An extensive analysis on the global market for pain management devices has been released by a well-known market research company, highlighting significant development potential over the predicted period. The market is anticipated to reach a valuation of $9,971.6 million by 2031, exhibiting a strong compound yearly growth rate (CAGR) of 8.3% from 2021 to 2031, per the research.
One of the main factors fueling market expansion is the ageing population’s rising demand for chronic pain management. Chronic pain issues like arthritis, neuropathy, and musculoskeletal illnesses are becoming more common as the world’s population ages. As a safer and more efficient alternative to conventional pain drugs, pain management devices offer non-invasive and drug-free ways to reduce pain. Adoption of pain management devices is being sparked by the ageing population’s rising demand for pain management solutions.
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The market is growing as technically sophisticated pain management devices are becoming more widely available. Medical technology is always improving, which has resulted in the creation of cutting-edge pain management devices with improved features and capabilities. These tools, such as neurostimulators, analgesic infusion pumps, and transcutaneous electrical nerve stimulation (TENS) units, offer tailored pain management and enhance patient outcomes. Their popularity in home healthcare settings has been further accelerated by the development of portable, user-friendly gadgets.
Supportive reimbursement practises and the negative side effects of painkillers are additional major drivers of market expansion. Governments and medical institutions have realised the value of pain control devices in lowering medical expenses and enhancing patient outcomes. As a result, advantageous reimbursement procedures have been put in place, increasing the availability and affordability of pain treatment devices. Furthermore, the demand for pain management devices has increased as a result of patients and healthcare professionals looking into alternative pain management choices due to the potential adverse effects and hazards connected with long-term use of painkillers.
This in-depth market research study offers useful information on current market dynamics, trends, and potential opportunities, enabling stakeholders to make knowledgeable business decisions in the quickly changing global market for pain management devices.
Highlighted with 82 tables and 79 figures, this 156-page report “Global Pain Management Devices Market 2021-2031 by Product (Neuromodulation & Neurostimulation Devices, Analgesic Infusion Pumps, Ablation Devices), Application (Neuropathic Pain, Musculoskeletal Pain, Cancer Pain, Facial & Migraine Pain, Others), Mode of Purchase (Prescription, OTC), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global pain management devices market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
- Market Structure
- Growth Drivers
- Restraints and Challenges
- Emerging Product Trends & Market Opportunities
- Porter’s Fiver Forces
The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global pain management devices market in every aspect of the classification from perspectives of Product, Application, Mode of Purchase, and Region.
View Report Scope and Latest Developments in the Market: MW Link https://www.marketwatch.com/press-release/pain-management-devices-market-research-2023-to-deliver-prominent-growth-striking-opportunities-during-2032-2023-06-02?mod=search_headline
Based on Product, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Neuromodulation & Neurostimulation Devices
o Spinal Cord Stimulators
o Transcutaneous Electrical Nerve Stimulation (TENS) Devices
o Sacral Nerve Stimulators
o Deep Brain Stimulators
o Other Neuromodulation & Neurostimulation Devices
- Analgesic Infusion Pumps
o External Infusion Pumps
o Intrathecal Infusion Pumps
- Ablation Devices
o Radiofrequency Ablation Devices
o Cryoablation Devices
Based on Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Neuropathic Pain
- Musculoskeletal Pain
- Cancer Pain
- Facial & Migraine Pain
- Other Applications
By Mode of Purchase, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
- Prescription
- Over-the-counter (OTC)
Geographically, the following regions together with the listed national/local markets are fully investigated:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
- APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
- South America (Brazil, Chile, Argentina, Rest of South America)
- MEA (UAE，Saudi Arabia， South Africa and Rest of MEA)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Product, Application and Mode of Purchase over the forecast years are also included.
The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Selected Key Players:
- Abbott Laboratories
- Braun Melsungen AG
- Baxter International Inc.
- Becton, Dickinson and Company
- Boston Scientific Corp.
- Colfax Corporation (DJO Global LLC)
- Johnson & Johnson (Codman and Shurtleff, Inc.)
- Kimberly Clark Corporation
- Medtronic Plc.
- Nevro Corp
- Pfizer, Inc.
- Smiths Medical, Inc.
- Stryker Corp.
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