Publishing: May 2021 | Report Code: LS10305 | Available Format: PDF
The global pain management devices market is growing significantly due escalating technological advancement and massive research and development in pain management, increasing demand for point-of-care testing, and reappearance of pain after surgery. Increasing necessity for long-term rehabilitation pain management intended for geriatric population, unmet requirements for neuropathic pain, and increasing government initiatives to develop chronic pain rehabilitation centers in order to improve quality of life are supporting the growth of the global pain management devices market.
Massive unexplored market in pain management devices industry of developing economies are creating abundant opportunities for the pain management devices market to grow at a considerable rate during the projected years. In addition, the advanced research and development facilities, and innovative product developments by the companies are propelling the growth of the pain management devices industry.
The pain management devices market is categorized on the basis of type and application. On the basis of type, the market can be categorized as neurostimulation devices, electrical stimulators, analgesic infusion pumps, radiofrequency ablation devices and others. Radiofrequency ablation devices are expected to grow at a fastest rate in the coming years as it blocks the passage of pain signals to brain without affecting tissues.
The analgesic infusion pumps are further segmented on the basis of type as intrathecal infusion pumps, and external infusion pumps. The electrical stimulators can be further categorized as transcutaneous electrical nerve stimulator and other electrical stimulators; whereas, the neurostimulation devices can be further categorized as deep brain stimulator, spinal cord stimulator, sacral neurostimulator, and others. On the basis of application, the market can be segmented as neuropathic pain, musculoskeletal pain, cancer pain, facial and migraine pain, trauma prompted pain and others.
Some of the factors driving the growth of the global pain management devices market are increasing aging population, deficiency of effective analgesic drugs, escalating healthcare spending, refining healthcare infrastructure, and increasing prevalence of chronic diseases such as cancer, degenerative diseases, and diabetes. In addition, rise in neuropathic pain disorders, growing patient awareness regarding pain management, and rising government initiatives are also fuelling the growth of the market in the projected period. However, side effects of pain management devices, such as skin redness and skin hypersensitivity, presence of alternatives such as pharmaceuticals, and implementation of Affordable Healthcare Act in the U.S., are some of the factors restraining the growth of the global pain management devices market to some extent.
Geographically, North America will be leading the global pain management devices market in the coming years due to promising reimbursement policies, increasing number of pain management centers, enormous investment, and extensively research and development. Asia-Pacific is the fastest growing region in the global pain management devices market. The major reasons for the fastest growth of pain management devices market in the region are mounting healthcare expenditure, huge pool of patients, increasing government support, and increasing prevalence of diabetes, arthiritis and cancer, in the region. Moreover, the pain management devices market is growing due to increasing awareness of pain management, and refining healthcare infrastructure in the emerging countries, such as India and China, of Asia-Pacific region.
Some of the companies operating in the global pain management devices market are B. Braun Melsungen AG, Codman And Shurtleff, Inc., Stryker Corporation, Baxter International, Inc., DJO Global LLC., Boston Scientific Corporation, Medtronic, Inc., Hospira Inc., Smith Medical, Kimberly-Clark Corporation, and St. Jude Medical, Inc.
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