pain management devices Market was worth USD 3395 million in 2021. It is expected to grow at an 8.49% CAGR between 2022 and 2030.

NEW YORK CITY, NEW YORK, UNITED STATES, January 12, 2023 /EINPresswire.com/ -- ◘ Market for Pain Management Devices: Size and Forecast

The market for pain management devices market was worth USD 3395 million in 2021. It is expected to grow at an 8.49% CAGR between 2022 and 2030.

◘ Global Pain Management Devices Market Overview

There are several growth factors for this market, including rising demand for chronic pain management in home care settings, growing prevalence of neurological disorders and growing incidence of cancer. Additionally, there is a established reimbursement scenario for spinal cord stimulation (SCS), devices in developed nations. Over the past few years, there has been an increase in the number and complexity of all surgical procedures. This is due to an increasing elderly population as well as obesity and other lifestyle disorders. Obesity is a leading cause of orthopedic and cardiovascular disease.

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Infusion pumps are used primarily for pain control and analgesia. Infusion pumps are also used to deliver narcotics analgesics or anesthetics locally following bariatric surgery and cardiothoracic surgery. Infusion pumps can be used to treat post-operative pain following a wide range of orthopedic procedures, such as spine surgery, major joint surgeries, and foot/lower extremity operations. The 2016 National Spinal Cord Injury Statistical Center datasheet shows that the US has approximately 54 cases of spinal cord injury per million, or about 17,000 new cases each year.

Key Market Players included in the report:

➟ Boston Scientific Corporation
➟ B. Braun Melsungen AG
➟ Medtronic
➟ Bio-Medical Research (BMR) Ltd.
➟ Nevro Corp.
➟ Codman & Shurtleff, Inc.
➟ DJO Global, Inc.
➟ Halyard Health
➟ Hospira (Pfizer)
➟ Medtronic
➟ St. Jude Medical
➟ Smiths Medical
➟ Stryker Corporation

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◘ Growth Factors

Pain management is a branch of medicine that seeks to relieve the suffering of chronic pain patients. Acute pain is immediate and can be treated quickly, while chronic pain takes longer to resolve and requires treatment. Pain management devices are medical devices that treat a variety of types of pain such as cancer pain, neuropathic and musculoskeletal.

There are many types of pain management devices on the market. These include analgesic injection pumps, spinal cord stimulators and neurostimulation device, as well as analgesic ablation devices. The market for pain management devices is expected to grow due to the increasing geriatric population, increased awareness of pain management devices by consumers, increased prevalence of chronic pain, new products being launched, and increased research and developments (R&D).

Other factors contributing to the growth of the pain management device market include an increase in pain management devices used for chronic pain treatment and an increase in demand for pain management products in emerging countries.

◘ Growth drivers: Increasing number of operative procedures

There has been an increase in the number and complexity of global surgical procedures over the years. This is due to the increasing geriatric population as well as the rise in obesity and other lifestyle diseases. Obesity is a major cause of orthopedic and cardiovascular disease.

Post-operative pain management in many orthopedic surgeries, such as the spine, can be managed with PCA pumps. surgeries, and in major joint and lower extremity surgery. The National Spinal Cord Injury Statistical Center 2016 datasheet, the annual incidence for spinal cord injury Injuries (SCI), approximately 54 per million people in the US, or about 17,000 Each year, new SCI cases are added. The NCBI estimates that there are more than 51,000,000 inpatients undergoing a surgical procedure. Annual procedures are performed in the US, where approximately 90% of all hospitalized patients are located. Patients receive medication via IV. The number of operations performed has increased. Infusion therapy will continue to be in demand.

◘ Key Market Segments

◘ Type

➟ Electrical Stimulation Devices
➟ Radiofrequency Ablation Devices
➟ Neurostimulation Devices
➟ Others

◘ Application

➟ Neuropathic Pain
➟ Cancer Pain
➟ Facial & Migraine Pain
➟ Musculoskeletal Pain
➟ Trauma

◘ Purchase Detail Report: https://market.us/purchase-report/?report_id=33453

◘ Recalls of products subject to restraint

These devices can be used to administer neurostimulators, critical fluids and pain management. These devices can be dangerous for patients and even cause death if they are not used correctly. According to the Institute of Medicine (US), around 1.5 million patients experience medication errors each year that cost USD 8,750 per Potential Adverse Drug Events (PADE).

The FDA has highlighted errors in drug administration in the last five years by naming infusion pumps on its Top 10 list for health technology hazards. Manufacturers are concerned about the potential for recalls of these devices due to safety or efficacy issues. This could have a significant impact on sales of pain management products. Manufacturers are required to recall defective devices and to compensate for injuries sustained in these mishaps. Product recalls have a negative impact on the growth of overall pain management devices markets.

◘ Global Pain Management Devices Market Trends:

The global pain management device market is expected to grow due to technological advancements in pain management. In April 2022, Abbott launched Neurosphere myPath, an app that tracks chronic pain and provides information about it. This app tracks and reports on pain relief experienced by patients following spinal cord stimulation or dorsal roots ganglion therapy with Abbott's Proclaim devices.

Market players are expected to launch new products frequently, which will drive global growth in the pain management device market. In August 2020, Olinvyk (oliceridine) was approved by the U.S. Food and Drug Administration. This opioid agonist is used to manage moderate to severe acute pain in adults. It can be used in cases where the pain is severe enough that intravenous opioids are required and other treatments are ineffective. Olinvyk can be used in hospital or controlled clinical settings for short-term intravenous administration.

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