Overview and Scope
Chronic pain refers to persistent or long-lasting pain that continues beyond the normal healing process of an injury or illness. Chronic pain can have various causes, including injuries, underlying medical conditions, nerve damage, inflammation, musculoskeletal disorders, and certain diseases such as arthritis, fibromyalgia, or neuropathy.
Sizing and Forecast
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 in the historic period can be attributed to injury and trauma, surgical procedures, inflammatory conditions, nerve damage and neuropathy, lack of effective treatments.
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 growth in the forecast period can be attributed to aging population, telemedicine expansion, public health awareness, genetic research and precision medicine, psychosocial stressors. Major trends in the forecast period include integration of wearable devices, pain education and support groups, holistic pain management, non-opioid pain management, regenerative medicine for pain.
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Segmentation & Regional Insights
The chronic pain market covered in this report 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 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.
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Major Driver Impacting Market Growth
The prevalence of chronic pain patients is expected to propel the growth of the chronic pain market. Chronic pain patients refer to individuals who experience persistent or long-lasting pain that lasts beyond the normal healing process or persists for an extended period, typically exceeding three months. The high prevalence of chronic pain patients drives the growth of the chronic pain market, as the increasing demand for effective pain management solutions, including pharmaceuticals and medical devices, creates opportunities for innovation and development within the industry. For instance, in April 2023, according to the Morbidity and Mortality Weekly Report (MMWR) published by the Centers for Disease Control and Prevention, a US-based national public health agency, the prevalence of chronic pain among adults in the United States varied between 20.5% and 21.8% in 2021. Additionally, the prevalence of high-impact chronic pain ranged from 6.9% to 7.8% during the same period. Therefore, the prevalence of chronic pain patients is driving the growth of the chronic pain market.
Key Industry Players
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
The chronic pain market report table of contents includes:
1. Executive Summary
2. Chronic Pain Market Characteristics
3. Chronic Pain Market Trends And Strategies
4. Chronic Pain Market – Macro Economic Scenario
5. Global Chronic Pain Market Size and Growth
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31. Chronic Pain Market Other Major And Innovative Companies
32. Global Chronic Pain Market Competitive Benchmarking
33. Global Chronic Pain Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Chronic Pain Market
35. Chronic Pain Market Future Outlook and Potential Analysis
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