The global Pain Management Devices Market Growth Accelerated by Advanced Devices in Pain Management

Pain management devices provide advanced and effective treatment options for pain relief. With technological advancements, new devices offer targeted pain relief through drug delivery, neuromodulation, and physical therapy modalities.

The global Pain Management Devices Market is estimated to be valued at US$ 4,280.9 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Advanced neuromodulation devices for chronic pain have seen increasing adoption in recent years. Devices such as neurostimulators and intrathecal pumps modulate the nervous system and disrupt pain signals, providing effective relief even for severe chronic pain conditions. They allow personalized treatment through adjustable settings controlled by patients remotely. Ongoing technological advancements are further enhancing the efficacy and convenience of neuromodulation therapies. This has significantly driven the demand for neuromodulation devices, contributing notably to the growth of the overall pain management devices market.

Segment Analysis
The pain management devices market is dominated by the electrotherapy devices segment. This segment held around 30% of the total market share in 2023 due to the various advantages offered by these devices such as non-invasiveness, portability, and effectiveness in treating different types of pains. Some of the commonly used electrotherapy devices are TENS (transcutaneous electrical nerve stimulation) devices, neuromuscular electrical stimulation devices, and combination devices.

Key Takeaways
The global pain management devices market is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to rise at a CAGR of 6.5% during this period and reach a value of US$ 4,280.9 Mn by 2023.

Regional analysis
North America currently dominates the pain management devices market and is expected to continue its dominance in the coming years. The presence of advanced healthcare facilities and favorable reimbursement policies are some major factors responsible for the growth of the market in the region. Asia Pacific is expected to witness the fastest growth during the forecast period owing to rising healthcare expenditures, increasing awareness regarding advanced pain treatment options, and growing geriatric population in countries like China and India.

Key players
Key players operating in the pain management devices market are Stryker Corporation, Pfizer Inc. (Hospira Inc.), Medtronic Plc, Boston Scientific Corporation, Baxter International Inc., Braun Melsungen AG, Abbott Laboratories, Colfax Corporation (Djo Global LLC), Kimberly-Clark Corporation (Baylis Medical), Johnson & Johnson (Codman and Shurtleff, Inc.), Neuspera Medical, ZetrOZ Systems, Therabody, BioElectronics Corporation, Nevro Corp, Stevanato Group S.p.A., Bexson Biomedical, Inc., SPR Therapeutics, Lumaflex, Saluda Medical Pty Limited, DyAnsys Inc., Pacira BioSciences, Inc., InterSystems, Nalu Medical, Inc., and StimaWELL North America Inc.

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