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NON INVASIVE PAIN MANAGEMENT DEVICES MARKET ANALYSIS

Non-invasive Pain Management Devices Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

  • To Be Published : Nov 2024
  • Code : CMI106
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Leading Companies

Highly fragmented market with significant growth opportunities still on offer The global non-invasive pain management devices market is highly fragmented, owing to the participation of many established and emerging players. Companies are inclined towards introducing new user-friendly applications to diagnose various symptoms of chronic pain. For example, Pfizer Inc. is focusing on efforts to build a mobile application to detect chronic pain and is expected to launch the version in 2017. Furthermore, major players involved in the non-invasive pain management devices market are Iskra Medical d.o.o, ActivLife Technologies Pty Ltd, Chattanooga International, Zynex Medical, I-Tech Medical Division, and MediHighTec.

Key Developments

Increasing number of product approvals for non-invasive pain management devices is expected to drive the market growth over the forecast period. For instance, in 2017, the U.S. Food and Drug Administration (FDA) cleared Xavant Technology’s noninvasive neuromodulation device called Stimpod NMS460, which is designed to provide relief from chronic intractable pain.

Moreover, continuous research and analysis of non-invasive pain treatment devices is expected to generate considerable demand and adoption of these devices. In April 2019, researchers from the University of Rome Tor Vergata, Rome, Italy reviewed the efficacy of the Scrambler therapy (ST), which is an electro-analgesia therapy for noninvasive treatment of chronic neuropathic and cancer pain. The review was aimed at clarifying the underlying mechanisms of the therapy, and create awareness regarding its appropriate usage to increase its effectiveness.

Key players in the market are also engaged in raising funding for marketing and launching their products. In July 2019, Tivic Health Systems, maker of a commercial sinus pain relief device, announced that the company had raised $8 million in seed funding. The company announced that it will utilize this funding to market the launch of its ClearUP device.

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