Back Pain Therapy Market Outlook 2020 – Global Analysis, Growth Rate, Back Pain Products, Modern Trend, Demographical Dynamics and Analysis of Key Strategies By 2026
SEATTLE, March 24, 2021, (PHARMIWEB) — Back pain is a medical condition that is caused due to strains in muscles and ligaments in the back. Chronic diseases such as herniated discs, arthritis, and osteoporosis can lead to back pain. Back pain can be categorized- into acute and chronic back pain. Acute pain is the most common type of back pain, whereas chronic back pain is severe and can increase the complications.
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Rising prevalence of back pain among geriatric population is projected to boost growth of the global back pain therapy market
According to study published by Centre for Disea0se Control and Prevention (CDC) in 2012, around 20.3% of the population was suffering from lower back pain in U.S. Moreover, according to a study published by American Chronic Association in 2010, around 80% of the population is projected to experience back pain once in a life. Hence, increasing prevalence of back pain is projected to propel the demand for back pain treatment, which in turn is expected to drive the growth of the global back pain therapy market over the forecast period. Furthermore, the growing geriatric population is also projected to fuel the growth of the market, as chances of back pain increase with the age. According to a study published by the National Centre for Biotechnology Information (NCBI) in 2015, around 19.6% of individuals aged between 20 to 60 years were suffering from low back pain worldwide. According to the United Nations, Economic and Social Commission for Asia and the Pacific (ESCAP) 2016, around 547 million people were above 60 years in the Asia Pacific region and the number is projected to reach around 1.3 billion by 2050. Moreover, the growing geriatric populations across the region such as North America, Europe, and the Asia Pacific is further expected to drive the growth of the global back pain therapy market.
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Back pain therapy market taxonomy –
The back pain therapy market is segmented based on drug type, indication, distribution channel, and geography.
By Drug type-
- Non-steroidal anti-inflammatory drugs
- Muscle relaxants
- Herniated disc
- Chronic Back Pain
By Distribution Channel-
- Online Pharmacies
- Retail Pharmacies
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North America is projected to hold a dominant position in the global back pain therapy market, owing to the development of new therapies
In 2017, U.S.-based Pfizer Inc. and Eli Lilly and company received the U.S. Food and Drug Administration (FDA) fast track designation for its drug tanezumab, which is indicated for the treatment of chronic low back pain. Tanezumab is a humanized monoclonal immunoglobulin G2 (IgG2), which could be used as an alternative to opioids. The rising development of such novel drugs in the U.S. is expected to drive the growth of the market in North America. The Asia Pacific is expected to be the second-largest market for the global back pain therapy market owing to the increasing prevalence of back pain in the aging population. According to a study published by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, the Asia Pacific region constitutes around 60% of the world’s geriatric population. According to a study published by the World Health Organization (WHO) in 2016, an estimated one out of six people in India are projected to suffer from arthritis once in life.
Key players operating in the back pain therapy market include Celebrex, H.J. Harkins Company, Inc., Pfizer, Inc., Cipla Ltd., Apotex Inc., Jubilant Generics Ltd, Purdue Pharma L.P., Johnson & Johnson, Lupin Ltd., and Teva Pharmaceutical Industries Ltd.
Table of Content
Global Back Pain Therapy Market Research Report
Section 1: Global Back Pain Therapy Industry Overview
Section 2: Global Economic Impact on Back Pain Therapy Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Back Pain Therapy Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Back Pain Therapy Market Forecast
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