Latest News- Pain Management Devices Market: Neuropathic pain is expected to lead the Application segment during 2024-2028

The Pain Management Devices Market is being driven by Increasing prevalence of chronic diseases among geriatric population

The Pain Management Devices Market is expected to grow at a CAGR of 9.45% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3113.9 million. In the pain management devices market, ablation technology has emerged as a significant solution for managing chronic pain. Ablation involves disrupting the transmission of pain signals by removing or destroying a portion of nerve tissue. Advanced ablation devices, such as Medtronic's Cool-tip radiofrequency (RF) ablation system E series, offer enhanced performance with larger ablation target zones and shorter procedure times. Vendors are investing heavily in research and development to introduce technologically superior ablation devices, aiming to expand their market share and revenue. These innovations are crucial in improving patient outcomes and offering effective pain management solutions. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Neuropathic pain
  • Musculoskeletal disorder
  • Cancer
  • Facial and migraine
  • Others
• Product
  • Neurostimulation devices
  • Infusion pumps
  • Ablation devices
• Product Type
  • Chronic Pain
  • Post-Surgical Pain
  • Cancer Pain
  • Neuropathic Pain
• End-User
  • Hospitals
  • Clinics
  • Home Care
• Technology
  • Wearable Devices
  • Implantable Devices
  • Non-Invasive Devices
• Geography
  • North America
    • Canada
    • US
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of chronic diseases among geriatric population
• Growing demand for drug-free therapy
• Increasing number of initiatives and improvements in healthcare industry

However, the market also witnesses some limitations, which are as follows:

• High cost of neurostimulation devices and procedures
• Regulatory challenges associated with pain management devices
• Hypersensitivity reactions and postoperative infections caused due to use of pain management devices

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Market Scope in Pain Management Devices Market Research Report

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Research Analysis Overview

The Pain Management Devices Market encompasses electrode placement, pulse generators, lead wires, and implantable batteries, with a focus on enhancing device longevity and minimizing adverse events through advanced surgical techniques and implantation procedures. Device programming, remote monitoring, data analytics, and efficacy studies are essential for ensuring safety and regulatory approvals. Cost-effectiveness analysis, healthcare economics, personalized medicine, AI, machine learning, genetic testing, and clinical trials are crucial for optimizing outcomes and addressing drug interactions, side effects, long-term effects, patient compliance, and healthcare provider training. Post-market surveillance is ongoing to ensure continued safety and effectiveness.

Market Research Overview

The Pain Management Devices Market is a significant segment of the global Healthcare Equipment Market, encompassing drug delivery systems, implantable pain pumps, and neuromodulation devices. According to Technavio, the Healthcare Equipment Market is characterized by manufacturers of diagnostic equipment and devices used in various therapy areas. This market is valued based on the combined revenue generated by these companies. The Devices segment, which includes advanced, differentiated, and clinically tested data-driven devices, is a key contributor to the Healthcare Equipment Market's growth. Technavio categorizes Pain Management Devices as part of this segment due to their role in the diagnosis, monitoring, and treatment of pain-related conditions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/