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Lower Back Pain Market 2020 Industry Research, Share, Trend, Industry Size, Price, Future Analysis, Regional Outlook To 2026 Research Report | DBMR Updates
Lower Back Pain Market
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Market Analysis: Global Lower Back Pain Market
Global lower back pain market is expected to register a substantial CAGR of 5.2% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased development of novel drugs for lower back pain and increasing cases of chronic lower back pain in various regions globally.
Major Market Competitors/Players :
Few of the major competitors currently working in the global lower back pain market are Pfizer Inc., Johnson & Johnson Services, Inc., Sanofi, Endo Pharmaceuticals Inc., Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd., Vertebral Technologies, Inc., Medtronic, Boston Scientific Corporation, BioWave Corporation, Koninklijke Philips N.V., Stayble Therapeutics AB, Axsome Therapeutics, Inc. , Mesoblast Ltd, ALLERGAN, Frontier Biotechnologies Inc., Astellas Pharma Inc., SpineThera, Inc., CELGENE CORPORATION, Teva Pharmaceutical Industries Ltd. among others.
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Market Definition: Global Lower Back Pain Market
Low back pain (LBP) is a type of muscle tension, musculoskeletal pain, or rigidity located above the gluteal sulcus and below the bottom edge of rib cage. The low back pain can be of three types: acute, sub-acute and chronic. Numerous disorders and diseases which disturb the lumbar region of the spine can cause this type of pain. According to the National Institute of Neurological Disorders and Stroke 2019 report approximately 80 percent adults experience this type of low back pain at some point of time in their lifetimes. According to the American Chiropractic Association report, America spends approximately USD 50,000 million in health care for the low-back pain each year.
Segmentation: Global Lower Back Pain Market
Lower Back Pain Market : By Type of Disease
Acute
Sub-Acute
Chronic
Lower Back Pain Market : By Type
Diagnosis
Treatment
Lower Back Pain Market : By End-User
Hospitals
Orthopaedic Clinics
Ambulatory Surgery Centres
Others
Lower Back Pain Market : By Distribution Channel
Direct
Retail
Lower Back Pain Market : By Geography
North America
Europe
Asia-Pacific
South America
Middle East and Africa
Key Developments in the Lower Back Pain Market :
In July 2018, Pfizer Inc. and Eli Lilly and Company received FDA approval for its tanezumab which can be used in the treatment of chronic low back pain (CLBP) and chronic pain of osteoarthritis (OA) patients. Tanezumab is a new humanized monoclonal antibody. This drug binds and inhibits nerve growth factor (NGF). This is the first NGF inhibitor which has received the Fast Track designation for serious conditions
In July 2016, Relievant Medsystems, Inc. received FDA approval for its Intracept intraosseous nerve ablation system. This device is specially designed to treat chronic lower back pain. This product approval has created a milestone for the company
Lower Back Pain Market Drivers:
Inactive lifestyle is expected to drive the growth of the market
Rising nerve cases can act as a market driver
Rising use of emerging antidepressants is expected to boost the growth of this market
Increasing geriatric population also enhances the market growth
Lower Back Pain Market Restraints:
Unfavourable results of medications is expected to restrict the growth of the market
Stringent regulatory policies, is restricting the overall adoption of these meters
Unavailability of the medication is expected to restrict the growth of the market
Report Highlights :
Detailed overview of parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
Reasons to Purchase this Report :
Current and future of global lower back pain market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report :
All segmentation provided above in this report is represented at country level
All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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