CHRONIC PAIN MARKET ANALYSIS

Chronic Pain Market Size and Trends

Global chronic pain market is estimated to be valued at USD 72.10 Bn in 2024 and is expected to reach USD 115.51 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7% from 2024 to 2031. Increasing geriatric population who are more prone to chronic diseases and various innovations in pain management therapeutics can drive the market growth during the forecast period.

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Increasing prevalence of chronic diseases

Rising burden of chronic diseases can drive the market growth. Longer life expectancy and evolving lifestyle trends have largely contributed to this global epidemic. Chronic diseases such as diabetes, arthritis, cardiovascular diseases, and others which were earlier seen as disorders specific to developed nations are now spreading to low- and middle-income countries at an alarming rate.

Due to unhealthy diet, physical inactivity, and tobacco use, more people are becoming susceptible to these chronic conditions at younger ages. Developing countries undergoing nutrition transition are witnessing increase in obesity levels in their populations. This has further accelerated the occurrence of diabetes, joint problems and other chronic diseases. Even though healthcare infrastructure has been improving in these regions, management of chronic diseases poses significant challenges due to limited resources and awareness.

Chronic diseases often coexist with other comorbidities compounding the severity of conditions in affected patients. Diabetic patient is likely to develop hypertension, kidney complications or cardiovascular problems, if diagnosis and treatment is delayed. Mismanagement or lack of support also raises psycho-social issues for people living with chronic pain over long periods. All these factors have contributed to chronic diseases collectively becoming one of the leading causes of morbidity in both developed and developing parts of the world.

Given their irreversible and lifelong nature, the personal and economic burden associated with chronic diseases escalate with time. As more people are diagnosed, there has been increase in need for improved diagnostic methods, safer and cost-effective drugs, rehab measures and assistive devices. Organizations working in the area of chronic disease prevention have strived to raise awareness and initiate campaigns for behavioral change. However, pharmacological interventions remain critical for effective management of existing cases and alleviation of chronic pain symptoms.

 Increasing awareness about chronic pain management

Rising awareness regarding chronic pain as a major health issue can drive the market growth. Chronic pain patients now have more resources to understand their condition and seek appropriate support. Advocacy efforts by survivors, medical professionals and policymakers have reduced the stigma around chronic pain. Regular conversations in media and online health communities have normalized discussions on living with and management of chronic pain.

Caregivers are more proactive in identifying signs and symptoms at early stages. People are also adopting preventive measures to dodge risk factors and lifestyle triggers that can potentially induce chronic pain. Healthcare systems worldwide have stepped up to acknowledge pain as the fifth vital sign along with initiatives to improve pain assessment practices. Treatment guidelines now focus on more holistic and multidisciplinary approaches instead of just symptomatic relief. Significant progress has been made to include alternative therapies, educate on safer usage of opioids, emphasize importance of rehab and psyche support.

Patients experiencing persistent pain are no longer expected to simply live with pain. Rising awareness levels have boosted demand for advanced pain relief options whether through drugs, supplements, medical devices or surgeries. Individuals are empowered to make informed choices, try out new lines of treatment and follow up regularly to ensure continuum of care. Various studies show people are more willing to bear out-of-pocket expenses especially when quality of life can be improved.