Market

There is a great demand and an unmet need for an effective, long acting, local non-opiate pain relief product.

  • The 2017 world-wide overall post-operative pain treatment market was estimated at US$12B and is expected to reach in excess of US$45B by the end of 20261
  • Significant unmet need for long-acting local anesthetic agents in order to spare opioids use, their side effects and reduce hospital length of stay due to complications
  • Over 50 million procedures in the US per year
    • Just 10% share provides >$500M in US revenues2
    • Despite the extensive use of opioids and NSAIDs, 74-86% of patients still experience moderate-to-extreme pain after surgery3
  • Study of the global post-operative pain management market reveals a steady growth potential of 4% CAGR during the forecast period of 2017 to 20234
  1. https://www.persistencemarketresearch.com/market-research/postoperative-pain-management-market.asp
  2. https://askwonder.com/research/in-patient-surgeries-performed-us-year-during-2015-2016-2017-qmkm6vxov#:~:text=In%202014%2C%20approximately%2051.4%20million,are%20performed%20throughout%20the%20world.
  3. Gan, et al.,. Incidence, patient satisfaction, and perceptions of post-surgical pain: results from a US national survey. Curr Med Res Opin. 2014;30(1):149–160.
  4. Market Watch Post-Operative Pain Management Market Size Analysis 2019 Report

The Opioid Crisis

Opioid abuse and addiction have reached epidemic proportions in the US. The CDC reports that in 2018, approximately 70,000 people died from drug overdose in the US alone. Most of these deaths were in adults between the ages of 25 and 54 years old which should be their prime productive years.  The economic cost of prescription opioid-related overdose, abuse and dependence exceeds $78.5 billion annually with the majority of costs related to health care, substance abuse treatment, and lost productivity (Med Care. October 2016;54(10):901–906.)

  • 99% of surgical patients receive opioids to manage post-surgical pain (NSDUH, 2017 Data; published Sept. 2018)
  • Opioids dependency can start within 3 days of initial use
  • 6% to 10% of surgical patients discharged with opiate prescription develop an opioid-dependency (Clin Oncol. 2017;35(36):4042–9.)

Intervening in post-operative pain is the first step in limiting the opiate abuse cascade

The only US marketed non-opiate extended relief post-surgical topical product suffers from several shortcomings from high production cost to fragility  and the need for careful handling. Moreover, the physical characteristics of this product require multiple injections which is a burdensome task to the surgeon. In comparison, PRF-110 is based on a simple, easy to manufacture formulation and  is simply applied into the wound, prior to suturing.

11.4 Million

People misused opioids in 2019. 886K used heroin. 562K misused both pain relievers and heroin

2.1 Million

People have an opioid use disorder. 1.7 million people with a prescription pain reliever have a use disorder.

62.6%

Of people listed pain as their main reason for opioid misuse where 36% of people with an opioid problem received a prescription from a healthcare provider

>$80.0 Billion

Per year US economic burden where 40,000 people a year die from opioid related issues