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By 2030, the market for chronic pain is anticipated to reach USD 140.5 billion, growing at a 5.8% CAGR from 2023 to 2030.
Pain that is activated at the nerve system and persists for a few months or a year is what causes chronic pain. Normal definitions of chronic pain include those that last for at least 12 months and are brought on by conditions like cancer, arthritis, or neurogenic pain, however some people experience chronic pain without ever having been injured. Adjuvant analgesics, nonsteroidal anti-inflammatory drugs, and opioid painkillers are some of the medications that are frequently used to manage chronic pain. However, due to increased awareness of the possible negative effects of continuous use of pain relief medications, such as the danger of side effects and addiction, healthcare professionals and patients frequently look for alternative pain relief therapy.
During the COVID 19 outbreak, those who already have illnesses are more likely to experience stress, which raises the need for medication and medical attention. Additionally, hospitals and cancer treatment facilities experienced significant disruptions in medical diagnosis and screening practises. In addition to this, the pandemic has caused a rapid increase in patient consumption of medications such non-steroidal anti-inflammatory pills and opioids. Because of the reopening of hospitals and healthcare facilities, which is expanding the chronic pain industry, the market has therefore experienced favourable development during the second half of 2020.
The worldwide chronic pain industry is being heavily driven by the ageing population, which also includes a growth in opioid use, chronic medical conditions, over-the-counter medicine demand, and a vast network of retail pharmacies. In addition, the prevalence of chronic diseases such osteoarthritis, diabetes, cancer, neuropathy, and multiple sclerosis is boosting market expansion. According to the World Health Organisation (WHO), 10 million people will die from cancer worldwide in the year 2020. In reality, as chronic illnesses are growing more prevalent today, many treatment techniques including physiotherapy, medications, psychiatric therapy, etc. are being employed to lessen discomfort.
The growing acceptance of alternative pain management methods as people become more aware of the risks associated with the widespread use of painkillers has a significant positive impact on the global market for chronic pain.
Report Coverage
Global Chronic Pain research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Chronic Pain report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Chronic Pain competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Chronic Pain market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Chronic Pain market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Chronic Pain market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Eli Lilly and Company, Pfizer Inc., Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Novartis AG, Johnson & Johnson, AstraZeneca PLC, Bristol-Myers Squibb Company, Becton.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Chronic Pain market based on the below-mentioned segments:
Global Chronic Pain Market, By Indication
Global Chronic Pain market, By Product
Global Chronic Pain market, Regional Analysis
Pain that is activated at the nerve system and persists for a few months or a year is what causes chronic pain. Normal definitions of chronic pain include those that last for at least 12 months and are brought on by conditions like cancer, arthritis, or neurogenic pain, however some people experience chronic pain without ever having been injured. Adjuvant analgesics, nonsteroidal anti-inflammatory drugs, and opioid painkillers are some of the medications that are frequently used to manage chronic pain. However, due to increased awareness of the possible negative effects of continuous use of pain relief medications, such as the danger of side effects and addiction, healthcare professionals and patients frequently look for alternative pain relief therapy.
During the COVID 19 outbreak, those who already have illnesses are more likely to experience stress, which raises the need for medication and medical attention. Additionally, hospitals and cancer treatment facilities experienced significant disruptions in medical diagnosis and screening practises. In addition to this, the pandemic has caused a rapid increase in patient consumption of medications such non-steroidal anti-inflammatory pills and opioids. Because of the reopening of hospitals and healthcare facilities, which is expanding the chronic pain industry, the market has therefore experienced favourable development during the second half of 2020.
The worldwide chronic pain industry is being heavily driven by the ageing population, which also includes a growth in opioid use, chronic medical conditions, over-the-counter medicine demand, and a vast network of retail pharmacies. In addition, the prevalence of chronic diseases such osteoarthritis, diabetes, cancer, neuropathy, and multiple sclerosis is boosting market expansion. According to the World Health Organisation (WHO), 10 million people will die from cancer worldwide in the year 2020. In reality, as chronic illnesses are growing more prevalent today, many treatment techniques including physiotherapy, medications, psychiatric therapy, etc. are being employed to lessen discomfort.
The growing acceptance of alternative pain management methods as people become more aware of the risks associated with the widespread use of painkillers has a significant positive impact on the global market for chronic pain.
Report Coverage
Global Chronic Pain research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Chronic Pain report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Chronic Pain competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Chronic Pain market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2020 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2019 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Eli Lilly and Company, Pfizer Inc., Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Novartis AG, Johnson & Johnson, AstraZeneca PLC, Bristol-Myers Squibb Company, Becton. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Chronic Pain Market from 2021 to 2030.
- Market Forecast for Chronic Pain Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Chronic Pain competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Chronic Pain
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Chronic Pain market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Chronic Pain market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Eli Lilly and Company, Pfizer Inc., Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Novartis AG, Johnson & Johnson, AstraZeneca PLC, Bristol-Myers Squibb Company, Becton.
Primary Target Market
- Market Players of Chronic Pain
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. Spherical Insights has segmented the global Chronic Pain market based on the below-mentioned segments:
Global Chronic Pain Market, By Indication
- Neuropathic pain
- Chronic back pain
- Arthritis pain
- Migraine
- Cancer pain
- Fibromyalgia
- Others
Global Chronic Pain market, By Product
- Drugs
- Devices
Global Chronic Pain market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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