Pain Management Devices Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

The increasing geriatric population along with the rising prevalence of chronic diseases are the contributing factors to the market growth of the pain management device market. For instance, as per CDC, in 2020, as many as 5.8 million Americans were living with Alzheimer’s disease. This number is projected to nearly triple to 14 million people by 2060. Furthermore, technological advancements in medical technology and the rising awareness about pain management devices also contribute to the considerable market share of pain management devices.

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According to UnivDatos Market Insights (UMI)’ research report “Global Pain Management Devices Market Analysis, 2021”, the pain management devices market is projected to grow at a CAGR of ~8% during 2021-27F. Deteriorating health coupled with the rising cost of medical treatment is one of the major reasons of concern across the globe owing to the advancement in medical technology. These factors are driving the worldwide demand for efficient treatment solutions augmenting the growth of the pain management devices market globally.

Based on the product type, the market is segmented into electrical stimulators, radiofrequency (RF) ablation, analgesic infusion pumps, neurostimulation, and others. The RF ablation segment is expected to witness significant growth in the pain management market. The rising demand for minimally invasive treatment attributes to the significant market share of the segment in the pain management device market. Furthermore, the higher effectiveness of the devices in treating chronic pain, and the rising prevalence of diseases that cause such as Arthritis is contributing to the market growth of the RF ablation segment. For instance, as per CDC, about 1 in 4 US adults (23.7%) or about 58.5 million people have doctor-diagnosed arthritis.

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Based on the application, the market is segmented into cancer, neuropathic pain, facial & migraine, musculoskeletal disorder, trauma, and others. The cancer segment grabbed significant market share in the pain management devices market in 2020. This is mainly due to the rising incidences of cancer that result in the occurrence of chronic pain. For instance, as per the WHO, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020.

Based on the end-users, the market is segmented into physiotherapy centers, hospitals & clinics, and others. The hospitals & clinics segment grabbed significant market share in the pain management devices market in 2020. This is mainly due to their specialization in the treatment of multiple diseases. Furthermore, the rising prevalence of chronic diseases is also a contributing factor to the segmental growth of the hospitals & clinics in the pain management devices market. For instance, as per the CDC, about 659,000 people in the United States die from heart disease each year accounting for around 25% of the population of the U.S who is suffering from heart disease.

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North America to Grab Lion’s Share, and witnessed Explicit Growth

Based on the region, North America dominated the global pain management devices market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the well-established market players and frequent product launches. North America is expected to skyrocket with a steady CAGR in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Pain Management Devices Market Analysis, 2021”.  

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the ultrasonic electrosurgical device market include B Braun Melsungen AG, Baxter International Inc., Boston Scientific Corp., Nevro Corp., Enovis, OMRON Healthcare Inc., Medtronic plc, ICU Medical Inc., Abbott Laboratories, and Stryker Corporation, among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.  

“Global Pain Management Devices Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for pain management devices providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1.     By Product(Electrical Stimulators, Radiofrequency (RF) Ablation, Analgesic Infusion Pumps, Neurostimulation, and Others.)

2.     By Application (Cancer, Neuropathic Pain, Facial & Migraine, Musculoskeletal Disorder, Trauma, and Others)

3.     By End-users (Physiotherapy Centers, Hospitals & Clinics, and Others)

4.     By Region (North America, Europe, Asia-Pacific, Rest of the World)

5.     By Company (B Braun Melsungen AG, Baxter International Inc., Boston Scientific Corp., Nevro Corp., Enovis, OMRON Healthcare Inc., Medtronic plc, ICU Medical Inc., Abbott Laboratories, and Stryker Corporation)

Key questions answered in the study:

1.     What are the current and future trends in the pain management devices industry?

2.     How the industry has been evolving in terms of product type, application, and end-users?

3.     How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.     What are the key growth drivers and challenges for the pain management devices industry?

5.     What is the customer orientation, purchase behavior, and expectations from the pain management devices firms across various regions?

 

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL PAIN MANAGEMENT DEVICES MARKET COVID-19 IMPACT

6 GLOBAL PAIN MANAGEMENT DEVICES MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY PRODUCT TYPE

8 MARKET INSIGHTS BY APPLICATION

9 MARKET INSIGHTS BY END-USERS

10 MARKET INSIGHTS BY REGION

11 PAIN MANAGEMENT DEVICES MARKET DYNAMICS

12 PAIN MANAGEMENT DEVICES MARKET OPPORTUNITIES

13 PAIN MANAGEMENT DEVICES MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY-SIDE ANALYSIS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

19 DISCLAIMER

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