Chicago, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Markets N Research has recently released expansive research on Global Pain Management Software Market with 100+ market data Tables, Pie Chart, and Graphs & Figures spread through Pages and easy to understand detailed analysis. The report endows with wide-ranging statistical analysis of the market’s continuous developments, capacity, production, production value, cost/profit, supply/demand and import/export. This market report provides best solutions for strategy development and implementation depending on client’s needs to extract tangible results. This market research report serves the clients by providing data and information on their business scenario with which they can stay ahead of the competition in today's rapidly changing business environment.
The global pain management software market is expected to exhibit strong growth, reaching USD 3.9 million by 2030. As per the report titled "Pain management software Market Size, Share & COVID-19 Impact Analysis, By Type (PVC, ABS Plastic and Others), By Application (Entertainment, Competition and Others), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 2.1 million and USD 3.9 million in 2030. The market is expected to exhibit a CAGR of 8.40% during the forecast period.
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Pain Management Software Market Analysis:
The capacity to store digital photos in a record that can be viewed and accessed at any time is another feature of pain management software. The market for pain management software is anticipated to have upward trajectory growth over the projected period with the introduction of big data and predictive analysis. Additionally, the market's rapid expansion has attracted a lot of startup investment possibilities and new product launches. During the forecast period, the primary drivers of the pain management software market are the emerging advances in innovative pain management software by numerous healthcare IT/software businesses and the growing need to improve healthcare facilities.
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023 to 2030 CAGR | 8.40 % |
| 2030 Value Projection | 3.7 billion |
| Base Year | 2022 |
| Market Size in 2022 | 2.1 billion |
| Historical Data for | 2016 - 2021 |
| Segments covered | By Type, By Application, By Mode of Purchase, and By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
List Of Key Companies Profiled:
- B. Braun Melsungen AG
- Baxter
- Boston Scientific Corp.
- Enovis
- Medtronic
- ICU Medical, Inc.
- Abbott
- Stryker
- Nevro Corp.
- Omron Healthcare, Inc.
- Stimwave LLC
Yale New Haven Health System and IncludeHealth Collaborated to Enhance Treatment for Patients with MSK Issues
In December 2022, for the benefit of patients with MSK issues, Yale New Haven Health System collaborated with the digital musculoskeletal business IncludeHealth. By employing IncludeHealth's platform to deliver virtual physical therapy in patient's homes, the company will offer a hybrid treatment approach thanks to this agreement. This hybrid model, which is a first for the industry, will be helpful for a range of patient demographics, including those undergoing surgery, those with chronic pain, and those receiving outpatient physical therapy, according to both companies.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the pain management software market plan acquisitions to improve their brand recognition globally. For instance, in September 2018, GeoPain, a pain tracking app from MoxyTech, uses a 3-D body image to show users where and how much pain is being experienced.
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Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 220+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- MNR research methodology
Driving Factors:
- Rising Number of Surgical Procedure to Drive Market Expansion
One of the main factors propelling pain management software market revenue development is the rise in surgical operations. Only in the United States 15 million people have surgery each year. An estimated 310 million major procedures are carried out annually worldwide, with 20 million carried out in Europe and 40 to 50 million in the United States. The predicted outcomes for these patients are 1%–4% mortality, up to 15% postoperative morbidity, and 5%–15% readmission within 30 days. One's recovery from surgery can be sped up by managing postoperative discomfort, reducing the chance of complications, including blood clots and pneumonia. It's crucial to design the optimal pain management plan with the assistance of a healthcare professional. When pain is well-controlled, it is easier to perform important tasks like walking and deep breathing exercises.
- Growing Prevalence of Chronic Diseases to Drive Market Growth
The market is expanding due to a rise in the demand for pain management software brought on by chronic diseases. Patients with chronic illnesses like cancer and heart attacks frequently experience intolerable pain, which increases the need for pain-relieving medications and treatments. Chronic illnesses last for a long time and worsen the patient's health. According to a Brazilian Journal of Nephrology study, almost 60% of patients with chronic renal disease reported experiencing the pain of any degree that necessitated painkillers. The US National Library of Medicine reported that 133 million Americans, or about 45% of the population, had at least one chronic illness. Additionally, it is claimed that chronic diseases like diabetes, cancer, chronic obstructive pulmonary disease, and cancer account for more than two-thirds of all fatalities. The rise in chronic diseases is driving the market for pain management software.
Restraining Factors:
- Availability of Other Options for Pain Management is Limiting Market Growth
The market for pain management software is being held back by the availability of other pain management options. Instead of costly pain management software, alternative therapy options like acupuncture, medical marijuana, dietary supplements, and vitamins are used. Pain from bad backs, osteoarthritis, and headaches may be relieved by using these alternative therapies. For instance, acupuncture effectively treats pain brought on by various ailments, such as fibromyalgia, osteoarthritis, back injuries, and sports injuries. The increased adoption of alternative treatment options constrains the market growth for pain management software.
Challenging Factors:
- Product Recall Could Limit the Market Growth
In order to provide vital fluids, neurostimulators, and ablation, including high-risk drugs, pain management software is used. Patients may suffer severe injury and possibly pass away due to mistakes made using this software. Approximately 1.5 million patients every year experience prescription errors, spending $8,750 per potential adverse drug event, according to the Institute of Medicine (US) (PADE). Software providers are very concerned about the recall of these items owing to safety and efficacy issues because it affects the sales of pain management software. Providers are forced to compensate for serious injuries caused by accidents and replace defective devices with updated models as a result of these recall campaigns. Therefore, product recalls impacting the market growth for pain management software.
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Global Pain Management Software Market Segmentations:
Global Pain Management Software Market By Type:
- Neurostimulation Devices
- Infusion Pumps
- Ablation Devices
Global Pain Management Software Market By Application:
- Neuropathic Pain
- Musculoskeletal Pain
- Cancer Pain
- Facial Pain & Migraine
- Other
Global Pain Management Software Market By Mode of Purchase:
- Prescription
- Over-the-counter
Global Pain Management Software Market Regional Insights:
North America is projected to hold the largest pain management software market share over the forecast period because more entrepreneurs are offering healthcare software solutions and more health reimbursement denials. In September 2018, MoxyTech released a pain monitoring app, GeoPain, that uses a 3-D body image to inform users of the location and degree of pain, signaling a boom in the North American market for pain management software. On the other hand, the Asia Pacific pain management software market is anticipated to grow significantly over the forecast period. Investments in R&D that result in technologically cutting-edge healthcare treatment choices might be credited with this rise.
Further Report Findings
- The market in North Anerica is expected to gain a huge portion of the global pain management software market share in the coming years because of the good healthcare infrastructure, which makes it simple to get cutting-edge pain management technologies.
- Additionally, the expansion of the market is being aided by rising government initiatives and a carefully thought-out reimbursement structure in this region.
- In the Asia Pacific, the growth in this region is primarily driven by a growing number of hospitals and speciality clinics are using technology quickly and enhancing their health infrastructure.
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Key questions answered in this report:
- What is the size of the Pain Management Software market and what is its expected growth rate?
- What are the primary driving factors that push the Pain Management Software market forward?
- What are the Pain Management Software Industry's top companies?
- What are the different categories that the Pain Management Software Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Pain Management Software market sample report and company profiles?
Key Offerings:
- Market Share, Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
- Market Segmentation – A detailed analysis By Type, By Application, By Mode of Purchase, and By Geography
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Table of Content
Chapter 1: Preface
Chapter 2: Report Summary
Chapter 3: COVID 19 Impact Analysis
Chapter 4: Global Pain Management Software Market, By Type Segment Analysis
Chapter 5: Global Pain Management Software Market, By Application Segment Analysis
Chapter 6: Global Pain Management Software Market, By Mode of Purchase Segment Analysis
Chapter 7: Pain Management Software Market – Regional Analysis, 2022 – 2030
Chapter 8: Pain Management Software Market – Industry Analysis
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles
Chapter 11: Research Methodology
Chapter 12: Questionnaire
Chapter 13: Related Reports
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Key Insights from Primary Research/Key Insights & Findings from the report:
- As per the analysis shared by our primary respondents, the Pain Management Software market is expected to grow annually at a CAGR of around 8.40%.
- Through primary research, it was established that the Pain Management Software market was valued at around USD 2.1 billion in 2022.
- The Pain Management Software market is segmented based on components: neurostimulation devices, infusion pumps and ablation devices. The neurostimulation category was predicted to show maximum market share in the year 2022.
- The key factor driving the market is Rising Number of Surgical Procedure.
- The “North America” region will lead the global Pain Management Software market during the forecast period 2022 to 2030.
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