US Chronic Pain Therapeutics Market Analysis

US Chronic Pain Therapeutics Market Analysis Executive Summary

The US Chronic Pain Therapeutics Market is anticipated to experience a growth from $31.206 Bn in 2022 to $42.380 Bn by 2030, with a CAGR of 3.9% during the forecast period of 2022-2030.

Chronic pain is the term for the long-lasting pain or suffering that lasts for more than 12 weeks. The pain can be put into a category depending on its source like nociceptive pain which is the one which is caused by tissue injury or inflammation, or neuropathic pain which is the one which is caused by nerve malfunction. Types of pain are psychogenic pain which has psychological roots and idiopathic pain which has no clear cause. Besides, medical diseases, for instance, arthritis, fibromyalgia, migraines, neuropathy, and inflammatory bowel diseases, which are more likely to occur in the elderly, can also be the reasons for chronic pain. The management of severe pain requires a broad strategy that encompasses the combination of pharmaceutical, psychological, and physical therapies which are determined by the patient and the kind of pain. Mostly, the use of painkillers like NSAIDs or opioids is the best treatment, in case of the neuropathic pain, antidepressants and anticonvulsants can be beneficial. Physical therapy, exercise, and other treatments like acupuncture and cognitive-behavioral therapy are regarded as important parts of a multidisciplinary approach to chronic pain treatment.

It is believed that around 20% of adults in the US are chronically in pain. This implies that chronic pain is a problem that affects about 1 in 5 persons in the US, thus, the significant impact that this illness has on society is shown. The most common type of long-lasting pain is back pain, which is a problem for about 80% of adults at some time in their lives. Around 25% of the visits to primary care centers are also due to that.

The combination of an aging population, high unmet needs, and the shift towards non-opioid options is reshaping the landscape of chronic pain therapeutics in the US.

In the US Chronic Pain Therapeutics Market, medications lead the charge, with Pfizer (Celebrex, Lyrica) and Johnson & Johnson (Tylenol) holding strong positions. AbbVie is rising with HUMIRA for inflammatory pain. Devices are gaining traction, with Medtronic leading in spinal cord stimulation and Boston Scientific offering diverse options. Emerging players like Pain Therapeutics (ZYNRELEF) and Sorrento Therapeutics (cannabinoid therapies) bring additional innovation.

Market Dynamics

Market Growth Drivers

Aging Population: The aging process can be associated with a higher probability of having chronic pain because of age-related conditions like joint degeneration, nerve damage, and musculoskeletal disorders that come along with it. Hence, the healthcare systems are forced to provide the elderly with the right pain relief which is a big burden for them. This drives the need for a variety of medications targeted at pain relief.

Unmet Needs: Although the medications and devices are already available to some extent, the pain relief needs of many patients are still not being met. These unsatisfied needs lead to the opportunity for the development and use of new therapies and personalized treatment approaches that can solve the problems of the current techniques.

Shift Towards Non-Opioid Options: Cannabinoids are gaining attention for their potential to provide pain relief with comparatively fewer side effects compared to traditional opioids. In addition, precision medicine is also emerging as a promising avenue in the field of pain management. Tailoring treatment plans based on patient characteristics and specific pain biomarkers allows for a more targeted approach.

Market Restraints

Limited Understanding of Chronic Pain: Despite significant advancements in medical research, the understanding of chronic pain is still less due to its multifaceted nature and the involvement of various contributing factors. Certain types of pain remain unresponsive to the therapy and thus finding an approach to develop medicines for those types is difficult.

Cost and Affordability Challenges: The high cost associated with pain medications and medical devices, coupled with the insurance coverage limitations, can create substantial barriers to access for many patients. The financial burden placed on individuals seeking pain management solutions often results in unmet needs, emphasizing the pressing necessity for more cost-effective and accessible options.

Lack of Standardized Treatment Protocols: The absence of universal and standardized treatment protocols for effective management of pain across diverse healthcare settings contributes to inconsistencies in practices. This lack of uniformity can lead to variations in the quality of healthcare provided to patients, potentially impacting their treatment outcomes. Establishing standardized guidelines for pain management is crucial to ensure a more effective approach to addressing the diverse needs of individuals experiencing chronic pain.

Healthcare Policies and Regulatory Landscape

The US Food and Drug Administration (USFDA) is the regulatory agency in the country. It is responsible for protecting public health by ensuring the safety, efficacy, and security of human and veterinary drugs, biological products, and medical devices; and by ensuring the safety of our nation's food supply, cosmetics, and products that emit radiation. FDA also has responsibility for regulating the manufacturing, marketing, and distribution of tobacco products to protect public health and to reduce tobacco use by minors. It can help in advancing public health by helping to speed innovations that make medical products more effective, safer, and more affordable and by helping the public get the accurate, science-based information they need to use medical products and foods to maintain and improve their health. The agency's work is integral to maintaining the integrity of the healthcare system and fostering public confidence in the safety and efficacy of products entering the market.

Competitive Landscape

Key Players:

• AbbVie
• AstraZeneca
• Eli Lilly and Company
• Johnson & Johnson
• Merck & Co.
• Pfizer
• Sanofi
• Amgen
• Biogen
• Teva Pharmaceuticals