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Currently, there too many deaths and side-effects reported due to over use of opioids. The shift from opioid to non-opioid is already happening. It is fair to state that a majority of the patients will use non-opioids rather than opioids in the next ten years
-Director, US based device manufacturer
The global chronic pain treatment market is estimated to be worth $7.3 billion, growing at a CAGR of 49% till 2025. Chronic pain refers to the psychophysiological response to an underlying clinical condition, which is observed to persist for a duration greater than six months and is generally unresponsive to multiple treatment regimens. It is estimated that more than 1.5 billion individuals across the world suffer from this type of pain. Some of the most common physiological conditions that are characterized by a chronic sensation of pain include migraine, lower back pain, pain associated with cancer, arthritis-related pain and neurogenic pain. Owing to the rapid onset of their medicinal effect, which offers immediate relief with high efficacy, opioids are still considered to be one of the most widely used pharmacological interventions for the management of moderate to severe forms of pain. However, these drugs are known to induce a euphoric state upon intake, often causing patients to abuse them; increased recreational use of opioids has also been shown to lead to drug addiction. The over-prescription of such medicinal products, which promotes their misuse, is considered as one of the root causes of the opioid crisis. In a recent article, published in 2017, 11.5 million individuals were reported to have been caught misusing prescription opioids, while over 42,000 died from opioid overdose, in the US alone. Moreover, opioid abuse was estimated to have been responsible for over USD 500 billion worth of economic deficit (in the US) due to loss of productivity and healthcare costs.
The opioid crisis has prompted drug manufacturers to develop non-addictive, non-narcotic-based therapeutics / analgesics for the management of pain. Unlike opioids, non-opioid drugs do not affect receptors present in the brain and, thus, are not addictive. These drugs work directly on injured / diseased body tissues and generally block the production of prostaglandins by inhibiting the cyclooxygenase (COX) enzyme at the site of injury / infection, thereby, decreasing the generation of pain mediators within the peripheral nervous system. Additionally, there are various pain management devices that have been reported to significantly reduce or eliminate the need for pharmacological interventions. Such devices are increasingly being used to treat a variety of clinical conditions that are characterized by chronic pain and offer the convenience of being used in the homecare setting as well. However, it is imperative for patients to consult qualified healthcare professionals, who have the required understanding of such therapeutic options, prior to using such devices.
Examples of key companies engaged in developing non-opioid drugs and pain management devices for chronic pain (which have also been profiled in this market report; the complete list of companies is available in the full report) include Stimwave, BlueWind Medical, Omron Healthcare, Cefaly Technologies, Prizm Medical, PainPod, Neurometrix, Chattem, Silk’n Therapy and ElectroMedical Technologies. This chronic pain treatment market report includes an easily searchable excel database of all the companies developing chronic pain management devices and non-opioid drugs, worldwide.
The “Chronic Pain Treatment Market, 2018-2025” market report provides an extensive study on the current market landscape, pain management market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the chronic pain treatment market. The market research report also features a detailed overview of the devices that are used for the treatment / management of pain associated with chronic clinical conditions.
Amongst other elements, the market research report includes:
The key objective of chronic pain treatment market report is to provide a detailed market analysis in order to estimate the existing pain management market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for chronic pain treatment market during the forecast period. Based on parameters, such as target consumer segments, likely adoption rates and expected pricing, we have provided an informed estimate of the likely evolution of the market in the short to mid-term, for the forecast period 2018-2025. The market report includes a detailed market segmentation on the basisof indication (chronic back pain, lumbar radiculopathy, migraine, osteoarthritis and neuropathic pain), type of molecule (small molecule and biologic), mechanism of action (CGRP inhibitors, COX/ NGF inhibitors, TRPV1 receptor antagonists, channel blockers and others) and geography (North America, Europe, Asia Pacific and rest of the World). In addition, the market report features an opportunity analysis for the chronic pain management devices market. The opinions and insights presented in this market report were influenced by inputs solicited via a comprehensive survey and discussions conducted with several key players in chronic pain treatment market. The market research report features detailed transcripts of interviews held with Ryan Jeffcoat (Director of Clinical Affairs & New Markets, AVACEN Medical), Lisa Robin (Chief Advocacy Officer, Federation of State Medical Boards), Nelson Hendler (Chief Executive Officer, Mensana Clinic Diagnostics) and Mark Wiederhold (Chief Executive Officer, Virtual Reality Medical Center). All actual figures have been sourced and analyzed from publicly available information forums and inputs from primary research. Financial figures mentioned in this market research report are in USD, unless otherwise specified.