Global markets for pain management devices, 2021-2026 focusing on electrical stimulators, neurostimulation devices, analgesic infusion pumps and ablation devices

DUBLIN, November 17, 2021– (BUSINESS WIRE) – The report “Pain Management Devices – Forecasts from 2021 to 2026” has been added to ResearchAndMarkets.com’s offer.

The global market for pain management devices is expected to grow at a compound annual growth rate of 11.04% over the forecast period to reach a market size of $ 10.059 billion in 2026 from $ 4.834 billion in 2019.

Recently, the use of pain management devices has been expanded due to increasing population in maturation. Expansion of the malignancy population, growing predominance of a lifestyle-related disease, and expanding neuropathic root are some of the key variables driving the development of the global market for pain management equipment.

Furthermore, the expansion of mindfulness of medical services and increasing consumption of medical treatment also stimulates the development of the worldwide market for pain treatment equipment. Either way, it results in e.g. in excessive skin contact, redness and hyperpigmentation and availability of substitutes, e.g. Pain relief prescriptions are part of the key considerations that limit the development of the worldwide market for pain management equipment.

Finally, market participants across the globe, taking into account the projected increase in demand for pain management devices in the coming years, take into account various strategic measures to develop new products and subsequently also increase their market share.

Growth factors

Increasing prevalence of pain-causing diseases

The rising incidence of cancer is expected to further increase the demand for pain management units during the prognosis period. In addition, the high prevalence of musculoskeletal problems, such as arthritis, osteoarthritis, muscle degenerative problems and rheumatoid joint pain, and a consequent increase in cases of persistent pain and failure to perform routine errands, will support the interest of the product.

The inability of oral medicine to push patients to search for optional treatment options, such as pain management equipment. The significant cost of hospitalization is also expected to help the market for pain management devices, as these significant costs of hospitalization have expanded the need for a reduced medical clinic stay and the need to move to more affordable treatment options, thus increasing interest in the goods. .

Increasing elderly population

The ever-increasing population of people over the age of 65 is also expected to contribute to the growth of the market for pain management devices.

Due to rising life expectancy and declining fertility levels, the UN explained that for the first time in history, people aged 65 or over were more than children under the age of five worldwide. In addition, every sixth person in the world by 2050 will be over 65 (16%), an increase from every 11 in 2019 (9%). With the increasing geriatric population, the demand for pain treatment equipment is also expected to increase given the prevalence of arthritis in them.

COVID – 19 Impact on the market for pain management devices

The COVID-19 outbreak affected most of the sectors, including the medical device industry. Cross country lockdowns have affected patients who were explicitly dependent on practice projects or PT as a pain management routine. In addition, several optional systems, persistent personal visits have been suspended or postponed, which is claimed to build interest in pain management at home, which is expected to affect the growth of the market for pain management devices.

Competitive insights.

The increasing demand for pain management equipment has led to several new market players such as Pain Management Technologies entering the market for pain management equipment. The entry of these new players into a market where traditional pharmaceutical giants such as Abbott Laboratories and Boston Scientific Corporation already exist is expected to lead to further innovation in the pain management market.

In order to further increase their customer base as well as increase their market share in the coming years, many of these market players have also taken various strategic initiatives such as partnerships and the development of new solutions that primarily focus on providing patient comfort.

In June 2020, for example, Abbott partnered with Tandem Diabetes Care to develop integrated diabetes solutions. These strategic actions by the various competitive market players are expected to keep the market competitive and constantly evolving.

Company profiles.

  • NeuroMetrix, Inc.

  • Medtronic

  • Boston Scientific Corporation

  • Zynex Medical

  • BioElectronics Corporation

  • Pain management technologies

  • SPR Therapeutics

  • Becton, Dickinson and Company

  • Abbott

  • Nevro Corp

Market segmentation:

By devices

  • Electrical stimulators

  • Neurostimulation devices

  • Analgesic infusion pumps

  • Ablation devices

By Application

  • Facial and migraine pain

  • Neuropathic pain

  • Cancer pain

  • Musculoskeletal pain

For more information on this report, visit https://www.researchandmarkets.com/r/hnyvbt

See the source version at businesswire.com: https://www.businesswire.com/news/home/20211117006062/en/

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