The global central pain syndrome management market garnered a market value of USD 60 Billion in 2023 and is expected to accumulate a market value of USD 100 Billion by registering a CAGR of 5% in the forecast period 2023 to 2033. The rising number of chronic pain sufferers is a major element driving the worldwide central pain syndrome management market's expansion. Additionally, increased demand for chronic pain management in home care settings is propelling market expansion in the near future. Furthermore, the recent pain management market trend of increasing medications and gadgets to relieve pain is accelerating industry expansion.
Central pain syndrome is a kind of neuropathic pain that affects the central nervous system. It can occur in persons who have had a stroke or who have multiple sclerosis. It is also present in a variety of chronic rheumatological and musculoskeletal illnesses. Central pain syndrome is distinguished by a variety of pain sensations, the most noticeable of which is persistent burning. Light contact might sometimes aggravate the constant burning feeling. Pain is sometimes exacerbated by temperature fluctuations, particularly cold temperatures.
Sensation loss can occur in afflicted locations, most notably in remote portions of the body such as the hands and feet. On occasion, there may be short, excruciating bursts of severe pain. For patients suffering from central pain syndrome, pain medicines frequently give little or no help. Some antidepressants and anticonvulsants, on the other hand, can help treat central pain syndrome. Attractive business policies and the creation of small and medium-sized firms with modern solutions are projected to assist the target market's growth. Furthermore, companies' attention on tracing the emerging market in emerging nations is projected to assist the central pain syndrome market's growth.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | USD 60 Billion |
| Anticipated Forecast Value (2033) | USD 100 Billion |
| Projected Growth Rate (2023 to 2033) | 5% CAGR |
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The global demand for central pain syndrome management is projected to increase at a CAGR of 5% during the forecast period between 2023 and 2033, reaching a total of USD 100 Billion in 2033, according to a report from Future Market Insights (FMI). From 2018 to 2022, sales witnessed significant growth, registering a CAGR of 3.5%.
Various factors, for example, an expanding geriatric populace, more developed repayment approaches in developed nations, the rising prevalence of cancer torment, working on the administrative system, developing examination financing, neglected clinical necessities, rising rivalry among market players, and expanding government assistance, are all contributing to the market's development over the forecast period.
The high cost of innovation, a lack of competent or trained doctors, and a powerless medical services framework in poor and middle-income countries may stymie the growth of the market. However, rapid technical breakthroughs by leading companies, the incorporation of AI in devices, and the launch of creative solutions are factors that will generate new possibilities for participants in the market throughout the projection period. Furthermore, rising partnerships and agreements between regional and international firms are likely to boost market revenue development.
Increasing Frequency of Central Pain Syndrome is a Significant Growth Factor
The growing weight of the world's mature population is expected to drive market expansion during the forecast period. The prevalence of central pain syndrome is often high among the senior population and is regarded as a free risk factor for death.
Expanding item shipments are also predicted to significantly boost the Market, resulting in the expansion of the central pain syndrome management market.
A Key Market Trend is Innovation in the Field of Pain Management
Market participants have been consistently investing in the development of novel solutions for the treatment of chronic pain. Wearable technology innovation for central pain syndrome management is one of the significant advances in the sector.
In September 2020, NeuroMetrix Inc., for example, will introduce its wearable technology for the treatment of chronic pain. Quell is a wearable, transcutaneous electrical nerve stimulation (TENS) device for knee, foot, and leg pain patients who may tailor and control therapy discreetly using an iPhone or Android smartphone app.
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The dearth of Awareness as well as Professionals in the Central Pain Syndrome Management Market to Stifle Market Growth
The expansion of the central pain syndrome management market is heavily reliant on an increase in the number of operations and the consumption of medical services. Nonetheless, drug addiction, the expiration of patents on cure pain pharmaceutical drugs, and the availability of replacements, such as relief from discomfort devices, restrict the market growth.
A variety of additional issues are limiting the development of the market scenario. Some of the prevalent impediments are low awareness about the accessibility and utilization of agony the board gadget, a scarcity of trained professionals, a scarcity of torment facilities in a few nations, the presence of a gap in pervasiveness and therapy of persistent pain, and elevated procedural and high expense of central pain syndrome management.
Research and Development (R&D) Efforts in the Development of Technologically Sophisticated Healthcare Treatment Solutions to Widen Profit Margins
During the projection period, the Asia Pacific market is expected to develop at the quickest rate. This expansion can be ascribed to R&D efforts in the development of technologically sophisticated healthcare treatment solutions.
Furthermore, the presence of many trade agreements increases the region's possibilities for market expansion. For example, the Asia Pacific Trade Agreement (APTA) involving China, Bangladesh, India, Lao PDR, the Republic of Korea, Mongolia, and Sri Lanka has facilitated trade liberalization and expanded import and export options. As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 4.7% in the assessment period 2023 to 2033.
Rising Geriatric and the Need for Long-Term Pain Management to Promote Market Growth
North America has the highest portion of the central pain syndrome management market, with the United States contributing the most revenue. Factors such as the rising geriatric population as well as the need for long-term pain management and advancements in the pain management industry are projected to drive the central pain syndrome management market in North America.
Furthermore, according to PubMed data from 2022, the rate of chronic pain in the United States is rising. Every year, one out of every five persons in the region suffers from chronic pain. Because it is among the most frequent chronic disorders in the USA, there is a growing need for pain management throughout the country. Additionally, the American Society of Regional Anesthesia and Pain Medicine (ASRA) recommends that continuous opioid therapy and the use of steroids in interventional pain procedures may produce immunological suppression, which is significant since it reduces the chances of fighting various viral infections.
As a result, all of the aforementioned reasons are likely to boost demand for the central pain syndrome management market throughout the forecast period. Thus, North America is expected to grow at a CAGR of 4.9% in the assessment period 2023 to 2033.
Increased Use of Technologically Advanced Medical Devices fuelling Market Growth
According to the most recent central pain syndrome management market trends, demand for central pain syndrome management in Europe is expected to expand at a significant rate between 2023 and 2033.
This is owing to the increased use of technologically advanced medical devices such as tens pain relief devices and others due to their high efficacy, the presence of some of the world's leading medical device makers, rising healthcare spending, and favorable government efforts. Thus, owing to the aforementioned reasons, Europe is expected to grow at a CAGR of 4.8% in the assessment period 2023 to 2033.
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The Antidepressants Segment is the Most Preferred Drug
Antidepressants are widely given for chronic pain, particularly neuropathic pain, persistent low back or neck pain, and some kinds of arthritis. In fact, antidepressants are recommended in several guidelines for the treatment of chronic low back pain and osteoarthritis (the most prevalent kind of arthritis). For these disorders, the FDA has authorized duloxetine (Cymbalta), an antidepressant. Hence, the antidepressant segment is expected to promote market growth during the forecast period.
The Retail Pharmacy to enhance Sales Prospects
In the distribution channel sector, retail pharmacy generated the most income. The substantial usage of over-the-counter medications for pain treatment is the primary reason for retail pharmacies large market share.
The Hospital Segment is the Most Prominent End User
Based on end users, the hospital category is predicted to grow at the fastest rate in the market during the forecast period. The most common pain treatment techniques are conducted in hospitals, notably for post-surgical pain, where the cost of monitoring and treating side effects creates a strong demand for pain treatment medications and technologies.
Prominent start-up in order to consolidate their market presence, players in central pain syndrome management is launching new and novel product lines, and the aforementioned start-ups have left no stone unturned. The following are some particular examples of significant Central Pain Syndrome Management start-ups:
Mendolor, a Finnish firm, is working on a pain assessment app. The comprehensive pain measuring solution replaces the standard 1-10 scale of pain measurement with objective metrics. The app integrates patient-reported pain data with an objective pain scale for more accurate opioid recommendations that enhance pain treatment quality.
VRx Medical, a Chilean business, creates virtual reality (VR) software to distract children during injection administration. The startup's technology, VRx Guardian, employs VR headgear and a smartphone to distract a child's attention with an interactive tale. The approach is both cost-effective and efficient for tear-free pediatric treatment.
Regulonix, a biotech firm established in the United States, creates non-opioid therapies to treat chronic pain. The therapies developed by the firm target neuronal sodium channels indirectly, concentrating on the signaling pathways that modulate channel activation. As a consequence, the business creates non-addictive pain-relieving chemicals that are more effective than morphine and have no adverse effects.
IMCI, an Israeli start-up, is working on cannabis-based pharmaceuticals to alleviate neuropathic pain. From seed to finished product, IMCI conducts a comprehensive value chain of therapeutic cannabis-based production following SA and EU-GMP standards. The production procedure of the firm intends to deliver a low-cost pain treatment alternative based on cannabis.
Reducept, a firm located in the Netherlands, offers a digital pain training platform. It offers consumers a science-based workout plan that takes only 10 minutes each day to complete. The software also assists healthcare providers in educating and monitoring their patients' pain management. It teaches the body to control pain symptoms naturally rather than relying on drugs.
The increased investment by leading companies in R&D activities, as well as the approach to the introduction of smart gadgets, are factors responsible for the target market's growth. Furthermore, strategic merger and acquisition actions by leading competitors to strengthen their corporate presence are likely to boost target market growth.
Key players in the central pain syndrome management market are Sun Pharma, Eli Lilly, Lupin Pharmaceuticals, Inc., AdvaCare Pharma, Somacare, Mallinckrodt Pharmaceuticals, Pipelinepharma, Sandoz, Xi'an Tian Guangyuan Biotech Co., Ltd. and Reddy's Laboratories.
Recent Developments:
In December 2022, Lupin Limited announced the opening of its Regional Reference Laboratory in Indore, Madhya Pradesh, as part of its Central India development. In India, Lupin Diagnostics now runs 325+ LupiMitra and 23 laboratories.
In March 2022, Mallinckrodt plc, a global biopharmaceutical company, announced the publication of findings from a retrospective medical records study evaluating the real-world utilization and outcomes of Acthar® Gel (repository corticotropin injection) in patients with refractory rheumatoid arthritis (RA) who did not respond adequately to standard-of-care therapies. The findings were published in the peer-reviewed journal Drugs in Context.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 60 Billion |
| Market Value in 2033 | USD 100 Billion |
| Growth Rate | CAGR of 5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in The USA Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Drug Class, Route of Administration, Distribution Channel, End User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | The USA,Canada,Brazil,Mexico,Germany, The United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Sun Pharma; Eli Lilly; Lupin Pharmaceuticals, Inc.; AdvaCare Pharma; Somacare; Mallinckrodt Pharmaceuticals; Pipelinepharma; Sandoz; Xi'an Tian Guangyuan Biotech Co., Ltd.; Dr. Reddy's Laboratories |
| Customization | Available Upon Request |
FMI projects the global central pain syndrome management market to expand at a 5% value CAGR by 2033
The global central pain syndrome management market is estimated at a market value of USD 60 Billion
The global central pain syndrome management market is expected to garner a market value of USD 100 Billion
Asia Pacific is forecast to be the most lucrative for central pain syndrome management market growth
Sun Pharma, Eli Lilly, Lupin Pharmaceuticals, Inc., AdvaCare Pharma, Somacare, Mallinckrodt Pharmaceuticals, Pipelinepharma, Sandoz, Xi'an Tian Guangyuan Biotech Co., Ltd. and Reddy's Laboratories are some prominent central pain syndrome management manufacturers
North America is expected to grow at a CAGR of 4.9% in the assessment period 2023 to 2033.
Europe is expected to grow at a CAGR of 4.8% in the assessment period 2023 to 2033.
The retail pharmacies segment is expected to hold the largest market share for central pain syndrome management in the forecast period 2023 to 2033.
1. Executive Summary | Central Pain Syndrome Management Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug Class 5.1. Antidepressants 5.2. Anticonvulsants 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Route of Administration 6.1. Oral 6.2. Intravenous 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacy 7.2. Retail Pharmacy 7.3. Online Pharmacy 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 8.1. Hospitals 8.2. Clinics 8.3. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. Middle East and Africa (MEA) 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Sun Pharma 17.2. Eli Lilly 17.3. Lupin Pharmaceuticals, Inc. 17.4. AdvaCare Pharma 17.5. Somacare 17.6. Mallinckrodt Pharmaceuticals 17.7. Pipelinepharma 17.8. Sandoz 17.9. Xi'an Tian Guangyuan Biotech Co., Ltd. 17.10. Dr. Reddy's Laboratories 18. Assumptions & Acronyms Used 19. Research Methodology
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Central Pain Syndrome Management Market
