Westford, USA, Aug. 29, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Pain Management Devices Market will attain the value of USD 73.7 billion by 2031, with a CAGR of 21.5% during the forecast period (2024-2031). The rise in chronic diseases is one of the major factors expected to drive the market expansion during the forecast period. Musculoskeletal stimulants are in high demand due to increasing incidence of lifestyle diseases such as diabetes and obesity. Another important factor that can drive the market expansion is the increasing incidence of stroke or hypertension. Cerebral atherosclerosis and other chronic diseases also contribute to a significant increase in blood pressure. The spread of the dangerous coronavirus has economic implications for almost every industry, including medical device manufacturers. The nationwide shutdown has affected patients who rely heavily on physiotherapy or exercise programs to manage pain. In addition, many elective surgeries and patient in-person visits were postponed or cancelled, which is expected to increase demand for home pain management. The number of cancer patients is expected to increase during the launch period, which will increase demand.
Download a detailed overview:
https://www.skyquestt.com/sample-request/pain-management-devices-market
Browse in-depth TOC on " Pain Management Devices Market "
- Pages – 219
- Tables - 67
- Figures – 75
Pain Management Devices Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 15.50 billion |
| Estimated Value by 2031 | USD 73.7 billion |
| Growth Rate | Poised to grow at a CAGR of 21.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application and Mode of Purchase |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Increasing Demand for Non-Invasive Pain Management |
| Key Market Drivers | Increasing Prevalence of Chronic Pain |
Neurostimulation Segment to Dominate Due to Increased Neurological Sicknesses
Neurostimulation category is the dominant segment in the market. The increase can be attributed to the overall boom in neurological sicknesses. These neurostimulators are crucial for the treatment of epilepsy, Parkinson's disease, depression, Parkinson's disease-related movement abnormalities, and continual ache. In addition, factors inclusive of the introduction of technologically superior merchandise, rising product call for, and getting older population are anticipated to propel the market.
Cancer Segment to Drive Market Due to Expanded Frequency of Genetic Illnesses
The cancer section is anticipated to have the fastest CAGR at some point of the projection duration. The demand for goods made to relieve the pain introduced on via nerve compression, that is by and large added on by using tumor compression and other variables depending on the route of the cancer, has accelerated because of an increase in the variety of cancer instances. Also, it's predicted that the market could keep growing over the route of the forecast duration due to the expanded frequency of genetic illnesses such Acute Lymphoblastic Leukemia (ALL).
North America is Dominating Due to Increasing Government Programs
North America accounted for the largest revenue share of 46.00% as the region has good healthcare infrastructure, which facilitates access to cutting-edge pain management tools. Government programs such as Affordable Care Act, Precision Medicine, and well-planned reimbursement policies in this region. The regional market is driven by an aging population, well-established healthcare facilities, and hypertension and stroke a high prevalence. The market will expand rapidly as older people are more likely to develop chronic diseases.
The Asia-Pacific region in the market is expected to grow at the fastest pace during the forecast period. This increase can be attributed to the investments in R&D that led to the development of technologies that led to cutting-edge health care and treatments. The potential for market expansion in this segment has also improved due to the availability of multiple trade agreements. For example, the Asia Pacific Trade Agreement (APTA) China-Bangladesh ratified by India, Lao People's Democratic Republic, Republic of Korea, Mongolia and Sri Lanka promoted trade liberalization and expanded the scope of signatories.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/pain-management-devices-market
Drivers
- Increasing Prevalence of Chronic Pain
- Increasing Demand for Non-Invasive Pain Management
Restraints
- High Cost of Pain Management Devices
Prominent Players in Pain Management Devices Market
The following are the Top Pain Management Devices Companies
- Nevro Corporation
- Baxter International
- St. Jude Medical
- B. Braun Melsungen AG
- Smiths Medical
- Hospira
- Endo International
- Djo Global
- Halyard Health
- Stryker Corporation
- NeuroMetrix
- Avanos Medical
- NIPRO Corporation
- Terumo Corporation
- Stimwave Technologies
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/pain-management-devices-market
Key Questions Answered in Pain Management Devices Market Report
- How big is the Global Pain Management Devices Market?
- What are the opportunities of Global Pain Management Devices Market size?
- What are the key drivers in the Global Pain Management Devices Market?
- Which is the fastest growing region in the Global Pain Management Devices Market?
This report provides the following insights:
- Analysis of key drivers (growing focus on minimally invasive procedures), restraints (high cost of pain management devices), opportunities (increasing demand for non-invasive pain management), influencing the growth of Pain Management Devices Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Pain Management Devices Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Pain Management Devices Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
Related Reports:
Advanced Wound Care Market
Veterinary Pain Management Market
Home Healthcare Market
Neurostimulation Devices Market
Neurovascular Devices Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
