Pain Management Devices Market is Growing at a CAGR of 7.89% and will reach USD 6.14 Billion by 2026, Asserts DelveInsight
The key companies are investing more towards R&D to develop innovative products since there is a shift from pharmaceutical treatment to medical devices in patients expected to drive the Pain Management Devices market and the patients in their treatment.
LAS VEGAS, Oct. 7, 2021 /PRNewswire/ -- DelveInsight published a new report on "Pain Management Devices Market & Competitive Landscape," proffering in-depth market understanding for the Pain Management Devices market, further benefiting the competitors or stakeholders operating in the Pain Management Devices market arena.
Curious to unearth how the Pain Management Devices Market will be growing by 2026? Click to get a snapshot of Pain Management Devices Market Analysis
Pain Management Devices Overview
Pain is caused because of the unpleasant sensory stimulation due to tissue damage by any means, mainly because of injuries and diseases such as arthritis, ulcers, and cancer, among others. These are primarily divided into two groups, nociceptive pain and neuropathic pain. Usually, the pain is managed through interventional procedures, medication management, physical therapy or chiropractic therapy, psychological counseling and support, acupuncture and other alternative therapies, and referral to other medical specialists. Many drugs (analgesic and painkiller) and devices (Neuromodulation & Neurostimulation Devices, Analgesic Infusion Pumps, and Ablation Devices) are available to help relieve the pain. Pain management devices are expected to continue to outgrow general pain relievers and topical analgesics driven by the popularity of devices. Many companies like Abbott and Boston Scientific are entering the Pain Management Devices market with new products. On January 14, 2021, Abbott announced the upcoming launch of NeuroSphere™ myPath™, a digital health app designed to track and report patient-perceived pain relief and general well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy.
Pain Management Devices Market Insight
Geographically, the global Pain Management Devices market is analysed for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share, North America currently leads the global Pain Management Devices market and is expected to remain constant during the forecast period. This domination is mainly because of the increasing awareness about the abuse due to opioid analgesics and shifts towards drugs or devices that help relieve pain without being addictive. One such product is Nevro Corp. which got FDA approval of its Senza® System to treat chronic pain associated with Painful Diabetic Neuropathy (PDN) in July 2021. Thus, all these factors are expected to drive the demand for advanced technologies in Pain Management Devices. There are great opportunities for Pain Management Devices market penetration for the countries like Mexico, India, and China to the major companies already having a grip in developed regions as awareness about the products increases.
Request Pain Management Devices Market Report to learn more about trends in specific geographies @ Pain Management Devices Market Trends
Pain Management Devices Covid-19 Impact Analysis
It was seen that management of chronic pain during the COVID-19 pandemic became a challenging process, especially with growing evidence that COVID-19 infection is associated with myalgias, referred pain, and widespread hyperalgesia. The elective surgeries and follow-up procedures were put on hold because of the lockdowns imposed by the government to curb the infection from spreading. In the case of neuromodulation therapies used in pain management, such as SCS, deep brain stimulation (DBS), vagal nerve stimulation, and sacral nerve neuromodulation, implantation of the device is only the first step and post-operative programming is essential for achieving the long-term curative effect. Thus, the demand for Pain Management Devices was halted by the outbreak of the COVID-19 pandemic. With the outbreak of COVID-19, almost all the countries were affected.
Currently, numerous countries have started to improve their healthcare systems, which is the same across the developing and the developing/emerging countries. Hence, with the government initiatives and companies launching new products, the Pain Management Devices market is expected to increase over the forecasted years.
Radiofrequency ablation is anticipated to show the fastest growth over the forecast period due to its wide application in pain management, surgical oncology, gynecology, cardiology, and cardiac rhythm management, and cosmetology. In November 2020, Abbott launched the IonicRF™ Generator, a new device cleared by the US Food and Drug Administration to deliver a non-surgical, minimally invasive treatment for Pain Management in the nervous system. The IonicRF Generator is a radiofrequency ablation device that uses heat to target specific nerves and block pain signals from reaching the brain. This is expected to drive the market for Pain Management Devices.
Pain Management Devices Market Report Scope
- Study Period: 2018-2026
- Key Companies: Smiths Medical, B. Braun Melsungen AG, Baxter, Boston Scientific Corp., Colfax Corp., Medtronic Plc, Nevro Corp., Abbott, Stryker, Omron Healthcare, Inc., Stimwave LLC, and others.
- Geography Covered: North America, Europe, Asia-Pacific, Rest of the World (Middle East, Africa, and South America)
- Segmentation: By Type of Devices, By Application, and By Geography
- By Type of Devices
- Neuromodulation & Neurostimulation Devices
- Analgesic Infusion Pumps
- Intrathecal Infusion Pumps
- External Infusion Pumps
- Ablation Devices
- Radiofrequency Ablation Devices
- Cryoablation Devices
- Others
- By Application
- Neuropathic Pain
- Cancer Pain
- Facial & Migraine Pain
- Musculoskeletal Pain
- Others
- By Geography
- North America
- Europe
- Asia-Pacific
- Rest of World
Table of Contents
1 | Pain Management Devices Report Introduction |
2 | Pain Management Devices Market Executive Summary 2.1 Scope of the Study 2.2 Market at Glance 2.3 Competitive Assessment 2.4 Financial Benchmarking |
3 | Regulatory and Patent Analysis
|
4 | Pain Management Devices Market Key Factors Analysis 1. Pain Management Devices Market Drivers 1. Rise in prevalence of chronic pain 2. Surge in awareness among people toward pain management devices 3. Improved R&D investment to develop innovative products 4. Launch of innovative products 5. Increasing cost of healthcare 2. Pain Management Devices Market Restraints and Challenges 1. Hypersensitivity reactions and post-operative infections caused due to use of these devices limit their adoption 2. High Cost of product 3. Pain Management Devices Market Opportunities 1. Untapped potential offered by developing economies 2. Growing demand for Pain Management Devices in non-hospital settings |
5 | Pain Management Devices Porter's Five Forces Analysis 5.1 Bargaining Power of Suppliers 5.2 Bargaining Power of Consumers 5.3 Threat of New Entrants 5.4 Threat of Substitutes 5.5 Competitive Rivalry |
6 | COVID-19 Impact Analysis on Pain Management Devices Market |
7 | Pain Management Devices Market layout 7.1 By Type of Devices 7.1.1 Neuromodulation & Neurostimulation Devices 7.1.2 Analgesic Infusion Pumps 7.1.2.1 Intrathecal Infusion Pumps 7.1.2.2 External Infusion Pumps 7.1.3 Ablation Devices 7.1.3.1 Radiofrequency Ablation Devices 7.1.3.2 Cryoablation Devices 7.1.4 Others 7.2 By Application 7.2.1 Neuropathic Pain 7.2.2 Cancer Pain 7.2.3 Facial & Migraine Pain 7.2.4 Musculoskeletal Pain 7.2.5 Others 7.3 By Geography 7.3.1 North America 7.3.2 Europe 7.3.3 Asia-Pacific 7.3.4 Rest of the World (RoW) |
8 | Pain Management Devices Global Company Share Analysis – Key 3-5 Companies |
9 | Pain Management Devices Company and Product Profiles 9.1 Abbott Laboratories 9.2 Baxter International Inc. 9.3 Boston Scientific Corporation 9.4 B Braun Melsungen AG 9.5 Nevro Corp. 9.6 Colfax Corporation 9.7 Omron Corporation 9.8 Koninklijke Philips NV 9.9 Smiths Medical 9.10 Medtronic plc. 9.11 Stryker Corporation 9.12 Stimwave LLC 9.13 Kimberly Clark Corporation 9.14 DJO Global LLC. 9.15 Aleva neurotherapeutics SA |
10 | Project Approach |
11 | KOL Views |
12 | DelveInsight Capabilities |
13 | Disclaimer |
14 | About DelveInsight |
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