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Global Pain Management Devices Market Study Analysis: Adoption Of Pain Management Devices Is Growing for Neuropathic Pain

02-10-2022 02:30 PM CET | Health & Medicine

Press release from: Evolve Business Intelligence

Global Pain Management Devices Market Study Analysis: Adoption

The fast-food market size was valued at $ billion in 2020 and is estimated to reach $ billion by 2028, growing at a CAGR of 6.3% during the forecast period. Pain is an unpleasant sensation and emotional experience caused due to actual or potential tissue damage or illness. Pain can be caused due to accidental injuries, or due to diseases like osteoarthritis, chronic arthritis, diabetic neuropathy, multiple sclerosis, stomach ulcer, fibromyalgia, and cancer. There are three categories of pain Acute pain: This pain lasts for a short duration of time and is a result of surgery or minor injuries. Chronic pain: The pain that requires time to heal following surgery, trauma, neural problems, or other condition like aging or injuries is termed chronic pain. Chronic pain may also be an indication of other health issues. Cancer pain: At the early stage of severe diseases like cancer patients usually suffer from severe pains. This pain may even continue after treatment or as a side-effect of treatment. There are dedicated drugs and devices to minimize the pain by blocking the passage of pain signals to the brain. They are helpful in curing pains caused by cancer, musculoskeletal injury and neuropathic pain, nociceptive pain, and so on. Spinal cord stimulators, transcutaneous electrical nerve stimulation devices, analgesic infusion pumps, and ablation devices are various types of pain management devices available on the market. Pain management devices such as electrical nerve stimulators and neuro-stimulators use mild frequencies of current to block the passage of pain signals. The radiofrequency ablators destroy nerves by generating heat to block the pain signals. It must be noted that two people may have the same pain condition but their experience of living with pain can be vastly different. The increase in the old age population, cancer patients, neuropathic disorders and increasing government efforts to introduce optimal pain management devices are fueling the market growth. Also increasing demands of healthcare products with the increase in healthcare expenditure is expected to boost the pain management devices market growth.

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Global Pain Management Devices Market Drivers And Restrain:
The major factors that have impacted the growth of the pain management devices market are the increasing prevalence of diabetes, increasing cases of cancer that demand pain management devices, and others.

Increasing prevalence of diabetes:
Some factors such as the high prevalence of diabetes, coupled with the rising geriatric population base, adverse effects of pain medications, development of pain management devices, and the growing demand for effective pain management devices among the patients are driving the market growth of pain management devices. According to World Health Organization statistics, there are 422 million diabetes patients in the year 2014. According to the International Diabetes Federation, the global prevalence of diabetes is expected to be 552 million by 2030 which will result in the increase of pain management devices for chronic pain. The demand for pain management devices for curing chronic pain will increase among the emerging nations due to the increase in disposable income is estimated to contribute towards the pain management devices growth.

Increasing cases of cancer:
According to World Health Organization, around 9.6 million deaths globally are due to cancer in 2018. About 1 in 6 deaths are due to cancer thus proving it to be the second-largest cause of death globally. Severe pains many a time are a symptom of the initial stages of cancer. Also, the therapies given to the patients as a part of treatment are causing cancer pain. It is verified that around 20 to 50% of cancer patients experience acute pain at the time of diagnosis and around 75% experience pain during the disease progression. With the rise in cancer cases the demand for pain management devices to manage pain caused due to a tumor and several other factors depending upon the stage of cancer is increasing.
The market is hampered by pain control, it is preferable to take drugs.

Impact Of COVID-19 on the Pain Management Devices Market:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Pain Management Devices Market Segments:
The global Pain Management Devices market is further segmented into product type, application, and geography.
By Product Type: Neurostimulation, SCS, TENS, RF Ablation, and Infusion Pumps
By Application: Neuropathic Pain, Cancer Pain, Facial & Migraine Pain, Musculoskeletal Pain, and Others

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa and South America)

The Asia-Pacific region is expected to show lucrative growth in the pain management devices market owing to the growing incidence of chronic diseases, improving healthcare infrastructure, growing middle-class population, increasing disposable income, and rising awareness about the safety and efficacy of pain management devices. North America is expected to be the prominent region for pain management devices market growth owing to the increasing target population thereby fueling. With the rising adoption of advanced equipment by healthcare professionals and patients, developed infrastructure facilities are estimated to further supplement pain management devices' growth.

Key Players of Global Pain Management Devices Market:
• Abbott Laboratories
• B Braun Melsungen AG
• Baxter International Inc
• Boston Scientific Corp
• OMRON
• Johnson & Johnson
• Kimberly Clark Corporation
• Boston Scientific Corporation
• Pfizer Inc
• Stryker Corp

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Pain Management Devices Market
• Value Chain Analysis of Global Pain Management Devices Market
• What is the CAGR of the global Pain Management Devices Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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About EvolveBI
Evolve Business Intelligence is market research, business intelligence, and advising service that offers creative solutions to a company's problems. Data beneficial to micro, small, medium, and large-scale businesses can be found in our market research studies. We offer a wide range of services, from data collection to business consulting.
Evolve Business Intelligence is built on account of technology advancement and our in-house AI-modelled data analysis and forecast tool – EvolveBI – provides extremely accurate data. This application tracks real-time statistics from Fortune's Global 2000 firms, including quarterly performance, annual performance, and recent changes.

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