Vancouver, Aug. 21, 2023 (GLOBE NEWSWIRE) -- The projected size of the global market for pain management devices is anticipated to reach approximately USD 4.65 Billion by the year 2030. This growth is expected to follow a consistent revenue Compound Annual Growth Rate (CAGR) of 8.6%, based on the latest analysis conducted by Emergen Research. One of the primary drivers behind this expansion is the increasing prevalence of neurological disorders. A recent report from the United Nations highlights that nearly one in six individuals globally, totaling up to 1 billion people, are affected by neurological disorders. These disorders encompass a range of conditions, including migraine, brain injuries, neuroinfections, Alzheimer's Disease (AD), Parkinson's Disease (PD), stroke, multiple sclerosis, and epilepsy.
Tragically, these disorders contribute to an annual death toll of 6.8 million individuals. A significant portion of individuals grappling with fundamental neurological conditions, ranging from 20% to 40%, also contend with chronic pain, which frequently accompanies these neurological disorders. The origins of these conditions are diverse, encompassing factors such as neurodegeneration, neuroinflammation, and injuries to the central nervous system. Consequently, the utilization of pain management devices is on the rise as a means to effectively address and alleviate the pain associated with these conditions.
Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.emergenresearch.com/request-sample/1542
Furthermore, there are notable challenges impacting the growth of market revenue, including product recalls and the high costs associated with procedures. Pain treatment devices play a pivotal role in delivering essential fluids, utilizing neurostimulators, and performing ablation procedures, which involve the use of potent medications. Mishandling or incorrect usage of these devices can lead to severe patient injuries or even fatalities.
In addition, the market for pain management devices can face setbacks when these products are subject to recalls due to concerns related to their safety and effectiveness. Such recalls pose a significant challenge for manufacturers of these devices, impacting their sales and overall market presence.
Emergen Research is Offering Limited Time Discount (Grab a Copy at Discounted Price Now) @ https://www.emergenresearch.com/request-discount/1542
Scope of Research
| Report Details | Outcome |
| Market Size in 2021 | USD 2.19 Billion |
| CAGR (2022–2030) | 8.6% |
| Revenue Forecast to 2030 | USD 4.65 Billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2021–2030 |
| Forecast Period | 2022–2030 |
| Quantitative Units | Revenue in USD Million and CAGR in % from 2022 to 2030 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Type, application, mode of purchase, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Country Scope | U.S., Canada, Mexico, Germany, UK, France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, and Rest of Middle East & Africa |
| Key Companies Profiled | Medtronic, Stryker, BD, B. Braun SE, Boston Scientific Corporation, Abbott, Baxter, Avanos Medical, Inc., Teleflex, Incorporated, and Smiths Medical |
| Customization Scope | 10 hours of free customization and expert consultation. |
Major Companies and Competitive Landscape
The global pain management devices market is fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective pain management devices products. Some major players included in the global pain management devices market report are:
- Medtronic
- Stryker
- BD
- B. Braun SE
- Boston Scientific Corporation
- Abbott
- Baxter
- Avanos Medical, Inc.
- Teleflex, Incorporated
- Smiths Medical
Strategic Development
On 14 December 2022, Yale New Haven Health System partnered with IncludeHealth, a digital musculoskeletal company to improve care for patients with MSK problems. Through this alliance, the company will enable a hybrid care approach by utilizing IncludeHealth's platform to conduct virtual physical therapy in patients' homes. According to both companies, this hybrid model is a first for the industry and will be useful for a variety of patient demographics, including those undergoing surgery, chronic pain, and outpatient physical therapy. The goal is to maintain patient's ability to make decisions about their care along with trusted healthcare team.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/1542
Some Key Highlights From the Report
- On 14 October 2022, HSS announced that Lumoptik, a medical device startup based in Illinois, inked a multiyear collaboration deal to test and develop technology for enhancing epidurals and other pain management treatments. In addition to evaluating the use of company's epidural needle-guidance system as a training aid, HSS and Lumoptik will collaborate on development of further uses for technology and three to four clinical trials.
- The neurostimulation devices segment is expected to account for largest revenue share in the global market over the forecast period. Neurostimulation distributes pain-relieving impulses by interfering with the pain signals that are travelling between spinal cord and brain, two significant biological organs. Components of neurostimulation include a neurostimulator (which generates electrical impulses), leads (insulated medical wires that carry electrical pulses), and a programmer (used to configure neurostimulation system and its settings). Neurostimulation is possible with external radio-frequency-driven systems as well as fully implanted systems. One of the key advantage of these devices is capacity for user or patient to alter the level and location of stimulation using a handheld programmer. These neurostimulation devices have a lot of benefits due to their ability to precisely target the area where patient or user is experiencing discomfort.
- The neuropathic pain segment is expected to account for largest revenue share in the global market over the forecast period. Neuropathic pain is characterized by hyperalgesia, an increased sensitivity to stimuli, and nociceptive responses to non-noxious stimuli. Pathophysiological conditions that result in development of neuropathic pain might include autoimmune disorders that affect central nervous system and virally-induced neuropathy. According to estimates, neuropathic pain affects anywhere from 3% to 17% of the general population. Patients need additional therapeutic modalities because majority of neuropathic pain treatments are ineffective or have side effects that limit their use.
- The Over-The-Counter (OTC) pain management devices segment accounted for largest revenue share in 2021. A number of significant market participants have created over-the-counter painkillers. For instance, NeuroMetrix, Inc. received 510(k) permission from the U.S. Food and Drug Administration (FDA) (K140333) to utilize its wearable device to treat chronic pain. This system uses wearable technology to stimulate sensory nerves in a comfortable and non-invasive way to safely and effectively reduce pain. In addition, this system is now employed in the company's SENSUS pain management system. This system is lightweight, hence can be worn both while sleeping and engaging in daytime activities. The company is now able to promote OTC device through retail distribution channels without a prescription due to this 510(k) authorization.
- The North America market is expected to account for largest revenue share during the forecast period attributed to increasing R&D activities in countries in this region. An implant can be used to instantaneously and drug-freely relieve pain and can provide a much-needed alternative to opioids and other medications with a high risk of addiction. The biocompatible and water-soluble device softly wraps around nerves and delivers precise, targeted cooling to numb neurons and stop pain signals from reaching the brain. User can remotely activate the gadget and change its intensity using an external pump. While, this device easily dissolves into body without the need for surgical extraction, when it is no longer needed.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/pain-management-devices-market
For the purpose of this report, Emergen Research has segmented the global pain management devices market based on type, application, mode of purchase, and region:
- Type Outlook (Revenue, USD Million; 2019–2030)
-
- Neurostimulation Devices
- Transcutaneous Electrical Nerve Stimulation (TENS) Devices
- Spinal Cord Stimulation
- Infusion Pumps
- High Use of Infusion Pumps in Postoperative Pain Management
- Interathecal Infusion Pumps
- External Infusion Pumps
- Ablation Devices
- RF Ablation Devices
- Cryoablation Devices
- Neurostimulation Devices
- Application Outlook (Revenue, USD Million; 2019–2030)
-
- Neuropathic Pain
- Cancer Pain
- Facial Pain & Migraine
- Musculoskeletal Pain
- Other Applications
- Mode of Purchase Outlook (Revenue, USD Million; 2019–2030)
-
- Over-the-Counter Pain Management Devices
-
- Prescription-Based Pain Management Devices
- Regional Outlook (Revenue, USD Million, 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest of Middle East & Africa
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Transcatheter Mitral Valve Implantation Market Analysis, By Product (Mechanical Valves & Bioprosthetic Tissue (Biological) Valves), By Application (Mitral Valve Stenosis, Mitral Valve Prolapse, Mitral Valve Regurgitation), By End Use (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers), Forecasts to 2027
mHealth Market, By Platform (Mobile Apps and Wearable Devices), By Application (Remote Monitoring and Disease and Epidemic Outbreak Tracking), By End-Use (Healthcare Providers and Hospitals and Clinics), and By Region Forecast to 2030
Advanced Wound Care Market By Product Type (Moist Wound Dressing, Wound Therapy Devices), By Wound Type (Surgical Wounds, Ulcers, Burns, Traumatic Wounds), By End-User (Hospitals and Clinics, Home Care Settings), and By Region, Forecasts to 2027
Alternative Proteins Market, By Source (Plant-based, Insect-based, Microbial-based) By Application (Meat Substitutes, Dairy Alternatives, Bakery, Nutrient Supplement), By Form (Dry Form, Wet Form), and By Region Forecast to 2030
Biologics Market, By Source (Microbial and Mammalian), By Product Type (Monoclonal Antibodies, Vaccines, Cellular-Based Biologics, and Gene-Based Biologics), By Application, and By Region Forecast to 2030
Blockchain in Healthcare Market By Type (Permissioned/Private Blockchain, Permissionless/Public Blockchain), By Application, By End-Users (Pharmaceutical Companies, Healthcare Providers, Healthcare Payers), Forecasts to 2027
Clinical Decision Support System Market, By Type (Standalone CDSS, Integrated EHR with CDSS), By Application (Drug Allergy Alerts, Clinical Guidelines, Drug-Drug Interactions, Clinical Reminders), By Delivery Mode, and By Region Forecast to 2030
Enzymes Market Size, Share, Trends, By Source (Animals, Microorganisms, Plants), By Product (Proteases, Carbohydrase, Polymerases & Nucleases, Lipases), By Application (Specialty Enzymes, Industrial Enzymes), Forecasts to 2027
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Pain Management Devices Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-pain-management-devices-market
