Market Analysis and Insights:- Global Lower Back Pain Market
Global Lower Back Pain Market By Type of Disease (Acute, Sub-Acute, Chronic), Type (Diagnosis, Treatment), End User (Hospitals, Orthopaedic Clinics, Ambulatory Surgery Centres, Others), Distribution Channel (Direct, Retail), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Lower Back Pain Market
Global lower back pain market is expected to register a substantial CAGR of 5.2% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased development of novel drugs for lower back pain and increasing cases of chronic lower back pain in various regions globally.
Market Definition: Global Lower Back Pain Market
Low back pain (LBP) is a type of muscle tension, musculoskeletal pain, or rigidity located above the gluteal sulcus and below the bottom edge of rib cage. The low back pain can be of three types: acute, sub-acute and chronic. Numerous disorders and diseases which disturb the lumbar region of the spine can cause this type of pain. According to the National Institute of Neurological Disorders and Stroke 2019 report approximately 80 percent adults experience this type of low back pain at some point of time in their lifetimes. According to the American Chiropractic Association report, America spends approximately USD 50,000 million in health care for the low-back pain each year.
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Inactive lifestyle is expected to drive the growth of the market
Rising nerve cases can act as a market driver
Rising use of emerging antidepressants is expected to boost the growth of this market
Increasing geriatric population also enhances the market growth
Unfavourable results of medications is expected to restrict the growth of the market
Stringent regulatory policies, is restricting the overall adoption of these meters
Unavailability of the medication is expected to restrict the growth of the market
Segmentation: Global Lower Back Pain Market
By Type of Disease
Nonsteroidal Anti-Inflammatory Drugs
Ambulatory Surgery Centres
By Distribution Channel
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of Middle East and Africa
Key Developments in the Market:
In July 2018, Pfizer Inc. and Eli Lilly and Company received FDA approval for its tanezumab which can be used in the treatment of chronic low back pain (CLBP) and chronic pain of osteoarthritis (OA) patients. Tanezumab is a new humanized monoclonal antibody. This drug binds and inhibits nerve growth factor (NGF). This is the first NGF inhibitor which has received the Fast Track designation for serious conditions
In July 2016, Relievant Medsystems, Inc. received FDA approval for its Intracept intraosseous nerve ablation system. This device is specially designed to treat chronic lower back pain. This product approval has created a milestone for the company
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Global lower back pain market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of lower back pain market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Major Market Competitors/Players
Few of the major competitors currently working in the global lower back pain market are Pfizer Inc., Johnson & Johnson Services, Inc., Sanofi, Endo Pharmaceuticals Inc., Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd., Vertebral Technologies, Inc., Medtronic, Boston Scientific Corporation, BioWave Corporation, Koninklijke Philips N.V., Stayble Therapeutics AB, Axsome Therapeutics, Inc. , Mesoblast Ltd, ALLERGAN, Frontier Biotechnologies Inc., Astellas Pharma Inc., SpineThera, Inc., CELGENE CORPORATION, Teva Pharmaceutical Industries Ltd. among others.
Research Methodology: Global Lower Back Pain Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
Current and future of global lower back pain market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
All segmentation provided above in this report is represented at country level
All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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