The Chronic Pain Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Himanshu Patni
- November 19, 2022
- Chronic Pain Market, Chronic Pain Market Growth, Chronic Pain Market Share, Chronic Pain Market size, Chronic Pain Market Trends
- 0 Comments
Chronic pain has a significant impact on patient health and on the resource costs of healthcare providers. Ensuring chronic diseases are appropriately diagnosed and treated is essential in order to prevent unnecessary suffering for patients. Proper chronic pain treatment prevents infection and long-term complications and also helps speed up the healing process. According to the center for disease (CDC), control 6 out of 10 American people are diagnosed with at least one chronic disease like heart disease, stroke, or cancer. These and other chronic diseases are major causes of death in the U.S., for instance, according to the CDC, the prevalence of chronic pain and high-impact chronic pain in the U.S., an estimated 20.0% (50.0 million) of U.S. adults had chronic pain and 8.0% of U.S. adults (19.6 million) had high-impact chronic pain, with higher prevalences of both chronic pain and high-impact chronic pain reported among women, older, adults.
The demand for chronic pain treatment products is increasing owing to an increasing geriatric population, and the rising prevalence of chronic diseases across the globe. Furthermore, the increasing incidence of osteoarthritis, fibromyalgia, trauma, and back pain due to a sedentary lifestyle is one of the leading factors contributing to market growth. Thus, the market is expected to witness a CAGR of ~7% during the forecast period.
For a detailed analysis of the market drivers of the Chronic Pain Market browse through – https://univdatos.com/report/chronic-pain-treatment-market/
Based on product type, the market is bifurcated into drugs and devices. In 2020, the drug category accounted for a larger share market share. This can be mainly attributed to the rising geriatric population across the globe coupled with the increasing prevalence of different types of chronic diseases such as severe headaches, and lower back pain. Furthermore, due to the growing geriatric population across the world, sedentary lifestyle, and rising number of surgical procedures, the market for pain killer drugs is further expected to grow in the forecast period.
On the basis of application, the market has been bifurcated into neuropathic pain, arthritis pain, chronic back pain, cancer pain, migraine, fibromyalgia, and others. In 2020, the cancer pain segment held the largest share and is anticipated to witness a considerable growth rate over the forecast period. The increasing number of geriatric populations, along with the rising prevalence of cancer is expected to drive the segment growth. For instance, according to the American Society of Clinical Oncology, lung cancer is the second most common cancer and approximately 235,760 adults (119,100 men and 116,660 women) in the United States will be diagnosed with lung cancer by the end of 2021.
For a detailed analysis of the product types of the Chronic Pain Market browse through
For a detailed analysis of the product types of the Chronic Pain Market browse through – https://univdatos.com/report/chronic-pain-treatment-market/
Based on end-users, the global market is categorized into hospitals & clinics, nursing homes, and research centers. In 2020, the hospitals and clinics end-user category held a significant share in the market and is expected to grow with a strong CAGR during the forecast period (2021-2027F). The growth of this segment is due to the large number of treatment procedures conducted in hospitals and the easy availability of reimbursements.
For a better understanding of the market, the report provides a detailed analysis of major regions and countries including By region North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Spain, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Rest of Asia-Pacific) and Rest of World). North America accounted for the largest market share in 2020. The large share of this region’s market can be attributed to the growing prevalence of chronic conditions resulting in chronic, and post-surgical complications. In addition, the surging number of cancer cases, presence of strong healthcare infrastructure and industry players, increasing FDA approvals along with strategic alliances and high investment in research and development activities are some other crucial factors proliferating the North American chronic pain treatment market.
Request for Sample of the report browse through – https://univdatos.com/get-a-free-sample-form-php/?product_id=22629
Some of the major companies operating in the global chronic pain treatment market include Eli Lilly and Company, Pfizer Inc., Abbott Laboratories, Medtronic Plc., Boston Scientific Corporation, Novartis AG, Johnson & Johnson, AstraZeneca PLC, Sanofi S.A., Becton, Dickinson and Company.
Chronic pain market Segmentation
Market Insight, by Product Type
- Non-steroidal Anti-inflammatory Drugs (NSAIDs)
- Neurostimulation Device
- Ablation Devices
- Radiofrequency Ablation Devices
- Cryoablation Devices
- Neurostimulation Device
Market Insight, by Application
- Neuropathic pain
- Arthritis pain
- Chronic back pain
- Cancer Pain
Market Insight, by End-Users
- Hospital & Clinics
- Nursing Homes
- Research Centers
Market Insight, by Region
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Eli Lilly and Company
- Pfizer Inc.
- Abbott Laboratories
- Medtronic Plc.
- Boston Scientific Corporation
- Novartis AG
- Johnson & Johnson
- AstraZeneca PLC
- Sanofi S.A.
- Becton, Dickinson and Company