DUBLIN--(BUSINESS WIRE)--The "Pain Management Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type; Application; and Geography" report has been added to ResearchAndMarkets.com's offering.
The global pain management devices market is expected to reach US$ 8,388.67 million in 2027 from US$ 4,527.31 million in 2019. The market is estimated to grow with a CAGR of 8.1% from 2020 to 2027.
Increasing chronic pain incidences, rising product launches and growing geriatric population are the major factors driving the growth of the pain management devices market. However, lack of awareness regarding pain management is likely to restrict the growth of the pain management devices market during the forecast period.
Growing geriatric population across the world is demanding for new pain management therapies. Chronic Pain increases with age, and it continues to rise after 65 years of age. The majority of older people live with chronic pain, resulting in reduced strength to carry out their daily routine. The geriatric population widely suffers from bone and joint disorders, arthritis, cancer, and other chronic disorders associated with pain. Therefore, the demand for pain management devices is higher among the geriatric population.
Increasing geriatric population is a significant factor which is creating a significant demand for pain management devices, which in turn is driving the growth of the market. According to the World Health Organization's (WHO) data of February 2018, the geriatric population is likely to double. It is estimated that by 2050, the growth of the geriatric population will grow by 22% from 12% in 2015. The data has also determined that nearly 80% of the geriatric population will grow in the low and middle income countries.
The global pain management devices market is segmented by product type, and application. Based on type, the pain management devices market is segmented into neuromodulation devices, ablation devices, and analgesic infusion pumps. The neuromodulation devices segment held the largest share of the market in 2019 and analgesic infusion pumps is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the pain management devices market has been segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others. The neuropathic pain segment held the largest share of the market in 2019. Whereas, musculoskeletal pain segment is estimated to register the highest CAGR in the market during the forecast period.
Key Topics Covered:
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
2. Pain Management Devices Market - Key Takeaways
3. Research Methodology
4. Global Pain Management Devices Market- Market Landscape
4.2 PEST Analysis
4.3 Expert Opinion
5. Pain Management Devices Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Chronic Pain Incidences
5.1.2 Rising Product Launches
5.1.3 Growing Geriatric Population
5.2 Market Restraints
5.2.1 Lack of Awareness Regarding Pain Management
5.2.2 High Cost of Pain Management Devices
5.3.1 Growth Opportunities for Neurostimulation Devices
5.4.1 Technological Advancement
5.5 Impact Analysis
6. Pain Management Devices Market- Global Analysis
6.1 Global Pain Management Devices Market Revenue Forecast and Analysis
6.2 Global Pain Management Devices Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Pain Management Devices Market Analysis - By Product Type
7.2 Pain Management Devices Market Share, by Product Type, 2019 and 2027 (%)
7.3 Neuromodulation Devices
7.3.2 Neuromodulation Devices: Pain Management Devices Market- Revenue and Forecast to 2027 (US$ Million)
7.3.3 Transcutaneous Electrical Nerve Stimulation (TENS) Devices
7.3.4 Spinal Cord Stimulation (SCS) Devices
7.4 Ablation Devices
7.4.2 Ablation Devices: Pain Management Devices Market- Revenue and Forecast to 2027 (US$ Million)
7.4.3 Radiofrequency Ablation Devices
7.4.4 Cryoablation Devices
7.5 Analgesic Infusion Pumps
7.5.2 Analgesic Infusion Pumps: Pain Management Devices Market- Revenue and Forecast to 2027 (US$ Million)
7.5.3 Intrathecal Infusion Pumps
7.5.4 External Infusion Pumps
8. Pain Management Devices Market Analysis - By Application
8.2 Pain Management Devices Market Share, by Application, 2019 and 2027 (%)
8.3 Neuropathic Pain
8.4 Facial Pain and Migraine
8.5 Musculoskeletal Pain
8.6 Cancer Pain
9. Pain Management Devices Market - Geographic Analysis
10. Impact of COVID-19 Pandemic on Global Pain Management Devices Market
11. Pain Management Devices Market - Industry Landscape
11.2 Growth Strategies Done by the Companies in the Market, (%)
11.3 Organic Developments
11.4 Inorganic Developments
12. Pain Management Devices Market Company Profiles
12.1 Key Facts
12.2 Business Description
12.3 Products and Services
12.4 Financial Overview
12.5 SWOT Analysis
12.6 Key Developments
- Medtronic plc
- Boston Scientific Corporation
- Hospira Inc.
- Halyard Health Inc
- Smiths Medical
- B. Braun Melsungen AG
- Neurotech NA Inc.
- Nevro Corp
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