Pain Management Devices Market
Pain Management Devices Market (Devices – Stimulators, Pumps, and TENS; Application - Cancer, Musculoskeletal, and Neuropathic Pain) Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Press Release :
Global Pain Management Devices Market: Overview
The worldwide pain management devices market includes an inexorably aggressive scene set apart by rising degree of rivalry among its players. A plenty of players in the market are competing for higher stakes. To this end, they are concentrating on divulging different kinds of torment the executives gadgets with novel advancements so as to receive aggressive rewards. A few noticeable players have been occupied with extending their portfolio to merge their offers in the worldwide torment the board gadgets showcase. Rising speculations on innovative work exercises is probably going to up the power of rivalry in the pain management devices market in the coming years.
The report offers an in-depth analysis of the global pain management devices market to help the readers to understand the dynamics of the market. According to report, the market is projected to witness a substantial growth in the tenure between 2015 and 2023. The report also offers insights based on facets such as opportunities, drivers, trends, and competitive landscape of the global pain management devices market.
Global Pain Management Devices Market: Segmentation
The pain management devices market is sectioned based on item type and area. Based on item, the market is sectioned in to electrical incitement gadgets, radiofrequency removal gadgets, pain relieving imbuement siphons gadgets, neurostimulation gadgets. Of these, neurostimulation gadgets fragment represented the main offer and expected to proceed with its strength in the pain management devices market. This development is credited to the rising occurrence of incessant agony, for example, disease torment and musculoskeletal. The commercialization of the devices in the field of neurostimulation is driving development of the section. A developing number of individuals with interminable agony in appendages, lower back, and legs are experiencing implantation of profound mind and spinal rope incitement gadgets, which is relied upon to build take-up of viable neurostimulation gadgets around the world.
Global Pain Management Devices Market: Drivers and Trends
Growth in the Demand for Better Pain Management Solutions Drives the Growth
The approach of pain management devices has made new, energizing roads in the worldwide market. Expanding pace of commercialization of such gadgets as of late has catalyzed quick market's development. The worldwide pain management devices market is probably going to observe mishaps because of low degree of patient mindfulness and the significant expense of these gadgets. Also, potential symptoms with certain torment the board gadgets have hosed the take-up. The danger of reactions of skin disintegration and careful site disease related with neurostimulation inserts is a valid example.
By and by, the rising occurrence of neuropathic torment world over is accounting for a few worthwhile roads for pain management devices producers. They are extending their pipeline of items. In addition, the rising mindfulness about the evil impacts of solution torment executioners encourages patients' enthusiasm for innovatively propelled pain management devices market.
Global Pain Management Devices Market: Regional Outlook
North America dominates the worldwide market with 48.7% portions of the general market. This development is owing to the rising pervasiveness of interminable ailments and developing games related wounds are boosting the interest for pain management devices in the area. Besides, development of the area can be ascribed to rising creative innovations combined with nearness of cutting edge social insurance offices. However, Asia Pacific is required to extend with higher CAGR than some other area over the conjecture time frame. The developing rate of neck and back torment among the people and expanding instances of diabetes and ceaseless injuries are driving the development of the district.
Pain Management Devices Market: Overview
The pain management devices market is expected to witness substantial growth as a result of technological advancements in this industry. Rising chronic debilitating diseases and geriatric population play a vital role in the growing demand for pain management devices. Furthermore, the growing preference for these devices over surgical inventions and oral drugs will be a crucial driving factor for this market.
Analysts have studied the pain management devices market on the basis of applications, product type, and geography. The report is a decisive guideline for new entrants to understand the market and to develop new strategies while keeping in view strategic recommendations included in the report. The study covers drivers and restraints impacting the demand for pain management devices over the forecast period. This report is prepared using primary and secondary research as well as in-house databases.
Pain Management Devices Market: Trends and Opportunities
The growth of the pain management devices market is attributed to increasing incidence of arthritis, cancer, trauma, and neurological diseases. This market is witnessing rapid growth due to the introduction of advanced healthcare facilities and increase in the number of hospitals across the globe. Moreover, growing incidence of sports-related injuries and lifestyle-related diseases is fueling the expansion of the pain management devices market. Adverse effects of pain medications, large patient population base, and high proven efficiency of pain management devices are factors driving the global pain management devices market. However, factors such as low number of pain clinics in several countries, shortage of pain specialists, low awareness regarding availability and use of pain management devices, and high cost of these devices are hampering the growth of the pain management devices market.
On the basis of application, the global pain management devices market has been classified into neuropathic pain, musculoskeletal pain, cancer pain, facial and migraine pain, and others. In this category, the segment of neuropathic pain has been witnessing strong growth due to rising geriatric population across the globe, favorable reimbursement scenario, and side effects of drugs used to treat neuropathic pain.
Based on type, the global market for pain management devices is divided into stimulators, radiofrequency ablation devices, TENS, and pumps. In terms of revenue generation the stimulation devices segment holds the major share in the market, due to commercialization of breakthrough technologies.
Pain Management Devices Market: Regional Outlook
Geographically, the global pain management devices market comprises Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. North America dominates the overall market and will continue do so in terms of revenue generation due to advancements in novel pain management devices. An increase in geriatric population serves as a key factor driving the growth of the pain management devices market in Europe.
The increasing cases of chronic wounds and diabetes along with growing incidence of back and neck pain are boosting the growth of the Asia Pacific pain management devices market. Latin America presents significant opportunities to grow due to an increase in disposal income and rising awareness about the safety of pain management devices.
Pain Management Devices Market: Competitive Landscape
The leading players present in the global pain management devices market include Bio-Medical Research (BMR) Ltd., Smiths Medical, Boston Scientific Corp., Halyard health, St. Jude Medical, Stryker Corp., Baxter International Inc., and Hospira Inc.
Market segmentation based on geography:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments