The chronic pain market size has grown strongly in recent years. It will grow from $72.13 billion in 2023 to $78.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historical period can be attributed to various factors, including injuries and trauma, surgical procedures, inflammatory conditions, nerve damage, and neuropathy. Additionally, the historical growth may be influenced by the lack of effective treatments for managing chronic pain in certain cases. These factors collectively contributed to the prevalence and persistence of chronic pain during the historic period.
The chronic pain market size is expected to see strong growth in the next few years. It will grow to $106.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to several factors, including an aging population, the expansion of telemedicine, increased public health awareness, advancements in genetic research and precision medicine, and the recognition of psychosocial stressors contributing to chronic pain. Key trends in the forecast period include the integration of wearable devices for monitoring and managing pain, the promotion of pain education and support groups, the adoption of holistic pain management approaches, the emphasis on non-opioid pain management strategies, and the exploration of regenerative medicine applications for pain relief. These trends collectively contribute to the evolving landscape of chronic pain management.
The chronic pain market is expanding due to the substantial prevalence of individuals experiencing prolonged, persistent pain that extends beyond normal healing periods. This continuous demand for effective pain management solutions, encompassing pharmaceuticals and medical devices, fuels innovation and growth within the industry. For instance, as per the Centers for Disease Control and Prevention's Morbidity and Mortality Weekly Report (MMWR) in April 2023, the prevalence of chronic pain among US adults in 2021 ranged from 20.5% to 21.8%, with high-impact chronic pain ranging from 6.9% to 7.8%. This prevalence underscores the market's growth due to increased demand for pain management solutions.
The aging demographic, characterized by a larger proportion of elderly individuals in society, contributes significantly to the expansion of the chronic pain market. As the population ages, there's an augmented reliance on chronic pain management strategies to address age-related conditions, promoting overall physical and mental well-being. According to the World Health Organization's projections from October 2022, the global population aged 60 years and older is set to double by 2050, reaching 2.1 billion. This trend suggests a continued upsurge in demand for chronic pain management solutions to cater to the needs of the aging population, thereby driving market growth.
Companies in the chronic pain market are actively concentrating on novel and user-friendly nerve stimulation devices employing electrical impulses to alleviate pain. These portable devices provide non-invasive pain management options. For instance, Abbott Laboratories, a prominent US healthcare firm, introduced Eterna in December 2022. Eterna stands as the most compact implantable and rechargeable spinal cord stimulation (SCS) system available. Utilizing Abbott's unique low-dose BurstDR stimulation, it demonstrated a 23% greater pain reduction compared to traditional waveform technologies, supported by extensive clinical evidence (1A evidence).
Major players in the chronic pain market are embracing a strategic partnership approach to introduce a shared savings program aimed at managing chronic pain effectively. This collaborative strategy involves leveraging the combined strengths and resources of involved companies. In August 2023, MOBĒ, a US-based digital health innovator, joined forces with Override Health, a healthcare company in the US. Their shared objective is to address chronic pain management through a program that amalgamates their respective expertise. MOBĒ employs healthcare data analytics for high-touch, one-to-one health coaching and medication management, while Override Health offers virtual interdisciplinary care, neuroplasticity-centered coaching, and peer support to assist individuals navigating the complexities of chronic pain.
In March 2021, the US-based digital health company Hinge Health Inc. successfully acquired Enso for an undisclosed amount. The strategic acquisition was intended to bolster Hinge Health's capabilities in delivering comprehensive digital solutions for chronic musculoskeletal conditions, particularly targeting back and joint pain. By integrating Enso's medical devices into its platform, Hinge Health sought to provide a more holistic and personalized approach to pain management, thereby solidifying its position in the digital health market. Enso, a US-based medical device company, specializes in the development of pain management devices.
Major companies operating in the chronic pain market report are 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.
North America was the largest region in the chronic pain market in 2023. 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. The countries covered in the chronic pain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary products utilized for managing chronic pain are drugs and devices. Drugs refer to substances used for diagnosing, preventing, or treating diseases or medical conditions. Commonly employed medications for chronic pain include opioids and non-steroidal anti-inflammatory drugs (NSAIDs), aimed at alleviating pain symptoms and addressing underlying causes. These drugs are utilized for various indications, including neuropathic pain, arthritis pain, chronic back pain, cancer pain, migraines, fibromyalgia, and others. End-users of these products include hospitals, clinics, and research organizations.
The chronic pain market research report is one of a series of new reports that provides chronic pain market statistics, including chronic pain industry global market size, regional shares, competitors with a chronic pain market share, detailed chronic pain market segments, market trends and opportunities, and any further data you may need to thrive in the chronic pain industry. This chronic pain market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The chronic pain market consists of sales of opioids, nonsteroidal anti-inflammatory drugs (NSAIDs), anticonvulsants, antidepressants, and other analgesics that are used to manage chronic pain. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The chronic pain market size is expected to see strong growth in the next few years. It will grow to $106.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The anticipated growth in the forecast period can be attributed to several factors, including an aging population, the expansion of telemedicine, increased public health awareness, advancements in genetic research and precision medicine, and the recognition of psychosocial stressors contributing to chronic pain. Key trends in the forecast period include the integration of wearable devices for monitoring and managing pain, the promotion of pain education and support groups, the adoption of holistic pain management approaches, the emphasis on non-opioid pain management strategies, and the exploration of regenerative medicine applications for pain relief. These trends collectively contribute to the evolving landscape of chronic pain management.
The chronic pain market is expanding due to the substantial prevalence of individuals experiencing prolonged, persistent pain that extends beyond normal healing periods. This continuous demand for effective pain management solutions, encompassing pharmaceuticals and medical devices, fuels innovation and growth within the industry. For instance, as per the Centers for Disease Control and Prevention's Morbidity and Mortality Weekly Report (MMWR) in April 2023, the prevalence of chronic pain among US adults in 2021 ranged from 20.5% to 21.8%, with high-impact chronic pain ranging from 6.9% to 7.8%. This prevalence underscores the market's growth due to increased demand for pain management solutions.
The aging demographic, characterized by a larger proportion of elderly individuals in society, contributes significantly to the expansion of the chronic pain market. As the population ages, there's an augmented reliance on chronic pain management strategies to address age-related conditions, promoting overall physical and mental well-being. According to the World Health Organization's projections from October 2022, the global population aged 60 years and older is set to double by 2050, reaching 2.1 billion. This trend suggests a continued upsurge in demand for chronic pain management solutions to cater to the needs of the aging population, thereby driving market growth.
Companies in the chronic pain market are actively concentrating on novel and user-friendly nerve stimulation devices employing electrical impulses to alleviate pain. These portable devices provide non-invasive pain management options. For instance, Abbott Laboratories, a prominent US healthcare firm, introduced Eterna in December 2022. Eterna stands as the most compact implantable and rechargeable spinal cord stimulation (SCS) system available. Utilizing Abbott's unique low-dose BurstDR stimulation, it demonstrated a 23% greater pain reduction compared to traditional waveform technologies, supported by extensive clinical evidence (1A evidence).
Major players in the chronic pain market are embracing a strategic partnership approach to introduce a shared savings program aimed at managing chronic pain effectively. This collaborative strategy involves leveraging the combined strengths and resources of involved companies. In August 2023, MOBĒ, a US-based digital health innovator, joined forces with Override Health, a healthcare company in the US. Their shared objective is to address chronic pain management through a program that amalgamates their respective expertise. MOBĒ employs healthcare data analytics for high-touch, one-to-one health coaching and medication management, while Override Health offers virtual interdisciplinary care, neuroplasticity-centered coaching, and peer support to assist individuals navigating the complexities of chronic pain.
In March 2021, the US-based digital health company Hinge Health Inc. successfully acquired Enso for an undisclosed amount. The strategic acquisition was intended to bolster Hinge Health's capabilities in delivering comprehensive digital solutions for chronic musculoskeletal conditions, particularly targeting back and joint pain. By integrating Enso's medical devices into its platform, Hinge Health sought to provide a more holistic and personalized approach to pain management, thereby solidifying its position in the digital health market. Enso, a US-based medical device company, specializes in the development of pain management devices.
Major companies operating in the chronic pain market report are 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.
North America was the largest region in the chronic pain market in 2023. 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. The countries covered in the chronic pain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary products utilized for managing chronic pain are drugs and devices. Drugs refer to substances used for diagnosing, preventing, or treating diseases or medical conditions. Commonly employed medications for chronic pain include opioids and non-steroidal anti-inflammatory drugs (NSAIDs), aimed at alleviating pain symptoms and addressing underlying causes. These drugs are utilized for various indications, including neuropathic pain, arthritis pain, chronic back pain, cancer pain, migraines, fibromyalgia, and others. End-users of these products include hospitals, clinics, and research organizations.
The chronic pain market research report is one of a series of new reports that provides chronic pain market statistics, including chronic pain industry global market size, regional shares, competitors with a chronic pain market share, detailed chronic pain market segments, market trends and opportunities, and any further data you may need to thrive in the chronic pain industry. This chronic pain market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The chronic pain market consists of sales of opioids, nonsteroidal anti-inflammatory drugs (NSAIDs), anticonvulsants, antidepressants, and other analgesics that are used to manage chronic pain. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Chronic Pain Market Characteristics3. Chronic Pain Market Trends and Strategies32. Global Chronic Pain Market Competitive Benchmarking33. Global Chronic Pain Market Competitive Dashboard34. Key Mergers and Acquisitions in the Chronic Pain Market
4. Chronic Pain Market - Macro Economic Scenario
5. Global Chronic Pain Market Size and Growth
6. Chronic Pain Market Segmentation
7. Chronic Pain Market Regional and Country Analysis
8. Asia-Pacific Chronic Pain Market
9. China Chronic Pain Market
10. India Chronic Pain Market
11. Japan Chronic Pain Market
12. Australia Chronic Pain Market
13. Indonesia Chronic Pain Market
14. South Korea Chronic Pain Market
15. Western Europe Chronic Pain Market
16. UK Chronic Pain Market
17. Germany Chronic Pain Market
18. France Chronic Pain Market
19. Italy Chronic Pain Market
20. Spain Chronic Pain Market
21. Eastern Europe Chronic Pain Market
22. Russia Chronic Pain Market
23. North America Chronic Pain Market
24. USA Chronic Pain Market
25. Canada Chronic Pain Market
26. South America Chronic Pain Market
27. Brazil Chronic Pain Market
28. Middle East Chronic Pain Market
29. Africa Chronic Pain Market
30. Chronic Pain Market Competitive Landscape and Company Profiles
31. Chronic Pain Market Other Major and Innovative Companies
35. Chronic Pain Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Chronic Pain Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on chronic pain market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Measure the impact of high global inflation on market growth.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for chronic pain? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: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
Key Companies Mentioned: Pfizer Inc.; Johnson & Johnson; AbbVie Inc.; Novartis AG; Sanofi S.A.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | February 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 78.29 Billion |
Forecasted Market Value ( USD | $ 106.31 Billion |
Compound Annual Growth Rate | 7.9% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |