Pain Management Market Status, Growth Opportunities, Top Key Players, Target Audience and Forecast to 2027
Research Reports
May 24, 2022
Market Overview
The pain management market is going to be visible over an estimated time frame of 7 years, that is, 2020–2027. As the market report says, the pain management market will rise at a CAGR of 4.50% in the duration given above.
At the time, the pain management market was estimated to be an $85,300 million market.
At this time, the medical industry is getting bigger day by day. In this market, the pain has been one of the most common and constant issues faced by the majority. This is one reason why the pain management industry is going to be a huge deal in the future. To take an example, a non-invasive neuromodulator, Stimpod NMS460, came onto the market by Xavant technology in August 2017 and got FDA approval. It treats the ongoing aggravation of the disease.
Some factors that are driving the pain management market rapidly are the commonness of malignancy torment, the geriatric populace, neglected clinical necessities, the rising rivalry between market players, etc. One thing that needs to be given focus, is the expanding number of surgeries. This is the reason that is going to support the pain management market enormously.
Additionally, the rate of chronic diseases, the development of medical care, and the awareness of the security and suitability of gadgets are all factors supporting the market. The COVID-19 pandemic has affected the pain management market to a great extent. According to the Indian Journal of Anesthesia 2020, it has adversely affected the pain centers.
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Segmentation
- Types of pain management devices
The pain management market has devices known as neurostimulation devices, pain-relieving mixtures, and removal gadgets.
- Types of pain management drugs.
The drugs in the pain management market are NSAIDs, sedatives, narcotics, anticonvulsants, anti-depressants, anti-migraine specialists, etc.
- By way of indication
The indication market includes neuropathic torment, facial agony and headache, disease torment, fibromyalgia, joint torment, post-use torment, etc.
- By mode of purchase
It includes counter and solution-based management.
- By end-user
It has been classified by drug organizations, emergency clinics, clinical gadget organizations, educational establishments, etc.
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Regional Classification
Americans are highly aggravated by the predominance of ongoing agony, very much created innovation, high medical care consumption, and strong market players. According to the investigation published in the Drug and Alcohol Dependence Journal in 2017, 100 million Americans suffer from persistent agony and migraines. This is a condition that is easily analyzed amongst them. These issues are most frequent in women (34.3%).
After America, the 2nd position for the torment issues in the executive market goes to Europe. The expanding commitments and rivalry amongst the advertisers will take the European market to aggravation.
Key Players
Abbott Laboratories, Abbvie, Allergan, Astellas Pharma, AstraZeneca plc, Bayer AG, Codman And Shurtleff, Inc, DJO Global LLC, Eli Lilly & Company, Endo Health Solutions, F. Hoffmann-La Roche Ltd, Forest Laboratories, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Mallinckrodt plc, Medtronic PLC, ST. Jude Medical, Inc., Boston Scientific Corporation, Pfizer Inc., Halyard Health, Inc., Smiths Medical, B. Braun Melsungen AG, Neurotech Na, Inc., Becton, Dickinson and Company
Recent Developments
America, trailed by Europe, represented the biggest portion of the pain management market worldwide in 2015. The Asia-Pacific market will expand with the most elevated CAGR due to constant illness, government backing, and many more.
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