Pain impulses in the neurological system generate chronic pain, which can last for months or even a year. Chronic pain is defined as pain that lasts for at least 12 weeks. It is typically caused by cancer, arthritis, and neurogenic pain; however, some persons have chronic pain in the absence of any previous damage, which is known as psychogenic pain. Nonsteroidal anti-inflammatory medicines, opioid pain relievers, and adjuvant analgesics are some of the most often used pharmaceuticals for chronic pain. However, patients and healthcare professionals are aggressively researching alternative pain relief therapies as a result of increased awareness about the potential consequences of long-term use of pain treatment medicines, such as the danger of addiction and adverse effects.
The global chronic pain market is estimated to be valued at US$ 64,068 Mn in 2021 and is expected to exhibit a CAGR of 6.9% over the forecast period (2021-2028).
The significant drivers driving market expansion include an increase in the elderly population, an increase in government financing for treatment, and an increase in the prevalence of chronic health disorders. Furthermore, the increased use of pain management solutions such as analgesic infusion pumps and non-opioid pain treatment approaches has supported market expansion.
Initiatives conducted internationally by national and international government organisations to increase awareness and funding for the management of chronic pain play a critical role in the market's growth. For example, in January 2018, the International Association for the Study of Pain established projects in developing nations to promote pain education and practise through funding. These awards are intended to broaden the scope and accessibility of critical pain management education for physicians across all disciplines, with the goal of encouraging the development of new techniques. Thus, an increase in government financing for research on chronic pain management is expected to drive market growth in the next years.
The chronic pain market is divided into product, application, end user, and geographical segments. The market is separated into two categories based on the product: devices and pharmaceuticals. Cancer pain, postoperative pain, low back pain, orthopaedic, neuropathic, fibromyalgia, anaesthetic, cough suppression, diarrhoea suppression, and de-addiction are among the applications covered by the market. The market is divided into three segments based on end user: hospitals, clinics, and research organisations. It is divided into four regions: North America, Europe, Asia-Pacific, and Latin America and the Caribbean.
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