The size of the Pain Management Devices Market in North America was valued at USD 1.48 billion in 2022. It is expected to grow at a CAGR of 8.8% to reach USD 2.26 billion by 2027 during the forecast period. The growing demand for better management techniques from the patient population is a crucial driver of the pain management device market.
Nearly 70% of adults experience back pain, which is lower than neuropathic pain. The growth of the North America Pain Management Devices management market is also driven primarily by the increase in the number of hospitals and the number of health professionals worldwide. In addition, it is due to the growth of new pain management devices in the healthcare market, which has led the market.
Rising Research and development centers in the medical sector are lucrative to create growth opportunities for the market. The growing elderly population, especially in developing and developed countries, is exacerbating the chronic pain epidemic. It is a clear trend for increasing demand for pain management equipment. In the increased hospitalization for sports and recreation-related injuries is driving demand for pain management equipment. The Demand for exercise-related musculoskeletal injury is growing, especially in the developed North America Pain Management Devices Market. Besides, creating awareness over the availability of different treatment procedures for various chronic diseases is straight leveling up the market demand.
The high prices of pain management machines are limitations for developing the North America Pain Management Devices Market. In addition, stringent rules and regulations by the government in approving new devices are impeding the market growth. These devices are often used as second-line treatments for chronic pain patients resistant to drug therapy, which is the main challenge for the growth of the North American pain management devices market.
This research report on the North 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, North America dominates the global pain management devices market during the forecast period. The United States leads the market due to the high awareness of people about the benefits of pain management devices and the developed healthcare infrastructure. Favorable regulatory and healthcare reforms such as the U.S. Patient Protection and Affordable Care Act of 2010 and many aging populations. Rapidly growing adoption of pain management devices is highly expected to drive the growth of the U.S. pain management devices market in the coming years. Also, increasing demand for drug-free therapy, rising disposable income, and the growing prevalence of chronic pain conditions are fuelling the market's growth. The number of Food and Drug Administration approvals for neuromodulation devices grew by 35.0% in the past decade. The International Neuromodulation Society published this data.
KEY MARKET PLAYERS:
Companies that play a pivotal role in the North American pain management devices market are St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic plc, Baxter International, Stryker Corporation, Pfizer Codman, Shurtleff, B Braun Melsungen AG, and DJO Global LLC.
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