Chicago, Feb. 01, 2023 (GLOBE NEWSWIRE) — In keeping with the brand new market analysis report revealed by MarketsandMarkets, “Pain Management Devices Market by Kind (Neurostimulation, SCS, TENS, RF Ablation, Infusion Pumps), Software (Neuropathy, Most cancers, Facial, MSK, Migraine), Mode of Buy (OTC, Prescription-based) & Area (NA, Europe, APAC) – World Forecasts to 2026“, the worldwide ache administration units market when it comes to income was estimated to be value $2.2 billion in 2021 and is poised to succeed in $3.3 billion by 2026, rising at a CAGR of 8.6% from 2021 to 2026.
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182 – Tables
56 – Figures
249 – Pages
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Pain Management Devices Market Report Scope:
| Report Protection | Particulars |
| Market Worth by 2026 | $3.3 billion |
| Progress Charge | Poised to develop at CAGR of 8.6% |
| Historic Information | 2019–2026 |
| Base Yr | 2020 |
| Forecast Interval | 2021–2026 |
| Forecast Models | Worth (USD Billion) |
| Report Protection | Income Forecast, Aggressive Panorama, Progress Components, and Developments |
| Segments Lined | By Kind, By Software, By Mode of Buy, & By Area |
| Geographies Lined | North America, Europe, Asia Pacific, ROW |
| Key Corporations Profiled/Distributors | Medtronic PLC (Eire), Boston Scientific (US), Abbott (US), Becton, Dickinson and Firm (US), Baxter Worldwide (US), B. Braun Melsungen AG (Germany), amongst different gamers |
| Key Market Alternatives | Excessive progress in rising markets |
| Key Market Drivers | Rising variety of surgical procedures carried out |
Pain administration units are used to handle power and acute ache in sufferers affected by varied sorts of illness circumstances, corresponding to most cancers, neurological issues, and musculoskeletal issues, amongst others. These units restore the flexibility to do on a regular basis actions, lower the necessity for oral ache medicines, and enhance the standard of lifetime of sufferers affected by these circumstances. Nonetheless, product remembers and excessive procedural prices are more likely to problem market progress within the coming years.
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On this report, the ache administration units market has been segmented based mostly on kind, software, mode of buy, and area.
Primarily based on kind, the ache administration units market is segmented into neurostimulation units, infusion pumps, and ablation units. In 2020, the neurostimulation section accounted for 58.0% of the ache administration units market. This section is projected to succeed in USD 1,910.7 million by 2026 from USD 1,247.7 million in 2021, at a CAGR of 8.6%. Neurostimulation units present ache aid by disrupting ache indicators travelling between the spinal wire and the mind. These units could be both implantable or non-implantable in nature. Neuromodulation units are additional categorised into transcutaneous electrical nerve stimulators (TENS) and spinal wire stimulators. The big share and excessive progress of this section are attributed to some great benefits of neuromodulation as in comparison with various therapies for managing power ache, its long-term value effectiveness, and technological developments within the neurostimulation units section.
Primarily based on software, the ache administration units market is segmented into neuropathic ache, musculoskeletal ache, most cancers ache, facial ache and migraine, and different functions. In 2020, the neuropathic ache section held the most important market share of 31.4%. The presence of considerable scientific proof supporting the excessive efficacy of ache administration units within the therapy of neuropathic ache, the event of novel neuropathic ache administration units, the worldwide ageing inhabitants (the geriatric inhabitants is at excessive threat of neuropathic ache as a result of elevated incidence of neuropathic ache related to many age-related illnesses), the unwanted side effects of medication used to deal with neuropathic ache, and the provision of latest neuropathic ache administration units.
On the idea of mode of buy, the ache administration units market is segmented into prescription and over-the-counter merchandise. Prescription units had the most important market share of 89.7% in 2020. The provision of many FDA-approved prescription-based ache administration units, the longer market presence of those units with established security and efficacy profiles, long-term value effectiveness, and a beneficial reimbursement state of affairs for these units are the important thing components stimulating the expansion of the prescription-based units market.
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Geographical Progress State of affairs:
The ache administration units market is segmented into 5 main areas: North America, Europe, Asia Pacific, Latin America, and the Center East and Africa. North America has been among the many frontrunners in creating ache administration units and providers within the healthcare trade. The ache administration units market within the US is anticipated to supply progress alternatives within the coming years owing to the rising incorporation of ache administration units in ambulatory care facilities. Many main world gamers are additionally based mostly within the US, owing to which the nation has grow to be a centre of innovation within the ache administration units market.
Key Gamers:
A few of the distinguished gamers working within the ache administration units market are Medtronic PLC (Eire), Boston Scientific (US), Abbott (US), Becton, Dickinson and Firm (US), Baxter Worldwide (US), B. Braun Melsungen AG (Germany), Stryker (US), Smiths Medical (US), Moog Inc. (US), Avanos Medical, Inc. (US), Nipro Company (Japan), Atricure (US), Nevro Corp. (US), Micrel Medical Devices SA (Greece), InfuTronix Options LLC (US), Teleflex, Inc. (US), Mindray Medical Worldwide Restricted (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 different gamers.
High Pain Management Devices Market Participant:
Medtronic is the main participant within the ache administration units market. The corporate, as a part of its advertising and gross sales technique, focuses on fast and cost-effective product supply to its world prospects. Moreover, the corporate maintains robust relationships with physicians and suppliers to realize an in depth understanding of their necessities. The corporate has gained a serious share within the neuromodulation market due to its diversified product portfolio, widespread geographical presence, deal with inorganic progress methods, robust deal with R&D, and aggressive advertising and gross sales methods.
Boston Scientific is without doubt one of the key gamers within the ache administration units market. By means of its Rhythm Management section, the corporate gives neuromodulation merchandise, corresponding to rechargeable spinal wire stimulators and microstimulators for managing neuropathic ache. Furthermore, Boston Scientific has a robust geographic presence in additional than 40 international locations globally. The corporate markets and distributes its merchandise to ~13,000 hospitals, clinics, outpatient services, and medical places of work in over 100 international locations worldwide.
Abbott is among the many main gamers within the ache administration units market. The corporate’s main place could be attributed to its large product portfolio. The agency focuses on natural and inorganic progress methods.
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