(PharmaNewsWire.Com, December 21, 2017 ) The pain management devices market is estimated to represent a global market of USD 8.1 billion by 2025 with growth rate of 10.9%. Pain is related with a wide range of injury or disease. Some disease conditions may have pain and associated symptoms arising from a discrete cause, like post-operative pain, malignancy, or as neuropathic pains or headaches.
Growing awareness among patients regarding pain management devices coupled with favourable government initiatives in order to develop the pain management market, lead to augment the market growth.For example, drug pumps and neurostimulators have been covered under the Medicare, wherein around 80% of the total cost will be covered by the government. These will support the uptake of such devices hence drives the market growth. However, high cost will hamper the market growth.
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 1,380 million in 2017. 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 50.89% share of the global market in 2017. 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.
The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2016 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2017 to 2025 for every reported segment. The years considered for the study are: Historical Year - 2014 & 2015 Base Year - 2016 Estimated Year - 2017 Projected Year - 2025 TARGET AUDIENCE Traders, Distributors, And Suppliers Hospitals Manufacturers Government and Regional Agencies and Research Organizations Consultants Distributors
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) Others Radiofrequency Ablation Analgesic Infusion Pump Intrathecal Infusion Pumps External Infusion Pumps Neurostimulation Spinal Cord Stimulators Deep Brain Stimulators Sacral Neurostimulators
Table of Content
PAIN MANAGEMENT DEVICES MARKET OVERVIEW Study Scope Base Year Assumption and Methodology EXECUTIVE SUMMARY Key Market Facts Geographical Scenario Companies in the Market PAIN MANAGEMENT DEVICES KEY MARKET TRENDS Market Drivers Impact Analysis of Market Drivers Market Restraints Impact Analysis of Market Restraints Market Opportunities Market Future Trends PAIN MANAGEMENT DEVICES INDUSTRY STUDY Company Activity Analysis Regulatory Framework Analysis Pipeline Analysis Value Chain Analysis
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