Currently, Pain Management Devices Market is growing at a Compound Annual Growth Rate (CAGR) of 8.6% to reach USD 3.3 billion by 2026. are used to manage chronic and acute pain in patients suffering from various types of disease conditions, such as cancer, neurological disorders, and musculoskeletal disorders, among others. These devices restore the ability to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions. However, product recalls and high procedural costs likely to challenge market growth in the coming years.
Request for assumptions & how numbers were triangulated.
https://www.marketsandmarkets.com/requestsampleNew.asp?id=91418163
- Expanding patient population
- Growing demand for long-term pain management among the geriatric population
- Increasing preference for pain management devices owing to the adverse effects of pain medications on patients
- High growth opportunities in emerging countries
- Expanding base of pain management clinics/centers across the globe
- Use of pain medications as the first line of treatment for pain management
- High procedural and purchase cost of pain management devices
- Product recalls
Boston Scientific is one of the key players in the pain management devices market. Through its Rhythm Management segment, the company provides neuromodulation products, such as rechargeable spinal cord stimulators and microstimulators for managing neuropathic pain. Moreover, Boston Scientific has a strong geographic presence in more than 40 countries globally. The company markets and distributes its products to ~13,000 hospitals, clinics, outpatient facilities, and medical offices in over 100 countries worldwide.
Download an Illustrative Overview:
- North America has been among the frontrunners in developing pain management devices services in the healthcare industry.
- The pain management devices market in the US is expected to offer growth opportunities in the coming years owing to the increasing incorporation of pain management devices in the ambulatory care centers.
- Neurostimulation devices to register the highest share in the type market.
- Neuropathic pain to hold the largest segment of the market.