Chronic Low Back Pain (CLBP) Treatment Market Will Generate Record Revenue by 2029

The chronic low back pain (CLBP) treatment market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2023-2030). According to the Center for Disease Control and Prevention enters (CDC), in 2019, 39.0% of adults had back pain. Adults aged 65 and over, women, and those with income below 100% of the federal poverty level (FPL) were most likely to experience back pain. Furthermore, according to World Health Organization (WHO), between 2015 and 2050, the proportion of the global population over 60 years will nearly double from 12% to 22%. Thus the growing geriatric population coupled with growing instances of lower back pain is the key factor anticipated to propel the market growth. In order to meet such rising demand, the market players are increasingly investing in R&D activities of new drugs for treating CLBP. For instance, in February 2019, Pfizer and Eli Lilly announced positive top-line results from a Phase 3 study of tanezumab in patients with moderate-to-severe chronic low back pain (CLBP). Tanezumab is part of an investigational class of non-opioid pain medications known as nerve growth factor inhibitors.

Further, the growing investment in healthcare companies manufacturing drugs for lower back pain management is driving market growth. For instance, in September 2022, IOL Chemicals and Pharmaceutical Ltd approved an investment worth $2.1 million in US Pharma Ltd. The company is involved in the manufacturing of back pain medicines such as acetaminophen and nonsteroidal anti-inflammatory drugs (NSAIDs).  The investment to the US Pharma Ltd will be further utilized to expand its services, research & development, and drug manufacturing capacity. Such investments are creating a positive outlook for the discovery of new drugs and improvising the effect of existing drugs which in turn is anticipated to boost the growth of the CLBP treatment market.

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Market Coverage

•                 The market number available for – 2022-2030

•                 Base year- 2022

•                 Forecast period- 2023-2030

Segment Covered- 

·                  By Treatment Type

·                  By Distribution Channel

·                  By End-User 

Regions Covered-

·                  North America

·                  Europe

·                  Asia-Pacific

·                  Rest of the World

•                 Competitive Landscape- Johnson & Johnson Services Inc, Pfizer Inc., Sanofi S.A., Endo Pharmaceuticals Inc., and Koninklijke Philips N.V.

Chronic Low Back Pain Treatment Market Report Segment

By Treatment Type

•                 Analgesic Medications

•                 Nonsteroidal Anti-Inflammatory Drugs (NSAIDS)

•                 Anticonvulsants

•                 Antidepressants

•                 Others (Muscle Relaxants)

By Distribution Channel

•                 Online

•                 Offline

By End-User 

•                 Hospitals

•                 Orthopedic Clinic

•                 Ambulatory Surgery Centers

•                 Others (Educational institution)

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Chronic Low Back Pain Treatment Market Report Segment by Region

North America                                                                                                           

·        United States

·        Canada                     

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan              

·                  South Korea

·                  Rest of APAC

Rest of the World

•       Latin America

•       Middle East and Africa 

Company Profiles 

•       Boston Scientific Corp.

•       Bristol-Myers Squibb Co.

•       Eli Lilly and Co.

•       Endo Pharmaceuticals Inc.

•       GlaxoSmithKline plc

•       Johnson & Johnson Service Inc.

•       Koninklijke Philips N.V.

•       Lupin ltd.

•       Medtronic plc

•       Merck & Co., Inc., 

•       Novartis AG

•       Pfizer, Inc.

•       Sanofi S.A.

•       Takeda Pharmaceuticals

•       Vertebral Technologies Inc.

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