Jou 11: Day 11

September is Chronic Pain Awareness Month.

Fibromyalgia is a form of chronic pain.

Many people who find themselves disabled by chronic pain have heard the insulting question, "what are your secondary gains of having this alleged disability?" No one ever asks, "what are your primary loses for having this disability?"

Researchers are very quick to discuss how much chronic pain costs our society, between 560-630 billion dollars a year, in lost or reduced employee production and increased patient utilization of the medical profession. No one discusses out loud the economic gains experienced by the healthcare field and the pharmaceutical industry. In September 2020, P&S Intelligence, via a press release, reported that:

"The incidence of chronic diseases, including cancer, osteoarthritis, sickle-cell

anemia, fibromyalgia, and autoimmune diseases, such as rheumatoid arthritis, is increasing around the world. This is the primary factor due to which the global

chronic pain treatment market would witness a 6.5% CAGR [Compound Annual

Growth Rate] between 2020 and 2030, to reach $151.7 billion by 2030, from $77.8

billion in 2019. All these conditions cause long-lasting pain, thereby leading to a

high demand for pain management services".

It appears that chronic pain generates the greatest income for the pain treatment industry in the areas of physiotherapy, medication, corrective surgery, psychological therapy, medical devices, and therapeutic nerve blockers per the press release. P&S Intelligence went on to report that "hospitals have held the largest share in the chronic pain treatment market. It is expected that hospitals will continue to hold the largest share due to the ever-increasing numbers of surgeries they perform.”

P&S Intelligence continues the discussion of the money-making side of chronic pain stating "North America is the largest chronic pain treatment market" closely followed by the growing Asia-Pacific (APAC) region. The press release concluded stating …

"The major players in the global chronic pain treatment market are

· GlaxoSmithKline plc,

· Eli Lilly and Company,

· Medtronic plc,

· Pfizer Inc.,

· Boston Scientific Corporation,

· Abbott Laboratories,

· Johnson & Johnson,

· Novartis AG,

· Bristol-Myers Squibb Company,

· AstraZeneca plc,

· Sanofi S.A., and

· Becton, Dickinson and Company."

Source:

Chronic Pain Treatment Market to Cross $151.7 Billion Value by 2030: P&S Intelligence

NEW YORK, Sept. 23, 2020

www.prnewswire.com/news-releases/chronic-pain-treatment-market-to-cross-151-7-billion-value-by-2030-ps-intelligence-301136366.html