ALL >> Business >> View Article
Pain Management Devices Market On The Rise: Challenges And Opportunities
The global pain management devices market is projected to reach USD 3.3 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 8.6% during the forecast period Pain management devices 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=91418163
Drivers: growing number of surgical procedures performed
The increasing number of surgical procedures performed worldwide is a major driver of ...
... the pain management devices market. The growing prevalence of chronic conditions, such as cancer and neurological disorders, has led to an increased demand for surgical interventions, which, in turn, has fostered the demand for pain management devices. Additionally, technological advancements and the introduction of minimally invasive procedures have further driven the demand for pain management devices. Moreover, the increasing focus on early diagnosis and treatment of diseases, the rising awareness about healthcare, the increasing availability of healthcare services, and the increasing government initiatives to promote healthcare are projected to drive the growth of the market.
Opportunities: High growth in emerging markets
The pain management devices market is expected to experience exponential growth in emerging markets due to increasing awareness of the benefits of pain management devices and rising disposable incomes. As the demand for pain management products continues to grow, manufacturers are offering improved products and services at competitive prices, which is expected to further drive the growth of the global pain management devices market. Moreover, government initiatives to increase healthcare access and affordability, such as the Affordable Care Act (ACA) in the US, are likely to boost the demand for pain management devices in the region. In addition, technological advancements, such as the development of smart pain management devices, are expected to create new opportunities for the market.
Major Player
Some of the prominent players operating in the pain management devices market are Medtronic PLC (Ireland), Boston Scientific (US), Abbott (US), Becton, Dickinson and Company (US), Baxter International (US), B. Braun Melsungen AG (Germany), Stryker (US), Smiths Medical (US), Moog Inc. (US), Avanos Medical, Inc. (US), Nipro Corporation (Japan), Atricure (US), Nevro Corp. (US), Micrel Medical Devices SA (Greece), InfuTronix Solutions LLC (US), Teleflex, Inc. (US), Mindray Medical International Limited (China), Shenzhen MedRena Biotech Co., Ltd. (China), Epic Medical (Singapore), Bioness (US), Microtransponder (US), Neuronano (Sweden), Gimer Medical (Taiwan), Bluewind Medical (Israel), Soterix Medical Inc. (US) and other players.
Medtronic is the leading player in the pain management devices market. The company, as part of its marketing and sales strategy, focuses on rapid and cost-effective product delivery to its global customers. Additionally, the company maintains strong relationships with physicians and providers to gain a detailed understanding of their requirements. The company has gained a major share in the neuromodulation market because of its diversified product portfolio, widespread geographical presence, focus on inorganic growth strategies, strong focus on R&D, and aggressive marketing and sales strategies.
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.
Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=91418163
Abbott is among the major players in the pain management devices market. The company’s leading position can be attributed to its wide product portfolio. The firm focuses on organic and inorganic growth strategies.
Related Links
https://www.marketsandmarkets.com/Market-Reports/pain-management-devices-market-91418163.html
https://www.marketsandmarkets.com/ResearchInsight/pain-management-devices-market.asp
https://www.marketsandmarkets.com/PressReleases/pain-management-devices.asp
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
An innovative professional with 6+ years of progressive experience within the Healthcare industry. with the skills to drive business growth, capitalize on new revenue potential, and manage all aspects of daily internet / eCommerce operations.
Add Comment
Business Articles
1. How Global Trade Finance Facilitates Cross-border Transactions And Reduces RiskAuthor: Riddhi Divan
2. Innovative Uses Of Nickel In Cryogenic And Marine Environments
Author: Online fittings
3. Implementing Predictive Analytics In Your Abm Toolkit
Author: SalesMark Global
4. Comparing The Top 5 Live Commerce Platforms For 2024
Author: Amy Williams
5. Data-driven Precision Marketing For Effective Demand Generation
Author: SalesMark Global
6. Supercharge Your Sales With Optimized Pipeline Velocity
Author: SalesMark Global
7. Best Japan Tour Packages
Author: bharathi
8. Adani Group Stocks Down 20%; Gautam Adani Indicted In Us Over Bribery Charges
Author: Bizzbuzz
9. High-performance Ss Round Bars: Addressing The Energy Sector's Needs
Author: Neelkamal Alloys LLP
10. The Role Of Modern Washroom Solutions In Maintaining Cleanliness
Author: ritika krishna
11. Why Choose Premium Taxi Services In Kochi?
Author: maya
12. Black Magic Astrologer In Kasaragod
Author: Sripandith05
13. The Health Benefits Of Adding Pineapple To Your Pancakes
Author: maya
14. Top Luxury Resorts In Kerala For Your Dream Vacation
Author: maya
15. How To Start Your Shopping Website In Doha: A Simple Guide
Author: maya