Chronic Pain Treatment Market is expected to reach US$ 143.2 billion by 2030
Chronic Pain Treatment Market is growing with a CAGR of 7.1% during the forecast period 2024-2031.
(EMAILWIRE.COM, March 07, 2025 ) Chronic Pain Treatment Market reached US$ 83.8 billion in 2022 and is expected to reach US$ 143.2 billion by 2030 growing with a CAGR of 7.1% during the forecast period 2024-2031.
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Market Dynamics
Rising FDA Approvals for Neurostimulation Devices Driving Global Chronic Pain Treatment Market
Advancements in neurostimulation devices are revolutionizing the treatment of chronic neurological disorders, significantly boosting the global chronic pain treatment market. These devices utilize electrical stimulation to modulate neural activity, providing effective pain relief for patients suffering from chronic conditions. The continuous development of innovative neurostimulation technologies and new product approvals are key factors propelling market growth.
For instance, on March 23, 2023, Neuspera Medical, a U.S.-based neuromodulation device manufacturer, received FDA approval for its next-generation Neuspera ultra-miniaturized system. This breakthrough device delivers peripheral nerve stimulation (PNS) through a wireless, minimally invasive, and adaptable platform, offering significant advantages over existing technologies.
Neuspera’s system is the first ultra-miniaturized PNS device, designed to enhance patient comfort and procedural flexibility while providing effective pain management. The Neuspera platform introduces less invasive and more adaptable treatment solutions, improving the quality of life for individuals with chronic pain disorders.
With increasing FDA approvals and technological advancements in neurostimulation, the chronic pain treatment market is expected to witness substantial growth in the coming years.
Market Segments
• By Indication (Neuropathic Pain, Analgesic Infusion, Ablation Devices)
• By Product Type (Drugs, Devices)
• By Distribution Channel (Hospital, Clinics, Ambulatory Centers)
• By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)
Read Our Report: https://www.datamintelligence.com/research-report/chronic-pain-treatment-market
Market Regional Share
North America Leads the Chronic Pain Treatment Market with 39.6% Share in 2022
North America accounted for approximately 39.6% of the global chronic pain treatment market in 2022, driven by increasing research and development (R&D) activities, a well-established healthcare infrastructure, and supportive reimbursement policies. These factors enhance patient access to advanced therapies, accelerating the adoption of cutting-edge treatment solutions across the region.
A key example of this progress is the U.S. FDA approval of Nevro Corporation’s Senza HFX iQ spinal cord stimulation system on October 14, 2022. This innovative system includes the HFX iQ implantable pulse generator (IPG), HFX trial stimulator, charger, and HFX app, and is designed with specialized algorithms to treat chronic back and leg pain, including non-surgical back pain (NSBP) and painful diabetic neuropathy (PDN).
With continuous advancements in neurostimulation devices and increasing investment in chronic pain research, North America is expected to maintain its leadership in the market throughout the forecast period.
Major Global Players
• Pfizer Inc.,
• Abbott Laboratories,
• Eli Lilly and Company,
• Novartis AG,
• Johnson & Johnson,
• Sanofi SA,
• Teva Pharmaceutical Industries Ltd,
• Baxter International,
• Merck & Co. Inc,
• Boston Scientific Corporation
Download Free Sample PDF: https://www.datamintelligence.com/download-sample/chronic-pain-treatment-market
Market Dynamics
Rising FDA Approvals for Neurostimulation Devices Driving Global Chronic Pain Treatment Market
Advancements in neurostimulation devices are revolutionizing the treatment of chronic neurological disorders, significantly boosting the global chronic pain treatment market. These devices utilize electrical stimulation to modulate neural activity, providing effective pain relief for patients suffering from chronic conditions. The continuous development of innovative neurostimulation technologies and new product approvals are key factors propelling market growth.
For instance, on March 23, 2023, Neuspera Medical, a U.S.-based neuromodulation device manufacturer, received FDA approval for its next-generation Neuspera ultra-miniaturized system. This breakthrough device delivers peripheral nerve stimulation (PNS) through a wireless, minimally invasive, and adaptable platform, offering significant advantages over existing technologies.
Neuspera’s system is the first ultra-miniaturized PNS device, designed to enhance patient comfort and procedural flexibility while providing effective pain management. The Neuspera platform introduces less invasive and more adaptable treatment solutions, improving the quality of life for individuals with chronic pain disorders.
With increasing FDA approvals and technological advancements in neurostimulation, the chronic pain treatment market is expected to witness substantial growth in the coming years.
Market Segments
• By Indication (Neuropathic Pain, Analgesic Infusion, Ablation Devices)
• By Product Type (Drugs, Devices)
• By Distribution Channel (Hospital, Clinics, Ambulatory Centers)
• By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa)
Read Our Report: https://www.datamintelligence.com/research-report/chronic-pain-treatment-market
Market Regional Share
North America Leads the Chronic Pain Treatment Market with 39.6% Share in 2022
North America accounted for approximately 39.6% of the global chronic pain treatment market in 2022, driven by increasing research and development (R&D) activities, a well-established healthcare infrastructure, and supportive reimbursement policies. These factors enhance patient access to advanced therapies, accelerating the adoption of cutting-edge treatment solutions across the region.
A key example of this progress is the U.S. FDA approval of Nevro Corporation’s Senza HFX iQ spinal cord stimulation system on October 14, 2022. This innovative system includes the HFX iQ implantable pulse generator (IPG), HFX trial stimulator, charger, and HFX app, and is designed with specialized algorithms to treat chronic back and leg pain, including non-surgical back pain (NSBP) and painful diabetic neuropathy (PDN).
With continuous advancements in neurostimulation devices and increasing investment in chronic pain research, North America is expected to maintain its leadership in the market throughout the forecast period.
Major Global Players
• Pfizer Inc.,
• Abbott Laboratories,
• Eli Lilly and Company,
• Novartis AG,
• Johnson & Johnson,
• Sanofi SA,
• Teva Pharmaceutical Industries Ltd,
• Baxter International,
• Merck & Co. Inc,
• Boston Scientific Corporation
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results