The global pain management devices market size is expected to reach at USD 10.86 Billion by 2027 to expand at CAGR of 9.0%. 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 COVID-19 pandemic challenges healthcare system throughout the world. Besides, it entails significant challenges owing to social distancing measures. This has led in augmenting the existing chronic conditions in patients with mental and physical disorders. However, telemedicine proves a boon to treat remote patients and the tool has gained a traction in terms of value to medical science. Through telemedicine, patients with chronic conditions can be treated and diagnosed under optimum care.
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 during 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 during 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
Pain Management Devices Application Outlook (Revenue, USD Million, 2016 – 2027)
Cancer
Neuropathic Pain
Facial & Migraine
Musculoskeletal Disorder
Trauma
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
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About Grand View Research
Grand View Research is an India & 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.
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