Chronic Pain Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: December 14, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market size value in 2021 |
US$ 81.36 billion |
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Revenue forecast in 2030 |
US$ 191.61 billion |
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Growth Rate |
CAGR of 8.81% from 2022 to 2030 |
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Base year for estimation |
2021 |
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Forecast period |
2022-2030 |
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Segments covered |
Product Type, Indication, End User, and Region |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global chronic pain treatment market was valued at US$ 81.36 billion in 2021 and is expected to register a revenue CAGR of 8.81% to reach US$ 191.61 billion by 2030.
Market Fundamentals
Chronic pain is persistent pain that lasts longer than the typical healing time or coexists with a chronic health condition, like arthritis. Chronic pain can be ongoing or intermittent. People may experience symptoms to the extent that they are unable to work, eat healthfully, engage in physical activity, or simply enjoy life. Chronic pain can be caused by various causes and even after one has recovered from the disease or injury, the pain may persist, or there can be a persistent source of discomfort, such as cancer or arthritis. Many people experience chronic pain without any prior injuries or signs of sickness. There are several different types of strategies that are used to treat chronic pain.
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Market Dynamics
The prevalence of chronic diseases like cancer, osteoarthritis, and diabetic neuropathy as well as the rising older population are the main factors driving the revenue growth of the global market for pain management therapeutics. The demand for opioids as painkillers is also rising in low-income countries due to several government programs to provide palliative care for patients with crippling cancer pain. As a result, it is expected that the increased use of opioids to treat neuropathic pain will accelerate market expansion. In the future, the industry will benefit from the rise in surgical operations as well as rising healthcare costs. Along with these factors, one more important factor that is expected to drive the market revenue growth is the increased use of medications to reduce irregular lifestyle stress and headaches.
However, the market's revenue growth during the projection period may be hampered by restraints such as drug trafficking, the availability of substitutes like pain treatment equipment, and the patent renewal of prescription painkiller medications.
Market Ecosystem
The global chronic pain treatment market is analyzed from four perspectives: product type, indication, end user, and region.
Chronic Pain Treatment Market by Product Type
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Depending on the product type, the global chronic pain treatment market is segmented into drugs, devices, and analgesic infusion pumps.
The drug class is further sub-segmented into opioids, non-steroidal anti-inflammatory drugs (NSAIDs), anticonvulsants, antidepressants, and others.
In 2021, the drug segment accounted for the major share of the market. Several chronic pain conditions, like lower back pain, excruciating headache or migraine pain, and facial discomfort, are becoming more common which is the major reason responsible for the market revenue growth.
Additionally, the market for painkiller drugs is expected to expand during the forecast period due to factors such as an increasing global geriatric population, a sedentary lifestyle, and an increase in surgical operations.
Chronic Pain Treatment Market by Indication
Based on the indication 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, and muscle sprain/strain.
The cancer pain indication accounts for the largest share of the global market in 2021. When a tumor presses on the bones, nerves, or organs the pain in cancer patients is most common. The level of pain may change depending on the affected area. Surgery, radiotherapy, and chemotherapy are all painful procedures. Cancer patients can manage their pain with a variety of medications, which are intended to treat cancer-related discomfort. While some medications are effective at treating all forms of pain, others focus on types of pain and may need a prescription. According to the WHO, 19.3 million cancer cases were reported worldwide in 2020 and it was predicted that by 2040, 30.2 million new cases will be reported. As a result, the cancer chronic pain category not only dominated the market in the past but will continue to do so in the future.
Both patients and doctors struggle with the hard condition of 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. Based on the report of WHO, 20–33% of the world’s population suffers from some variety of chronic musculoskeletal pain, decoding 1.75 billion people. The high prevalence rate of musculoskeletal conditions including osteoarthritis, fibromyalgia, and rheumatoid arthritis will fuel the market revenue growth during the forecast period.
Chronic Pain Treatment Market by End User
Based on end user, the global chronic pain treatment market is segmented into hospitals, clinics & nursing homes.
Among these end users, hospitals are expected to register a high revenue growth rate during the forecast period. The growing need for pain management procedures in hospitals, particularly for post-surgical pain, is driving up the demand for pain management medications and equipment.
Chronic Pain Treatment Market by Region
The global chronic pain treatment is allocated to North America, Europe, Asia Pacific, and the Rest of the World.
North America accounts for the largest revenue share of the global market. The market revenue is growing in North America due to reasons such as the aging population's rising desire for long-term pain management and advancements in the field of pain management.
According to the Centers for Disease Control and Prevention (CDC), chronic pain gets worse with age and it was most common among Americans aged 65 and above. Additionally, the World Health Organization (WHO) indicated in data published in October 2021 that the rate of population ageing is much higher than it was in the past, and by 2030, 1 in 6 individuals worldwide will be 60 years of age or older.
On the other hand, the Asia Pacific region is expected to register the fastest revenue growth during the forecast period, largely due to the region's expanding elderly population, improved healthcare infrastructure, rising per capita income, and increasing prevalence of chronic pain. The number of elderly people in Asia is predicted to double from 395 million in 2019 to 587 million by 2030, according to the United Nations (UN) Department of Economic and Social Affairs report on the world population aging. The prevalence of chronic pain conditions, such as arthritis, neuropathic illnesses, and back pain among the elderly contributes to the demand for medications and medical devices to manage chronic pain.
Competitive Landscape
The predominant companies in the global chronic pain treatment market are:
Strategic Development
Chronic pain is persistent pain that lasts longer than the typical healing time or coexists with a chronic health condition, like arthritis. To treat this pain there are different therapeutics are present in market, for example, nonsteroidal anti-inflammatory medicines, pain relief devices, analgesic pumps etc.
The rising prevalence of chronic disorders, trauma, and hypertension are the key trends governing the revenue growth of the global chronic pain treatment market.
Pfizer Inc., Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, and Novartis AG are among the key companies operating in global chronic pain treatment market.
Drug exploitation, the availability of alternatives like pain treatment devices, and the patent expiration of prescription painkiller medicines are expected to restrain the revenue growth of the global chronic pain treatment market.
The global chronic pain treatment market is expected to register a CAGR of 8.81 % during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain