San Francisco, 05 Dec 2018 - According to a report published by Grand View Research, Inc.; the pain management devices market is expected to reach a valuation of around 8.6 billion by 2022.
High prevalence of diabetes along with growing elderly population can drive the market during the forecast period (2012 to 2022).
Increasing preference for these devices over surgical interventions and oral drugs is considered as the key driving factor for the market growth. The geriatric population is highly susceptible to various diseases such as cancer, diabetes, and cardiovascular disorders. As per International Diabetes Federation, the occurrence of diabetes is likely to rise from 366 million in 2011 to 552 million through 2030. High prevalence of this disorder leads to chronic pain in various individuals, thus expected to increase demand for these devices in the coming years. Moreover, frequent advancements in technologies is also likely to drive the market growth. The developments include advanced products like electrode-based wearable automatic transcutaneous electrical nerve stimulator devices that offer peripheral pain management in a 60-minute run cycle.
www.grandviewresearch.com/industry-analysis/pain-management-devices-market
Worldwide pain management devices market can be segmented on the basis of type, application, and region. Based on type, the market can be bifurcated into electrical stimulators, analgesic infusion pumps, radiofrequency ablation, and neurostimulation.
In 2014, the neurostimulation devices segment estimated revenue share of over 48.9%. The segment includes deep brain stimulators, spinal cord stimulators, and sacral neurostimulators. These devices comprise varied range of applications in chronic pain management that include stimulation of stimulation of spinal cord, sacral nerve, deep brain, vagus nerve, repetitive transcranial magnetic stimulation, respiratory electrical stimulation, and gastric electric stimulation. These devices are more effective than traditional approaches as they show sustained reduction in pain. In addition, traditional therapy includes medicines, which causes many side effects.
The radiofrequency ablation segment is anticipated to show lucrative growth during the forecast period due to their applications in curing disorders including cardiac diseases, varicose veins, and tumors. These devices play an important role in pain management as its effect lasts for 6 to 12 months. These devices are mainly used in cancer pain, neuropathic pain, and musculoskeletal pain. Increasing number of individuals suffering from cancer across the world is also expected to drive the demand for these devices. The pain generally arises from a tumor compressing a nerve along with many other factors that depends on the stage of cancer. The medication given to patients are also responsible for pain. Approximately 20%-50% of cancer patients experience acute pain during diagnosis and about 75% experience pain during the disease progression. These devices use action through high-temperature thermal therapy, which prompts coagulation necrotic cells by heating tissue to 100°C. This mechanism of these devices helps to kill cancer cells that leads to effective pain management.
As per application, the market can be categorized into cancer, neuropathic pain, musculoskeletal diseases, facial pain and migraine, and trauma.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. In 2014, North America was the leading market and acquired 49.5% of the total revenue. This growth can be associated with availability of advanced healthcare infrastructure, high awareness among the people coupled with high purchasing power in this region. In addition, government efforts such as Precision Medicine and Affordable Care Act along with organized reimbursement policies are likely to drive the market in this region.
Asia Pacific is anticipated to show lucrative gains over the forecast period due on account of increasing government spending on healthcare infrastructure development. Improving disposable income in countries including China and India are anticipated to increase the demand for these devices. Moreover, rapidly improving healthcare infrastructure in Japan and India also contributed towards market growth in this region
Prominent players operating in the market include Baxter International Inc.; Medtronic Plc; Boston Scientific Corporation; Stryker Corporation; and Baxter International. Players in the market are majorly adopting mergers and acquisitions, and strategic alliances to gain higher share.
Access More Reports Of The Same Category: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the pain management devices market on the basis of products and region:
Global Pain Management Devices Market By Type Outlook
- Electrical stimulators
- TENS
- Others
- Radiofrequency ablation
- Analgesic infusion pumps
- Intrathecal infusion pumps
- External infusion pumps
- Neurostimulation
- Spinal cord stimulators
- Deep brain stimulators
- Sacral neurostimulators
Global Pain Management Devices Market By Application
- Electrical stimulators
- Cancer
- Neuropathic pain
- Facial &migraine
- Musculoskeletal disorders
- Trauma
- Radiofrequency ablation
- Cancer
- Neuropathic Pain
- Musculoskeletal disorders
- Analgesic infusion pumps
- Cancer
- Neuropathic pain
- Musculoskeletal disorders
- Trauma
- Neurostimulation
- Cancer
- Neuropathic pain
- Facial &migraine
- Musculoskeletal disorders
Global Pain Management Devices Market By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- MEA
- South Africa
Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-pain-management-devices-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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