February 21, 2024

Increased research funding to fuel the growth of Sciatica Market

The global Sciatica Market is estimated to be valued at US$ 6962.2 Mn 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 is caused by compression or irritation of the sciatic nerve, which branches from the lower back through the hips and buttocks and down each leg. Symptoms include pain, numbness, and weakness that typically occurs on one side of the body. Sciatica treatments aim to relieve pain and speed recovery, often through medicines, physical therapy, exercises, chiropractic manipulation, and occasionally surgery. Nonsteroidal anti-inflammatory drugs (NSAIDs), analgesics, muscle relaxants, and corticosteroids are commonly prescribed for pain relief. Physical therapy focuses on stretching and strengthening exercises to take pressure off the sciatic nerve. Devices such as traction provide relief by elongating the spine and opening spaces in the spinal column.

Market key trends:
One of the key trends in the sciatica market is growing research funding for treatment development. Several biopharmaceutical companies are conducting clinical trials to evaluate the therapeutic potential of novel medications for sciatica. For instance, Sorrento Therapeutics, Inc. is developing non-opioid pain management treatments including STI-1517, a TRPV1 receptor antagonist, for treating acute and chronic pain conditions like sciatica. Amneal Pharmaceuticals LLC launched a generic version of Zanaflex capsules, a muscle relaxant useful for sciatica. Moreover, growing prevalence of lower back pain disorders linked to sedentary lifestyles and obesity is expected to drive the demand for sciatica medications over the forecast period.
Porter’s Analysis

Threat of new entrants: Low due to high capital requirements and established networks of existing players.

Bargaining power of buyers: High due to presence of many players offering substitutes.

Bargaining power of suppliers: Moderate due to availability of substitute materials.

Threat of new substitutes: High owing to availability of alternative treatment options.

Competitive rivalry: High among existing players to gain higher market share.

Key Takeaways

The global Sciatica Market is expected to witness high growth, exhibiting a CAGR of 5.1% over the forecast period, due to increasing aging population and rising cases of spinal disorders.

Regional analysis: North America dominated the global market in 2023 and is expected to maintain its position over the forecast period, owing to increasing prevalence of herniated discs in the region. The Asia Pacific region is anticipated to exhibit the fastest growth rate during the forecast period, attributable to rising healthcare expenditure and growing medical tourism 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.