Meticulous Research®, a leading global market research firm, has published a report titled "Pain Management Devices Market Size, Share, Forecast, & Trends Analysis by Product (Neurostimulation [DBS, TENS, VNS], Infusion Pump, Compression), Pain Type (Surgical, Musculoskeletal, Neuropathic, Cancer), Distribution, End User - Global Forecast to 2031."
According to their latest findings, the pain management devices market is expected to reach $16.40 billion by 2031, with a CAGR of 5.3% over the forecast period. Key drivers of this growth include the rising prevalence of chronic pain among the elderly, increasing surgical procedures, and growing incidences of cancer and musculoskeletal disorders. Technological advancements in these devices, higher healthcare spending, and a rise in sports and accident-related injuries also contribute significantly to market expansion.
However, challenges such as high device costs and occasional product recalls pose obstacles to market growth. Despite these challenges, opportunities for growth are anticipated from partnerships among manufacturers, the integration of digital health technologies, and expanding markets in developing countries. Other challenges include limited awareness of these devices in emerging economies and competition from alternative technologies. Emerging trends in the market include the increasing importance of electrical stimulation devices and wearable pain management solutions.
Key Players
Major players in the pain management devices market include:
• Abbott Laboratories (U.S.)
• Becton, Dickinson and Company (U.S.)
• Boston Scientific Corporation (U.S.)
• Johnson & Johnson Services, Inc. (U.S.)
• Baxter International, Inc. (U.S.)
• Virpax Pharmaceuticals, Inc. (U.S.)
• B. Braun Melsungen AG (Germany)
• Medtronic plc (Ireland)
• Rusan Pharma Ltd (India)
• Grünenthal GmbH (Germany)
• OMRON Healthcare, Inc. (U.S.)
• Nevro Corp. (U.S.)
Pain Management Devices Market: Future Outlook
The pain management devices market offers a range of products, including:
• Compression Therapy Devices (bandages, garments like stockings, socks, sleeves, wraps, tapes, etc.)
• Neurostimulation Devices (Deep Brain Stimulation [DBS] Systems, Spinal Cord Stimulation Systems, Transcutaneous Electrical Nerve Stimulation [TENS] Systems, Vagus Nerve Stimulation [VNS] Systems, etc.)
• Analgesic Infusion Pumps (Intrathecal and External types)
• Electrotherapy Devices
• Ablation Devices
• Accessories
These devices are categorized by their portability into stationary/benchtop units and wearable/implantable solutions. They address various types of pain, including acute pain (injuries and surgeries) and chronic pain (musculoskeletal, neuropathic, cancer-related, and other chronic conditions).
Distribution channels include hospital pharmacies, retail pharmacies, and online/e-commerce platforms. End users include hospitals, clinics, ambulatory surgical centers, physiotherapy centers, home care settings, and others. Market analysis includes competitive assessments within the industry and examines market dynamics at regional and national levels.
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Market Segmentation
By Product:
• Compression Therapy Devices
• Neurostimulation Devices
• Analgesic Infusion Pumps
• Electrotherapy Devices
• Ablation Devices
• Accessories
By Portability:
• Stationary/Benchtop Devices
• Wearable & Implantable Devices
By Pain Type:
• Acute Pain
• Chronic Pain
By Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online/E-commerce Platforms
By End User:
• Hospitals & Clinics
• Ambulatory Surgical Centers
• Physiotherapy Centers
• Home Care Settings
• Other Sectors
Geographic Review
This study provides a comprehensive analysis of the pain management devices market across key regions, including:
• North America (U.S. and Canada)
• Europe (Germany, France, U.K., Italy, Spain, Switzerland, and other European countries)
• Asia-Pacific (China, Japan, India, South Korea, Australia, and other Asian countries)
• Latin America (Brazil, Mexico, and other Latin American countries)
• Middle East & Africa
By 2024, North America is expected to lead with a market share of 30.7% in the pain management devices sector, followed closely by Europe and Asia-Pacific. North America's prominent position is driven by the presence of leading manufacturers, advanced healthcare infrastructure, increasing healthcare expenditures, rising incidences of cancer and musculoskeletal disorders, and a growing number of surgical procedures in the region.
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Key Questions Answered in the Report
• Which market segments show high growth potential in terms of product, portability, pain type, distribution channel, end user, and region/country?
• What was the historical global market size for pain management devices?
• What are the market forecasts and estimates for 2024–2031 in the pain management devices sector?
• What are the primary drivers, restraints, opportunities, challenges, and trends influencing the pain management devices market?
• Who are the key players operating in the pain management devices market?
• What does the competitive landscape look like, and which companies are leading in the pain management devices market?
• What recent developments have occurred in the pain management devices market?
• What growth strategies have major players adopted in the pain management devices market?
• What are the geographical trends, and which regions/countries are experiencing rapid growth?
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