Medical Companies Address Chronic And Acute Pain Market, Reaching $151.7 Billion By 2030, With Variety Of Treatments: Electrotherapy, Device-Based Medical Therapies, OTC And Prescription-Drug Pharmaceuticals As COVID-19 Pandemic Heightens Global Opioid Crisis

Posted November 4, 2020

In NASDAQ: AXSM, NYSE: ABT, NYSE: BMY, NYSE: BSX, NYSE: GSK, NYSE: JNJ, NYSE: LLY, NYSE: MDT, NYSE: NVRO, NYSE: NVS, OTCQB: EMED

Medical company leaders in the chronic and acute pain market are addressing these issues with diverse treatments: from electrotherapy devices to OTC and prescription-drug pharmaceuticals. A new study projects a chronic and acute pain treatment market of $151.7 billion by 2030. The report by Prescient & Strategic Intelligence defines the global chronic pain market. These medical companies are also addressing the COVID-19 pandemic and its impact on heightening the global opioid abuse crisis. The number of large and niche firms addressing the chronic pain market is large and growing.

The chronic pain treatment market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of related stocks such as Electromedical Technologies, Inc. (OTCQB: EMED), Medtronic PLC (NYSE: MDT), Nevro Corp. (NYSE: NVRO), Axsome Therapeutics, Inc. (NASDAQ: AXSM). GlaxoSmithKline (NYSE: GSK), Abbott Laboratories (NYSE: ABT), Eli Lilly (NYSE: LLY), Boston Scientific Corporation (NYSE: BSX), Novartis AG (NYSE: NVS), Johnson & Johnson (NYSE: JNJ) and Bristol-Myers Squibb (NYSE: BMY).

Medical Companies Address Chronic And Acute Pain Market, Reaching $151.7 Billion By 2030, With Variety Of Treatments: Electrotherapy, Device-Based Medical Therapies, OTC And Prescription-Drug Pharmaceuticals As COVID-19 Pandemic Heightens Global Opioid Crisis

The BioPharma Journal has reported on the chronic pain market and the opioid crisis, being stimulated by the COVID-19 pandemic. The publication estimated that greater than 100 million Americans suffer from some kind of chronic pain. A large number of leading medical firms are developing OTC, prescription-quality and diverse treatments for chronic and acute pain management. Medical Companies Address Chronic And Acute Pain Market, Reaching $151.7 Billion By 2030, With Variety Of Treatments: Electrotherapy, Device-Based Medical Therapies, OTC And Prescription-Drug Pharmaceuticals As COVID-19 Pandemic Heightens Global Opioid Crisis.

Treatment Of Chronic And Acute Pain Will Be A $151.7 Billion Market By 2030

Research firm Prescient & Strategic Intelligence sees the chronic pain treatment market hitting $151.7 Billion by 2030, reflecting a CAGR of 6.5%% during the forecast period from 2020-2030. The pandemic accelerated the opioid epidemic crisis in the research period. The report finds that North America dominates the global chronic pain market. Medical Companies Address Chronic And Acute Pain Market, Reaching $151.7 Billion By 2030, With Variety Of Treatments: Electrotherapy, Device-Based Medical Therapies, OTC And Prescription-Drug Pharmaceuticals As COVID-19 Pandemic Heightens Global Opioid Crisis.

Here is List Of Leading Medical Companies And How They Address Chronic And Acute Pain, Especially In This COVID-19 Pandemic

Key firms and their strategies to gain share and impact in the chronic pain treatment market include:

MedTronic PLC (NYSE: MDT) offers drug infusion systems for chronic pain including its PTM™ Personal Therapy Manager works with the SynchroMed™ II Pump to help alleviate unpredictable pain by enabling on-demand intrathecal boluses. It is designed to help eliminate the need to treat unpredictable pain with systematic medication.

Abbott Laboratories (NYSE: ABT) has developed FDA approval for its XR SCS System to help treat patients with intractable chronic pain located in the truck and/or limbs.

GlaxoSmithKline plc (NYSE: GSK) received FDA approval for its Voltaire Arthritis Pain as an OTC product. It was the first prescription-strength NSAID topical get available OTC in the U.S. The product offers temporary relief from arthritis pain.

Axsome Therapeutics Inc. (NASDAQ: AXSM), a clinical stage biopharmaceutical company, has in its product pipeline AXS-05 which is in its phase III clinical trial for the treatment of resistant depression and depressive disorders. It is also in phase II/III clinical trials in agitation associated with Alzheimer’s disease. Additionally, it is also in Phase III clinical trials for Phase III clinical trials for the treatment of migraine.

Electromedical Technologies, Inc. (OTCQB: EMED) This commercial stage Company is marketing a line of FDA cleared devices for the treatment of chronic acute post traumatic and post-operative, intractable pain relief. Its WellnessPro™Plus device treats chronic and acute pain. The Company is planning to launch the Wellness Pro® It is collaborating with universities and colleges to establish a comprehensive research program that defines the effects of electro-modulation on the human body — especially cell signaling and its effects on virus assembly and immune responses.

Eli Lilly (NYSE: LLY) has a separate division for developing pain management. It focuses on COVID-19, developing new medicines to treat pain and is cautious about opioids for treating migraine. The results can be opioid-addiction. Eli Lilly is seeking to develop treatments for neuropathic pain, as well.

Novartis AG (NYSE: NVS) has an expanding presence in Specialty Neurology, including a portfolio of products, in developing a portfolio of products in development for migraine and neuropathic pain. The Company is also developing treatments and medicines/therapies for the treatment of Alzheimer’s disease.

Source: Stock Market Press

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Ruchika Gupta

Ruchika Gupta is a writer for Stock Market Press, covering technology, energy, cannabis, finance, biotech and industrials, among other sectors. She holds a maters's degree in English and produces financial and business content for a range of media outlets.