Pain Management Devices Market (Electrical Stimulators, Radiofrequency Ablation, Analgesic Pumps, Neurostimulation Devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Albany, NY -- (SBWIRE) -- 01/19/2015 -- According to a new research study on the global pain management devices market published by Transparency Market Research, states that the market will observe growth from US$2.0 billion in 2011 to US$5.0 billion by 2018, registering a CAGR of nearly 13.1% over the period. The report is titled "Pain Management Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018".
The report states that technological advancements observed in new products in the market and rising sophistication of the products have helped revolutionize the global pain management devices market. The overall field of pain management has significantly benefitted from the huge volume of past as well as ongoing research activities undertaken in the area of pain sensations and processes related with their neurotransmission.
Browse the full Global Pain Management Devices Market (Electrical Stimulators, Radiofrequency Ablation, Analgesic Pumps, Neurostimulation Devices) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/pain-management-drugs-devices.html
A rising geriatric population base across the globe, which has consequently led to increased prevalence of age-related health conditions such as arthritis and chronic conditions such as cancer and diabetes, is also driving the global pain management devices market. The prolonged use of pain management drugs induces many serious side-effects on patient's health, owing to which better ways for managing pain are always aspired by the end-user. This trend has always benefitted the market for pain management devices.
The report segments the global pain management devices market into three major parts: the variety of product types available in the market, chief application areas of pain management devices, and chief regional markets.
The product type electrical stimulators, and especially of the variety Transcutaneous Electrical Nerve Stimulators (TENS) is currently the most widely used pain management devices types in the market. The market value of this product segment was nearly US$208.7 million in 2011, and is expected to grow at a CAGR of 8.2% during the report's forecast period. However, the market segments radiofrequency ablation and neurostimulation devices are expected to grow at the highest rates during the forecast period, owing to rising prevalence of a variety of neuropathic diseases across the globe. The market segment neurostimulation devices is expected to grow at a CAGR of nearly 15.2% over the forecast period.
On the geographic front, the regional market of North America reserved the largest share of the global pain management devices market in 2011. However, the regional market of Asia is predicted to grow at the highest pace, nearly 21.7%, over the period of report's forecast. The growth can be attributed to an overall rise in awareness about early diagnosis and ongoing management of chronic pain conditions and rising disposable incomes in the region, making high-end pain management devices feasible to the population.
For further inquiries, click here:
Also, WHO has predicted that Asia will have the world's largest number of diabetic patients by the end of the year 2020. This, coupled with favorable medical reimbursement policies in the region will drive future demands for pain management devices.
The predominantly oligopolistic nature of the global pain management devices market features only a few chief businesses such as Kimberly Clark, St. Jude Medical, Medtronic Inc, and Boston Scientific.
About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Blog : https://tmrresearch.wordpress.com/