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.Pain management devices are used for managing or controlling the pain caused by arthritis, old injury, cancer treatments among the others. The devices are used for pain according to the severity of the pain, the devices are available in hospitals which can be used during the pain management therapy or these can be bought over the counter.
The pain management devices market is expected to grow significantly due to the key factors such as rise in the number no geriatric population, increase in the number of arthritis cases, increase in the prevalence of the cancer patients. The technology advancement has helped players to develop devices that can be used to manage pain for the patients taking care at home. The technological advancement for pain management devices are likely to open wide range of opportunities for the players to develop variants in the pain management devices which will enable the growth of the market.
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Market segmentation
the pain management devices market is classified as type, and application. The type segment is segmented into neurostimulation devices, analgesic infusion pumps and ablation devices. The application segment includes orthopedic pain, neuropathic pain, muscular pain and others.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global pain management devices market based on type and application. It also provides market size and forecast till 2025 for overall pain management devices market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 13 counties globally along with current trend and opportunities prevailing in the region.
North America accounts the largest market for the pain management devices followed by Europe. The Asia Pacific market is the fastest growing market as increase in the geriatric population, injuries and wound due to accidents, increase in the lifestyle illness and related pain across the world. Thus owing to these key factors the growth of pain management devices market is likely to propel the growth in future.
The report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America.
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The report also includes the profiles of key pain management devices manufacturing companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, products and services offered, financial information of last 3 years, key development in past five years. Some of the key players influencing the market are Smiths Medical, Medtronic, BioElectronics Corporation, The Pressure Positive Company, PAIN MANAGEMENT TECHNOLOGIES, Regenesis Biomedical Inc., HYH, Pfizer Inc., B. Braun Melsungen AG, and Boston Scientific Corporation.
List of Companies
- GENERAL ELECTRIC
- Medtronic
- Johnson & Johnson Services, Inc.
- Siemens Ltd.
- Koninklijke Philips N.V.
- MAQUET Holding B.V. & Co. KG.
- Drägerwerk AG & Co. KGaA
- Integra LifeSciences
- Baxter
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