Global Pain Management Devices Market - Forecasts from 2021 to 2026
発行: Knowledge Sourcing Intelligence
ページ情報: 英文 116 Pages
最後に、今後数年の間に疼痛管理装置の需要が増加すると予測されることを考慮して、世界中の市場参加者は新製品の開発とそれに伴う市場シェアの拡大のために様々な戦略的行動を取っています。例えば、2020年4月には、Omron社が投薬不要の疼痛管理製品に加えて、膝用のFocus TENS Therapy装置を発売しており、これは同社の市場シェアを拡大するだけでなく、疼痛管理装置市場を大きく活性化させると期待されています。
The global pain management devices market is expected to grow at a compound annual growth rate of 11.04% over the forecast period to reach a market size of US$10.059 billion in 2026 from US$4.834 billion in 2019. Pain is an unpleasant sensory and emotional experience caused due to tissue damage or illness. It is caused because of injury and different infections like osteoarthritis, ongoing joint inflammation, diabetic neuropathy, numerous sclerosis, stomach ulcer, fibromyalgia, and malignancy. It tends to be characterized based on the term as intense pain and persistent pain. Intense pain is the unexpected beginning of pain though ongoing pain perseveres for extensive stretches. Constant pain is caused because of maturing states of bone and joints and nerve harm and injury. Pain is overseen by a specific arrangement of medications or devices to treat pain. Transcutaneous electrical nerve triggers, neuro-triggers, absence of pain mixture siphons, and radiofrequency ablators are a portion of the pain management devices. A large portion of these devices blocks the pain entryway component, to impede the section of pain signs to the mind. Radiofrequency ablators obliterate nerves by creating warmth to impede the pain signals, Similarly, neuro-trigger devices utilize gentle frequencies of current to obstruct the entry of pain signals. These devices help in treating different painful conditions like malignant growth, musculoskeletal injury, and neuropathic pain. Pain management devices help to decrease the danger of long-haul opiates, non-steroidal calming drugs, and other pain-mitigating prescriptions.
As of late there is expanded utilization of pain management devices because of ascending in maturing populace. Expansion in malignancy populace, expanding predominance of a way of life-related sickness, and expanding neuropathic messes are a portion of the key variables driving the development of the global pain management devices market. Furthermore, expanding medical services mindfulness and ascend in medical care consumption are likewise energizing the development of the worldwide pain management devices market. Be that as it may, results, for example, skin excessive touchiness, redness, and hyper-pigmentation, and accessibility of substitutes, for example, pain alleviation prescriptions are a portion of the main considerations limiting the development for worldwide pain management devices market. Lastly, taking into account the estimated increase in demand for pain management devices in the upcoming years, market players all around the globe are undertaking various strategic actions to develop new products and subsequently, increase their market share too. For instance, In April 2020, Omron launched another Focus TENS Therapy gadget for the knee to its current setup of medication-free pain management items, which is expected to not only increase the market share of the company but also boost the pain management devices market.
The rising cancer cases are expected to further increase the demand for pain management devices over the forecast period. Besides, the high predominance of musculoskeletal problems, like joint inflammation, osteoarthritis, muscular degenerative issues, and rheumatoid joint pain, and a resultant ascent in instances of ongoing pain and failure to do routine errands, will support item interest. For example, as per the CDC, more than 54 million instances of joint inflammation were recorded in the U.S. in 2019, making it the essential justification work handicap. This has fueled the interest for pain management triggers to oversee constant pain. The incapability of oral medications is boosting patients to search for elective treatment choices, for example, pain management devices. The significant expenses related to hospitalization are additionally expected to help the pain management devices market as these significant expenses related to hospitalization have expanded the requirement for a diminished medical clinic stay and the need to move to more affordable consideration settings, in this way boosting item interest. For instance, the average hospital stay cost accounted for around USD 15,734 in 2018. Moreover, technological advancements are anticipated to drive further growth. For instance, in September 2020 Boston Scientific launched WaveWriter Alpha Spinal Cord Stimulator Systems for personalized pain relief.
Rising elderly population.
The consistently rising population of people above the age of 65 years is also expected to contribute to the pain management devices market growth. According to the United Nations (UN) data of World Population Prospects for the year 2019 highlighted that the world's population is expected to increase by two billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050, and with this, the world's aging population is growing too. Due to increasing life expectancy and falling fertility levels, the UN explained that for the first time in history, individuals aged 65 or above outnumbered children under five years of age globally. Moreover, by 2050, one in six people in the world will be over the age of 65 (16%), up from one in 11 in 2019 (9%). Thus, with the increasing geriatric population, the demand for pain management devices is also expected to increase, considering the prevalence of arthritis in them.
COVID - 19 Impact on pain management devices market.
The COVID-19 outbreak affected most of the sectors including the medical device industry. Cross country lockdowns have affected patients who explicitly depended on practice projects or PT as a pain management routine. In addition, numerous elective systems, in-person persistent visits have been suspended or postponed, which is relied upon to build the interest for at-home pain treatment, thus expected to affect the pain management devices market growth.
The increasing demand for pain management devices has led to the entry of several new market players like Pain Management Technologies in the pain management devices market. The entry of these new players in a market where traditional pharma behemoths like Abbott Laboratories and Boston Scientific Corporation already exist is expected to lead to further innovation in the pain management market. Moreover, in order to further increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions which primarily focus on providing comfort to the patient. For instance, in June 2020, Abbott partnered with Tandem Diabetes Care to develop integrated diabetes solutions. These strategic actions by the various competitive market players are expected to keep the market competitive and constantly evolving.