Report : Asia Pacific Pain Management Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product Type (Neuromodulation Devices, Ablation Devices, Analgesic Infusion Pumps); Application (Neuropathic Pain, Cancer Pain, Facial Pain and Migraine, Musculoskeletal Pain, Others), Country
Neuromodulation Devices segment by Product is estimated to lead the market growth during the forecast period
According to The Insight Partners market research study of “Asia Pacific Pain Management Devices Forecast to 2027 - COVID-19 Impact and Global Analysis by Product and Application,” the Asia Pacific pain management devices is projected to reach US$ 1,869.84 million by 2027 from US$ 969.30 million in 2019. The market is estimated to grow at CAGR of 8.7% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific pain management devices market and the factors driving market along with those that act as hindrances.
Based on Product, the Asia Pacific pain management devices market is further segmented into neuromodulation devices, ablation devices, and analgesic infusion pumps. The neuromodulation devices segment held the largest share of the market in 2019. However, the ablation devices segment is estimated to register the highest CAGR of 9.1% in the market during the forecast period. Neuromodulation devices are technically advanced; they are designed to treat migraine attacks and the cluster of headaches. The devices enhance or suppress the nervous system activities that it to reduce pain. A neuromodulation device utilizes electrical currents or magnets to control signaling activity in the brain. A neuromodulation device is often known as a neurostimulator and has two types, such as portable and implantable. The FDA has issued few approvals for the neuromodulation devices to treat migraines. The segment is further divided into transcutaneous electrical nerve stimulation (TENS) devices and spinal cord stimulation (SCS) devices.
Asia Pacific pain management devices market is expected to grow owing to factors such as growth include growing rising of chronic pain incidences and growing geriatric population. Whereas, the market is likely to have negative impact due to the high procedural and purchase cost of pain management device, such as its nearly impossible for the middle class to effort pain management devices.
Pfizer Inc, Abbott, Smith’s Group plc, Medtronic, BD, are among the leading companies operating in the Asia Pacific pain management devices market.
The report segments in Asia Pacific Pain Management Devices market as follows: