Chronic Pain Treatment Market Analysis, Growth Opportunities and Recent Trends by Leading Manufacturers & Regions
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Chronic pain treatment products are used in several application areas, including musculoskeletal, neuropathy, and oncology. Musculoskeletal indications constitute the largest application area of these products and are estimated to generate revenue of $31.8 billion in the chronic pain treatment market in 2018. This can be mainly attributed to the high prevalence of musculoskeletal disorders, such as osteoarthritis, back pain, and rheumatoid arthritis, across the globe.
On the basis of distribution channel, the chronic pain treatment market is divided into direct and indirect modes, of which the direct mode of distribution led the market in 2017 with 60.1% revenue contribution. The growing emphasis of drug and device manufacturers on direct sales is driving the market growth in this category.
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Hospitals; clinics; nursing homes; and research centers and universities are the major end users in the chronic pain treatment market. Hospitals are the largest end users of chronic pain treatment products and are estimated to hold 39.7% market share in 2018. Pain treatment practices are more frequently performed in hospitals, particularly for post-surgical pain. Thus, with the growing number of surgical procedures around the world, hospitals are expected to continue generating a high demand for chronic pain treatment products.
Some of the key players operating in the global chronic pain treatment market are Eli Lilly and Company; GlaxoSmithKline plc; Medtronic plc; Boston Scientific Corporation; Novartis AG; Johnson & Johnson; AstraZeneca PLC; Bristol-Myers Squibb Company; Becton, Dickinson and Company; and Sanofi.
Source: P&S Intelligence
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