The global pain management devices market is expected to reach US$ 8,388.67 million in 2027 from US$ 4,527.31 million in 2019. The market is estimated to grow with a CAGR of 8.1% from 2020 to 2027.
Increasing chronic pain incidences, rising product launches and growing geriatric population are the major factors driving the growth of the pain management devices market. However, lack of awareness regarding pain management is likely to restrict the growth of the pain management devices market during the forecast period.
Growing geriatric population across the world is demanding for new pain management therapies. Chronic Pain increases with age, and it continues to rise after 65 years of age. The majority of older people live with chronic pain, resulting in reduced strength to carry out their daily routine. The geriatric population widely suffers from bone and joint disorders, arthritis, cancer, and other chronic disorders associated with pain. Therefore, the demand for pain management devices is higher among the geriatric population.
Increasing geriatric population is a significant factor which is creating a significant demand for pain management devices, which in turn is driving the growth of the market. According to the World Health Organization’s (WHO) data of February 2018, the geriatric population is likely to double. It is estimated that by 2050, the growth of the geriatric population will grow by 22% from 12% in 2015. The data has also determined that nearly 80% of the geriatric population will grow in the low and middle income countries.
The global pain management devices market is segmented by product type, and application. Based on type, the pain management devices market is segmented into neuromodulation devices, ablation devices, and analgesic infusion pumps. The neuromodulation devices segment held the largest share of the market in 2019 and analgesic infusion pumps is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the pain management devices market has been segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others. The neuropathic pain segment held the largest share of the market in 2019. Whereas, musculoskeletal pain segment is estimated to register the highest CAGR in the market during the forecast period.
Canadian Pain Task Force, World Health Organization (WHO), Centers For Disease Control and Prevention, Pain Management Programmes, National Center for Health Statistics, and German Pediatric Pain Centre are some of the essential secondary sources included in the report.
Reasons to Buy:
Increasing chronic pain incidences, rising product launches and growing geriatric population are the major factors driving the growth of the pain management devices market. However, lack of awareness regarding pain management is likely to restrict the growth of the pain management devices market during the forecast period.
Growing geriatric population across the world is demanding for new pain management therapies. Chronic Pain increases with age, and it continues to rise after 65 years of age. The majority of older people live with chronic pain, resulting in reduced strength to carry out their daily routine. The geriatric population widely suffers from bone and joint disorders, arthritis, cancer, and other chronic disorders associated with pain. Therefore, the demand for pain management devices is higher among the geriatric population.
Increasing geriatric population is a significant factor which is creating a significant demand for pain management devices, which in turn is driving the growth of the market. According to the World Health Organization’s (WHO) data of February 2018, the geriatric population is likely to double. It is estimated that by 2050, the growth of the geriatric population will grow by 22% from 12% in 2015. The data has also determined that nearly 80% of the geriatric population will grow in the low and middle income countries.
The global pain management devices market is segmented by product type, and application. Based on type, the pain management devices market is segmented into neuromodulation devices, ablation devices, and analgesic infusion pumps. The neuromodulation devices segment held the largest share of the market in 2019 and analgesic infusion pumps is anticipated to register the highest CAGR in the market during the forecast period. Based on application, the pain management devices market has been segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others. The neuropathic pain segment held the largest share of the market in 2019. Whereas, musculoskeletal pain segment is estimated to register the highest CAGR in the market during the forecast period.
Canadian Pain Task Force, World Health Organization (WHO), Centers For Disease Control and Prevention, Pain Management Programmes, National Center for Health Statistics, and German Pediatric Pain Centre are some of the essential secondary sources included in the report.
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the pain management devices market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global pain management devices market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Table of Contents
1. Introduction
3. Research Methodology
4. Global Pain Management Devices Market- Market Landscape
5. Pain Management Devices Market - Key Market Dynamics
6. Pain Management Devices Market- Global Analysis
7. Pain Management Devices Market Analysis - By Product Type
8. Pain Management Devices Market Analysis - By Application
9. Pain Management Devices Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Global Pain Management Devices Market
11. Pain Management Devices Market - Industry Landscape
12. Pain Management Devices Market Company Profiles
13. Appendix
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Medtronic plc
- Abbott
- Boston Scientific Corporation
- Hospira Inc.
- Halyard Health Inc
- Smiths Medical
- B. Braun Melsungen AG
- Neurotech NA Inc.
- BD
- Nevro Corp