The Chronic Pain Global Market Report 2023, provides comprehensive information on the chronic pain market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global chronic pain market size is expected to grow from $66.20 billion in 2022 to $72.13 billion in 2023 at a compound annual growth rate (CAGR) of 8.96%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of chronic pain market is expected to reach $97.94 billion in 2027 at a CAGR of 7.95%.
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Alternative pain management technologies are a key trend gaining popularity in the chronic pain market. Companies operating in the chronic pain market are focused on developing innovative portable and user-friendly nerve stimulation devices that use electrical impulses to stimulate nerves and reduce pain, providing a non-invasive pain management option, to sustain their position in the market. For instance, in December 2022, Abbott Laboratories, a US-based healthcare company specializing in diagnostics, medical devices, nutrition, and branded generic pharmaceuticals, launched Eterna, a state-of-the-art spinal cord stimulation (SCS) system that is currently the most compact implantable and rechargeable device available in the chronic pain treatment market. Eterna SCS employs Abbott’s exclusive low-dose BurstDR stimulation, the sole waveform technology with extensive clinical evidence (1A evidence), demonstrating a 23% greater reduction in pain compared to conventional waveform technology approaches.
The chronic pain market 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
North America was the largest region in the chronic pain market in 2022.
The table of contents in TBRC’s chronic pain market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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