Global Pain Treatment Market To Reach $144.2 Billion By 2029

2025-01-08 02:32:53

(MENAFN- PR Newswire)

"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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the
Conventional and Alternative Pain Treatment Markets Report

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.

Directly purchase a copy of the report
from BCC Research.

For further information on these reports or to purchase one, please contact [email protected] .

About BCC Research
BCC Research market research reports provide objective, unbiased measurement and assessment of market opportunities. Our experienced industry analysts' goal is to help readers make informed business decisions, free of noise and hype.

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