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Evolving Market Trends In The Chronic Pain Industry: Innovative Portable Nerve Stimulation Devices Transforming Chronic Pain Management Market
Chronic Pain
What Is the Expected Chronic Pain Market Size During the Forecast Period?
The Chronic Pain Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Chronic Pain Market Size During the Forecast Period?
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What Are the High-Growth Segments in the Chronic Pain Market?
The chronic pain market covered in this report is segmented -
1) By Product: Drug, Devices
2) By Indication: Neuropathic Pain, Arthritis Pain, Chronic Back Pain, Cancer Pain, Migraine, Fibromyalgia, Other Indications
3) By End User: Hospitals, Clinics, Research Organization
Subsegments:
1) By Drug: Non-Opioid Analgesics, Opioids, Antidepressants, Anticonvulsants, Topical Analgesics, Corticosteroids
2) By Devices: Transcutaneous Electrical Nerve Stimulation (TENS) Units, Spinal Cord Stimulators, Intrathecal Drug Delivery Systems, Heat And Cold Therapy Devices, Bioelectronic Devices
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What Key Drivers Are Expected to Influence Future Chronic Pain Market Growth?
Anticipated expansion of the chronic pain market is linked to the projected increase in chronic pain patients. These patients are individuals who endure persistent pain beyond the usual healing duration or pain that lingers for a prolonged period, typically over three months. As the number of chronic pain sufferers rises, so does the demand for effective pain management solutions like pharmaceuticals and medical devices, paving the way for innovation and growth within the sector. For example, an Australia-based government agency, the Australian Institute of Health and Welfare, reported in June 2024 that an estimated 4.0 million Australians, or 16% of the population, were living with back issues in 2022. By 2023, back problems had risen to become the third leading cause of disease burden, accounting for 4.3% of the total disease burden in the country. Furthermore, the Institute for Health Metrics and Evaluation, a US-based public health and research institute, published another report in February 2024, which projected the global cases of neck pain to rise to 269 million by 2050 (from 219 to 322 million), a rise of 32.5% (between 23.9% and 42.3%) compared to 2020. As such, the rise in chronic pain patients is fuelling the growth of the chronic pain market.
Which Companies Hold the Largest Share Across Different Chronic Pain Market Segments?
Major companies operating in the chronic pain market include Pfizer Inc., Johnson & Johnson, AbbVie Inc., Novartis AG, Sanofi S.A., Bristol-Myers Squibb Company, Abbott Laboratories, Mitsubishi Chemical Group Corporation, GlaxoSmithKline plc., Eli Lilly and Company, AstraZeneca plc., Becton, Dickinson, and Company, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Biogen Inc., Endo International plc., Noven Pharmaceuticals Inc., Anika Therapeutics Inc., Collegium Pharmaceutical Inc., Heron Therapeutics Inc., Paradigm Biopharmaceuticals Ltd., Braeburn Inc., Taiwan Liposome Company Ltd., Axial Healthcare, AcelRx Pharmaceuticals Inc., Centrexion Therapeutics Corp., Vertanical GmbH, IKI Health Group, Tonix Pharmaceuticals Inc., Paperplane Therapeutics
What Trends Are Driving Growth in The Chronic Pain Market?
There's a rising trend in the chronic pain market, where alternative pain management technologies are being increasingly favored. To maintain their market standing, companies within this sector are concentrating on the creation of innovative, portable, user-friendly nerve stimulation devices. These devices utilize electrical impulses to stimulate nerves and alleviate pain, providing a non-invasive method of pain management. For example, in December 2022, Abbott Laboratories, a US healthcare firm specializing in diagnostics, medical devices, nutrition, and branded generic pharmaceuticals, introduced Eterna. This is a top-tier spinal cord stimulation (SCS) system and currently the most compact implantable and rechargeable device on the market for treating chronic pain. Eterna SCS utilizes Abbott's unique low-dose BurstDR stimulation, the only waveform technology with substantial clinical evidence (1A evidence). It has been shown to reduce pain by 23% more than conventional waveform technology methods.
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What Are the Emerging Geographies for The Chronic Pain Market Growth?
North America was the largest region in the chronic pain market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the chronic pain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Chronic Pain Market?
2. What is the CAGR expected in the Chronic Pain Market?
3. What Are the Key Innovations Transforming the Chronic Pain Industry?
4. Which Region Is Leading the Chronic Pain Market?
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