STUDIES IN EUROPE and the USA estimate that around 20% of the adult population suffer from moderate or severe pain persisting for more than 6 months.
The Global Pain Management Therapeutics Market (PMTM) is valued at USD 65.5 billion in 2018 and is expected to grow at 4.1% CAGR to USD 86.2 billion in 2025. US and Europe together represent 68% of the global market. A key growth driver is an aging population with increasing prevalence of chronic disorders.
The market opportunity is the lack of effective treatments for chronic pain without unwanted side-effects of existing medicines (conventional opioids, anti-depressants and gabapentinoids).