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Drug Sales Trends for PENNSAID
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Annual Sales Revenues and Units Sold for PENNSAID
| Drug Name | Revenues (USD) | Units | Year |
|---|---|---|---|
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2022 |
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2021 |
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2020 |
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2019 |
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2018 |
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2017 |
| PENNSAID | ⤷ Try for Free | ⤷ Try for Free | 2016 |
| >Drug Name | >Revenues (USD) | >Units | >Year |
Market Analysis and Sales Projections for PENNSAID
Introduction to PENNSAID
PENNSAID, a topical solution containing diclofenac sodium, is a non-steroidal anti-inflammatory drug (NSAID) used to treat pain associated with osteoarthritis (OA) of the knee. The drug is available in two concentrations: 1.5% and 2% w/w, with the latter being a second-generation version.
Market Size and Growth
The topical analgesic market, which includes PENNSAID, is projected to experience significant growth. The global topical pain relief market is expected to grow from USD 4.58 billion in 2023 to USD 6.26 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 6.44% during the forecast period[3].
Key Drivers of Market Growth
Regulatory Approvals and Product Launches
New product launches and regulatory approvals are crucial drivers of market growth. For instance, the launch of an authorized generic version of PENNSAID (Diclofenac Sodium Topical Solution) 2% w/w by Lupin Limited in December 2022 is expected to contribute to the expansion of the diclofenac spray market[3].
Increasing Prevalence of Pain-Related Diseases
The rising prevalence of pain-related diseases such as osteoarthritis, rheumatoid arthritis, and musculoskeletal disorders is a significant factor driving the demand for topical analgesics like PENNSAID. The growing geriatric population, which is at a higher risk of experiencing inflammation-related problems, also contributes to this demand[4].
Sports-Related Injuries
Sports and recreational injuries are another key driver. In the United States, for example, there was a significant increase in sports-related injuries in 2021, with over 3.2 million people treated in emergency departments for such injuries. This trend is expected to continue, driving the demand for topical pain relievers[3].
Geographic Market Analysis
North America
North America is anticipated to have the largest market share for topical analgesics, including PENNSAID. The region's robust medical infrastructure, widespread understanding of diclofenac usage, and sustained demand from trauma injuries are key factors driving this growth. The rising prevalence of arthritis and other chronic medical conditions in this region further supports the market[3][4].
Sales Performance and Projections
Historical Sales
In 2014, Horizon Pharma acquired the U.S. sales and marketing rights to PENNSAID 2% from Nuvo Research for $45 million. This acquisition included an eight-year exclusive supply agreement with Nuvo. The transaction was facilitated by a litigation settlement with Mallinckrodt, which had previously held the marketing and selling rights for PENNSAID in the U.S.[1].
Current Market Trends
The diclofenac market, which includes PENNSAID, experienced a slight decline during the COVID-19 pandemic but has since recovered. The demand for diclofenac drugs increased significantly in 2021 following the relaxation of government restrictions and the normalization of drug supply chains in 2022[4].
Future Projections
Given the growing demand for topical pain relievers and the expanding applications of diclofenac, the sales of PENNSAID are expected to increase. The topical segment of the diclofenac market is anticipated to grow significantly due to the ease of application and higher patient acceptance of topical medications. New product launches and formulations, such as patches, are also expected to contribute to this growth[3][4].
Competitive Landscape
PENNSAID operates in a competitive market with other topical analgesics and NSAIDs. However, its specific approval for treating OA pain in the knee and its second-generation formulation give it a unique position. The acquisition by Horizon Pharma and subsequent distribution agreements have also strengthened its market presence[1].
Patient Acceptance and Preference
Topical medications like PENNSAID are highly accepted by patients due to their ease of application and localized action, which reduces systemic side effects. This preference is expected to drive sales as more patients opt for topical treatments over oral or parenteral routes of administration[4].
Regulatory Environment
The regulatory environment continues to support the growth of the topical analgesic market. Approvals by regulatory bodies such as the FDA for new formulations and administration methods, like the pre-filled, single-use pen for TEZSPIRE, indicate a favorable regulatory climate for innovative pain relief products[2].
Key Takeaways
- Market Growth: The global topical pain relief market, including PENNSAID, is expected to grow from USD 4.58 billion in 2023 to USD 6.26 billion by 2028.
- Key Drivers: Regulatory approvals, new product launches, increasing prevalence of pain-related diseases, and sports-related injuries are driving market growth.
- Geographic Focus: North America is expected to have the largest market share due to robust medical infrastructure and high demand.
- Sales Projections: Sales of PENNSAID are expected to increase due to growing demand for topical pain relievers and expanding applications of diclofenac.
- Competitive Landscape: PENNSAID operates in a competitive market but holds a unique position due to its specific approval and second-generation formulation.
FAQs
Q: What is PENNSAID used for?
PENNSAID is used to treat pain associated with osteoarthritis (OA) of the knee.
Q: Who acquired the U.S. sales and marketing rights to PENNSAID 2%?
Horizon Pharma acquired the U.S. sales and marketing rights to PENNSAID 2% from Nuvo Research in 2014.
Q: What are the key drivers of the topical analgesic market growth?
Key drivers include regulatory approvals, new product launches, increasing prevalence of pain-related diseases, and sports-related injuries.
Q: Which region is expected to have the largest market share for topical analgesics?
North America is expected to have the largest market share due to its robust medical infrastructure and high demand.
Q: How has the COVID-19 pandemic affected the diclofenac market?
The diclofenac market experienced a slight decline during the pandemic but has since recovered with increased demand in 2021 and normalized supply chains in 2022.
Sources
- Horizon Pharma Picks Up Nuvo's Osteoarthritis Pain Drug for $45M - Genetic Engineering & Biotechnology News
- AMGEN REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS - PR Newswire
- Topical Analgesic Market Report | Industry Analysis, Size & Forecast - Mordor Intelligence
- Diclofenac Market Size, Trends, Growth, 2032 - Fortune Business Insights
- AMGEN REPORTS FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS - Amgen Newsroom
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