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Chronic Pain Treatment Market 2014–2024 by Top Key Players Eli Lilly and Company, Boston Scientific, Novartis, Johnson & Johnson, Sanofi
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Key players operating in the global chronic pain treatment market:
• Eli Lilly and Company
• GlaxoSmithKline plc
• Medtronic plc
• Boston Scientific Corporation
• Novartis AG
• Johnson & Johnson
• AstraZeneca PLC
• Bristol-Myers Squibb Company
• Sanofi
*Insights into the market segments
Based on product, the chronic pain treatment market is bifurcated into drugs and devices. The category of drugs is further classified into opioids, non-steroidal anti-inflammatory drugs (NSAIDs), anticonvulsants, antidepressants, and other drugs. Opioids dominate the chronic pain drugs market, with an estimated contribution of 36.5% revenue in 2018. Opioids are considered one of the most effective drug classes for the treatment of chronic pain.
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On basis of indication, the chronic pain treatment market is categorized into neuropathic pain, arthritis pain, cancer pain, chronic back pain, migraine, fibromyalgia, and others. According to the American Academy of Pain Medicine (AAPM), chronic pain affects approximately 1.5 billion people worldwide, on account of the high prevalence of cardiovascular disorders, cancer, and diabetes. During the forecast period, the market is expected to witness the fastest growth in demand for pain treatment products for cancer pain, followed by migraine.
On the basis of distribution channel, the chronic pain treatment market is divided into direct and indirect modes, of which the direct mode of distribution led the market in 2017 with 60.1% revenue contribution. The growing emphasis of drug and device manufacturers on direct sales is driving the market growth in this category.
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During the forecast period, the chronic pain treatment market is expected to witness the fastest growth in the APAC region. This can be mainly attributed to the high prevalence of chronic pain among people in the region. Among all age groups, the elderly are the most susceptible to chronic conditions, such as arthritis, neuropathic disorders, and back pain. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the number of aged people in the region is expected to increase twofold, from 535 million in 2015 to 1.3 billion by 2050.
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