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Credit: Jason Tromm

In a recent research report titled “Pain Management: A Global Strategic Business Report”, Global Industry Analysts Inc., conducted a quantitative study on characteristics of the global pain management market. 

The global pain management market is estimated to reach $77billion by 2017, with Asia-Pacific forecasted to lead regional growth.  Currently, the United States holds the largest regional market for pain management worldwide, expected to reach $60 billion by 2015.  Latin America is also expected to grow significantly, as developing nations demand more pharmaceuticals to care for increasing incidence of pain.  Several factors have contributed to the expansion of this market, including:

–          Increasing global aging population

–          Constant and consistent development and discovery of new drugs

–          Emergence of pain management clinics

–          Changing lifestyles that cause repetitive strain injuries

–          Growing global demand for pain management drugs

While the study addresses current market trends, key growth drivers and industry innovation, GIA takes this opportunity to marvel at the pain management market as an explosion of success, due to the growth of companies such as AstraZeneca Plc. and Merck & Co., Inc and to the global aging population.   It does not, however, go into depth about pain and aging, specifically for managing chronic conditions.

While the market is successful, persistent pain, especially in older people, continues to take a toll on the well being of the elderly.  Thanks to Age UK, a chronicle of experiences from an older perspective has been made available to share the accounts of those who most utilize this growing pain management market. “Pain in Older People” (2008) is a compassionate, heart-warming first person account from those who experience and cope with ongoing pain to help raise awareness of the challenges older people face.

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