2022-2028 Will Be A Period Of Growth Opportunities For Pain Management Devices!

Pain is an uncomfortable sensation experience. Pain occurs due to damage in tissues. Chronic pains cause to stay longer in our body than acute pains. The first line of pain treatment is medications.

Decades have passed by, medications are consumed to gain relief from pain, even doctors recommend it because of their effectiveness, cheaper rate, and easily available.

But it comes with drawbacks of several side effects, causing other minor and severe health complications.

WHO witnessed a rise of chronic disease by 57% till the year 2020, assuming it will rise further. This enhances a growth opportunity for pain management devices. 

Pain Management Device Market

Pain management devices are available in various forms Neurostimulation, electric stimulation, infusion pumps, spinal cord stimulators, etc. these devices aim with the only objective to eliminate pain from our body.

This technology work by activating stimulators to block or stimulate the nerves with the help of electric impulses that are responsible for receiving signals of pain in the brain. The working theory of these devices is almost similar except for the device placement.

The global market of pain management devices is currently estimated at $2.2 billion and is expected to grow at a healthy rate of 6.3% between 2022- 2028. Its estimated value at $5.7 billion at the end of 2028. Due to rapid growth and demand, the product could expand from the estimated value.

The global market of pain management devices is expected to grow enormously due to the increasing population and many countries have evaluated that rapid growth in chronic diseases such as cancer, diabetes, and other heart complications.

These pain management devices are widely applied in physiotherapy centers, hospitals, and clinics. The surging rise of fast foods and soft drinks is leading the global population to the den of chronic disease. This subsequently leads to high demand for pain management devices all over the globe. 

Further technological advancement and awareness campaigns for pain management devices will boost the image and the market value.

Growth Opportunities For Pain Management Devices In The Near Future

The technological advancement of medical devices and improving infrastructure capture a lot of opportunities in this segment of the industry.

As the number of chronic patients increases, the demand for these pain management devices will increase, creating opportunities in various jobs and providing investors and philatelists to implement new ideas and innovative ways to maintain the growth stability of these devices.

The developments to be brought in pain management devices also relieve the patients much more efficiently. This technology will also allow medical experts to widen the research field in neurotechnology for further advancements of these devices.

Market Segmentation Of Pain Management Devices

The analysis of global market segmentation is divided by product, application, end-user, and region

Market Segmentation By Product

• The products include an Electric stimulation device, RF ablation device, Neuro modulation devices, and infusion pumps.
• Among these four Neuro modulation devices have been dominating the market for the past few years, with electric stimulation devices in second, following infusion pumps and RF ablation devices

Market Segmentation By Application

• The application is performed by different applications which include Musculoskeletal, Brain, Cancer, Neuropathy, and other chronic health complications.
• The pain management device is widely dominated by neuropathy applications due to a rise in neurological disorders. The surge in neuropathic pain demands these devices, especially neuromodulation devices.
• The domination of neuromodulation devices and neuropathy applications is not coincidental, it is evident that the rise in neuropathic disorders led to the domination of these in the pain management device market.

Market segmentation By End-user

• The pain management devices are supplied to and effectively functioning in Hospitals, clinics, physiotherapy centers, and others such as dispensaries.
• It’s evident that physiotherapy centers will lead in the global market because it mainly deals with bone pain-related treatments. Physiotherapy centers widely adopt numerous pain management devices for treatments.

Market Segmentation By Region

• North America dominates the largest segment of pain management devices by region. Pain management devices are highly implemented in north America to their advanced health technologies and medical infrastructures.
• Europe and Asia pacific regions are widely capturing the growth of pain management devices. Due to many factors including the rising of hospitals, advanced medical infrastructure, presence of a large number of patients, high incomes, and a surge of leading manufacturers and key market players driving the market of pain management devices into this region