The Pain Management
Market Overview and Analysis By Devices (Neurostimulation, Ablation Devices, Others),
Drugs (NSAIDS, Anticonvulsants, Opioids, Others), Indication (Neuropathic Pain,
Fibromyalgia, Others), Mode of Purchase, End-User – Forecast Till 2030
The pain management market refers to the healthcare industry's efforts to
treat and manage pain experienced by patients. Pain can be caused by a variety
of conditions, including injuries, surgery, chronic diseases, and other medical
conditions. The pain management market includes pharmaceuticals, devices, and
therapies designed to alleviate pain and improve patients' quality of life.
Market Synopsis
According to
Market Research Future (MRFR), the global pain management market is predicted to acquire market value of USD 5.81 billion, growing at a
CAGR of 7.30% by 2030. The increasing demand for long-term pain management
among the geriatric population is estimated to drive the global pain management
market 2020. The growing number of patients battling chronic neuromuscular
diseases, along with the increasing pain rehabilitation center, is projected to
augment the market substantially in the forthcoming period. Further, the
aftereffect of the pain medication and the large patent population base is
further projected to escalate the market substantially. Besides, the development
of novel pain management device and an established reimbursement schemes for
spinal cord stimulation (SCS) in developed countries are anticipated to
accelerate the market additionally. Moreover, the proven efficiency of pain
management devices is recognized to be another crucial factor in driving the
global market.
On the other
hand, lack of awareness, the dearth of expertise, expenses associated with
purchasing, and a lesser number of pain clinics in various countries are
estimated to hamper the global pain management market during the forecast
period. However, the increasing prevalence of diabetes and cancer,
technological advancement, along with the aforementioned factors, are predicted
to combat the hampering factors.
Market Segmentation
The segment
analysis of global pain management market size is done by type and application.
The
type-based segments of the global pain management devices are stimulators, pumps, and ablation devices. Stimulators
are further sub-segmented into neuromodulator devices and transcutaneous
electrical nerve stimulation (TENS) devices.
The
type-based segments of the global neuropathic
pain medication are cancer pain, musculoskeletal pain, migraine, and
others.
Key Players
The
established key players of the global pain management devices market are Boston Scientific Corporation (US), Baxter
International Inc. (US), Medtronic Plc (US), Bio-Medical Research (BMR) Ltd.
(UK), St. Jude Medical (US), Codman and Shurtleff, Inc. (US), Hospira Inc.
(US), Stryker Corporation (US), Smiths Medical (UK), Kimberly-Clark Corporation
(US), B. Braun Melsungen AG. (Germany) and Pain Management, Inc (US), and DJO
Global LLC (US).
Regional Analysis
Based on the
region, the global pain management devices market is segmented into North
America, Asia-Pacific, Europe, and the Middle East and Africa. As per the
analysis, North America is estimated to procure the largest market share owing
to its high per capita income. Further, the region has a sufficient budget
allotted for research and development, along with the fast adoption of
technology in the region, which is predicted to accelerate the demand
substantially during the forecast period. In addition, government initiatives,
rising awareness among people are projected to drive the regional market
additionally.
Europe is
anticipated to acquire the second largest market share owing to the rise in the
geriatric population. Further, the technical development in the region is
further accelerating the demand. Germany is estimated to dominate the European
market by procuring the largest market share in the region.
However, the
APAC region is anticipated to be the fastest-growing region owing to the
increasing demand for these devices. The rapid development of healthcare
infrastructure in developing countries such as India, Japan, and China is
making a substantial contribution to strengthening the market during the
forecast period. Further, the developing regions are witnessing a rise in
disposable income, leading to the expansion of the regional market.
The MEA
region is estimated to witness a sluggish growth owing to the presence of poor
socio-economic situation. However, the increasing awareness regarding health,
and the rising imports are likely to augment the regional market during the
forecast period.
At
Market Research Future (MRFR), we enable our customers to unravel the
complexity of various industries through our Cooked Research Report (CRR),
Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme
objective to provide the optimum quality market research and intelligence
services to our clients.
Contact
us:
Market
Research Future (part of Wantstats Research and Media Private Limited),
99
Hudson Street, 5Th Floor,
New
York, New York 10013
United
States of America
+1 628
258 0071
Email:
sales@marketresearchfuture.com
0 Comments