Pain Management Devices Market Size Worth $8.1 Billion By 2025 | CAGR: 10.9%
Published Date : 23 / 07 / 17 | Report Format: PDF
The global pain management devices market is expected to grow at growth rate of 10.9% to reach USD 8.1 billion by 2025. Pain management includes different methods to prevent, or reduce pain sensations. These covers the use of medications; methods such as physical method and psychological therapies.The market is divided into products, and application. In terms of products, the market is segmented as Electrical Stimulators, Radiofrequency Ablation, Analgesic Infusion Pump and Neurostimulation Market. Neurostimulation segment is considered to be the largest market, accounted for more than USD 1,200 million in 2016.
Growing number of Neurostimulation problems worldwide supported the market growth. Electrical stimulator is divided into Transcutaneous Electrical Nerve Stimulation (TENS) and others. Analgesic pumps is segmented into Intrathecal Infusion Pumps, and External Infusion Pumps. Whereas, neurostimulators categorized as Spinal Cord Stimulators, Deep Brain Stimulators and Sacral Neurostimulators.
In terms of applications, the market is divided into oncology, neuropathic, musculoskeletal and others. Oncology segment captured significant share of the global market owing to the consistent increase in the cancer disease globally. Further, musculoskeletal and neuropathic application also considered to be growing at lucrative growth rate during the forecast period.
Geographically, North America captured 50.23% share of the global market in 2016. For example, according to the American Academy of Pain Medicine, millions of population suffer from chronic or acute pain every year which require immediate medical attention. According to the recent Institute of Medicine Report,(Blueprint for Transforming Prevention, Care, Education, and Research)this pain is a significant public health related problem and costs country US$560- US$635 billion annually, an amount equal US$2,000.00 for everyone living in the U.S. Further, increasing incidence of cancer and other disorders is considered to be the strong driver for the market growth.
Key companies such as B Braun Melsungen AG, DJO Global LLC, Smiths Medical, Pfizer, Inc., Codman, Baxter, Boston Scientific and others are operating in this market. Companies are engaged in strong research and development activities and strategic merger and acquisitions to expand their presence in this market. Due to this efforts, many companies have received government approval of their novel pain management devices. For instance, in January 2014, Smith Medical received U.S. FDA approval of CADD-Solis pain management device featured with Programmed Intermittent Bolus (PIB) and Patient Controlled Analgesics (PCA) delivery.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
- Electrical Stimulators
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Radiofrequency Ablation
- Analgesic Infusion Pump
- Intrathecal Infusion Pumps
- External Infusion Pumps
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Neurostimulators
MARKET, BY APPLICATION
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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