$150+ Billion Chronic Pain Treatment Market - Global Industry Analysis and Growth Forecast to 2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 27, 2020--
The “Chronic Pain Treatment Market Research Report: By Product, Indication, Application, Distribution Channel, End User - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com’s offering.
The global chronic pain treatment market is predicted to progress at a CAGR of 6.5% from 2020 to 2030 and generate a revenue of $151.7 billion in 2030.
The factors fueling the expansion of the market are the rising implementation of favorable policies by various governments, soaring geriatric population and the subsequent rise in the need for elderly care, and the growing incidence of chronic diseases across the world.
The drugs category is further divided into NSAIDs (non-steroidal anti-inflammatory drugs), opioids, antidepressants, and anticonvulsants. Out of these, the opioids are predicted to register the highest growth in the chronic pain treatment market in the upcoming years, on account of the extensive utilization of these drugs for relieving pain, reducing sprains and strains and inflammation, and reducing the body temperature.
On the other hand, the devices category is classified into ablation devices, analgesic infusion pumps, and neurostimulation devices. Amongst these, the neurostimulation devices category registered the highest growth in the market in the years gone by. This was due to the high public awareness about these devices in various countries and the high popularity of these devices among both patients and doctors around the world.
Globally, the chronic pain treatment market recorded the highest growth in North America during the past few years and this trend would continue in the forthcoming years as well. This would be a result of the growing geriatric population, the existence of several chronic pain management medicines and devices and the rising prevalence of chronic diseases in the region.
The players operating in the chronic pain treatment market are increasingly focusing on product launches for gaining foothold in the market. For example, the FDA approved Voltaren Arthritis Pain, which has been recently developed by GlaxoSmithKline plc, in February 2020.
This product provides temporary relief to the patient from arthritis pain and is suitable for people in the age group 18 years and above. The FDA approval made this product the first prescription-strength NSAID topical gel for arthritis pain available OTC in the U.S.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Product
4.1.1.1 Drugs
4.1.1.1.1 Opioids
4.1.1.1.2 NSAIDs
4.1.1.1.3 Anticonvulsants
4.1.1.1.4 Antidepressants
4.1.1.1.5 Others
4.1.2 By Devices
4.1.2.1 Neurostimulation devices
4.1.2.1.1 SCS
4.1.2.1.2 TENS
4.1.2.1.3 Others
4.1.2.2 Analgesic infusion pumps
4.1.2.3 Ablation devices
4.1.2.3.1 Radiofrequency ablation devices
4.1.2.3.2 Cryoablation devices
4.1.3 By Indication
4.1.3.1 Neuropathic pain
4.1.3.2 Arthritis pain
4.1.3.3 Chronic back pain
4.1.3.4 Cancer pain
4.1.3.5 Migraine
4.1.3.6 Fibromyalgia
4.1.3.7 Others
4.1.4 By Application
4.1.4.1 Musculoskeletal
4.1.4.2 Neuropathy
4.1.4.3 Oncology
4.1.4.4 Others
4.1.5 By Distribution channel
4.1.5.1 Direct
4.1.5.2 Indirect
4.1.6 By End User
4.1.6.1 Hospitals
4.1.6.2 Clinics
4.1.6.3 Nursing homes
4.1.6.4 Research centers & universities
4.1.6.5 Others
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Innovations in the field of pain management
4.2.1.2 Increasing number of product approvals
4.2.2 Drivers
4.2.2.1 Increasing government support for chronic pain management
4.2.2.2 Growing geriatric population
4.2.2.3 Surging prevalence of chronic health conditions
4.2.2.4 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Side effects associated with pain management drugs and devices
4.2.3.2 Product recalls
4.2.3.3 Patent expiry of blockbuster chronic pain treatment drugs
4.2.3.4 Increasing usage of opioids and antidepressants
4.2.3.5 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Untapped markets in developing economies
4.3 Porter’s Five Forces Analysis
4.4 Impact of COVID-19
Chapter 5. Industry Insights
5.1 Epidemiological Analysis of Chronic Pain Indications
5.1.1 North America
5.1.2 Europe
5.1.3 Japan
5.1.4 China
5.2 Pricing and Reimbursement Scenario
5.2.1 Pricing
5.2.2 Reimbursement Scenario
5.2.2.1 U.S.
5.2.2.2 Europe
5.2.2.3 Japan
5.3 Research Funding and Government Initiatives
5.4 Pipeline Drugs for Chronic Pain
5.5 Key Products Expected to be Launched
5.6 Treatment
Chapter 6. Global Market Size and Forecast
6.1 By Product
6.1.1 Chronic Pain Drugs Market, by Type
6.1.2 Chronic Pain Devices Market, by Type
6.1.2.1 Neurostimulation devices market for chronic pain treatment, by type
6.1.2.2 Ablation devices market for chronic pain treatment, by type
6.2 By Indication
6.3 By Application
6.4 By Distribution Channel
6.5 By End User
6.6 By Region
Chapter 7. North America Market Size and Forecast
Chapter 8. Europe Market Size and Forecast
Chapter 9. APAC Market Size and Forecast
Chapter 10. LATAM Market Size and Forecast
Chapter 11. MEA Market Size and Forecast
Chapter 12. Competitive Landscape
12.1 Product Benchmarking of Key Players
12.2 Global Strategic Developments of Key Players
Chapter 13. Company Profiles
13.1 Business Overview
13.2 Product and Service Offerings
13.2.1 Marketed products
13.2.2 Pipeline products
13.3 Key Financial Summary
- Eli Lilly and Company
- GlaxoSmithKline plc
- Pfizer Inc.
- Medtronic plc
- Abbott Laboratories
- Boston Scientific Corporation
- Novartis AG
- Johnson & Johnson
- AstraZeneca plc
- Bristol-Myers Squibb Company
- Becton, Dickinson and Company
- Sanofi S.A.
For more information about this report visit https://www.researchandmarkets.com/r/f9vnpi
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KEYWORD:
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 11/27/2020 11:49 AM/DISC: 11/27/2020 11:49 AM
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