Why the Global Pain Management Drug Market is Adopting More Non-Opioid Options

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, Nov. 20, 2019 /PRNewswire/ -- It appears that the reign of the opioid drugs in the global pain management markets could be coming to an end. While opioids have long been the 'best' choice to address the pain patients suffer from various ailments, there has been a growing focus on non-opioid drugs, therapies and devices. Recent reports and studies, like one published by ResearchAndMarkets, says that the current market is gradually adopting more non-opioid medications to suppress the addiction toward opioids and certain well-established painkillers in the market. There are several non-opioid drugs with mechanisms of action that are currently in early and late-stage development. The federal authorities in multiple countries are shifting to alternative approaches, and thus, fast-tracking those drugs to market approval. The shift is expected to be gradual, and thus pain management has very attractive growth prospects between 2019 and 2024. Active biotech and pharma companies in the markets this week include: Q BioMed Inc. (OTCQB: QBIO), Myovant Sciences Ltd. (NYSE: MYOV), Heron Therapeutics, Inc. (NASDAQ: HRTX), BioCryst Pharmaceuticals, Inc. (NASDAQ: BCRX), Endo International plc (NASDAQ: ENDP).

The report said: "The growth of the global pain management drugs and devices market is majorly due to the well-established business of painkiller medications as the first line of treatment. In recent years, the increasing reliance on their prolonged use and a greater understanding of their side-effects have led to the growing use of device-based pain management therapies. Presently, at the country level, economic factors play a significant role in the management of financial implications for hospitals. Postsurgical pain is one of the primary focuses of hospitals, where the cost of monitoring and the treatment of adverse effects creates the major demand for pain management drugs and devices."

Q BioMed Inc. (OTCQB:QBIO) BREAKING NEWS: Q BioMed Announces FDA Approval - Q BioMed announces FDA approval of its contract manufacturer IsoTherapeutics Group LLC (ITG). ITG is now cleared to manufacture the Company's FDA approved non-opioid cancer bone pain drug Strontium-89 Chloride USP.

The long-awaited approval of the facility means that this important oncologic pain drug will soon be available to patients in the US and the rest of the world. Q BioMed is now the only FDA-approved source for this drug in the western world. The Company is activating its planned commercial operations to support marketing, sales, and distribution in the US and, soon, in the rest of the world.