Chronic Pain Treatment Market Size (2022-2030)Share,

Pune, Dec. 19, 2022 (GLOBE NEWSWIRE) — As per the report published by Growth Plus Reports the Global chronic pain treatment Market was estimated at US$ 81.36 billion in 2021 and is expected to surpass a valuation of US$ 191.61 billion by 2030, progressing at a CAGR of 8.81 % from 2022 to 2030. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenarios, wavering market trends, market size, statistics & estimations, and major investment pockets. Chronic pain treatment emerges as a promising option for treatment and improving the survival of COVID-19 patients.

The global chronic pain treatment devices market has been evaluated from four different perspectives –product type, indication, end user and region.

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Excerpts from ‘By Product Type Segmentation’

Depending on the product type, the worldwide chronic pain treatments market is segmented as:

• Drugs
• Devices
• Analgesic Infusion Pumps

Further, the drugs segment is sub-segmented into opioids, non-steroidal anti-inflammatory drugs (NSAIDS), anticonvulsants, antidepressants, and others. The drugs industry is estimated to have the largest market share in 2021. Numerous chronic pain diseases are on the rise, including lower back pain, intense headache or migraine pain, and facial agony, which is the main factor driving the market’s expansion. Additionally, it is projected that the market for painkiller medications would grow throughout the forecast period as a result of things like a rising senior population globally, a sedentary lifestyle, and a rise in surgical procedures. Besides, the sub-segment opioids are found to be the most effective drug for the treatment of chronic pain. The primary method for treating moderate to severe pain related to cancer or other major illnesses is opioid medication. Numerous medical professional groups recognize the value of opioid therapy, and numerous case studies and extensive surveys show that it effectively reduces pain, improves function, and has a low risk of addiction.

Excerpts from ‘By Indication Segmentation’

On the basis of different indications perspective, the global chronic pain treatment market is distributed into:

• Cancer Pain
• Arthritic Pain
• Acute Appendicitis
• Neuropathic Pain
• Chronic Pain
• Post-Operative Pain
• Fibromyalgia
• Migraine
• Bone Fracture
• Muscle Sprain/Strain

Both patients and doctors struggle with the hard condition of musculoskeletal pain. For example, according to the WHO, 20-33% of individuals worldwide suffer from chronic musculoskeletal pain. Irrespective of age, gender, or economic situation, many adults have gone through one or more bouts of musculoskeletal pain at some point in their life. About 47% of the overall population is impacted. Of those, between 39 and 45 percent have persistent issues that demand medical attention. Also, the most prevalent form of arthritis, osteoarthritis, affects 43% of people under the age of 65, making age a significant risk factor to consider. The likelihood of developing chronic musculoskeletal pain increases with age. Thus, the rising elderly population is also influencing the growth of the global market. Over the forecast period, the oncology segment is anticipated to have the fastest CAGR. A rise in the number of cancer cases has resulted in a rise in the demand for products designed to lessen the pain brought on by nerve compression, tumor compression and other factors dependent on the course of the cancer. Additionally, the rising incidence of genetic illnesses like Acute Lymphoblastic Leukemia (ALL) is anticipated to fuel market expansion throughout the course of the forecast year.

Excerpts from ‘By Region Segmentation’

The global chronic pain treatment market is disseminated over North America, Asia Pacific regions, and the rest of the world. North America is reported to hold the highest CAGR in 201. The favorable healthcare infrastructure in North America, which makes it simple to get cutting-edge pain management equipment, contributed to the region’s dominance of the global market, accounting for more than 46.00% of total revenue. A well-planned reimbursement environment in this region and growing government initiatives like the Affordable Care Act and Precision Medicine are also fostering industry expansion. The presence of well-established healthcare facilities, an elderly population that is expanding, and a high prevalence of hypertension and stroke are further factors driving the regional market. The market is anticipated to grow more quickly as the older population grows since they are more likely to have chronic illnesses. The market for pain management therapies in Asia-Pacific is anticipated to develop at the quickest rate over the forecasted years. The strong market growth of the region is a result of rising healthcare expenditures, increased knowledge of neuropathic pain management, and a sizable patient base.

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Excerpts from ‘Competitive landscape’

Some of the important companies leading the global chronic pain treatment market are:

• Pfizer Inc.
• Medtronic plc
• Abbott Laboratories
• Boston Scientific Corporation
• Novartis AG
• AstraZeneca plc
• Bristol-Myers Squibb Company
• Becton, Dickinson and Company
• Sanofi S.A.
• Johnson & Johnson Services Inc.
• WEX Pharmaceuticals
• Abbott Laboratories
• Zynerba Pharmaceuticals
• Bristol-Myers Squibb Company
• Endo Health Solutions Inc.
• Boehringer Ingelheim
• Sorrento Therapeutics
• Valeant Pharmaceuticals International Inc.
• Purdue Pharma L.P.
• Teva Pharmaceutical Industries Ltd
• Merck & Co. Inc.
• Baxter International Inc.
• Allergen Inc.
• Mylan NV.

Frequently Asked Questions (FAQs):

1. Who are the key players in the chronic pain treatment Market?

Answer: Pfizer Inc., Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Novartis AG, AstraZeneca plc, Bristol-Myers Squibb Company, Becton, Dickinson and Company, Sanofi S.A., Johnson & Johnson Services Inc., WEX Pharmaceuticals, Abbott Laboratories, Zynerba Pharmaceuticals, Bristol-Myers Squibb Company, Endo Health Solutions Inc., Boehringer Ingelheim.

2. Is the chronic pain treatment Industry growing?

Answer: Growth Plus Reports states that the market size was US$ 81.36 billion in 2021 and is projected to reach US$ 191.61 billion by 2030

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