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Pain Management Devices Market to Grow at CAGR of 6.4% During Forecast Period, TMR Study Finds

  • The global market is anticipated to increase due to the increasing incidence of chronic medical disorders, the introduction of highly technological treatment solutions, and advantageous reimbursement policies.
  • The global market for pain management devices is anticipated to grow at a considerable rate due to the increasing geriatric population

ALBANY, New York, April 7, 2022 /PRNewswire/ — Global pain management device market valuation stood at $4.1 billion in 2020. The market is anticipated to develop at a CAGR of 6.4% during the forecast period, from 2021 to 2028. The global market for pain management devices is anticipated to reach a valuation of $7.1 billion by 2028. The increasing frequency of neurological diseases, trauma, cancer and arthritis are responsible for the development of the global market for pain management devices. Following the introduction of better healthcare facilities and the increase in the number of hospitals around the world, this market is likely to flourish in the coming years. Additionally, the market for pain control devices is expanding due to the increasing frequency of sports-related injuries and lifestyle-related disorders.

Furthermore, the global market for pain control devices is being driven by the undesirable effects of analgesics, the huge patient population base, and the high demonstrated efficacy of pain control devices. However, issues such as a shortage of pain clinics in various countries, a shortage of pain experts, a lack of understanding about the availability and use of pain management equipment, and the cost factor of these devices are likely hamper market growth.

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Due to improvements in innovative pain management devices, North America is likely to be a prominent region in the global pain management device market. This growth can be attributed to the increasing prevalence of chronic diseases and the occurrence of sports-related injuries, which are fueling the demand for pain management devices in the region. In addition, the growth of the regional market is attributed to a combination of growing creative ideas and proximity to social security offices. The market is also likely to grow due to increased spending on R&D activities related to pain management devices in the region.

Key Findings of the Market Report

  • The category of radiofrequency (RF) ablation devices is anticipated to grow at a rapid rate during the forecast period. The expansion of this segment is likely to be driven by the rising incidence of cardiovascular problems such as atrial fibrillation, as well as an increasing number of patients battling cancer and pain and requiring minimally invasive surgeries. The rise in the use of ultrasonic ablation technology in radiofrequency (RF) ablation devices is expected to drive the global market.
  • In recent years, the number of surgical procedures performed around the world has increased dramatically. This is due to the growth in the elderly population, as well as the rise in obesity and other lifestyle disorders. Obesity is a major contributor to orthopedic and cardiovascular problems.
  • Due to increased disposal revenue, as well as better understanding of the safety and efficacy of pain management devices, Latin America it is likely to present considerable growth prospects for market participants. the Pacific Asia The market for pain management devices is likely to expand due to the rising incidence of diabetes and chronic wounds, as well as an increase in the prevalence of neck and back pain. Due to its rapidly developing health infrastructure, Pacific Asia countries like India Y Porcelain they are expected to dominate the regional market.

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Global Pain Management Devices Market: Growth Drivers

  • The increasing incidence of neuropathic pain worldwide is expected to present opportunities for manufacturers of pain management devices. In addition, the increasing prevalence of chronic debilitating diseases and an aging population are likely to increase the demand for pain management devices.
  • The global market for pain management devices is expected to be dominated by a large number of players. The global market is marked by fierce competition among its participants. Market participants are vying for larger shares of the global market. As a result, they are focusing on introducing various types and executive devices with developments to remain competitive in the market.

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Global Pain Management Devices Market: Key Competitors

  • B. Braun Melsungen AG
  • Biomedical Research (BMR) Ltd.
  • Baxter International, Inc.
  • Avanos Medical, Inc.
  • DJO Global, Inc.
  • medtronic plc

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Global Pain Management Devices Market: Segmentation

kind of product

  • electrical stimulation devices
  • Radiofrequency ablation devices
  • Analgesic infusion pumps
  • neurostimulation devices

Request

  • electrical stimulation devices
  • neurostimulation devices
  • analgesic infusion pump
  • Radiofrequency ablation devices

The modernization of healthcare in terms of infrastructure and services has taken the healthcare industry to new heights. Stay up to date with Latest Healthcare Industry Research Reports by Transparency Market Research:

Pain Management Therapeutics Market: High incidence of chronic pain disorders, easy and effective medications, and increased demand for pain management products are projected to drive the global market for Pain Management Therapeutics during the forecast period.

Postoperative pain management market: Postoperative pain management refers to a set of medications and therapies that are used to minimize tissue and muscle spasm in the patient. This is particularly useful for patients who have undergone surgery. The increase in the number of surgeries around the world is a major factor behind the rapid growth of the global postoperative pain management market.

Veterinary Pain Management Market: Rapid advances in the global veterinary pain management market have been fueled by the growing awareness of pain management in companion animals, especially cats and dogs. In various regions of the world, veterinary professionals and pet owners have become increasingly concerned with the prevention, management, and treatment of pain in livestock and companion animals.

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