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Chronic Pain Treatment Market Set to Surge with Breakthrough Therapies and Rising Global Demand by 2030 | Top key players - Pfizer Inc., Abbott Laboratories, Eli Lilly and Company.
Chronic Pain Treatment Market
The Chronic Pain Treatment Market, as examined by DataM Intelligence, provides a thorough industry overview enriched with detailed insights, historical data, and essential statistics. The report extensively explores market dynamics and competitive landscapes, featuring profiles of leading companies, their product offerings, pricing strategies, financials, growth plans, and geographic footprint.
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The Chronic Pain Treatment Market encompasses products and therapies aimed at managing persistent pain conditions lasting over three months. It includes pharmaceuticals, devices, and alternative treatments targeting neuropathic, musculoskeletal, and inflammatory pain. Rising aging populations, increased prevalence of chronic diseases, and advancements in pain management technologies are driving market growth globally across healthcare settings, including hospitals, clinics, and home care.
Prominent Industry players in the Chronic Pain Treatment Market
The prominent players in Chronic Pain Treatment market research report are: 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.
The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.
Industry News
On May 16, 2023, Abbott announced that its spinal cord stimulation (SCS) devices received FDA approval for the treatment of chronic back pain, particularly in individuals who are ineligible for back surgery or have not responded to it. This labeling expansion was based on findings from the DISTINCT study, which showed that Abbott's BurstDRTM SCS technology significantly improved patients' pain levels, daily function, and emotional well-being.
On January 11, 2023, CombiGene entered into a collaboration agreement with Danish biotech firm Zyneyro to advance the development of innovative treatments for chronic pain conditions. CombiGene, a gene therapy company, is also developing CG01 for drug-resistant epilepsy and CGT2 for lipodystrophy. Additionally, CombiGene has an exclusive licensing and collaboration deal with Spark Therapeutics, valued at up to USD 328.5 million, to further develop CG01.
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Market Segments
By Indication: Neuropathic Pain, Analgesic Infusion, Ablation Devices.
By Product Type: Drugs, Devices.
By Distribution Channel: Hospital, Clinics, Ambulatory Centers.
The Chronic Pain Treatment industry is undergoing swift expansion, fueled by breakthroughs in medical technology, growing demand for cutting-edge therapies, and an increasing emphasis on patient-centric care. As the sector advances, in-depth market analysis is essential to track evolving trends, regulatory developments, and new opportunities.
Regions Covered:
The global Chronic Pain Treatment Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
FAQs:
✒ What is driving the growth of the Chronic Pain Treatment Market?
✒ Who are the prominent players in the Chronic Pain Treatment Market?
✒ How is the regulatory landscape affecting the Chronic Pain Treatment Market?
✒ What regions are expected to see the highest growth?
✒ What are the key challenges faced by the Chronic Pain Treatment Market?
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