Publication Month: May 2020 | Report Code: TIPHE100000860 | No. of Pages: 197 | Category: Medical Device | Status: Published
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. However, lack of awareness regarding pain management is likely to hinder the growth of the pain management devices market during the forecast period.
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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.
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.
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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.
|Market Size Value in||US$ 4,527.31 Million in 2019|
|Market Size Value by||US$ 8,388.67 Million by 2027|
|Growth rate||CAGR of 8.1% from 2020-2027|
|No. of Pages||197|
|No. of Tables||119|
|No. of Charts & Figures||72|
|Historical data available||Yes|
|Segments covered||Product Type ; Application ; and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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Product launches and FDA approval strategies are commonly adopted by companies to expand their footprint and product portfolio worldwide in order to meet the growing demand. The market players operating in the pain management devices market adopt the strategy of collaborations to enlarge customer base across the world, which also permits the players to maintain their brand name globally.
The List of Companies - Pain Management Devices Market