Product ID: SQMIG35A2502
Report ID:
SQMIG35A2502 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|
Tables:
67 |
Figures:
75
Global Pain Management Devices Market size was valued at around USD 7.0 billion in 2022 and is expected to rise from USD 7.65 billion in 2023 to reach a value of USD 15.58 billion by 2031, at a CAGR of 9.3% over the forecast period (2024–2031).
The rising incidence of chronic diseases is one of the major factors anticipated to fuel market expansion over the forecast period. Muscle and nerve stimulators are in greater demand due to the rising prevalence of lifestyle diseases including diabetes and obesity. Another significant aspect that could fuel market expansion is the rising incidence of trauma or hypertension. A brain aneurysm and other chronic illnesses are also considerably increased by hypertension.
The spread of the risky coronavirus has economic ramifications for almost every industry, including the one that makes medical devices. The state-wide lockout has affected patients who rely heavily on physical therapy or exercise regimens for pain management. Furthermore, a lot of elective surgeries and in-person patient visits have been postponed or canceled, which is anticipated to increase demand for at-home pain management. Omron expanded its current line of drug-free pain management devices in April 2020 by adding the new Focus TENS Therapy device for the knee. Over the projection period, the number of cancer cases is anticipated to increase further, driving up demand.
In addition, the prevalence of musculoskeletal conditions such arthritis, osteoarthritis, orthopedic degenerative illnesses, and rheumatoid arthritis is rising sharply. Chronic discomfort and the inability to perform daily tasks have become more common in these persons as a result. For instance, the CDC estimates that over 24.5% of American adults had arthritis in 2020, making it the most common cause of job incapacity. To manage chronic pain, this has increased the demand for pain management stimulators. In addition, nearly 32.5 million Americans were expected to have osteoarthritis in 2020. Furthermore, it is projected that technical developments will fuel the market even more. The company's portfolio would dramatically increase as a result. Boston Scientific Corp. completed the acquisition of Baylis Medical Company, Inc. in February 2022.
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Product ID: SQMIG35A2502