"Pain treatment options are growing, from proven methods like medications and surgery to alternative approaches like acupuncture and herbal remedies."
BOSTON, Jan. 8, 2025 /PRNewswire/ -- According to the latest study from BCC Research, the demand for Conventional and Alternative Pain Treatment Markets is expected to grow from $96.2 billion in 2024 to $144.2 billion by the end of 2029, at a compound annual growth rate (CAGR) of 8.4% during the forecast period of 2024 to 2029.
This report explores the market for conventional and alternative pain treatments, analyzing current trends, growth potential, leading companies, and emerging technologies. It segments the market by treatment type (drugs such as analgesics and medical cannabis, and devices such as stimulators) and application (orthopedic, surgical, migraine and cancer). The study also provides regional analysis of markets in North America, Europe, and Asia-Pacific, with projections to 2029.
Interesting facts
New devices are being introduced to address pain and disabilities, but traditional pain relief drugs remain in high demand.
Factors contributing to the growth include:
- Rise in the aging population: This refers to the growing number of older adults worldwide due to longer life expectancies and lower birth rates. This shift increases the demand for healthcare, retirement support, and services tailored to age-related needs, including chronic disease management and pain treatment.
- Rising incidence of chronic diseases: The rising incidence of chronic diseases means more people are living with long-term conditions like diabetes, heart disease, and arthritis. This increases the need for ongoing medical care, treatment, and support.
- Growth of public health programs that address chronic pain: Public health programs focused on chronic pain aims to improve awareness, prevention, and treatment options for people suffering from long-term pain.
- Improvement in non-drug techniques.: Improvement in non-drug techniques refers to the development of alternative methods, such as physical therapy, acupuncture, and mindfulness, to manage pain without relying on medications.
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Report Synopsis
Report Metric | Details |
Base year considered | 2023 |
Forecast period considered | 2024-2029
|
Base year market size | $89.9 billion |
Market size forecast | $144.2 billion |
Growth rate | CAGR of 8.4% for the forecast period of 2024-2029 |
Segments covered | Pain Management Type, Application, and Region |
Regions covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa |
Countries covered | U.S., Canada, Mexico, Germany, France, U.K., Spain, Italy, China, India, Japan, Australia, New Zealand, Brazil, Argentina, and South Africa |
Market drivers | • Rise in the aging population. • Increasing integration of AI in medical devices. • Rising incidence of chronic diseases. • Growth of public health programs that address chronic pain. • Improvement in non-drug techniques |
This report addresses the following key questions:
- What is the projected size and growth rate of the market for conventional and alternative pain treatment?
The market is projected to grow from $89.9 billion in 2023 to $144.2 billion in 2029, at a compound annual growth rate (CAGR) of 8.4% during the forecast period. - Which market segments are covered in the report?
The market for conventional and alternative pain treatment is segmented by pain management type, device type, pharmaceutical, drug therapy and application. - Which application will dominate the market in 2029?
The orthopedic and musculoskeletal pain segment is expected to dominate the market in 2029. - Which device type is showing the fastest growth?
Electrotherapy is the fastest-growing market.
Leading companies in the market include:
- Abbott
- Abbvie Inc.
- Amgen Inc.
- Baxter
- Bayer AG
- Boehringer Ingelheim International GmbH
- Boston Scientific Corp.
- GSK Plc
- Johnson & Johnson
- Lilly
- Medtronic
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
Related reports include:
Medical Devices: Technologies and Global Markets: refers to the wide range of devices, from simple tools to advanced technology, used in healthcare for diagnosis, treatment, and monitoring. This market is growing globally as new innovations improve patient care and create opportunities for companies in the healthcare industry.
Elder Care Services and Assistive Devices: Global Markets: refers to the growing demand for services and devices that help older adults live independently and safely. This includes home care services, mobility aids, and technologies designed to improve the quality of life for seniors.
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