Cancer pain therapeutics will see steady growth, reaching $3.15 billion by 2017, says GlobalData

The cancer pain therapeutics market is forecast to show steady growth until 2017, says a new report from GlobalData, which estimates that the global sector was worth $2,448 million in 2010, and is forecast to expand at a compound annual growth rate (CAGR) of 3.7% over the next seven years, to reach $3,152 million by 2017.

This steady growth is primarily attributed to the strong pipeline with new first-in-class therapies. The current competitive landscape consists of branded products, generics and off-label drugs. The market remains well-served with the current marketed products, most of which are significantly efficacious in their respective target areas, says GlobalData.

The pipeline products are expected to provide better benefits, with innovative mechanisms of action. However, the generic availability and physician familiarity with opioids such as immediate-release morphine, non-steroidal anti-inflammatory drugs (NSAIDs) and fentanyl will continue to dominate the cancer pain market. Essentially, the global cancer pain market is heading towards a phase of continuous growth, leveraging the current opportunities.