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Development of New Therapies In Back Pain Therapy Market 2018 - Top Players Celebrex, H.J. Harkins Company, Inc., Pfizer, Inc., Cipla Ltd., Apotex Inc., Jubilant Generics Ltd, Purdue Pharma L.P., Johnson & Johnson, Lupin Ltd., and Teva Pharmaceutical Indu

Back Pain Therapy Market

Back Pain Therapy Market

According to study published by Centre for Disea0se Control and Prevention (CDC) in 2012, around 20.3% of population was suffering from lower back pain in U.S. Moreover, according to study published by American Chronic Association in 2010, around 80% of population is projected to experience back pain once in a life. Therefore, increasing prevalence of back pain is expected to propel demand for back pain treatment, which in turn is expected to drive growth of global back pain therapy market over the forecast period. Furthermore, increasing ageing population is also expected to drive growth of the market, as chances of back pain increases with the age.

According to study published by National Centre for Biotechnology Information (NCBI) in 2015, around 19.6% of individuals aged between 20 to 60 years were suffering from low back pain worldwide. According to the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) 2016, around 547 million people were above 60 years in Asia Pacific region and number is projected to reach around 1.3 billion by 2050. Increasing geriatric population in key regions such as North America, Europe, and Asia Pacific is expected to drive growth of the global back pain therapy market.

Key players
- Celebrex
- H.J. Harkins Company
- Pfizer
- Cipla
- Apotex
- Jubilant Generics
- Purdue Pharma L.P
- Johnson & Johnson
- Lupin
- Teva Pharmaceutical Industries

In 2017, U.S.-based Pfizer Inc. and Eli Lilly and company received the U.S. Food and Drug Administration (FDA) fast track designation for its drug tanezumab, which is indicated for the treatment of chronic low back pain. Tanezumab is a humanized monoclonal immunoglobulin G2 (IgG2), which could be used as an alternative to opioids. The development of such novel drugs in the U.S. is expected to drive growth of the market in North America. Asia Pacific is expected to be the second largest market for global back pain therapy market due to increasing prevalence of back pain in ageing population.

According to a study published by United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, Asia Pacific region constitutes around 60% of the world’s geriatric population. According to study published by World Health Organization (WHO) in 2016, an estimated one out of six people in India are projected to suffer from arthritis once in life.

Back pain therapy market taxonomy -

Back pain therapy market is segmented on the basis of drug type, indication, distribution channel, and geography.

By Drug type-

Non-steroidal anti-inflammatory drugs
Analgesic
Muscle relaxants
Opioids
Others
By Indication-

Herniated disc
Arthritis
Osteoporosis
Fibromyalgia
Chronic Back Pain
Others
By Distribution Channel-

Hospitals
Online Pharmacies
Retail Pharmacies

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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