Pain Management Devices Market Will Reach USD 4,792.2 Million By 2030

In 2023, the pain management devices market had a total size of USD 2,518.2 million, and it is projected to hit USD 4,792.2 million by 2030, advancing at a rate of 9.6%, during the projection period.

The growth of the industry can be credited to the increasing occurrence of chronic conditions as lifestyle-associated illnesses, for instance, diabetes and obesity, drive the need for nerve and muscle stimulators. Other health problems that can result in pain are trauma or hypertension.

The rising operation count all across the world is another major propeller for the market. The growing occurrence of neurological illnesses, CVDs, and cancer has fuelled the demand for medical interventions, which has, ultimately, made pain management devices essential.

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The key propeller for the pain management devices market is the growing count of individuals with chronic illnesses, numerous of whom have discomfort as the primary symptom. For example, high blood pressure significantly surges the danger of brain aneurysms, which, if broken, cause excruciating pain. As per the WHO's data issued in March 2023, around 1.28 billion grownups aged 30 to 79 years have hypertension.

The growing number of amputation operations is also a major factor in the increasing requirement for pain management devices. A count of factors can result in amputations, like flesh-eating diseases, musculoskeletal conditions, vascular diseases, sports injuries, diabetes, violence (due to battles), and genetic factors. An amputation is mainly done when either the wound is too complex to be repaired and dangers harm to the surrounding tissue or to avoid the spread of illnesses, like gangrene, cancer, and necrotizing fasciitis.

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The North American region is dominating the market due to the easy obtainability of pioneering healthcare tech and the rising utilization of pain management devices in ambulatory centers. According to the Journal of Pain and Palliative Therapy, more than 20% of the populace of the U.S. is suffering from chronic illness and 5% of the grownups go through high-impact chronic pain.

Moreover, due to the high occurrence of neuropathic pain in the U.S., individuals are more reliant on pain management devices than drugs. According to an article in the journal Pain Medicine, about 2% of the individuals in the U.S. suffer from neuropathic pain. Therefore, as around half of the nation's populace has at least one chronic disorder and supplementary pain, the industry continues to improve in the region.

Neurostimulation items had the largest income share in recent years, due to the surge in the occurrence of neurological illnesses. Neurostimulators play a vital role in the management of chronic pain because of Parkinson's, apart from epilepsy, depression, and movement-related ailments. In this regard, the launch of progressive products and the rising ageing populace will drive the industry.

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