According to the latest study on ‘Pain Management Devices Market to 2027 – Covid-19 Impact and Global Analysis and Forecast by Product Type and Application,’ the market is expected to reach US$ 8,388.67 million in 2027 from US$ 4,527.31 million and in 2019. The market is estimated to grow at a CAGR of 8.1% from 2020 to 2027. The report provides trends prevailing in the global pain management devices market and the factors driving market along with those that act as hindrances.
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The key factors that are driving growth of the pain management devices market are increasing chronic pain incidences, rising product launches, and growing geriatric population. Moreover, technological advancements in pain management devices are likely to have positive impact on the market. However, the lack of awareness regarding pain management and high cost of pain management devices are likely to restrict the market growth.
Medtronic plc, ST. Jude Medical, Inc., Boston Scientific Corporation, Hospira, Inc., Halyard Health, Inc, Smiths Medical, B. Braun Melsungen AG, Neurotech NA, Inc., BD, and Nevro Corp. are among the leading companies operating in the pain management devices market.
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Pain Management Devices Market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Pain Management Devices Market segments and regions. Researchers also carry out a comprehensive analysis of the recent regulatory changes and their impact on the competitive landscape of the industry. The research assesses the recent progress in the competitive landscape including collaborations, joint ventures, product launches, acquisitions, and mergers, as well as investments in the sector for research and development.
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