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Sciatica treatment market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Drug class, by Distribution channel : Global Opportunity Analysis and industry Forecast, 2021-2031
PORTLAND, OREGON, UNITED STATES, June 20, 2024 /EINPresswire / -- Market Dynamics
The sciatica treatment market is experiencing significant growth driven by several key factors. These include an increase in the incidence of both chronic and acute sciatica, changes in human lifestyle, and a rising geriatric population. The demand for over-the-counter (OTC) analgesics is also on the rise, fueled by growing awareness among the population regarding sciatica treatments.
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One of the major growth drivers is the expanding geriatric population worldwide. According to the World Health Organization (WHO), the proportion of people over 60 years is expected to nearly double from 12% to 22% between 2015 and 2050. Since the elderly are more susceptible to chronic back pain conditions, including sciatica, this demographic shift is increasing the demand for sciatica treatments, thereby propelling market growth.
Awareness about sciatica and its treatments is also growing in both developed and developing countries, contributing to market expansion. Additionally, the demand for non-steroidal anti-inflammatory drugs (NSAIDs) and other OTC analgesics for sciatica treatment is rising, particularly in countries such as China, Brazil, and India.
However, the market faces challenges due to the availability of alternative treatments for sciatica, including physical therapy, chiropractic care, and various surgical procedures like spinal fusion, foraminotomy, and laminectomy. These alternatives can hinder market growth. On the positive side, increased investment by key market players in developing regions and advancements in pharmaceutical manufacturing technologies are anticipated to drive market growth during the forecast period.
The COVID-19 pandemic negatively impacted the sciatica treatment market due to disruptions in production and supply chains. However, post-pandemic recovery efforts, including strategies to regularize the supply of medications and medical devices, are expected to boost the market.
Segmental Overview
The sciatica treatment market is segmented by type, treatment, distribution channel, and region.
By Type
The market is divided into acute sciatica, chronic sciatica, and other types such as alternating and bilateral sciatica. In 2021, the chronic sciatica segment dominated the market and is expected to grow at the fastest rate during the forecast period due to an increase in chronic sciatica cases, lifestyle changes, and rising incidences of spine tumors and herniated discs.
By Treatment
The market is categorized into several drug classes: NSAIDs, steroids, antidepressants, anticonvulsants, analgesics, and others (including muscle relaxants and opioids). NSAIDs dominated the market in 2021 and are expected to continue growing rapidly due to their low cost, easy availability, and frequent prescription by healthcare providers for both acute and chronic sciatica.
By Distribution Channel
The market is divided into hospital pharmacies, drug and retail store pharmacies, and online providers. Drug and retail store pharmacies were the highest revenue contributors in 2021 due to their extensive distribution networks and effective marketing strategies. However, online providers are expected to grow at the fastest rate during the forecast period due to the convenience they offer and the discounts available on these platforms.
By Region
Regionally, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). North America held a major market share in 2021 and is expected to maintain its dominance. The presence of major players, advancements in pharmaceutical manufacturing technologies, and an increasing geriatric population contribute to this dominance. Additionally, the region benefits from a well-established healthcare infrastructure and high adoption rates of medication over surgical treatments.
Asia-Pacific is expected to grow at the highest rate during the forecast period due to the presence of numerous pharmaceutical companies, rising purchasing power in countries like China and India, and increased investment in high-tech pharmaceutical production. The region also has abundant raw materials for pharmaceutical manufacturing, providing further market opportunities.
Competition Analysis
Key players in the sciatica treatment market include Abbott, Alkem Laboratories Limited, Amneal Pharmaceuticals LLC., Aurobindo Pharma, Johnson and Johnson, Sinfonia Biotherapeutics, Sorrento Therapeutics, Inc., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Limited, and Zydus Group. These companies are employing strategies like product launches, clinical trials, and branding to enhance their market positions.
Recent Product Launches
Abbott: In March 2021, Abbott launched Brufen Power spray, a double-strength diclofenac formulation for targeted pain relief.
Sun Pharmaceutical Industries Ltd.: In October 2019, they launched Drizalma Sprinkle (duloxetine delayed-release capsules) in the U.S. for treating neuro-psychiatric and pain disorders.
Alkem Laboratories Ltd.: In August 2021, they launched Ibuprofen and Famotidine Tablets in the U.S.
Clinical Trials
Sorrento Therapeutics: In May 2022, they announced positive results from Phase 3 SEMDEXATM trials in sciatica patients.
Sorrento Therapeutics: In December 2021, they reported significant results from Phase 3 SP-102 (SEMDEXA) trials for treating lumbosacral radicular pain.
Geographical Expansion
Sorrento Therapeutics: In April 2022, expanded its distribution network through Cardinal 3PL to improve its reach to national and regional wholesalers and pharmacies.
Overall, the sciatica treatment market is poised for substantial growth due to demographic shifts, increasing awareness, and technological advancements, despite facing competition from alternative treatment methods.
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