New Chronic Pain Treatment Market Trends Driving Industry Growth To Reach US$ 143.2 Bn By 2030 | Pfizer Inc., Abbott Laboratories, Eli Lilly and Company, Novartis AG, Johnson & Johnson

Latest Research Study on Chronic Pain Treatment Market

Global Chronic Pain Treatment Market reached US$ 83.8 billion in 2022 and is expected to reach US$ 143.2 billion by 2030 growing with a CAGR of 7.1% during the forecast period 2024-2031

Chronic Pain Treatment Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Chronic pain treatment involves a combination of medications, physical therapy, lifestyle changes, and advanced medical procedures to manage long-term pain. Common treatments include NSAIDs, opioids, nerve blocks, and alternative therapies like acupuncture and cognitive behavioral therapy. Innovations in neuromodulation, regenerative medicine, and medical are transforming pain management. A personalized approach is essential to improve patient outcomes and enhance quality of life.

List of the Key Players in the Chronic Pain Treatment Market:

Pfizer Inc., Abbott Laboratories, Eli Lilly and Company, Novartis AG, Johnson & Johnson, Sanofi SA, Teva Pharmaceutical Industries Ltd, Baxter International, Merck & Co. Inc, Boston Scientific Corporation among others.

Industry Development:

On May 16, 2023, Abbott announced that its spinal cord stimulation (SCS) devices received approval from the U.S. Food and Drug Administration (FDA) for treating chronic back pain. This device is primarily intended for individuals who are ineligible for or have not undergone back surgery. The approval was based on findings from a distinct study, which demonstrated that Abbott's proprietary BurstDR SCS technology effectively reduces pain, enhances daily activity performance, and improves emotional well-being in individuals with chronic back pain.

On January 11, 2023, CombiGene entered a collaboration agreement with Danish Zyneyro to further develop treatments for chronic pain conditions. CombiGene's gene therapy pipeline includes CG01, designed for drug-resistant epilepsy treatment, and CGT2, aimed at treating lipodystrophy. Additionally, CombiGene signed an exclusive collaboration and licensing agreement worth up to USD 328.5 million with U.S.-based Spark Therapeutics to advance the development of CG01.

Growth Forecast Projected:

The Global Chronic Pain Treatment Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Chronic Pain Treatment Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Chronic Pain Treatment Market:

By Product Type: Drugs, Opioids, Non- Steroidal Anti-Inflammatory Drugs (NSAIDs), Anticonvulsants, Antidepressants, Others, Devices, Neurostimulation Device, Analgesic Infusion, Ablation Devices

By Indication: Neuropathic Pain, Arthritis Pain, Chronic Back Pain, Cancer, Migraine, Others

By Distribution Channel: Hospitals, Clinics, Ambulatory Surgical Centers

Regional Analysis for Chronic Pain Treatment Market:

The regional analysis of the Chronic Pain Treatment Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Chronic Pain Treatment market?

➠ Who are the leading manufacturers in the global Chronic Pain Treatment industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Chronic Pain Treatment industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Chronic Pain Treatment market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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