According to FutureWise analysis the market for chronic lower back pain is expected to reach US$ 14.95 billion by 2031 at a CAGR of 5.6%.
Chronic low back pain occurs after an initial injury or underlying cause of acute low back pain persists for 12 weeks or longer. The problem of low back pain is very common, and everyone has likely encountered it at some point. It is called chronic low back pain when it lasts more than 3 months. This may be caused by injury, disease, or stress to different structures of the body, and the pain may vary significantly and be felt as nerve pain, bone pain, or muscle pain. Depending on the severity of the pain, it can also be mild or severe. As the second leading cause of disability worldwide, CLBP has a significant impact on both welfare and the economy. Adult CLBP has increased significantly in the last decade and is constantly increasing as the population ages. There is no difference in the prevalence of this condition among men and women of all ethnic backgrounds. As a result of this disease, you will also experience depression, which results in stress, and anxiety. The effects of CLBP are physical and psychological, and they result in a significant economic burden due to lost function, treatment costs, decreased work productivity, and disability benefits. Growth in the geriatric population and an increase in nerve cases are the major growth drivers of the Chronic Lower Back Pain Market. The National Institute of Neurological Disorders and Stroke estimates that most adults will experience some form of low back pain during their lifetime. Additionally, inactive lifestyles, rising healthcare awareness among developed and underdeveloped countries, and consumer disposable incomes are expected to contribute to market growth.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Chronic Lower Back Pain Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Chronic Lower Back Pain Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.