The market size for Pain Management Devices in Europe is estimated to be worth USD 1.45 billion by 2027 from USD 0.99 billion in 2022, growing at a CAGR of 7.9% from 2022 to 2027.
Increasing elderly people population, growth in the diabetic population suffering from pain, technological advancements are majorly driving the market growth. Additionally, high disposable income and standard growth in joint and acute chronic illnesses further fuel the market. Furthermore, favorable reimbursement policies and growing R&D to develop new products are other factors significantly helping the market to improve further.
The high cost of the devices, fewer knowledge levels about these products may hamper the European pain management devise market. Post-operative side effects like hypersensitivity reactions and redness of the skin are those caused by these pain management devices that mainly obstruct the market growth. Furthermore, strict rules to be followed for the product launches and the manufacturing of these pain management devices may hinder the European region's market growth.
This research report on the European pain management devices market has been segmented and sub-segmented into the following categories:
By Device Type:
By Mode of Purchase:
Based on the region, Europe ranks second in holding the most significant share of the global pain management devices market, followed by North America in 2020. The UK pain management devices market is expected to dominate the European market due to many key market participants. Among all the nations of Europe, nearly 11% of adults and 8% of children are suffering from chronic pain, which affects around one-third and one-half of the overall population across the UK, which leads to the market growth of pain management devices. The German pain management devices market is next to the UK in projecting at a healthy rate. The growing prevalence of chronic and acute patients suffering pains is majorly driving the market.
KEY MARKET PLAYERS:
Companies playing a promising role in the European pain management devices market profiled in the report are St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic plc, Baxter International, Stryker Corporation, Pfizer, Codman and Shurtleff, B Braun Melsungen AG, and DJO Global LLC.
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