At present the Chronic Pain Therapeutics Market is mainly dominated by opioid-based therapies. Besides adverse side-effects and the risk of addiction, the quality of life of the affected people is not up to the mark. As per Delveinsight, in 2020, the Chronic pain incidence was reported to be approximately 187,786,024 in the 7MM, which is expected to further increase by 2030. The Chronic Pain market is anticipated to increase at a CAGR of 3.0% in the 7MM during the study period 2018–2030.
In order to overcome the existing unmet need and to provide effective therapeutics option for the Chronic Pain, some of the key pharma companies such as Pfizer, Regeneron, Teva Pharmaceuticals, AbbVie, Aptinyx, Samumed, Sorrento Therapeutics, Braeburn, Camurus, Centrexion Therapeutics, Biogen, Lexicon Pharmaceuticals, Mesoblast Limited, Eli Lilly and Company, Algiax Pharmaceuticals, Bayer Pharmaceuticals, Vertex Pharmaceuticals, MiMedx, among others are proactively working to develop therapies that are effective for a longer duration, conveniently administered, and are associated with minimal side effects.
For more detailed analysis, visit: Chronic Pain Treatment Market Trends