BackgroundThe magnitude of placebo effects from physical and psychological ‘sham’ is unknown but could impact efficacy trials and treatment understanding. To quantify placebo effects, this systematic review of three‐armed randomised controlled trials (RCTs) of physical and psychological interventions for pain compared outcomes in ‘sham’ control intervention and non‐exposure arms.MethodsRCTs with treatment, ‘sham’ control intervention, and non‐exposure groups were included, enrolling adults with any pain. A protocol was pre‐registered (PROSPERO: CRD42023413324), and twelve databases searched from 2008 to July 2023. Trial methods and blinding were analysed descriptively and risk of bias assessed. Meta‐analysis of pain measures at short‐, medium‐ and long‐term was performed with random‐effects models of standardised mean differences (SMD).Studies were sub‐grouped according to control intervention type.ResultsSeventeen RCTs were included. The average short‐term placebo effect was small (0.21 SMD, 0.1–0.33 95% CI, p = 0.0002, 1440 participants). It showed no heterogeneity (Tau2 = 0.1, I2 = 11%, p = 0.3), preventing meta‐regression analyses of effect modifiers. However, sub‐group analyses revealed larger placebo effects in manual control interventions compared to disabled devices and miscellaneous control interventions. Overall, placebo analgesia accounted for 39% of treatments’ short‐term effectiveness. No placebo effects were found at medium‐term (7 RCTs, 381 participants) or long‐term follow‐up (3 RCTs, 173 participants).ConclusionsThe observed placebo analgesia has mechanistic and methodological implications, though its clinical importance may be limited. Control intervention design affects placebo effects, highlighting the importance of considering methodology in RCT interpretation. Review limitations include a small number of long‐term studies and sample heterogeneity.SignificanceThis systematic review directly quantifies placebo effects from physical and psychological ‘sham’ control interventions and compares them to treatments’ overall effectiveness. By doing so, the review enhances our understanding of placebo effects, their relative contribution in clinical trials, and their susceptibly to trial design. It poses further questions regarding the influence of blinding, participant expectations, and features of the therapeutic context. Overall, the insights provided by this review carry methodological significance and are important for the interpretation and synthesis of efficacy trials in this field.