International Pain management devices Market Forecasts Till 2023A Story by sumit choudhari Pain management devices Marketreport is an expert analysis report which gives detail information about industry players, segmentation and regional data in-depth. Medical Device Connectivity serves as The global pain management device market totaled more than USD 3.58 billion in 2016 and is bound to reach USD 5.81 billion by 2023, as per Market Research Future (MRFR) report. The report also mentions that the global market is projected to grow at a healthy CAGR of 7.2 % during the forecast period (2016-2023). Pain-related disability is a significant and costly liability to patients, leading to frustration and inability to function in day to day life. Growing geriatric population, increasing prevalence of chronic pain and growth in government initiatives to mitigate the threat of chronic pain have been instrumental in the development of the global market in recent years. Moreover, conventional drug-based therapies generally come with the threat of side effects, hence giving rise to research and development (R&D) efforts. These activities by market players aim to introduce advanced pain management options with higher efficacy and safety, thus giving birth to pain management devices. Furthermore, MRFR observes that the healthcare industry has not just managed to elevate its performance quotient but has also come up with adequate relief mechanisms across major hospitals and healthcare centers. A fact that bodes well with the global pain management devices market. Individuals suffering from minor and major diseases or disorders are quick to resort to treatments relieving them of pain or ailments, thus, giving propelling the market growth to a large extent. Market
Segmentation The segments of the global pain management devices
market are type and application. The types of pain management devices are stimulators,
pumps, and ablation devices. The stimulators segment is sub-segmented into
neuromodulator devices and transcutaneous electrical nerve stimulation (TENS)
devices. The neuromodulator devices segment is sub-segmented into spinal cord
stimulator, intrathecal pain pump, peripheral nerve stimulator, dorsal root
ganglion stimulation and other. Furthermore, ablation devices segment is
sub-segmented into microwave devices, cryoablation devices, and others. Pumps
are sub-segmented into analgesic infusion pumps and other. Analgesic infusion
pumps are sub-segmented into patient control infusion pumps, external infusion
pumps, intrathecal infusion pumps and other. Regional Analysis The report states that the global pain management
devices market is spread across the regions of North America, Europe, Asia
Pacific and Middle East and Africa. Among all regions, North America captures the largest
market for pain management devices followed by Europe. The growth of the
regional market is strongly aided by huge investment and development in
research and development. Lot of development and research in neurostimulation
based pain management devices has also supported the regional market growth.
Moreover, the healthcare industry in the region has outperformed the healthcare
industries of all the other regional pockets, giving a major boost to the
market growth in the region. The Asia Pacific market, on the other hand, is growing
at the fastest growth rate owing to a huge population base, steadily developing
infrastructure and elevating prevalence of numerous diseases. Moreover, the
continuous efforts of the governments in the region to upgrade the healthcare
standards are deemed to boost the growth prospects of the market. The Europe region observes a highly mature market in
terms of revenue and size on account of favorable reimbursement, development of
novel neuropathic pain management device and a large patient population base.
Further, increasing cases of cancer patients, continuous technological
advancements and increasing healthcare awareness along with growing healthcare
expenditure in the region have marked the positive outlook of the market. The Middle East and Africa markets go through highs and
lows in terms of market progress, due to weak economic growth and lack of
sophisticated healthcare infrastructure. However, the region is steadily noting
market growth on account of constant efforts by the government along with
massive investments by private and public firms striving to take advantage of
the untapped potential of the budding market in the region. Key Players The various key players in the global
pain management devices market include Codman and Shurtleff, Inc. (US), Stryker
Corporation (US), Hospira Inc. (US), Smiths Medical (UK), Baxter International
Inc. (US), Boston Scientific Corporation (US), Medtronic Plc (US), St. Jude
Medical (US), Bio-Medical Research (BMR) Ltd. (UK), Kimberly-Clark Corporation
(US), DJO Global LLC (US), B. Braun Melsungen AG. (Germany) and Pain
Management, Inc (US). Table
Of Content 1 INTRODUCTION 1.1 DEFINITION 1.2 SCOPE OF STUDY 1.2.1 RESEARCH OBJECTIVE 1.2.2 ASSUMPTIONS &
LIMITATIONS 1.2.2.1 ASSUMPTIONS 1.2.2.2 LIMITATIONS 1.3 MARKET STRUCTURE: 2 RESEARCH
METHODOLOGY 2.1 RESEARCH PROCESS: 2.2 PRIMARY RESEARCH 2.3 SECONDARY RESEARCH: 3 MARKET
DYNAMICS 3.1 DRIVERS 3.2 RESTRAINTS 3.3 OPPORTUNITIES 3.4 MACROECONOMIC
INDICATORS TOC
Continued….!
© 2018 sumit choudhariAuthor's Note
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