The size of the Latin America Pain Management Devices Market is valued at USD 0.48 billion in 2023. It is expected to grow at a CAGR of 8.9% to reach USD 0.73 billion by 2028.
Pain is caused due to the unpleasant sensory stimulation caused due to damage to the tissues by any means. It is majorly caused by injuries and in the case of diseases such as arthritis, ulcers, cancer, and multiple sclerosis. Acute pain is produced for a short period, whereas chronic pain is persistent for extended periods.
Several drugs and devices are available in the market to assist in pain management. These devices work by blocking the nerve stimulators by transmitting the unpleasant sensory experience to the brain. Neurostimulation devices, ablation devices, and analgesic infusion pumps are some of the pain management devices. Neurostimulators block pain by supplying specific frequencies of current to prevent the passage of signals.
An increase in demand for alternatives for pain management drugs, which cause many side effects, a large number of patients with chronic diseases, especially in the geriatric population, and technological advancements to develop better pain management devices are expected to drive the market. In addition, an increase in cancer patients and an increase in neuropathic diseases are also boosting the pain management devices market. However, side effects associated with using these devices, such as hypersensitivity and redness of the skin and high manufacturing costs, are restraining the market.
This research report on the Latin American 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, government initiatives in developing healthcare infrastructure in developing countries such as Brazil are expected to drive the market in this region.
KEY MARKET PLAYERS:
A few prominent companies operating in the Latin American 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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