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| Global Interventional Pain Management Market Size |
Interventional pain management (IPM) provides minimally invasive procedures
such as epidural steroid injections, facet joint injections, radiofrequency
ablations to treat various types of chronic and acute pain including lower back
pain, neck pain, knee pain, and cancer pain. These procedures help in pain
relief with a short recovery time as compared to conventional pain management
and surgeries. With growing geriatric population and rising incidence of
chronic diseases, the need for IPM procedures is increasing rapidly.
The global
Interventional Pain Management Market is estimated to be valued at US$ 7.49 Bn in 2023 and is expected to
exhibit a CAGR of 25% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Minimally invasive nature and short recovery time are the major factors
contributing to the increasing adoption of IPM procedures. These procedures
help in delivering targeted drug therapies or applying radiofrequency energy to
block pain signals with minimal incisions or punctures. This reduces trauma,
blood loss, and post-procedure recovery time significantly as compared to
conventional surgeries. With growing burden of chronic diseases and rising
cases of acute injury and trauma, IPM is becoming the preferred option for pain
management worldwide which is expected to drive the interventional pain
management market growth over the forecast period.
Segment
Analysis
The global interventional pain management market is dominated by thermal
radiofrequency ablation segment due to increased adoption of minimally invasive
procedures for pain management. Thermal radiofrequency ablation procedures
involve application of heat to destroy small nerves and tissues, resulting in
reduced pain sensation. The technique helps treat various conditions such as
back and neck pain without the need for surgery.
Key Takeaways
The Global
Interventional Pain Management Market Size is expected to witness high
growth during the forecast period of 2023 to 2030. The market size for
interventional pain management was valued at US$ 7.49 Billion in 2023 and
is projected to reach over US$ 25 Billion by 2030, registering a CAGR of around
25%.
Regional analysis
North America currently dominates the global interventional pain management
market due to rising geriatric population and increasing prevalence of chronic
pain disorders in the region. The United States accounts for the largest share
in the North American as well as global interventional pain management market.
Increasing adoption of minimally invasive procedures and growing awareness
about pain management therapies are some of the key factors driving the growth
of interventional pain management market in the region.
Key players
Key players operating in the interventional pain management market are
Medtronic, Abbott, Stryker, B. Braun Melsungen AG, Boston Scientific Corp.,
Baxter, OMRON Healthcare, Inc. Medtronic holds the largest share in the global
market owing to its wide portfolio of thermal radiofrequency ablation systems
for pain management. Abbott is another prominent player with strong presence
across key markets.
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