Global Chronic Pain Market Size US$ 143.2 Billion By 2030 & Forecast | Leading Therapies and Providers

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

The Chronic Pain Treatment Market report, released by DataM Intelligence, offers comprehensive insights and thorough analysis of major market trends, growth prospects, and emerging challenges. With a strong focus on actionable intelligence, DataM Intelligence equips businesses with the knowledge needed to make strategic decisions and maintain a competitive advantage. Utilizing a blend of qualitative and quantitative research methodologies, the firm delivers in-depth reports that support clients in understanding complex market dynamics, fostering strategic development, and capturing new opportunities in today's rapidly changing global environment.

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Evolving Market Forces and Opportunities:

Chronic pain treatment involves a variety of medical, physical, and psychological therapies aimed at managing persistent pain that lasts for weeks to years. It may include medications, physical therapy, lifestyle modifications, nerve blocks, and alternative therapies like acupuncture and mindfulness-based interventions.

Key Industry Players Driving 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 the U.S. Food and Drug Administration (FDA) had approved its spinal cord stimulation (SCS) devices for the treatment of chronic back pain. These devices are particularly beneficial for patients who are not candidates for surgical interventions or have not responded to surgery. The expanded labeling was backed by data from the DISTINCT study, which showed that Abbott's proprietary BurstDR SCS technology significantly improved pain relief, daily function, and emotional well-being in patients with chronic back pain.

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

Research Methodology:

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 Indication: Neuropathic Pain, Analgesic Infusion, Ablation Devices

By Product Type: Drugs, Devices

By Distribution Channel: Hospital, Clinics, Ambulatory Centers

Regional Overview for Chronic Pain Treatment Market:

⇥ 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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