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.
Browse the full report description of “Chronic Low Back Pain (CLBP) Treatment Market Size, Share & Trends Analysis Report by Treatment Type (Analgesic Medications, Nonsteroidal Anti-Inflammatory Drugs (NSAIDs), Anticonvulsants, Antidepressants, and Others), by Distribution Channel (Online and Offline), and by End-User (Hospitals, Orthopedic Clinic, Ambulatory Surgery Centers, and Others) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/chronic-low-back-pain-clbp-treatment-market
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.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Treatment Type
o By Distribution Channel
o By End-User
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Johnson & Johnson Services Inc, Pfizer Inc., Sanofi S.A., Endo Pharmaceuticals Inc., and Koninklijke Philips N.V.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Chronic Low Back Pain Treatment Market Report Segment
By Treatment Type
By Distribution Channel
By End-User
Global Chronic Low Back Pain Treatment Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/chronic-low-back-pain-clbp-treatment-market