Pain Management Devices Market, 44% of Growth to Originate from North America, Technavio
NEW YORK , April 16, 2024 /PRNewswire/ -- The global pain management devices market size is estimated to grow by USD 2705.68 mn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 8.92% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 44%.
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North America is expected to play a pivotal role in propelling the global pain management devices market
Geographic Landscape:
The Pain Management Devices Market in North America experienced significant growth in 2022, driven by the increasing prevalence of chronic diseases such as diabetes, cancer, and arthritis, as well as neuropathic disorders and cardiovascular diseases like atrial fibrillation and stroke. The elderly population, a significant demographic for chronic ailments like osteoarthritis and rheumatoid arthritis, also contributed to market expansion. Technological advances, including electrical stimulation and neurostimulation devices, ablation devices, and analgesic infusion pumps, catered to refractory pain, chronic pain, and acute pain in cancer and stroke patients. Physiotherapy centers and rehabilitation facilities, injury prevention programs in hospitals and clinics, and the healthcare industry's growing awareness of chronic diseases further fueled market growth. Consumer awareness of pain management devices and their role in improving quality of life, as well as the increasing number of product approvals and global and local manufacturers, also contributed to the market's expansion. Lifestyle-related diseases, skin hypersensitivity, hyperpigmentation, and nerves were among the various conditions addressed by these medical devices.
Research Analysis
The Pain Management Devices Market encompasses a range of medical devices designed to alleviate both acute and chronic pain for various patient populations. These include analgesic infusion pumps, spinal cord stimulators, neurostimulation devices, and ablation devices. Chronic pain patients, such as those with cancer or neuropathic conditions, as well as the geriatric population suffering from conditions like osteoarthritis or back pain, greatly benefit from these advanced technologies. Hospitals and clinics in the healthcare industry are significant contributors to the market, alongside consumer awareness and the growing prevalence of chronic diseases like stroke, cardiovascular disease, and cancer. Rehabilitation centers and physiotherapy centers also play a crucial role in the implementation and utilization of pain management devices for injury prevention and effective pain relief.
Market Drivers
The global Pain Management Devices Market is experiencing significant growth due to the rising prevalence of chronic diseases and neuropathic disorders among the geriatric population. Lifestyle-related diseases, such as cardiovascular disorders including atrial fibrillation, stroke, and cancer, are leading causes of chronic ailments and refractory pain. Skin hypersensitivity and hyperpigmentation are also common issues among chronic pain patients. Pharmaceutical medications offer relief for acute and chronic pain, but their long-term use can lead to side effects and dependence. Alternative solutions, such as electrical stimulation through devices like analgesic infusion pumps, spinal cord stimulators, and neurostimulation devices, are gaining popularity. These devices are effective in managing neuropathic pain, osteoarthritis, rheumatoid arthritis, and orthopedic degenerative disorders. The healthcare industry, including physiotherapy centers, rehabilitation facilities, hospitals, and clinics, is investing in pain management devices to improve patient care and quality of life. Consumer awareness and injury prevention initiatives are also driving market growth. Cancer and stroke patients, as well as the elderly population, are key beneficiaries of these advancements in pain management technology.
Market Overview
The Pain Management Devices market encompasses a range of chronic and acute pain treatment solutions. These devices include chronic pain management systems, such as spinal cord stimulators and nerve stimulators. Additionally, pain pumps and hydropumps are utilized for the delivery of analgesics. The market also caters to the use of cardiovascular pacemakers and defibrillators, which provide pain relief as a secondary benefit. Furthermore, the market includes the application of heat and cold therapy, such as spinals and hot/cold packs. Neuropathic pain treatments, like transcutaneous electrical nerve stimulation (TENS) units, are also part of this market. The use of these devices can help improve patients' quality of life by effectively managing their pain. The market for pain management devices is expected to grow significantly due to the increasing prevalence of chronic pain conditions and the ongoing development of advanced technologies.
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About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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