The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s pain management devices and therapies market report forecasts the pain management devices and therapies market size to grow to $6.1 Billion by 2027, with a CAGR (compound annual growth rate) of more than 8%.

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Pain Management Devices And Therapies Market Size Forecast

The global pain management devices and therapies market is expected to grow from $4.01 billion in 2022 to $4.38 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pain management devices and therapies market is expected to grow from $6.1 billion in 2027 at a CAGR of 8.6%.

North America held the largest pain management devices and therapies market share.

Key Pain Management Devices And Therapies Market Driver ­– Increase In Demand For Pain Management Devices Due Rise In Chronic Diseases

As reported in an article by the Brazilian Journal of Nephrology, around 60% of patients with chronic kidney disease reported pain of any kind of intensity, which required pain management drugs. Similarly, according to a report in the ‘US National Library of Medicine, approximately 45% or 133 million of all Americans suffered from at least one chronic disease. It is also stated that more than two-thirds of all deaths are due to one of the chronic illnesses, which included coronary heart sickness, cancer, stroke, persistent obstructive pulmonary disease, and diabetes. This rise in chronic diseases is increasing the demand for pain management devices and therapies and driving the market.

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Key Pain Management Devices And Therapies Market Trend – Focusing On The Use Of Advanced Technologies

Companies in the pain management devices and therapies industry are focusing on the use of advanced technologies to cure chronic and acute pain without the use of any opioids (drugs). Special pain relief wearable devices are being developed by several companies that can be controlled manually or through a smartphone. These devices work by gathering neural pulses from the brain which triggers the release of the body’s natural pain blocker. Thus, the devices electrically stimulate the nervous system and increase the body’s resistance to pain. Companies such as NeuroMetrix, Sana, Oska wellness have introduced various types of wearable devices, ranging from a wearable mask, knee band, wrist band, etc. FDA has approved these devices as OTC (over-the-counter), which can be bought without a prescription.

Pain Management Devices And Therapies Market Segment

1) By Type: Electrical Stimulators, Ablation Devices, Neurostimulators, Analgesic Pumps

2) By Application: Neuropathic Pain, Cancer Pain, Facial & Migraine Pain, Musculoskeletal Pain, Trauma

3) By Electrical Stimulation Devices: Transcutaneous Electrical Nerve Stimulation (TENS) Devices, Neuromuscular Electrical Stimulation (NMES/EMS) Devices, Combination Devices, Electrotherapy Devices, TNS

4) By Ablation Devices: Radiofrequency Ablation Devices, Cryoablation Devices

5) By Analgesic Infusion Pumps: Intrathecal Infusion Pumps, External Infusion Pumps

6) By Neurostimulation Devices: Spinal Cord Stimulation (SCS) Devices, Deep Brain Stimulation Devices, Vagus Nerve Stimulation Devices, Sacral Nerve Stimulation Devices

Pain Management Devices And Therapies Market Major Players and Strategies

Major players in the pain management devices and therapies market are Abbott Laboratories, AstraZeneca, Pfizer, Boston Scientific Corporation, GlaxoSmithKline PLC., Teva Pharmaceutical Industries Ltd., Medtronic PLC., Novartis AG, Baxter International Inc., and Johnson & Johnson.

The Pain Management Devices And Therapies Global Market Report 2023 covers regional data on pain management devices and therapies market size, pain management devices and therapies market trends and drivers, opportunities, strategies, and pain management devices and therapies market competitor analysis. The countries covered in the pain management devices and therapies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The pain management devices and therapies manage chronic and critical pain in patients suffering from various conditions, such as cancer and neurological disorder. These are mainly used for spinal cord stimulation, sacral nerve stimulators, and deep brain stimulation.

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