Chronic Pain Global Market Report 2024

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.