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Chronic Lower Back Pain Market Expands with Advanced Therapies, Key Drivers, and Positive Growth Outlook
Chronic Lower Back Pain Market
Chronic Lower Back Pain Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $9.27 billion In 2028 At A CAGR Of 4.9%.
The chronic lower back pain market size has grown strongly in recent years. It will grow from $7.3 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to sedentary lifestyles, manual labor and occupational risks, medical advancements in diagnosis, pain management evolution, epidemiological studies..
The chronic lower back pain market size is expected to see steady growth in the next few years. It will grow to $9.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to rise in non-pharmacological interventions, preventive healthcare initiatives, focus on holistic treatments, regenerative medicine development, aging population trends.. Major trends in the forecast period include focus on non-pharmacological interventions, shift in pain management approaches, healthcare awareness and education, telemedicine and remote monitoring, integration of regenerative medicine..
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Chronic Lower Back Pain Market Major Segments
The chronic lower back pain market covered in this report is segmented -
1) By Type of Pain: Diskogenic Pain, Lumbar Spinal Stenosis, Sacroiliac Pain, Facet-Joint Pain, Radicular Pain, Muscular Pain, Other Types Of Pain
2) By Diagnosis: Clinical History, Physical Examination, Imaging Guidelines, Assessment of Pain
3) By End-User: Hospitals, Orthopaedic Clinics, Ambulatory Surgery Centres, Other End-Users
Key Driver - Understanding Nerve Instances And Their Impact On Chronic Lower Back Pain Market Growth
An increase in the frequency of nerve instances is expected to propel the growth of the chronic lower back pain market. Nerve instances refer to specific occurrences or situations where someone displays bravery, courage, or resilience in the face of a challenging or daunting circumstance. Continuous exposure to stress and pain might lead to a phenomenon called central sensitization. This essentially means the nervous system becomes hypersensitive, perceiving pain more intensely, even in the absence of an actual injury. For instance, in July 2023, according to Nature, a UK-based weekly scientific journal, the prevalence of peripheral neuropathy, which is associated with nerve damage, is reported to be 28.4% in adults aged 40 or older with diabetes and 11.8% in those without diabetes. Therefore, an increase in the frequency of nerve instances is driving the growth of the chronic lower back pain market.
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Prominent Trend - Rising Focus On Advance Drug Development To Boost Revenue
Major Companies operating in the chronic lower back pain market are focusing on developing innovative drugs to treat their customers and sustain their position in the market. The development of new drugs can improve treatment outcomes for patients with various diseases. For instance, in July 2022, Amneal Pharmaceuticals, a US-based pharmaceutical company, launched LYVISPAH, a baclofen oral granule (5, 10, and 20 mg) approved by the U.S. Food and Drug Administration (FDA) for the treatment of spasticity that is related to multiple sclerosis and other spinal cord disorders. LYVISPAH treats and relieves flexor spasms and associated pain, clones, and muscular rigidity. It provides flexible, tailored dosage with single-dose packages of granules in doses of 5 mg, 10 mg, and 20 mg and is bioequivalent to oral baclofen tablets. Patients with spinal cord injuries and other spinal cord diseases may also benefit from using LYVISPAH.
Chronic Lower Back Pain Market Players
Major companies operating in the chronic lower back pain market report are Pfizer Inc., Johnson & Johnson Private Limited, Sanofi S.A., Endo Pharmaceuticals plc, Merck Corporation, Vertebral Technologies Inc., Medtronic plc, Boston Scientific Corporation, BioWave Corporation, Koninklijke Philips N.V., Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., SpineThera Inc., Dr. Reddy's Laboratories Ltd., Celgene Corporation, Axsome Therapeutics Inc., Mesoblast Limited, Frontier Biotechnologies Inc., Eli Lilly and Company, Persica Pharmaceuticals, Abbott Laboratories, Hisamitsu Pharmaceutical Co. Inc., Ipsen S.A., Daiichi Sankyo Company Ltd., Zimmer Biomet Holdings Inc., Novartis International AG, Janssen Pharmaceuticals Inc., Insys Therapeutics Inc., Collegium Pharmaceutical Inc., Cara Therapeutics Inc. .
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Largest And Fastest Growing Region In The Market
North America was the largest region in the chronic lower back pain market in 2023. The regions covered in the chronic lower back pain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chronic Lower Back Pain Market Report Structure
3. Chronic Lower Back Pain Market Trends And Strategies
4. Chronic Lower Back Pain Market - Macro Economic Scenario
5. Chronic Lower Back Pain Market Size And Growth
…..
27. Chronic Lower Back Pain Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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