Mississauga, ON -- (SBWIRE) -- 07/24/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Axxess Pharma Signs MOU with TapouT for Pain Relief Products.”
Companies mentioned in this article include Axxess Pharma Inc. (Pink Sheets:AXXE).
According to a recent Institute of Medicine Report: Relieving Pain in America: A Blueprint for Transforming Prevention, Care, Education, and Research, pain is a problem that costs between $560 billion and $635 billion each year, when all factors, such as lost productivity are considered. Global Industry Analysts estimated in 2011 that more than 1.5 billion people worldwide suffer from chronic pain. That, of course, doesn’t include the likely billions more that suffer from acute pain.
Broadly speaking, the pain-treatment industry is still vastly underserved, in both the OTC and prescription segments. Estimated currently as approximately a $30 billion market, pain relief products are expected to reach $60 billion in 2017, according to GIA in the 2011 report.
Breaking into the space, presents several challenges, especially with brand recognition, but Axxess Pharma Inc. (Pink Sheets:AXXE) has cleared that hurdle in a big way. On Tuesday, the company said that it has entered into a Memorandum of Understanding (MOU) with TapouT, the official apparel of the wildly-popular Ultimate Fighting Championship and arguable the biggest name in Mixed Martial Arts. Started in 1997 by Charles Lewis, Jr. and Dan Caldwell and selling clothes out of the back of a van, TapouT was bought by Authentic Brands Group in 2010 for an undisclosed sum of money. The company now generates about $350 million in annual sales.
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