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The global Sciatica Market is estimated to be valued at US$ 6962.2 Mn or in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sciatica refers to pain that radiates along the path of the sciatic nerve which generally originates in the lower back and travels down the back of each leg. It causes symptoms like stabbing pain, weakness, numbness or tingling that range from mild to severe. The treatment cures symptoms and relieves pain associated with the condition.
Market key trends:
One of the major trends that have been observed in the sciatica market is the increasing number of product approvals and launches. For instance, in June 2020, Sorrento Therapeutics, Inc. announced positive results from its Phase 1 trial of STI-2099, a small molecule, COX-2 Inhibitor for the treatment of chronic low back pain and sciatica. It showed promising results in reducing pain levels when administered. Similarly, in September 2019, SPRIX (ketorolac tromethamine) Nasal Spray CIII received approval from the U.S. FDA for short-term treatment of moderate to severe acute pain in adults and for treatment of postoperative pain in adults following tooth extraction. These new product approvals are expected to boost the growth of sciatica market during the forecast period.
Market key trends:
One of the key trends in the sciatica market is the rising adoption of minimally invasive procedures for sciatica treatment such as microdiscectomy. Minimally invasive microdiscectomy is preferred over conventional open discectomy as it is associated with less post-operative pain, shorter hospital stay, and faster recovery. The technique offers superior visualization with the help of magnification and allows for less muscle disruption. This has propelled the demand for percutaneous and endoscopic spine devices used for microdiscectomy procedures.
SWOT Analysis:
Strength: Growing prevalence of lower back pain and disc herniation issues that cause sciatica.
Weakness: High costs associated with surgery and other treatment options.
Opportunity: Development of new drug formulations, devices and minimally invasive procedures for improved treatment outcomes.
Threats: Presence of alternative pain management therapies and self-care treatment options.
Key Takeaways
The global sciatica market is expected to witness high growth, exhibiting CAGR of 5.1% over the forecast period, due to increasing rates of obesity which is a major risk factor for developing back pain and sciatica.
Regionally, North America is expected to dominate the global sciatica market during the forecast period. This is attributed to the growing geriatric population, increasing healthcare expenditures, rising prevalence of back pain disorders, and availability of advanced treatment options in the region.
Key players operating in the sciatica market are Sorrento Therapeutics, Inc., Teva Pharmaceutical Industries Ltd., Aurobindo Pharma Ltd., Zydus Cadila, Glenmark Pharmaceuticals Ltd., Amneal Pharmaceuticals LLC, Jubilant Life Sciences Ltd., Hikma Pharmaceuticals PLC., Mylan N.V., Horizon Therapeutics Plc., Sun Pharmaceutical Industries Ltd., Alkem Labs, SCILEX Pharmaceuticals, Inc., Seikagaku Corporation, Kolon Life Science, Inc., Teijin Limited, and SpineThera, Inc.
