Pain
Management Devices Market was
valued at USD 2.0 billion and is expected to grow at a CAGR of 13.1%
from 2013 to 2019 to reach a market of USD 5.0 billion by 2019.
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Increased
sophistication and technological advances have revolutionized the
pain management sector. Significant research to understand various
pain sensations and their neurotransmission processes has helped in
pain reduction to a great extent. A rise in aging population has
consequently led to a rise in chronic diseases such as arthritis,
diabetes and cancer. In addition, serious side-effects caused due to
prolonged use of pain management drugs have triggered the growth of
the pain management devices market.
Pain
management devices comprise a variety of instruments such as
electrical stimulators, analgesic pumps, radiofrequency ablation and
neurostimulation devices. Robust support from healthcare institutes,
universities and hospitals coupled with positive involvement from
government bodies has unquestionably assisted in further growth of
this sector. Companies in this sector are collaboratively working
towards the introduction of innovative products which would satisfy
the unmet needs of patients. Moreover, limitations like
miniaturization, achievement of read out time and cost efficiency are
being worked on by all the major players of this market.
Electrical
stimulators especially the TENS (Transcutaneous Electrical Nerve
Stimulators) are currently the most widely used by patients. The
market for electrical stimulators was valued to be USD 208.7 million
in year 2011 and is expected to grow at a CAGR of 8.2% from year 2012
to 2018. Although electrical stimulators and analgesic pumps are
currently the most commonly used devices, radiofrequency ablation (RF
ablation) and neurostimulation devices are anticipated to register
high growth rate in the coming years of forecast. The rise in
neuropathic diseases such as trigeminal neuralgia, peripheral
neuralgia and spinal injuries has encouraged the growth of the
neurostimulation devices market, which is slated to grow at a CAGR of
15.2% from 2012 to 2018.
Geographically,
the North American region constituted the largest market in the year
2011; however, Asia is predicted to foresee the highest growth rate
of 21.7% from 2012 to 2018. This growth has been attributed to
increase in disease awareness and rising disposable incomes. In
addition, the Asian region has been predicted to have the highest
incidence rates of cancer and diabetes by 2020, by the World Health
Organization. Favorable reimbursement policies and research funding
by governments in the region will also provide the required impetus
for the growth of the market.
The
pain management devices market is predominantly an oligopolistic
market and is ruled by players such as Medtronic Inc, St. Jude
Medical, Boston Scientific, Kimberly Clark and others.
The
global pain management devices market has been segmented as below:
Pain
Management Market, By Types
Electrical
Stimulators
TENS
Others
Analgesic
Pumps
Intrathecal
pumps
External
pumps
Radiofrequency
Ablation Devices
Neurostimulators
Spinal
Cord Stimulators (SPS)
Sacral
Nerve Stimulators (SNS)
Deep
Brain Stimulators (DBS)
Pain
Management Market, By Applications
Cancer
Pain
Neuropathic
Pain
Facial
& Migraine Pain
Musculoskeletal
Pain
Trauma
Pain
Management Market, By Geography
North
America
Europe
Asia
Rest
of the World (RoW)
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