Zion Market Research, the market research group announced the analysis report titled ‘Pain Management Devices Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”.
Sarasota, FL -- (SBWIRE) -- 01/05/2018 -- Zion Market Research has published a new report titled "Pain Management Devices Market by Type (Electrical Stimulators, TENS, Analgesic Pumps, Intrathecal Pumps, Radiofrequency Ablation Devices, Neurostimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Deep Brain Stimulators and Others) for Cancer Pain, Neuropathic Pain, Facial & Migraine Pain, Musculoskeletal Pain and Other Application - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021". According to the report, the global pain management device market accounted for USD 2.73 billion in 2015 and is expected to reach USD 4.56 by 2021, growing at a CAGR of around 6.8% between 2016 and 2021.
Pain is a stressful feeling mainly caused by intense or damaging stimuli. Pain management devices are the electrical or non electrical devices used to deal with severe and acute pain management in patients who are suffering from various medical conditions. Various pains include cancer pain, neurological disorders, and musculoskeletal disorders. The pain management devices help to restore the ability of patients to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions.
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Globally, pain management device market has been accelerated by increasing awareness for controlling the pain caused by various medical conditions like cancer pain, neuropathic pain and chemical pain. Moreover, growing number of surgical procedures, healthcare expenditure is directly responsible for fueling the growth of pain management device market. Furthermore, large population base and rapid economic development in some developing countries is expected to improve access to quality healthcare which drive the growth of pain management device market. However, high procedural and purchase cost of pain management devices are considered as a restraint for the growth of pain management device market. Nonetheless, untapped market is considered as major opportunity for the growth of global pain management device market.
Based on type, the global market of pain management device is bifurcated into nine types: electrical stimulators, TENS, analgesic pumps, intrathecal pumps, radio-frequency ablation devices, neurostimulators, spinal cord stimulators, sacral nerve stimulators, deep brain stimulators and others. Electrical stimulation device dominates the global electrical stimulation devices market and was projected to expand approximately at a CAGR of 5.8% from 2016 to 2021. This growth is attributed to in going research and development in electrical stimulation device market.
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Based on application, the global market of pain management device is bifurcated into five types: cancer pain, neuropathic pain, facial & migraine pain, musculoskeletal pain and others. The neuropathic pain segment was the leading segment in 2015. This neuropathic pain segment is estimated to witness the highest growth during the forecast period, primarily due to the high prevalence of diseases resulting in neuropathic pain followed by other pain. Other factors that propels the growth of these segments includes global rise in hospitals and healthcare center. However, other applications like pregnancy/labor and menstrual pain, sports injuries, post-operative pain, and trauma pain is expected to fuel the growth of pain management device market, which accounted for approximately above 15% of market share in 2015.
Based on geographies, the global market of pain management devices market is bifurcated into five types: North America, Europe, Asia Pacific, Latin America and Middle East and Africa. These segments are further bifurcated into UK, Germany, France, China, Japan, India and Brazil. North America accounted for the largest share of the global pain management devices market, followed by Europe. Global pain management device market was dominated by North America in 2015 in term of revenue followed by Europe. This growth is attributed due to rising awareness related to health care in this region. Moreover, pain management devices market has huge opportunity in the emerging markets of Asia Pacific due to increasing standard of living, large patient base in this region. The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, due to the rising incidence of chronic diseases, increasing government support, and growing middle-class population and rise in disposable income levels in this region. Emerging economy like Brazil is expected to fuel the growth in Latin America region.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global pain management devices market including Baxter International Inc., Boston Scientific Corporation, DJO Global LLC, Kimberly-Clark Corporation, Smiths Medical, Medtronic, Inc., St. Jude Medical, Inc., Codman And Shurtleff, Inc, Stryker Corporation and Hospira Inc.
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