation and reliability have gained the first-mover advantage, while the skeptics have to contend with limited growth. The last five years saw opioids becoming the go-to for chronic pain management, especially in the US and Europe.
The sales of NSAIDs (non-steroidal anti-inflammatory drugs) are gathering strength in price-sensitive markets such as Latin America and APAC, as the efficacy and cost-effectiveness of NSAIDs has been long appreciated. Gone are the days when postoperative pain therapeutics faced the 'apprehension battle' among patients. Rather, these are emerging as ancillaries, supporting the growth of healthcare services. Sensing latent opportunities for market players, Transparency Market Research (TMR) estimates that postoperative pain therapeutics market revenue will surpass US$ 12 Bn in 2019.
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The postoperative pain therapeutics landscape has been bearing the brunt of opioid abuse, necessitating the development of abuse-deterrent drugs. Post the catastrophic opioid crisis in the U.S., the FDA (Food and Drug Administration) has been laying stress on the mass development and commercialization of prescription opioids with abuse-deterrent formulations (ADFs). Opioid-free anesthesia is also finding a unique place in pain management practices by multiple healthcare providers, based on a definitive plan of care tailored to an individual.
The emphasis on drugs with enhanced biopharmaceutical properties is another overarching trend shaping product development spectrums. Consequently, extensive focus on ionizability, permeability, pH-solubility, and other properties is picking up pace in production paradigms, which would further breathe life into the performance of drugs.
In a fiercely-competitive postoperative pain therapeutics space, strong product profiles no longer suffice for building a distinctive brand persona. Rather, weaving successful patient experiences through distinguishable products is emerging as the new norm of success. For instance, in 2018, Heron Therapeutics, Inc. - a leading biotechnology company - announced that, 'HTX-011', its exclusive range of therapeutics for postoperative pain management, received the 'Breakthrough Therapy' designation from the U.S. FDA for its superior performance.
Market forerunners are proactively responding to the overwhelming demand via strategic overhauls, re-aligning their core competencies into newer formats, which would further help them level up their revenue performances. Obtaining priority review designations from the FDA remains a key focal point of postoperative pain therapeutics market players, as these reviews are instrumental in pulling the right levers to reduce 'time-to-market'.
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About the AuthorAman Jaiswar
Joined: May 14th, 2019
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