Pain Management Devices Market To Reach USD 17.2 Billion By 2032, Says DataHorizzon Research
The pain management devices market size was valued at USD 7.4 Billion in 2023 and is expected to reach a market size of USD 17.2 Billion by 2032 at a CAGR of 9.8%.
Fort Collins, Colorado, April 22, 2024 (GLOBE NEWSWIRE) --*Technological advances and the rise in the adoption of minimally invasive pain management devices boost industry growth.*
Technological advancements and the growing adoption of minimally invasive pain management procedures have emerged as significant drivers for the growth of the *pain management devices market.* Innovations such as radiofrequency ablation, spinal cord stimulation, and high-intensity focused ultrasound (HIFU) have transformed the treatment landscape for chronic pain conditions. These minimally invasive procedures offer several advantages over traditional surgical interventions, including reduced post-operative pain, shorter recovery times, and improved patient outcomes. Furthermore, the rising emphasis on personalized medicine and the growing demand for targeted pain management approaches have further propelled the adoption of advanced pain management devices. Examples include implantable drug delivery systems and neurostimulation devices, which cater to the need for more tailored and effective pain relief solutions.
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*Segmentation Overview:*
*The pain management devices market has been segmented into type, application, mode of purchase, and region.*
*Neurostimulation devices to grab the largest share in the global market.*
· Neurostimulation devices accounted for a significant share in the forecast period. Neurostimulation devices, such as spinal cord stimulators, transcutaneous electrical nerve stimulation (TENS) devices, and peripheral nerve stimulators, use electrical impulses to modulate pain signals and relieve patients suffering from chronic pain conditions. The widespread adoption of neurostimulation devices can be attributed to their non-invasive nature, adjustable pain relief settings, and the growing body of clinical evidence supporting their efficacy in managing various pain conditions, including failed back surgery syndrome, complex regional pain syndrome, and neuropathic pain.
*Musculoskeletal pain emerged to be the largest segment in 2023.*
· Musculoskeletal pain will emerge as the largest segment in the following years. This segment includes conditions such as chronic lower back pain, osteoarthritis, and fibromyalgia. Musculoskeletal pain is one of the most common reasons for seeking medical attention and a leading cause of disability worldwide. The high prevalence of musculoskeletal disorders, coupled with the increasing aging population and the growing incidence of obesity, has contributed to the dominance of this segment.
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*Pain Management Devices Market Report Highlights:*
· The pain management devices market growth is anticipated at a *CAGR of 9.8% by 2032.*
· The growing prevalence of chronic pain conditions drives the pain management devices industry in the following years.
· The Asia-Pacific region is leading the pain management devices industry and is projected to attain a significant market share in the forthcoming years.
· Some prominent players in the pain management devices market report include Medtronic plc, Boston Scientific Corporation, Abbott Laboratories, Nevro Corp., Becton, Dickinson and Company (BD), Stryker Corporation, Baxter International Inc., B. Braun Melsungen AG, Smith & Nephew plc, DJO Global Inc., Smiths Medical (a subsidiary of ICU Medical, Inc.), and AVANOS MEDICAL, INC.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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