Market Overview:
The pain management device market is booming and is expected to grow at a faster rate than most other medical sectors. The prevalence of chronic pain is rising, especially in developed countries. Furthermore, there is a growing awareness of chronic pain among the public, which is contributing to the demand for these products. A growing number of patients are opting for the use of these devices as the cost associated with the treatment is significantly higher than that of other medical methods. The use of these devices can help manage chronic pain by reducing the level of discomfort. Pain management is an area of medicine that is often referred to as pain medicine or pain control. It is a branch of medicine called algiatry and uses an interdisciplinary approach to treat chronic pain to improve the patient’s quality of life. Several approaches are available to manage chronic pain, and each may be effective for a particular patient. Listed below are some of the most common approaches. The primary focus of pain management is to minimize the amount of suffering caused by chronic pain.
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Competitive Landscape:
Major players operating in the global pain management devices market include Soterix Medical Inc., Bluewind Medical, Gimer Medical, Neuronano, Microtransponder, Bioness, Epic Medical, Shenzhen MedRena Biotech Co., Ltd., Mindray Medical International Limited, Teleflex, Inc., InfuTronix Solutions LLC, Micrel Medical Devices SA, Nevro Corp., Atricure, Nipro Corporation, Avanos Medical, Inc., Moog Inc., Smiths Medical, Stryker, B. Braun Melsungen AG, Baxter International, Becton, Dickinson and Company, Abbott, Boston Scientific, and Medtronic PLC.
Key Market Drivers:
The increasing prevalence of chronic pain disorders, such as epilepsy is the major factor that is driving the growth of the global pain management devices market. For instance, according to the National Institutes of Health (NIH), around 70 million individuals in the world suffer from epilepsy. Using a variety of drugs is an important part of pain management. In some cases, medication is prescribed to manage the pain. These include prescription medications and over-the-counter remedies. These medications can be used to treat the underlying cause of the discomfort. Other options include pharmacological therapies, some invasive procedures, and non-pharmacological treatments. The basic idea of pain management is to treat the underlying cause of the condition so that it doesn’t return. While treating the source of pain is important, it does not always provide immediate relief. In many cases, the resulting discomfort can impede recovery and degrade the quality of life. The increasing introduction of better pain management drugs is estimated to propel the growth of the global pain management devices market.
Covid-19 Impact Analysis:
During the COVID-19 pandemic, there was a boost in the growth of the global pain management devices market, owing to new strategies taken and products launched by key market players. For instance, in January 2020, Medtronic introduced Efficio, which is a data management software and is used for the SynchroMed II intrathecal drug delivery system.
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Key Takeaways:
In April 2019, US FDA gave the 0020 501(k) clearance to Avanos Medical for the ON-Q infusion pump used for pain management.
North America is expected to dominate the growth of the global pain management devices market, owing to the increasing prevalence of painful chronic health issues in the region. For instance, according to the U.S. Centers for Disease Control and Prevention, there are around 3.4 million cases of epilepsy in the region.
The Asia Pacific is estimated to witness high growth in the global pain management devices market, owing to the increasing prevalence of chronic pain and neurological disorders in the region. Moreover, increasing advancements in the medical sector are assessed to propel the growth of the market.
Reasons To buy The Pain Management Devices Market Report:
➛ In-depth analysis of the market on the global and regional levels.
➛ Major changes in market dynamics and competitive landscape.
➛ Segmentation on the basis of type, application, geography, and others.
➛ Historical and future market research in terms of size, share growth, volume, and sales.
➛ Major changes and assessment in market dynamics and developments.
➛ Emerging key segments and regions
➛ Key business strategies by major market players and their key methods.
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Points cover in Global Pain Management Devices Market Research Report:
Chapter 1: Overview of Global Pain Management Devices Market (2022-2028)
- Definition
- Specifications
- Classification
- Applications
- Regions
Chapter 2: Market Competition by Players/Suppliers 2022 and 2028
- Manufacturing Cost Structure
- Manufacturing Process
- Industry Chain Structure
Chapter 3: Sales (Volume) and Revenue (Value) by Region (2022-2028)
- Sales
- Revenue and market share
Chapter 4, 5 and 6: Global Pain Management Devices Market by Type, Application & Players/Suppliers Profiles (2022-2028)
- Market Share by Type & Application
- Growth Rate by Type & Application
- Drivers and Opportunities
- Company Basic Information
Chapter 7, 8 and 9: Global Pain Management Devices Manufacturing Cost, Sourcing & Marketing Strategy Analysis
- Key Raw Materials Analysis
- Upstream Raw Materials Sourcing
- Marketing Channel
Chapter 10 and 11: Pain Management Devices Market Effect Factors Analysis and Market Size (Value and Volume) Forecast (2022-2028)
- Technology Progress/Risk
- Sales Volume, Revenue Forecast (by Type, Application & Region)
Chapter 12, 13, 14 and 15: Global Pain Management Devices Market Research Findings and Conclusion, appendix and data source
- Methodology/Research Approach
- Data Source (Secondary Sources & Primary Sources)
- Market Size Estimation
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