The Global Pain Management Devices Market will benefit from increasing regulatory approvals for neuromodulation devices in recent years. According to a report published by Fortune Business Insights, titled “Pain Management Devices Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 3,922.9 Mn in 2018. Fortune Business Insights states that the market will reach US$ 8,046.3 Mn by 2026, exhibiting a CAGR of 9.4%.
Segmentation of Pain Management Devices Market
By Product Type
- Electrical Stimulation Devices
- RF Ablation Devices
- Neuromodulation Devices
- Infusion Pumps
By End User
- Physiotherapy Centers
- Hospitals and Clinics
- North America
- Asia Pacific
Launch of Technologically Advanced Pain Management Devices Market Likely to Enable Growth
Technological advancements in pain management devices have played a huge part in the overall pain management market growth in recent years. Several companies have launched products with better feasibility and high operational efficacy. In January 2019, Boston Scientific announced the launch of an advanced chronic pain management device, which has been identified as one of the very few devices in the market with the ability to combine paresthesia and sub-perception therapy.
The ‘Spectra WaveWriter SCS System’ was launched with the aim of offering a non-drug therapeutic approach for people suffering from chronic pain. The report encompasses product launches, similar to Boston Scientific’s latest device and signifies the importance and impact of such devices on the global pain management devices market.