Selbyville, Delaware, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Pain Management Devices Market size is expected to be worth USD 9.5 billion by 2032. The rising prevalence of chronic pain conditions, such as arthritis, lower back pain, and neuropathy, has led to the increased demand for effective pain management solutions.
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The growing aging population and the surge in age-related pain issues has spurred the higher need for innovative pain relief options. Pain management devices provide holistic approach to pain relief for enhancing patient satisfaction and compliance with therapy. The higher preference for drug-free and minimally invasive treatment options has also influenced consumers and healthcare professionals to opt for pain management devices.
Ablation devices to record significant usage
The ablation devices product segment will hold remarkable share of the pain management devices market through 2032. This expansion can be attributed to the increasing use of robotic-assisted ablation devices to offer greater precision, accuracy, and flexibility in various applications. The rising development of new ablation technologies, including microwave ablation, laser ablation, and ultrasound ablation has made way for efficient treatment of multiple ailments. The growing demand for minimally invasive ablation procedures by patients.
Higher adoption in facial and migraine pain applications
Pain management devices market size from the facial and migraine pain application will witness considerable traction from 2022-2032 due to the growing awareness of the limitations of pharmacological interventions and the higher preference for drug-free pain relief solutions. The development of new drug-delivery devices for the treatment of facial and migraine pain has helped in delivering medication directly to the affected areas. The increasing usage of electrical stimulation devices, such as transcutaneous electrical nerve stimulation (TENS) and trigeminal nerve stimulation (TNS).
Physiotherapy centers to witness higher adoption
Physiotherapy centers will attract significant share of the pain management devices market through 2032 driven by the rising emphasis on holistic approaches to pain relief. The demand for multimodal pain management approaches combining different pain management techniques has grown increasingly popular to improve pain relief and reduce the need for medication. The development of new pain management devices, including wearable devices to monitor pain and provide feedback to patients.
Europe to emerge as a lucrative market destination
Europe pain management devices market will experience massive development between 2023 to 2032. The increasing prevalence of chronic pain conditions and the growing aging population in the region is driving the need for effective pain management solutions. The well-established healthcare infrastructure has led to improved access to advanced medical technologies. Additionally, the higher emphasis on non-invasive and drug-free pain relief options along with growing preferences of patients and healthcare professionals.
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Pain Management Devices Market Participants
Some of the leading players in the global industry include Boston Scientific Corporation, Medtronic plc, B. Braun Melsungen AG, Stryker Corporation, Abbott Laboratories, Stim Wave Technologies, and Nevro Corporation.
These firms are engaged in the development and innovation of new medical devices for scaled revenues and reinforced global presence. For instance, in May 2023, the U.S. FDA approved Abbott's spinal cord stimulation (SCS) devices used in non-surgical treatment of persistent back pain in patients not eligible for back surgery.
Partial Table of Contents (ToC) of the report:
Chapter 3 Pain Management Devices Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Increasing prevalence of neurological disorders
3.2.1.2 Technological advancements in neurostimulation devices
3.2.1.3 Rising demand for chronic pain management devices in homecare settings
3.2.1.4 Rise in geriatric population and surgical procedures
3.2.2 Industry pitfalls & challenges
3.2.2.1 High product and procedural cost of pain management devices
3.2.2.2 Preferable use of medications for pain management
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By application
3.3.3 By end-use
3.4 COVID-19 impact analysis
3.5 Regulatory landscape
3.6 Reimbursement scenario
3.7 Technology landscape
3.8 Future market trends
3.9 Start-up scenario
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company matrix analysis, 2022
4.3 Competitive positioning matrix
4.4 Vendor matrix analysis
4.5 Company market share analysis, 2022
4.6 Strategy dashboard, 2022
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