A latest report from Absolute Markets Insights covers insights into the global Chronic Low Back Pain market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Chronic Low Back Pain market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Chronic Low Back Pain report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Chronic Low Back Pain report also shows a new uptrend that includes market conditions and market forecast 2022-2030.
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Some of the major players operating in the global Chronic Low Back Pain market include: Astellas Pharma Inc., Grunenthal GmbH, Orion Oyj, Pfizer Inc., Regeneron Pharmaceuticals, Inc, Array BioPharma Inc., Egale Corporation, Gador S.A. Kineta., Inc, MEDRx Co., Ltd amongst others.
In terms of revenue, the global chronic low back pain market stood at US$ 6429.30 Mn in 2022 and is anticipated to reach US$ 10012.52 Mn by 2030, expanding at a CAGR of 4.8% over the next eight years.
The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.
Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Chronic Low Back Pain Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.
Key insights from the report:
- The report provides key statistics on the market status of Chronic Low Back Pain Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
- The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
- The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
- The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
- Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
- The report makes some important proposals for a new project of Chronic Low Back Pain Market before evaluating its feasibility.
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Covid-19 cumulative impact:
This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Chronic Low Back Pain Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Chronic Low Back Pain Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.
Key questions answered in this report:
- What will the market size and growth rate be in 2030?
- What are the key drivers of the global market?
- What are the key market trends impacting the growth of the global market?
- What are the market growth challenges?
- Who are the key vendors in the global market?
- What are the global market opportunities and challenges for sellers?
- What are the key findings of the global five-point analysis of the Chronic Low Back Pain market?
Growing share of ageing population across several regions combined with sedentary lifestyle and obesity are the primary causative factors modifying the overall chronic low back pain market. Amongst these, it has been reported that sedentary lifestyle is the primary reason for the global industry growth. Sometimes, when a weekday routine of getting too little exercise is compensated by a strenuous weekend workout, it can develop chronic pain on the lower back.
A recent study highlights that the high cost of diagnosis and treatment of chronic lower back pain is leading to burn in the pockets of patients which is leading to Chronic Low Back Pain Market. According to the American Chiropractic Association report, America spends approximately USD 50,000 million in health care for the low-back pain each year .These findings are alarming, considering the socio-economic impact of chronic low back pain. Health care stakeholders are aiming to solve the current challenges and to build a sustainable foundation for affordable, accessible, high-quality chronic low back pain treatment.
Procedures such as minimally invasive injections is used for managing chronic low back pain conditions. The epidural steroid injections during minimally invasive pain treatment helps in reducing inflammation and pain that is usually accompanied with it. The steroid injected is a good option for patients suffering from degenerative disc disease, spinal stenosis and herniated discs. The minimal-invasive pain treatments also includes facet joint injections, medial branch blocks, trigger point injections , viscoelastic hyaluronate injections, stem cell concentrate (PRP and/or BMAC) injections and radiofrequency ablation of nerves. Other treatment methods duly includes acupuncture, nutritional therapy, dry needling, and magnets usage amongst others. Such factors are expected to propel the global Chronic Low Back Pain Market growth in the future years.
The medication market segment have several providers who have formulations with expiring patents. This proves an opportunity for pharmaceutical companies to venture into the market targeting particular medication types for future growth. The Chronic Low Back Pain Market has barriers to entry which include the required technical expertise for creation of new formulations, and related regulatory infrastructure, limiting companies with newer formulations to venture into the market. Thus, the threat of new entrants is rated as low to moderate.
The types of medications used for treating chronic low back pain are analgesic medications, nonsteroidal anti-inflammatory drugs, counter irritants, antidepressants and anticonvulsants. Acetaminophen remains one of the best first-line treatments of chronic low back pain. Analgesic medications held the largest share in 2018 and is expected to continue the same trend over the forecast period. This particular medication group are specifically designed to relieve pain. Analgesic medications include prescription opioids such as oxycodone, morphine, codeine and hydrocodone as well as OTC acetaminophen and aspirin.
North America accounted the largest penetration in Chronic Low Back Pain Market 2018 owing to the prevalence of inflammatory back pain conditions amongst the United States adults. Pain management programs such as Functional Restoration (FR) were introduced for chronic low back pain patients facing debilitating effects related to an overall “pain syndrome”. The interdisciplinary approach is basically aimed at customizing the treatment options in order to promote maximum rehabilitation in both psychological and physical areas. This is primarily achieved by using a combination of cognitive behavioral therapy (CBT), psychosocial evaluations and physical conditioning that are in turn carefully monitored by a team of experienced health-care professionals. The same has shown highly effective in terms of therapeutic application. Other forms of physical modalities includes chiropractic care, myofascial-release therapy and exercise.
Global Chronic Low Back Pain Market Segmentation:
Chronic Low Back Pain Market By Diagnosis (X-Ray, Computerized Tomography (CT), Myelograms, Discography, MRI, Electrodiagnostics, Bone Scans, Ultrasound Imaging And Others); By End Users (Hospitals, Clinics, Ambulatory Surgical Centers, And Others); By Treatment (Analgesic Medications, Non-Steroidal Anti-Inflammatory Drugs (NSAIDS), Anticonvulsants, Antidepressants, Counter-Irritants); By Surgery (Vertebroplasty And Kyphoplasty, Spinal Laminectomy, Discectomy Or Microdisectomy, Foraminotomy, Intradiscal Electrothermal Theraphy (IDET), Spinal Fusion, Artificial Disc Replacement And Others); By Region (U.S., Canada, Mexico, France, UK, Germany, Spain, Italy, Nordic Countries, Benelux Union, Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest Of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of MEA, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022 – 2030
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