The “Pain Management Therapy Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Pain Management Therapy Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global pain management therapy market size was US$ 3.5 billion in 2021. The global pain management therapy market is forecast to grow to US$ 7.6 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The rising demand for long-term pain management therapy and the increasing prevalence of diseases will drive the pain management therapy market forward. In addition, the growing geriatric population and negative side effects of pain relief medicines will surge the demand for efficient pain management therapies.
The rapidly growing population will offer ample growth opportunities for the market. In addition, the introduction of novel pain management therapy devices will surge the growth of the market.
The high proven efficacy of pain management therapy devices will benefit the market during the forecast period. On the contrary, low awareness related to pain management therapies may restrict the growth of the global pain management therapy market.
Rising initiatives by healthcare professionals will contribute to the growth of the global pain management therapy market during the forecast period. For instance, Venus Remedies Limited unveiled a consumer healthcare division in 2021 to provide efficient products for pain management.
COVID-19 Impact Analysis
The wake of the pandemic forced the citizens to stay at home and not to visit any public place until necessary. People also declined vising healthcare centers for pain management therapies. In addition, healthcare centers also closed their doors for other patients to focus on the ones suffering from the COVID-19 virus. Thus, it hampered the growth of the global pain management therapy market.
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Regional Analysis
The Asia-Pacific pain management therapy market is forecast to grow at the fastest growth rate. It is owing to the rising prevalence of cancer, neurological disorders, and musculoskeletal disorders. In addition, the declining demand for oral pain medications will surge the growth of the overall pain management therapy market. Growing population and rising healthcare expenditure will contribute to the growth of the pain management therapy market. Furthermore, improving healthcare infrastructure and the growing number of healthcare reforms, majorly in India and China, will surge the growth of the global pain management therapy market during the study period.
Competitors in the Market
Abbott Laboratories
AstraZeneca PLC
Baxter International Inc.
Becton, Dickinson, and Company
Boston Scientific Corporation
Other Prominent Players
Market Segmentation
The global pain management therapy market segmentation focuses on Devices, Applications, Drugs, and Region.
By Devices Type Outlook
Neuromodulation Devices
Transcutaneous Electrical Nerve Stimulation (TENS) Devices
Spinal Cord Stimulation (SCS) Devices
Ablation Devices
Radiofrequency Ablation Devices
Cryoablation Devices
Analgesic Infusion Pumps
Intrathecal Infusion Pumps
External Infusion Pumps
By Application Outlook
Neuropathic Pain
Cancer Pain
Facial Pain and Migraine
Musculoskeletal Pain
Others (Pregnancy/Labor and Menstrual Pain, Sports Injuries, Post-operative Pain, and Trauma Pain)
By Drugs Type Outlook
NSAIDs
Anesthetics
Anticonvulsants
Anti-migraine Agents
Antidepressants
Opioids
Nonnarcotic Analgesics
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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