Press release
Chronic Lower Back Pain Drugs Market Size, Share, Industry, and Outlook (2024-2031)
DataM Intelligence
Global Chronic Lower Back Pain Drugs Market Set for Steady Growth, Anticipates High CAGR during 2024-2031
The global chronic lower back pain drugs market is poised for substantial growth, with projections indicating a high Compound Annual Growth Rate (CAGR) throughout the forecast period spanning from 2024 to 2031.
Chronic lower back pain drugs, designed to manage persistent and long-term lower back pain lasting more than 12 weeks, are crucial for individuals grappling with musculoskeletal issues, degenerative conditions, injuries, or structural abnormalities in the spine. These medications aim to alleviate pain, reduce inflammation, and enhance the quality of life for those affected.
Market Scope and Metrics:
CAGR: Anticipated to be high
Size Available for Years: 2021-2030
Forecast Period: 2024-2031
Data Availability: Value (US$)
Segments Covered:
Drug Class
Route of Administration
Distribution Channel
Region
Regions Covered:
North America
Europe
Asia-Pacific
South America
Middle East & Africa
Insights and Analysis Covered:
Competitive Landscape Analysis
Company Profile Analysis
Market Size, Share, Growth
Demand, Recent Developments
Mergers and Acquisitions
New Product Launches
Growth Strategies
Revenue Analysis
Porter's Analysis
Pricing Analysis
Regulatory Analysis
Supply-Chain Analysis
Other Key Insights
To know more Insights Download Sample : https://www.datamintelligence.com/download-sample/chronic-lower-back-pain-drugs-market
Market Dynamics:
Increasing Clinical Trials Drive Growth:
Clinical trials, such as the one conducted by Vertanical GmbH for VER-01 in treating chronic non-specific low back pain, are on the rise. This demonstrates a commitment to expanding treatment options. The potential effectiveness of VER-01, if proven, could significantly impact the market by meeting the demand for more robust treatment choices.
Osteoarthritis Prevalence Boosts Market:
A study in the journal Arthritis & Rheumatology underscores the rising prevalence of Osteoarthritis (OA) worldwide. The increasing cases, particularly in knee and hip joints, emphasize the pressing need for comprehensive pain management strategies. This, in turn, may positively influence the demand for chronic lower back pain drugs, given their efficacy in addressing musculoskeletal-related conditions.
Safety Concerns Present Challenges:
The opioid crisis has cast a shadow over the market, prompting stricter regulations due to the risks associated with drugs like oxycodone and hydrocodone. Safety concerns pose challenges, necessitating a careful balance between pain relief and minimizing potential adverse effects.
Segment Analysis:
NSAIDs Dominate the Market:
Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), constituting approximately 37.6% of the market share, are a preferred choice for managing chronic lower back pain. Ibuprofen, Naproxen, and Celecoxib, among others, showcase proven effectiveness, accessibility, affordability, and patient preference, driving market growth.
Geographical Share:
North America Leads with 40.3% Market Share (2022):
North America claims the largest market share due to the region's increasing prevalence of chronic lower back pain and a surge in clinical trials. Factors such as lifestyle choices, medical conditions, and mental health are contributing to the demand for chronic lower back pain drugs in North America.
Key Market Players:
Major global players contributing to the chronic lower back pain drugs market include Johnson & Johnson Consumer Inc., GSK plc, Bayer, Pfizer Inc., Viatris Inc., Eli Lilly and Company, Sanofi, Novartis AG, Dr. Reddy's Laboratories Ltd., and Sun Pharmaceutical Industries Ltd.
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Contact Us -
Company Name: DataM Intelligence
Email: info@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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