Pain Management Devices Market to Grow at a CAGR of 6.4% by 2028 | Exclusive Research by TMR

Wilmington, Delaware, United States, April 06, 2023 (GLOBE NEWSWIRE) -- The pain management devices market was valued at USD 4.1 Bn in 2020 and is projected to reach USD 7.1 Bn by 2028 with CAGR of 6.4% from 2021 to 2028.

Rise in demand for pain management devices to treat chronic pain is expected to propel the market. Advancements in devices used for transcutaneous electrical nerve stimulation and neuromuscular electrical stimulation are poised to offer significant growth opportunities to companies in the pain management devices industry.

Request a Report Sample to Gain Comprehensive Insights: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1143

Pain Management Devices Market Scope:

Surge in incidence of traumatic injuries in sports and rapid increase in incidence of musculoskeletal pain are anticipated to bolster market development in the next few years. Rise in adoption of transcutaneous electrical nerve stimulation (TENS) to treat a wide range of acute and chronic pain conditions is likely to offer significant revenues to medtech companies in the global pain management devices industry. Advancements in TENS have helped patients get relief from neuropathic pain.         

The healthcare industry is focused on expanding pain management clinics and is encouraging expertise in pain medicine. Developed nations, such as the U.S., support stricter qualifications for pain clinic operators. These factors are expected to positively influence the pain management devices market, since such strategies would help improve outcomes for pain care in the country in the near future.

Competition Landscape

The market landscape is highly competitive and characterized by a high degree of rivalry among leading players. Expansion of product portfolio and growth in product innovations are some of the key competitive strategies adopted in the pain management devices market.

Key players operating in the market are Baxter International, MicroTransponder, B. Braun Melsungen AG, Boston Scientific Corporation, Medtronic plc, and Stryker Corporation.

Please Share Your Problem/Objectives in Greater Details so That Our Analyst Can Help

Key Findings of Study

• Rise in Adoption of Neurostimulation Devices to Manage Pain: Neurostimulation devices are anticipated to gain wide adoption among patients suffering from long-term chronic pain. Utilization of TENS therapy to treat/manage knee joint arthritis and other types of musculoskeletal pain is anticipated to enhance the market value during the forecast period. Introduction of wearable devices to assess and improve the treatment of pain in real-time has broadened the market outlook considerably in the past few years.
• Surge in Demand for Treatment of Chronic Pain to Bolster Market Growth: Rise in incidence of acute and chronic pain after surgical interventions is expected to fuel the demand for pain management devices. Increase in trend of usage of non-invasive therapies to manage chronic pain is anticipated to boost market growth. Growth in awareness about health burden of chronic pain in the patient population is likely to broaden the pain management devices market outlook.

Key Drivers

• Rapid increase in incidence of pain due to arthritis, traumatic injuries, cancer, and neurological diseases is a key driver of the pain management devices market. Rise in prevalence of neuropathic pain is likely to spur the utilization of various neurostimulation devices such as transcutaneous electrical nerve stimulation and neuromuscular electrical stimulation therapies.
• Increase in awareness of high burden of musculoskeletal pain among the global population is expected to augment the pain management devices market size. Rise in usage of pain management devices among patients to treat postoperative pain is likely to propel the market. Infusion pumps, in particular, are extensively adopted among patients to control postoperative pain after cardiothoracic surgeries and bariatric surgeries.

Regional Growth Dynamics

North America accounted for the leading share of the global pain management devices market in 2020. Rapid adoption of technologically-advanced devices in the region to treat various types of chronic pain is anticipated to augment the market size. Rise in cost of chronic pain management and high burden of sports-related injuries are expected to accelerate the market growth in the next few years. The region has witnessed extensive R&D activities to develop novel therapies for chronic pain.

Latin America and Asia Pacific are lucrative markets for pain management devices. Surge in awareness about effectiveness and safety of pain management devices in Latin America is likely to fuel the market. The market in Asia Pacific is anticipated to witness significant revenues from 2023 to 2028. Rise in adoption of pain management devices among patients suffering from chronic pain, such as back pain and chronic wounds, is expected to propel the market in the region. High burden of musculoskeletal pain in China and India is likely to offer new revenue streams for companies in the region in the near future.

Buy this Premium Research Report | Immediate Delivery Available at https://www.transparencymarketresearch.com/checkout.php?rep_id=1143&ltype=S

Pain Management Devices Market Segmentation

Product Type

• Electrical Stimulation Devices
  • Transcutaneous Electrical Nerve Stimulation (TENS) Devices
  • Neuromuscular Electrical Stimulation (NMES/EMS) Devices
  • Other Devices (Electrotherapy Devices, Combination Devices, TNS, TMS, etc.)
• Radiofrequency Ablation Devices
• Analgesic Infusion Pumps
  • Intrathecal Infusion Pumps
  • External Infusion Pumps
• Neurostimulation Devices
  • Spinal Cord Stimulation Devices
  • Deep Brain Stimulation Devices
  • Vagus Nerve Stimulation Devices
  • Sacral Nerve Stimulation Devices
    

Application

• Electrical Stimulation Devices
  • Neuropathic Pain
  • Cancer Pain
  • Facial & Migraine Pain
  • Musculoskeletal Pain
  • Trauma
• Neurostimulation
  • Neuropathic Pain
  • Cancer Pain
  • Facial & Migraine Pain
  • Musculoskeletal Pain
• Analgesic Infusion Pumps
  • Neuropathic Pain
  • Cancer Pain
  • Trauma
  • Musculoskeletal Pain
• Radiofrequency Ablation Devices

• Neuropathic Pain
• Cancer Pain
• Musculoskeletal Pain

Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
  

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com