According to the current analysis of Reports and Data, the global Pain Management Products Market was valued at USD 5,864.4 Million in 2020 and is expected to reach USD 10.18 Billion by the year 2028, at a CAGR of 7.1%. Management of ache by stimulating the nerve is an alternative to surgery and medication or a way to improve the outcome of surgery or medication. Electrical stimulation can be used at home and in therapy to monitor and reduce ache in many areas of the body. Devices such as analgesia infusion pumps, transcutaneous electrical nerve stimulators, radiofrequency ablators, and neuro-stimulators are several types of Pain Management Products. The target market is anticipated to witness strong growth due to advancements in wearable Pain Management Products, chronic ache issues.

The demand for radiofrequency ablation devices and other pain management electrical devices is expected to rise due to an increase in chronic ache conditions as well as the rising geriatric population globally. Other factors such as the high effectiveness of ache management tools for chronic ache, increased incidence of lifestyle-related chronic diseases, increased geriatric population, and the long-term demand for effective pain management solutions will propel the growth of this industry. However, the low awareness levels among people for Pain Management Products and the lack or absence of skilled physicians is anticipated to impede the growth of the industry.

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Further key findings from the report suggest

• Ablation Devices product type segment is expected to grow with a CAGR of 7.8% during the forecast period. Electrical Stimulators remains the chief revenue generating product segment in global Pain Management Device market.
• The lack of awareness about the presence and accuracy of invasive, non-invasive or minimally invasive medical tools for ache relief or management in the past caused an increase number of chronic ache cases, which deteriorated due to the ache been untreated.
• Cryotherapy is the standard practice in see-and-treat services in middle and low-income countries for treating patients with cervical precancer. However, due to logistical difficulties with cryotherapy (e.g. cost, necessity, and supply chain difficulties of refrigerant gas; duration of treatment and failure of equipment), a portable and lightweight battery-operated thermal ablator has been developed.
• Minimally invasive neurostimulators provide directly selected nerve fibers with significantly low-level electrical signals. Stimulating these nerve fibers removes the signals of ache sent to the brain and replaces the ache with a feeling of tingling.
• BioElectronics Corporation, a leading company in this domain, launched a product called ActiPatch in 2016 which has application in the treatment of prolonged pain from rheumatoid arthritis, osteoarthritis, shingles, sports injuries, fibromyalgia, neuropathy, and post-surgical pain. Also, people using ActiPatch do not have the sensation of any heat, vibration or tingling unlike other products in the market, according to Ken McLeod, Director of Clinical Science and Engineering at Binghamton University.
• Reduced costs and increased reliability on Pain Management Products has allowed the target market to flourish in healthcare applications for various chronic medical conditions.
• North America remains the major revenue generating geographical segment in Pain Management Device market. The geographical segment accounted for USD 2.18 billion in 2020. In line with this availability of research funding from private and public sources, availability of state-of-art technologies, presence of key market players in the region, favorable reimbursements, rising focus on effective ache managing medical tools, and rising awareness about the same, are among the key factors driving the market growth for Pain Management Device in this region.

Key Players covered in this report are

St. Jude Medical, Inc. (subsidiary of Abbott), Medtronic, Boston Scientific Corporation, Hospira, Inc. (subsidiary of Pfizer Inc.), B. Braun Melsungen AG, Smiths Medical, Halyard Health, Inc., Nevro Corp., and Bio-Medical Research Ltd among others.

Product Outlook (Revenue in Million USD; 2020–2028)

• Electrical Stimulators
  • Transcutaneous Electrical Nerve Stimulators (TENS)
  • Trigeminal Nerve Stimulation (TNS)
  • Transcranial Magnetic Stimulation
  • Combination Devices
  • Others
• Ablation Devices
  • Cryoablation Devices
  • Radiofrequency Ablation Devices
  • Epicardial Ablation
• Analgesics Infusion Pumps
  • Intrathecal Infusion Pumps
  • External Infusion Pumps
• Neurostimulation
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Neurostimulators
  • Others

Application Outlook (Revenue in Million USD; 2020–2028)

• Cancer
• Neuropathic Pain
• Facial & Migraine
• Musculoskeletal Disorders
• Trauma

End User Outlook (Revenue in Million USD; 2020–2028)

• Physiotherapy Centers
• Hospitals and Clinics
• Ambulatory Surgical Centers

Based on Region market is segmented into:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Major Points covered in this report are as below:

• An analysis of Pain Management Products industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.

• In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.

• In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.

• This report provides information on the market status of Pain Management Products manufacturers and provides valuable insight into the market for companies and individuals.

We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

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