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Market Dynamics

Drivers:

Growing Prevalence of Chronic Pain Conditions

The increasing prevalence of chronic diseases is a major driver in the chronic pain management market. For example, it was estimated that 51.7 million adults in the United States were suffering from chronic pain in 2021, according to the Centers for Disease Control and Prevention. 

The global aging population, forecasted by the World Health Organization to double by 2050 (from 12% to 22%), is another significant contributor to this prevalence as older individuals are more likely to develop chronic conditions. Obesity, which affects more than 650 million people globally as per 2016 WHO reports, is also known to exacerbate conditions like osteoarthritis leading to chronic pain. As these numbers continue to rise, the demand for chronic pain management solutions will likely increase.

Technological Advancements in Pain Management Devices

The development and adoption of advanced technology in pain management devices significantly drive the growth of chronic pain management market. Technological innovations like neurostimulation devices and wearable pain management devices are becoming more common. For instance, the use of transcutaneous electrical nerve stimulation (TENS) devices for managing chronic pain has increased due to its non-invasive nature. Also, advancements in drug delivery systems, such as smart pumps that provide automated, patient-specific medication doses, have improved the efficacy and safety of pain management treatments.

Restraint: Regulatory and Reimbursement Hurdles

On the flip side, strict regulatory and reimbursement issues often hamper the chronic pain management market. Obtaining regulatory approval for new devices and drugs can be a long and costly process. According to a study published in the Journal of Health Economics, the average pre-market approval time for medical devices by the FDA was roughly 31 months. Additionally, disparities in insurance coverage and reimbursement policies across different regions can restrict patient access to these therapies. 

A survey conducted by the American Chronic Pain Association revealed that around 20% of individuals suffering from chronic pain felt insurance was a barrier to their care. This, combined with potential out-of-pocket costs due to limited or non-existent insurance coverage, could hinder the overall market expansion for chronic pain management.

Opportunity: Aging Population to Offer Lucrative Opportunity for Chronic Pain Management

The aging population in the United States presents a significant opportunity for the chronic pain management market. It is projected that within two decades, 32% of the US population will be over 65 years old, with 36 million individuals under 65 experiencing persistent pain. This amounts to a staggering 124 million Americans living with chronic pain.

Chronic pain is a pressing health issue not only in the US but also in many other countries. It is the primary cause of disability among individuals aged 45 and above, surpassing the disability caused by cancer, heart disease, and diabetes combined. In 2019, chronic pain cost the US $635 billion, with only half of that amount dedicated to treatment. Opioids alone accounted for $160 billion in expenses. The remaining costs were attributed to productivity loss and compromised quality of life.

Chronic pain has a profound impact on daily activities and quality of life, leading to activity limitations and increased nursing home admissions, particularly among elderly women. The number of adults aged 80 and above admitted to nursing homes due to pain-related conditions has risen significantly over the years in the global chronic pain management market.

As the incidence of age-related aches and pains rises with the increasing number of elderly individuals, the market for drugs and therapies targeting various types of pain is poised to expand tremendously. This growing demand presents a lucrative opportunity for the development and provision of effective pain management solutions.

Segmental Analysis

By Product 

The product segments of the global chronic pain management market include electrical stimulators, Radiofrequency Ablation (RFA), analgesic infusion pumps, and neurostimulation devices. The largest market share in 2021, exceeding 57.5%, was held by the neurostimulation segment. This sector's robust growth is attributable to the increasing incidence of neurological disorders. Neurostimulators are pivotal in the treatment of conditions such as chronic pain, Parkinson's disease, epilepsy, and even depression.

A surge in the demand for these products, the influx of innovative technologies, and an aging population are key contributors to the market expansion. To illustrate, data from the U.K. government indicates a rise in the population of those aged 60-64 years, from 3,673 thousand in 2018 to 3,974 thousand in 2021. Similarly, those within the 70-74 age bracket also increased from 3,252 in 2018 to 3,390 in 2021. Consequently, as the aging demographic tends to be more prone to chronic diseases, their population growth is anticipated to spur the market growth.

The RFA product segment is projected to witness the highest growth rate during the forecast period in the chronic pain management market, attributed to its versatile applications in pain management, surgical oncology, gynecology, cardiology and cardiac rhythm management, and even cosmetology. RFA treatments, which are particularly effective for patients with multiple tumors, offer a more desirable alternative to traditional open surgery, thus propelling this segment's growth. For example, Boston Scientific, in June 2020, introduced DIRECTSENSE, a novel tool designed to track radiofrequency energy delivery during cardiac ablation procedures.

By Application 

In 2022, the neuropathic pain segment held 33.2% of the global chronic pain management market, driven by a rising incidence of neuropathic pain affecting 7-10% of the world population. Diabetic neuropathy and post-herpetic neuralgia, resulting from diabetes and herpes zoster respectively, are the primary neuropathic conditions. 

The segment's growth is fueled by increased prevalence of these diseases, greater neuropathic pain awareness, and more effective treatment options. Management of this complex condition involves pharmacological and non-pharmacological approaches. Anticonvulsants like gabapentin and pregabalin, and certain antidepressants have shown effectiveness in relieving symptoms. Non-pharmacological methods like transcutaneous electrical nerve stimulation (TENS), nerve blocks, and physical therapy have also demonstrated benefits in managing neuropathic pain.

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Regional Analysis 

North America chronic pain management market grapples with an alarming prevalence of chronic pain conditions, which takes a considerable toll on both individuals and the healthcare system. Citing the Institute of Medicine's report, a staggering 51 million people in the United States are beleaguered by chronic pain, a figure that represents roughly 21% of the total US population. This profound affliction accounts for a significant number of health-related issues and creates a massive demand for effective pain management solutions, in turn, stimulating market growth.

Furthermore, the financial implications of chronic pain are monumental. According to the American Pain Society, the annual economic burden of chronic pain in the United States is a staggering $600 billion, an amount that exceeds the yearly expenditure of the US on national defense, which stood at $740 billion in 2021. This colossal sum includes not only healthcare costs but also the costs associated with lost productivity and disability, which in 2021 represented a loss of approximately 80 million workdays per year in the US.

In response, the United States dedicates a substantial number of resources to chronic pain management. A 2022 report on chronic pain management market highlighted that the US healthcare system spent over $100 billion annually on pain medication, including over-the-counter drugs, prescription opioids, and non-opioid prescription drugs. Moreover, around $300 billion was directed towards complementary and alternative therapies like physiotherapy, acupuncture, and cognitive behavioral therapy in the same year.

This tremendous financial burden highlights the urgency for efficient and cost-effective pain management strategies, and also fosters the growth of the market, with pain management estimated to be one of the fastest-growing sectors in the healthcare industry.

 Recent Developments:

• March 2015: Pfizer Inc. and Eli Lilly & Company announced the resumption of the Phase 3 clinical chronic pain program for Tanezumab. This program had been put on partial hold by the FDA due to non-clinical data characterizing its sympathetic nervous system response. The resumption of the program marked a key step forward in exploring the potential of Tanezumab in the management of chronic pain.
• July 2015: Allergan PLC and Merck reached an agreement where Allergan would acquire exclusive rights to Merck's investigational small molecule oral calcitonin gene-related peptide (CGRP) receptor antagonists. These are being developed for the treatment and prevention of chronic migraine pain, representing a novel approach in the treatment landscape.
• September 2019: Eli Lilly & Company announced its participation in the Complex Innovative Trial Designs (CID) Pilot Meeting Program. As part of this program, the company aimed to develop novel methodologies for the treatment of various types of chronic pain. This demonstrated Eli Lilly's commitment to exploring innovative trial designs in the field of chronic pain management.
• June 2022: Endo International Plc revealed that its subsidiary, Endo Ventures Limited (EVL), had entered an agreement with Taiwan Liposome Company (TLC) to commercialize TLC599. This injectable compound, in Phase 3 development at the time, was aimed at treating chronic osteoarthritis knee pain, showcasing the potential of targeted therapies for osteoarthritis pain management.
• February 2023: Abbott Laboratories announced FDA approval for its Proclaim™ XR spinal cord stimulation (SCS) system. The system is designed to treat chronic painful diabetic peripheral neuropathy (DPN), a severe complication of diabetes. The approval demonstrated a major milestone in providing new treatment options for patients with this debilitating condition.

List of Key Companies Profiled:

• Eli Lilly and Company
• GlaxoSmithKline plc.
• Pfizer Inc.
• Abbott Laboratories
• Novartis AG
• Johnson & Johnson
• AstraZeneca plc.
• Bristol-Myers Squibb Company
• Becton
• Dickinson and Company
• Sanofi S.A.
• Other prominent players

Market Segmentation Overview:

By Product

• Electrical Stimulators
• Radiofrequency Ablation (RFA)
• Analgesic Infusion Pumps
• Neurostimulation

By Application

• Cancer
• Neuropathic Pain
• Facial & Migraine
• Musculoskeletal Disorder
• Trauma
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America