Chronic Pain can be define as pain that persists past normal healing time. The chronic pain in one or more anatomical regions that persists or recurs for longer than 3 months and is associated with significant inflammation or dysfunctional nerves. This type of pain continue even after the injury or illness is healed or gone away. Pain signals remain active in the nervous system for weeks, months or years. The persistence beyond normal healing may apply to pain after surgery and the concept of lack of warning function to migraine headaches. Certain treatment for chronic pain includes medication, acupuncture, electrical stimulation, cognitive behavioral therapy and surgery. Moreover, patients as well as healthcare professionals are proactively exploring alternative pain relief therapies and medication which is propelling the growth of chronic pain market
CHRONIC PAIN MARKET REPORT OUTLOOK
The factors driving the growth of chronic pain market is upsurge in geriatric population with increased incidence of functional impairment and other disease. For instance, 75% of people age 65 and older have 2 or more chronic conditions such as heart disease, diabetes, chronic lung disease, or arthritis. Besides increase in government funding for treatment management of chronic pain is key factor for the growth of market. Also, rise in prevalence of chronic health conditions is boosting demand for chronic pain market. Moreover, Increase in adoption of pain management solutions for better recovery is playing pivotal role for growth of chronic pain market.
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COVID 19 IMPACT ON CHRONIC PAIN MARKET REPORT
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the chronic pain market. In addition, complete analysis of changes on the chronic pain market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the chronic pain market was moderate due to decrease in patient inflow in hospital has ultimately hamper the growth of chronic pain market
CHRONIC PAIN MARKET SEGMENTAL OVERVIEW
The chronic pain market is segmented based on by type, by application, by end user, by distribution channel and geography
CHRONIC PAIN MARKET BY TYPE
The chronic pain market are available in different types including drugs, devices
Drugs is further bifurcated to opioids, non-steroidal anti-inflammatory drug, anticonvulsants, and antidepressants. Besides, devices is further bifurcated to neurostimulation devices, analgesic infusion pumps, ablation devices. Drugs dominated the chronic pain market and anticipated to lead in the market due to rising geriatric population and increasing cases of surgical procedures. Also, increasing prevalence of lower back pain and migraine, cancer pain, arthritis pain is also playing major role for growth of the market.
CHRONIC PAIN MARKET BY APPLICATION
The chronic pain finds its application in neuropathic pain, arthritis pain, chronic back pain, cancer pain, migraine, fibromyalgia
Cancer pain is expected to witness the highest growth during the forecast period owing to increasing number of different cancer due to growing genetic predisposition, tobacco use and alcohol excess, lack of physical activity, environment and diet, sun exposure. Beside prevalence of pain at the time of cancer diagnosis and early in the course of disease is estimated to be approximately 50%, increasing to 75% at advanced stages which increasing the demand for chronic pain market
CHRONIC PAIN BY END USER
The chronic pain has major end user in clinics, hospital, and research organization
Hospital has the largest end use of chronic pain products due to increasing number of surgical procedures around the world. Moreover, pain treatment practices are mostly performed in hospitals, particularly for post-surgical pain besides patient inflow in hospital is fueling the demand for chronic pain market
CHRONIC PAIN BY DISTRIBUTION CHANNEL
The global chronic pain market have major distribution through following channel like hospital pharmacies, retail pharmacies, online pharmacies
Hospital pharmacies followed by retail pharmacies is expected to remain dominate during the forecast period. Moreover, increasing sale of this chronic pain products through channel is boosting the growth of market.
CHRONIC PAIN MARKET BY GEOGRAPHY
Geographically the global chronic pain market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW)
North America is expected to lead in the global chronic pain market owing to increasing awareness among consumers and high prevalence of chronic diseases is fueling the regional growth. In addition increasing number of treatment and clinics is further boosting the growth of chronic pain market. Whereas Asia Pacific is anticipated to witness the growth at highest pace attributing to growing technologically advanced products. Besides increasing government organizations support for healthcare providers to be able to offer chronic pain management services is further emerging the growth of the market in the region. In addition increasing geriatric population is major factor for the growth of the chronic pain market in Asia Pacific. For, instance chronic pain affects almost 10 percent of the world's population approximately 60 million people with estimates of chronic pain prevalence closer to 20-25 percent in some countries and regions.
CHRONIC PAIN MARKET KEY PLAYER
The key players in chronic pain market are Abbott Laboratories, AbbVie Inc. , Astellas Pharma Inc., AstraZeneca PLC, Becton, Boston Scientific Corporation, Bristol-Myers Squibb Company, Eli Lilly and Company, Johnson Johnson, Medtronic Plc., Novartis AG, Pfizer Inc., Sanofi and Teva Pharmaceutical Industries Ltd among others.
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