Pain Management Devices Market

The global Pain Management Devices market is projected to reach USD 5,835.8 million by 2029 from USD 3,768.6 million in 2024, at a CAGR of 9.1% during the forecast period.

The global upsurge in prevalence of chronic pain conditions, growth in geriatric populations, home care preference, favourable reimbursement scenario to improve the access of pain management devices, rising technological advancements and new product launches by key players are anticipated to propel the pain management devices market growth during the forecast period. However, increasing product recalls and high procedural cost become barriers to growth of pain management devices among healthcare providers and patients. Additionally, stringent regulatory requirements and use of pain medication as first line treatment option pose a significant challenge to market players.

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Some of the   prominent players operating in the market include include Medtronic  (Ireland), Boston Scientific  Corporation(US), Abbott Laboratories (US), Stryker (US), Nevro Corp. (US),  Becton, Dickinson and Company (US), Baxter (US), B. Braun SE  (Germany), Omron Corporation (Japan), Avanos Medical, Inc. (US), Teleflex Incorporated (US),ICU Medical, Inc. (US), Nipro (Japan), Moog  Inc. (US), Atricure, Inc. (US), Micrel Medical Devices SA (Greece), Zynex, Inc.(US),  and Enovis Corporation (US).

MEDTRONIC  (IRELAND)

Medtronic is the leading key player in the global pain management devices market in 2023. The company’s leading position can be attributed to its wide portfolio with a range of advanced solutions including neuromodulation devices, and infusion pumps. The company operates in the US, Europe, and the Asia Pacific. Medtronic’s strong market position is bolstered by its commitment to innovation, significant investment in research and development, and adherence to rigorous clinical and regulatory standards, ensuring effective and reliable pain management solutions The company also focuses on organic as well as inorganic growth strategies to gain a competitive edge.

BOSTON SCIENTIFIC CORPORATION (US)

Boston Scientific is a major force in the pain management devices market, distinguished by its advanced spinal cord stimulators and radiofrequency ablation technologies. The company provides neuromodulation products such as rechargeable spinal cord stimulators and microstimulators for managing neuropathic pain. Boston Scientific’s geographic presence strategy focuses on global expansion and market adaptation. The company targets major and emerging markets across North America, Europe, Asia-Pacific, and Latin America, customizing its products to meet regional needs and regulatory requirements. Their global network includes state-of-the-art manufacturing and R&D facilities, which facilitate rapid innovation and efficient distribution.

ABBOTT LABORTORIES (US)

Abbott Laboratories is a major player in the market for pain management devices, including cutting-edge neurostimulation and spinal cord stimulation systems. Their Proclaim line of medical devices offers customized treatment plans together with cutting-edge BurstDR technology for improved pain management. Abbott's focus on patient-centered treatment and its commitment to research and development ensure that its products are advanced and highly effective in clinical settings. Abbott continues to be a pioneer in providing reliable and effective pain management devices, with a strong emphasis on stringent clinical trials and regulatory requirements.

Related Reports:

Pain Management Devices Market by Type (Neurostimulation, Infusion Pump, Ablation), Application (Neuropathic, Musculoskeletal, Cancer pain), Mode of Purchase (Prescription, OTC), By End user (Hospital, Physiotherapy, Home care) - Global Forecast to 2029

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