Press Release

At 9.4% CAGR, Pain Management Devices Market Size to Reach US$ 8,046.3 Mn by 2026

Pain Management Devices Market by Top Players are Medtronic, Boston Scientific Corporation, LivaNova, Abbott, DJO Global LLC

The Global Pain Management Devices Market will benefit from increasing regulatory approvals for Pain Management Devices Market neuromodulation devices in recent years. According to a report published by Fortune Business Insights, titled “Pain Management Devices: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 3,922.9 Mn in 2018. Fortune Business Insights states that the market will reach US$ 8,046.3 Mn by 2026, exhibiting a CAGR of 9.4%.

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Some of the Main Key Players Covered in the Report:

  • Medtronic
  • Boston Scientific Corporation
  • LivaNova
  • Abbott
  • DJO Global LLC
  • SPR Therapeutics
  • Nevro Corp

Recent technological advancements have opened up a huge market growth potential. The report encompasses several factors that have contributed to the growth of the global pain management devices industry. Besides this, the report includes a few of the factors that have acted as a barrier to market growth and signifies the market strategies adopted by leading companies, specifically aimed at overcoming these barriers.

Browse Complete Report Details @ https://www.fortunebusinessinsights.com/industry-reports/pain-management-devices-market-101069

Pain management devices aid in reducing chronic pain and other undesirable conditions. Pain management can be used as an alternative to surgery to improve the result of your medication. This allows a non-invasive platform for surgical procedures, which in turn will lead to an increase in the global market value.

Segmentation:

By Product Type

  • Electrical Stimulation Devices
  • RF Ablation Devices
  • Neuromodulation Devices
  • Infusion Pumps

By Application

  • Musculoskeletal
  • Brain
  • Cancer
  • Neuropathy

By End User

  • Physiotherapy Centers
  • Hospitals and Clinics

By Geography

  • North America
  • Europe
  • Asia Pacific

35% Rise in Regulatory Approvals for Pain Management Device Indicates a Huge Potential for Growth in the Foreseeable Future

As the benefits of pain management devices have been unfolded in recent years, there has been an increase in adoption for these devices across the world. Resulting from the increasing demand for pain management devices, there has been a gradual increase in clinical approvals for these devices in recent years.

According to the International Neuromodulation Society, the total number of approvals for neuromodulation devices from the Food and Drug Administration increased by approximately 35% in the past decade. Fortune Business Insights states that the growing usage approvals will favour the growth of the global pain management devices market in the forthcoming years.

Launch of Technologically Advanced Pain Management Devices Likely to Enable Market Growth

Technological advancements in pain management devices have played a huge part in the overall pain management market growth in recent years. Several companies have launched products with better feasibility and high operational efficacy. In January 2019, Boston Scientific announced the launch of an advanced chronic pain management device, which has been identified as one of the very few devices in the market with the ability to combine paresthesia and sub-perception therapy.

The ‘Spectra WaveWriter SCS System’ was launched with the aim of offering a non-drug therapeutic approach for people suffering from chronic pain. The report encompasses product launches, similar to Boston Scientific’s latest device and signifies the importance and impact of such devices on the global pain management devices industry.

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