Market Research Reports : Transparency
Market Research published new market report "Pain Management Devices Market (Electrical Stimulators,
Radiofrequency Ablation, Analgesic Pumps, Neurostimulation Devices) -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012
- 2018", in 2011, the global pain management devices market
was valued at USD 2.0 billion and is expected to grow at a CAGR of 13.1% from 2012
to 2018 to reach a market of USD 5.0 billion by 2018.
Browse the full report at http://www.transparencymarketresearch.com/pain-management-drugs-devices.html
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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