Today,
growing concerns over diseases such as arthritis, IBS, respiratory diseases, Psoriasis
and more have become the key market drivers for the growth of anti-inflammation
therapeutic industry. Furthermore, a report published by “IMS Health “, the
total pain management drugs or pharmaceutical industry , in United States alone
was valued at $18.2 billion in the year 2012. The existing medications to treat
pain, majorly comprises of anti-inflammatory biologics, NSAIDs as well as COX
inhibitors. Furthermore, while the NSAIDs are used to treat the mild to
moderate inflammation opioids are found useful in treating moderate to severe
pain.
A study
carried out by “La Merie Publishing”, shows that the total sales of the
biologics in figure in 2014 was approximately US$ 141 billion. The same study
reveals that the biologic market generated up to US$ 140 in 2013. Similarly, the
demand to relief inflammation and pain has gained great momentum with a rise of
nearly 12.9 percent for the anti- TNF antibodies, coupled with a hike of 20.1
percent for other anti-pain and inflammatory antibodies. Moreover, over US$ 47
billion in figures was generated by the total of different anti-inflammatory
antibodies by the end of 2014. Gustav Ando an analyst in IHS, commenting on the
expanding biologics market said: “The industry is becoming increasingly
involved in biological drugs. We're seeing a lot of dramatic breakthroughs in
the science of biologics."
Apart from
this the NSAIDs (Nonsteroidal Anti-Inflammatory Drugs) are most commonly used
drugs to relief osteoarthritis, which is a most popular form of arthritis as
well as mild pain. The NSAIDs can cost
anywhere between $4 to $1,5000 every month. Etoricoxib which is the widely sold
NSAIDs and accounted for about 14 percent sales in countries such as Malaysia,
Bangladesh and Hong Kong reveals a study conducted by the “William Harvey
Research Institute”. The same study indicated that the sales of etoricoxib
accounts for nearly 28 percent in Singapore. According to a report published by
Allied Market Research titled “World Anti-Inflammatory Therapeutics - Market
Opportunities and Forecasts, 2014 – 2020,” the aforementioned market would see
a CAGR of 5.8 percent during the forecast period 2014 to 2020.
