Global pain management device market is anticipated to witness a steady CAGR in the forecast period 2024-2028. This can be ascribed to increasing neuropathic cancer pain by nerve damage and treatment, including chemotherapy, radiotherapy, and surgery, and rising awareness among people for pain management devices. Additionally, an increasing number of elderly patients would transform healthcare delivery and create a greater demand due to better lifestyles and increasing cases of lower back pain, arthritis, and chronic pain. Moreover, increasing awareness among the general population regarding the treatment and initiatives taken by the government to prevent the rate of associated disorders will propel the market growth in the forecast period. Increasing research and development by scientists to create innovative products to cure chronic pain and initiatives and investments by private and government organizations are propelling the market expansion of the global pain management device market.
Increasing Number of Surgical Procedures
The number of surgical procedures rapidly increased worldwide due to chronic diseases such as cancer and neurological disorders due to leading unhealthy lifestyles. The growing elderly population, as well as the increased frequency of obesity and other lifestyle disorders, are both responsible for this. Besides, the growing prevalence of Orthopedic problems and rising incidences of injuries and falls, among others, is further expected to increase the demand for pain management devices. The elderly population has faced more surgeries, aches, and chronic conditions. In recent years, it has increased the usage of efficient pain relief technology. In the elderly population, chronic pain is extremely common. Infusion pumps, electrical nerve stimulators, and spinal cord stimulators are being used more frequently to cure pain. As of 2019, around 39 percent of adults aged 18 years and older in the United States reported experiencing back pain, while around 9 percent reported experiencing tooth or jaw pain. The percentage of adults 65 years of age and over in the U.S. with chronic pain in 2019 was around 30.8%.
Rising Adoption of Advance Technology
Presently, the first line of treatment for pain management is oral medication due to its easy availability and lower cost. However, because of the development of advanced technologies, FDA-approved non-prescription medical devices, and devices used in combination with prescribed medications or other forms of pain management therapy, the quality of treatment and care has improved immensely. In addition to this, the rising uptake of these devices, increasing per capita income, and the increasing demand for drug-free therapeutic procedures will propel the growth of the market. Manufacturers are continuously aiming at developing innovative pain management devices that can effectively improve the quality of life of patients, which will further boost the market in the forecast period.
Global Pain Management Device market is segmented by product, mode of purchase, application, end user, region, and competitional landscape. Based on product, the market can be segmented into Electrical Stimulators, Radiofrequency Ablation (RFA), Analgesic Infusion Pumps, and Neurostimulation. Based on the mode of purchase, the market can be divided into Over-The-Counter v/s Prescription-Based. Based on Application, the market can be segmented into Cancer, Neuropathic Pain, Facial & migraines, Musculoskeletal Disorders, and Others. Based on End Users, the market can be segmented into Hospitals & Clinics, Physiotherapy Centers, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. In terms of country, United States dominated the overall pain management device market in 2021 and is expected to continue maintaining its dominance through 2028 on account of a growing number of injuries, falls, and surgical procedures performed.
B. Braun Melsungen AG, Bio-Medical Research (BMR) Ltd., Baxter International, Inc., Avanos Medical, Inc., DJO Global, Inc., Medtronic plc, Stryker Corporation, Boston Scientific Corporation, Nipro Corporation, Nevro Corporation are some of the leading players operating in the Global Pain Management Device Market.
In this report, Global Pain Management Device market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Pain Management Device Market, By Product:
–Radiofrequency Ablation (RFA)
–Analgesic Infusion Pumps
• Pain Management Device Market, By Mode of Purchase:
–Over The Counter
• Pain Management Device Market, By Application:
–Facial & Migraine
• Pain Management Device Market, By End User:
–Hospitals & Clinics
• Pain Management Device Market, By Region:
· United States
· United Kingdom
· South Korea
–Middle East & Africa
· South Africa
· Saudi Arabia
Company Profiles: Detailed analysis of the major companies present in Global Pain Management Device Market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).