Press release
Chronic Lower Back Pain Market: Global Industry Analysis and Forecast (2024 - 2030)
Chronic Lower Back Pain Market
The global chronic lower back pain (CLBP) market, valued at USD 3.15 billion in 2023, is projected to reach USD 5.16 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2030 . This growth is fueled by increasing sedentary lifestyles, technological advancements in treatment options, and heightened awareness of CLBP management.
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◉ Global Chronic Lower Back Pain Market Competitive Landscape
Key players in the CLBP market include:
Pfizer Inc.
Merck & Co., Inc.
Johnson & Johnson
AbbVie Inc.
Eli Lilly and Company
These companies are focusing on developing innovative therapies, including non-steroidal anti-inflammatory drugs (NSAIDs), opioids, and alternative treatments such as chiropractic care and acupuncture, to address the growing demand for effective CLBP management.
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◉ Global Chronic Lower Back Pain Market Regional Demand Highlights
North America currently leads the CLBP market, accounting for the largest revenue share, followed by Europe. The Asia-Pacific region is expected to witness significant growth due to increasing awareness, rising healthcare expenditures, and a growing aging population susceptible to CLBP.
◉ Global Chronic Lower Back Pain MarketCountry-Specific Developments
Growth Opportunities in Vietnam
Vietnam's rapid urbanization and increasing adoption of sedentary workstyles have led to a rise in CLBP cases. The government's focus on improving healthcare infrastructure presents opportunities for market expansion.
Trends in Thailand
Thailand is experiencing a surge in demand for alternative therapies, such as traditional Thai massage and acupuncture, for CLBP management. Integration of these therapies into mainstream healthcare is a notable trend.
Consolidation in Japan
Japanese pharmaceutical companies are consolidating their positions by investing in research and development of advanced CLBP treatments, including regenerative medicine and minimally invasive surgical techniques.
Updation in South Korea
South Korea is updating its healthcare policies to include coverage for alternative CLBP treatments, such as chiropractic care and physical therapy, enhancing accessibility for patients.
Opportunities in Singapore
Singapore's emphasis on digital health solutions is creating opportunities for telemedicine platforms offering CLBP management programs, including virtual physiotherapy sessions and remote monitoring.
Growth in the United States
The U.S. market is witnessing growth due to increased awareness of CLBP and a shift towards non-opioid treatment options, driven by concerns over opioid addiction and regulatory measures.
Trends in China
China is observing a trend towards integrating traditional Chinese medicine with modern CLBP treatments, offering a holistic approach to pain management.
Consolidation in Europe
European countries are consolidating efforts to standardize CLBP treatment protocols across the region, promoting evidence-based practices and improving patient outcomes.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/chronic-lower-back-pain-market/187659/
◉ Chronic Lower Back Pain Market Segmentation
By Drug Class
Non-steroidal Anti-Inflammatory Drugs
Antidepressants
Analgesic
Opioids
Others
Clinical history, Physical examination and Imaging guidelines are the 3 types under segmentation by diagnosis. Clinical history and Physical examination are very common during diagnosis of a treatment. It helps in documentation while Imaging guidelines requires the use of technology to assess the body condition via imaging.
By Route of Administration
Oral
Topical
Others
By Distribution Channel
Hospital Pharmacies
Retail & Online Pharmacies
◉ Recent Mergers and Acquisitions
Johnson & Johnson acquired Aurora Spine Corporation, enhancing its portfolio in minimally invasive spinal treatments.
Pfizer Inc. entered into a strategic partnership with Helixmith Co., Ltd. to develop gene therapy solutions targeting chronic pain conditions, including CLBP.
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◉About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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