Pain Management Devices Market, by Type (Neuromodulation & Neurostimulation Devices, Analgesic Infusion Pumps, and Ablation Devices), By Application (Neuropathic Pain, Cancer Pain, Facial & Migraine Pain, Musculoskeletal Pain, and Others), by End User (Hospitals, Clinics, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) -

Published In : Jul 2023

Code : CMI3947

Pages :150

Formats :

Excel and PDF

Industry : Medical Devices

Pain Management Devices MarketSize and Trends

The global pain management devices market is estimated to be valued at US$ 4,280.9 million in 2023 and is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030).

Global Pain Management Devices Market– Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global pain management devices market over the forecast period. North America is estimated to hold 44.3% of the market share. According to the U.S. Centers for Disease Control and Prevention Report, the researchers found that an estimated 20.9 percent of U.S. adults experienced chronic pain during 2021, and 6.9 percent experienced high-impact chronic pain (51.6 and 17.1 million persons, respectively). Populations experiencing a higher prevalence of chronic pain and high-impact chronic pain include non-Hispanic America India or Alaska Native adults. Thus, the rise in chronic pain cases is anticipated to increase market growth over the forecast period.

Report Coverage	Details
Base Year:	2022	Market Size in 2023:	US$ 4,280.9 Mn
Historical Data for:	2018 to 2021	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	6.5%	2030 Value Projection:	US$ 6,670 Mn

Global Pain Management Devices Market- Key Trends

Integration of Artificial Intelligence can drive the growth of market

The integration of Artificial Intelligence can boost the market growth and also provides the opportunity to the researchers and the patient. Researchers can utilize AI to analyze large amounts of data and identify patterns or trends that may have otherwise been missed. Additionally, patients can benefit from AI-powered technologies that enable personalized treatment plans and improve healthcare outcomes. For instance, on March 07, 2023, Nevro Corp., a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, announced that the company has now initiated the U.S. full market launch of its HFX iQ spinal cord stimulation (SCS) system, following the completion of a successful limited market release.