Health Technology World

Chronic Pain Market Examines Growth Overview and Predictions On Size, Share and Trend Through 2024

Chronic Pain Market
Chronic Pain Market
Press Release

Chronic pain is caused by pain signals in nervous system that can persist for months, even for a year. Pain that lasts at least 12 weeks is usually considered to be chronic pain. It is commonly caused due to cancer, arthritis, and neurogenic pain, however, some people suffer from chronic pain in the absence of any past injury commonly caused as psychogenic pain. Some of the commonly used medications for chronic pain are  nonsteroidal anti-inflammatory drugs, opioid pain relievers, and adjuvant analgesics. However, patients as well as healthcare professionals are proactively exploring alternative pain relief therapies, owing to surge in awareness about potential implications of prolonged use of pain treatment drugs such as risk of addiction and side effects.

Upsurge in geriatric population, increase in government funding for treatment, and rise in prevalence of chronic health conditions are the notable factors that drive the market growth. Furthermore, increase in adoption of pain management solutions such as analgesic infusion pumps and non-opioids pain treatment methods has fueled the growth of the market.

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Initiatives implemented by the national and international government organizations, globally for incasing awareness and funding for the management of chronic pain play pivotal role in the growth of the market. For instance, the International Association for the Study of Pain launched projects in developing countries in January 2018 to increase pain education and practice in developing countries by providing grants. These grants are intended to improve the scope and availability of essential education of clinicians involved in pain treatment and working in all disciplines to encourage development of innovative approaches. Thus, increase in government funding pertaining to the study on chronic pain treatment is anticipated to boost the growth of the market in the coming years.

The chronic pain market is segmented based on product, application, end user, and region. Depending on product, the market is divided into devices and drugs. The applications covered in the market include cancer pain, postoperative pain, low back pain, orthopedic, neuropathic, fibromyalgia, anesthesia, cough suppression, diarrhea suppression, and de-addiction. On the basis of end user, the market is classified into hospital, clinics, and research organization. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key players are seeking approvals for various drugs used in treatment of chronic pain. For instance, in November 2018, Eli Lilly and Company submitted a new drug application to the United States Food and Drugs Administration for lamifiban, for the treatment of migraine with or without aura, stage of migraine, in adults. The key manufacturers operating in the chronic pain treatment industry include Eli Lilly and Company, Pfizer Inc., Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Novartis AG, Johnson & Johnson, AstraZeneca PLC, Bristol-Myers Squibb Company, and Becton.

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Key Benefits for Stakeholders

  • This report provides a detailed quantitative analysis of the current trends and future estimations from 2018 to 2025, which assists to identify the prevailing chronic pain market opportunities.
  • An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of the factors that drive and restrain the growth of the global chronic pain market is provided.
  • Region-wise and country-wise chronic pain market conditions are comprehensively analyzed in this report.
  • Key market players within the chronic pain market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the global chronic pain market.

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