Pain management drugs market boasts significant growth
The subsector experienced growth of three per cent between 2010 and 2012.
An investigation into the pain management drugs and devices subsector of the pharmaceutical industry evidences growth of three per cent between 2010 and 2012.
Authors of the Kalorama Information report entitled The World Market for Pain Management Drugs and Devices believe that population aging is a major force behind the trend.
Improvements to medicine and care mean that the average lifespan across many countries is rising, and larger populations of older people results in more demand for pain management.
According to the World Health Organization (WHO), global life expectancy increased from 64 years in 1990 to 70 years in 2011 - a boost of over nine per cent.
However, the researchers also believe that product development is fuelling growth in the sector, with advancements enabling the accommodation of different consumer needs.
Boston Scientific, Abbott Laboratories Medtronic Inc and St Jude Medical Inc were named as leaders in this part of the pharmaceutical market.
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