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The increasing prevalence of chronic pain and the shift from pharmaceuticals to devices are propelling the growth of the market, for instance, according to data from the U.S. Pain Foundation published in August 2023, nearly 21% of the U.S. population about 51.6 million adults suffer from chronic pain, defined as pain lasting over three months. Among them, 17.1 million experience high-impact chronic pain that significantly limits their ability to work or engage in daily activities. This rising prevalence is boosting the demand for pain management devices.
Furthermore, advancements in pain management devices are also propelling market expansion. Notably, the integration of wearable devices and biofeedback mechanisms represents a promising development. Additionally, concerns about opioid addiction have greatly impacted the search for non-opioid pain management devices.
However, the high cost of pain management devices, lack of awareness, and limited access to pain management devices are hindering the growth of the market. The initial cost of purchasing pain management devices, along with the expenses associated with maintenance and replacement, can be a barrier for many healthcare providers and patients.
In the Asia-Pacific region, the pain management devices market is poised for significant growth, driven by the rising prevalence of chronic pain, technological advancements, and increased awareness. Additionally, government initiatives to improve healthcare systems, are supporting market expansion.
Market Segmentation:
Segmentation 1: by Type
- Ablation Devices
- Radiofrequency Ablation Devices
- Cryoablation Devices
- Ultrasound Ablation Devices
- Others
- Neurostimulation Devices
- Transcutaneous Electrical Nerve Stimulator
- Spinal Cord Stimulators
- Others
- Infusion Pumps
Segmentation 2: by Application
- Neuropathic Pain
- Musculoskeletal Pain
- Others
Segmentation 3: by End User
- Hospitals and Clinics
- Homecare Settings
- Others
Segmentation 4: by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
How can this report add value to an organization?
Product/Innovation Strategy: This report provides a comprehensive product/innovation strategy for the global pain management devices market, identifying opportunities for market entry, technology adoption, and sustainable growth. It offers actionable insights, helping organizations gain a competitive edge, and capitalize on the increasing demand.Growth/Marketing Strategy: This report offers a comprehensive growth and marketing strategy designed specifically for the pain management devices market. It presents a targeted approach to identifying specialized market segments, establishing a competitive advantage, and implementing creative marketing initiatives aimed at optimizing market share and financial performance. By harnessing these strategic recommendations, organizations can elevate their market presence, seize emerging prospects, and efficiently propel revenue expansion.
Competitive Strategy: This report crafts a strong competitive strategy tailored to the pain management devices market. It evaluates market rivals, suggests methods to stand out, and offers guidance for maintaining a competitive edge. By adhering to these strategic directives, companies can position themselves effectively in the face of market competition, ensuring sustained prosperity and profitability.
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Table of Contents
Companies Mentioned
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic, plc
- Nevro Corporation
- Baxter
- OMRON Healthcare, Inc.
- Stryker Corporation
- Teleflex Incorporated
- ICU Medical
- AtriCure
- Zynex