The global pain management devices market size is expected to reach USD 10.86 billion by 2027 registering a CAGR of 9.0%, according to a new report by Grand View Research, Inc. Increasing cases of chronic pain and technological advancement are driving the market growth. The rising prevalence of chronic diseases coupled with the increasing geriatric population across the globe is the major factor augmenting the growth of this market. Preference for pain management devices over oral drugs and surgical interventions is also likely to be a high impact rendering driver for the market over the forecast period. The global market is expected to witness strong growth as a result of various technological advancements in this field.
The
recent electrostimulation devices that are launching in the marketplace have
advancements in the form of Microelectromechanical Systems (MEMS), Artificial
Intelligence (AI), and machine learning applications. Most of the elective
surgeries were postponed or canceled during the Covid-19 pandemic to decrease
the exposure of the patients as well as the healthcare providers, which is
expected to increase the demand for pain management devices. In August 2020,
the U.S. FDA issued an Emergency Use Authorization (EUA) for the non-invasive
vagus nerve stimulator to assist Covid-19 patients at home with asthma-related
dyspnea.
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Pain Management
Devices Market Report Highlights
- The
neurostimulation segment dominated the market with a share of over 57% in
2019 owing to the increased prevalence of neurological disorders
- The
radiofrequency ablation segment is expected to show lucrative growth over
the forecast period owing to the growing prevalence of chronic and
cardiovascular diseases and preference for minimally invasive surgeries
- Neuropathic
pain dominated the application segment with a share of more than 30% in
2019 and will expand further at a steady CAGR from 2020 to 2027 due to
rising cases of neuropathic pain and new product launches by the industry
players
- The cancer
application segment is expected to register the fastest growth over the
forecast period owing to the increasing usage of pain management devices
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Pain Management
Devices Market Segmentation
Grand View Research has
segmented the global pain management devices market on the basis of product,
application, and region:
Pain Management
Devices Product Outlook (Revenue, USD Million, 2016 - 2027)
- Electrical Stimulators
- TENS
- Others
- Radiofrequency Ablation
- Analgesic Infusion Pumps
- Intrathecal Infusion Pumps
- External Infusion Pumps
- Neurostimulation
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Neurostimulators
- Others
Pain Management
Devices Application Outlook (Revenue, USD Million, 2016 - 2027)
- Cancer
- Neuropathic Pain
- Facial & Migraine
- Musculoskeletal Disorder
- Trauma
- Others
Pain Management
Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- The Netherlands
- Asia Pacific
- Japan
- China
- India
- Australia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key
Players of Pain Management Devices Market
- Smiths Medical
- B. Braun Melsungen AG
- Baxter
- Boston Scientific Corp.
- Colfax Corp.
- Medtronic Plc
- Nevro Corp.
- Abbott
- Stryker
- Omron Healthcare, Inc.
- Stimwave LLC
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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