Pain Management Devices Market reach USD 8,388.67 million in 2027

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The pain management devices market is expected to reach US$ 8,388.67 million in 2027 from US$ 4,527.31 million in 2019. The market is estimated to grow with a CAGR of 8.1% from 2020 to 2027.

According The Insight Partners study on “Pain Management Devices Market Forecast to 2027 – COVID-19 Impact and Global Analysis –  Type, Application” The report offers insights and in-depth analysis of the Pain Management Devices Market  emphasizing on various parameters, such as market trends and opportunities, market dynamics, and competitive landscape analysis of leading market players across North America, Europe, Asia Pacific, South and Central America, and Middle East Africa. It also includes the impact analysis of COVID-19 pandemic across the regions.

Pain management devices are used for managing or controlling the pain caused due to medical conditions like arthritis, injury, cancer, and others. Devices for pain management are used according to the severity of the pain, these devices are widely used in hospitals during the pain management therapy. The global pain management devices market is driven by factors such as increasing chronic pain incidences, rising product launches, and growing geriatric population

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Market Insights

Increasing Chronic Pain Incidences

The increasing incidences of chronic diseases such as cancer, cardiovascular diseases, neurovascular diseases, and musculoskeletal diseases are likely to drive the growth of the pain management devices market. These diseases affect a person’s health critically by lowering immunity and resulting in chronic pain. The incidences of the aforementioned diseases are most commonly seen in adults and geriatric population. According to the Centers for Disease Control and Prevention data of October 2019, in the US, 6 in 10 adults live with at least one chronic disease. Additionally, in the US, 4 in 10 adults live with two types of chronic disease. Moreover, it has been observed that the aforementioned diseases are noticeably increasing among children.

The incidences of chronic pain are commonly seen among athletes, sportspersons, and people living with past injuries. The chronic pain incidences increase the dependency of a person on others for various daily activities. Therefore, pain management is essential to carry out normal daily routine. The pain management devices provide relief for longer durations and also improve their health. A wearable pain management device is easy to use and operate; thus, it reduces the person’s dependency on others. Therefore, owing to the advantages of pain management devices, the demand for the same is rising among patients with chronic diseases.

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Product Type Insights

Based on product type, the pain management devices market is segmented into neuromodulation devices, ablation devices, and analgesic infusion pumps. The neuromodulation devices segment held the largest share of the market in 2019 owing to wide application of these devices and increasing number of market players operating in this segment. However, the ablation devices segment is estimated to register the highest CAGR in the market during the forecast period.

Application Insights

Based on application, the pain management devices market is segmented into production neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others. The neuropathic pain segment held the largest share of the market in 2019; however, the musculoskeletal pain segment is estimated to register the highest CAGR in the market during the forecast period.

Pain Management Devices Market  : Competitive Landscape and Key Developments

Medtronic plc,Abbott (St. Jude Medical),Boston Scientific Corporation,Hospira, Inc.,Halyard Health, Inc,Smiths Medical,B. Braun Melsungen AG,Neurotech NA, Inc.,BD,Nevro Corp.

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