Pune, December 19, 2022 (GLOBE NEWSWIRE) — According to a report published by Growth Plus Reports the Global chronic pain treatment market has been evaluated 81.36 billion USD in 2021 and is expected to exceed the estimate 191.61 billion USD by 2030, making progress a CAGR 8.81% From 2022 to 2030. The report provides a detailed analysis of the top winning strategies, drivers and opportunities, competitive scenarios, fluctuating market trends, market size, statistics and estimates, and key investment pockets. Treatment of chronic pain is emerging as a promising option for improving the treatment and survival of patients with COVID-19.
The global chronic pain treatment devices market has been assessed from four distinct perspectives, product type, indication, end user, and region.
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Excerpts from the book “Segmentation by Product Type”.
Based on product type, the global chronic pain treatment market is segmented into:
- Analgesic infusion pumps
Further, the drugs segment is sub-segmented into opioids, non-steroidal anti-inflammatory drugs (NSAIDS), anticonvulsants, antidepressants, and others. The pharmaceutical industry is expected to hold the largest market share in 2021. Many chronic pain conditions are on the rise, including lower back pain, intense headache or migraine pain, and facial pain, which is a major driver of market expansion. Additionally, the pain medication market is projected to grow throughout the forecast period on account of rising global geriatric population, sedentary lifestyle, and increasing surgical interventions. In addition, opioids of the sub-segment are considered the most effective drugs for the treatment of chronic pain. Opioids are the main treatment for moderate to severe pain associated with cancer or other serious illnesses. Many medical professional groups recognize the value of opioid therapy, and numerous case studies and extensive surveys show that it is effective in reducing pain, improving function, and having a low risk of addiction.
Excerpts from the book “Division by Instruction”.
In terms of different indications, the global chronic pain treatment market is segmented into:
- Cancer pain
- Arthritic pain
- Acute appendicitis
- Neuropathic pain
- Chronic pain
- Postoperative pain
- Bone fracture
- Muscle strain/strain
Both patients and doctors struggle with the severe condition of musculoskeletal pain. For example, according to the WHO, 20-33% of individuals worldwide suffer from chronic musculoskeletal pain. Regardless of age, gender, or economic status, many adults have experienced one or more musculoskeletal attacks at some point in their lives. About 47% of the total population is affected. Between 39 and 45 percent of them have persistent problems that require medical attention. Also, the most common form of arthritis, osteoarthritis, affects 43% of people under the age of 65, making age an important risk factor. The probability of developing chronic musculoskeletal pain increases with age. Thus, the growth of the elderly population also affects the growth of the global market. The oncology segment is expected to witness the fastest CAGR during the forecast period. The increase in the number of cancer cases has led to an increase in the demand for products designed to reduce pain caused by nerve compression, tumor compression and other factors depending on the course of cancer. Additionally, increasing incidence of genetic diseases such as Acute Lymphoblastic Leukemia (ALL) is expected to drive market expansion during the forecast year.
Excerpts from the book “Division by region”.
The global chronic pain treatment market is spread across North America, Asia Pacific, and Rest of the World. North America is reported to have the highest CAGR in 201. North America’s favorable healthcare infrastructure, which facilitates the acquisition of modern pain treatment equipment, has contributed to the region’s dominance in the global market accounting for over 46.00%. total income. A well-planned reimbursement environment in this region and growing government initiatives such as the Affordable Care Act and precision medicine are also driving industry expansion. Availability of well-established healthcare facilities, geriatric population that is expanding, and high prevalence of hypertension and stroke are other factors driving the regional market. The market is expected to grow faster as the geriatric population grows, as they are more likely to have chronic diseases. The pain management therapy market in Asia Pacific is expected to grow at the fastest rate during the forecast years. The region’s strong market growth is a result of rising healthcare costs, increasing knowledge about neuropathic pain management, and a significant patient base.
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Excerpts from “Competitive Landscape”.
Some of the leading companies in 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 SA
- 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 LP
- Teva Pharmaceutical Industries Ltd
- Merck & Co. Inc.
- Baxter International Inc.
- Allergen Inc.
- Mylan NV.
Frequently Asked Questions (FAQs):
- Who are the main players? 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 SA, Johnson & Johnson Services Inc., WEX Pharmaceuticals, Abbott, Abbottner Laboratories. , Bristol-Myers Squibb Company, Endo Health Solutions Inc., Boehringer Ingelheim.
- Is it? Chronic Pain Treatment Is the Industry Growing?
Answer: Growth Plus Reports states that the market size was USD 81.36 billion in 2021 and is projected to reach USD 191.61 billion by 2030.
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