South & Central America Pain Management Devices Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product Type (Neuromodulation Devices, Ablation Devices, Analgesic Infusion Pumps); Application (Neuropathic Pain, Cancer Pain, Facial Pain and Migraine, Musculoskeletal Pain, Others), Country
The South and Central America pain management devices market is expected to reach US$ 477.32 million by 2027 from US$ 276.75 million in 2019. The market is anticipated to grow with a CAGR of 7.1% from 2020 to 2027.
The South and Central America pain management devices market is expected to grow due to rising incidence of chronic pain and initiatives by market players such as product launches and business expansion during the forecast period. However, the high cost of these devices restricts the market growth among the middle-income countries.
Cancer, cardiovascular diseases, neurovascular diseases, and musculoskeletal diseases are known to generate excruciating pain in affected individuals, with adults and elderly being the most vulnerable groups. According to the Centers for Disease Control and Prevention (CDC) data as of September 2017, the prevalence of chronic pain was 39% among the Brazilians—average age was 41 years with predominance of female (56%). The data also showed that the prevalence of chronic pain in southern and southeastern regions was comparatively higher, i.e., 43% and 40%, respectively. Nevertheless, the prevalence of the aforementioned disease is now being significantly noticed in children leading to episodes of chronic pain. Also, athletes, sportspersons, and people with a history of past injuries have reported to experience events of chronic pain.
A person suffering from chronic pain would require assistance in performing various daily tasks; therefore, pain management becomes essential for such individuals. Pain management devices provide relief for longer durations and also improve health. A wearable pain management device is easy to use and operate, thereby making the wearer self-reliant.
Based on the product, the South and Central America pain management devices market is segmented into neuromodulation devices, ablation devices, and analgesic infusion pumps. The neuromodulation devices segment held the largest share of the market in 2019. However, the ablation devices segment is estimated to register the highest CAGR in the market during the forecast period.
Based on application, the South and Central America pain management devices market is segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others. The neuropathic pain segment held the largest share of the market in 2019. However, the musculoskeletal pain segment is estimated to register the highest CAGR during the forecast period.
A few primary and secondary sources included in the report on the South and Central America pain management devices market are World Health Organization, Ministry of Health and Family Welfare, World Health Organization, National, and National Center for Biotechnology Info
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