The global pain management devices market is valued at an estimated USD 4.64 Billion in 2021 and is projected to grow at a CAGR of 8.5% during the forecast period. A number of factors, such as the growing demand for long-term pain management among the geriatric population, large patient population base, adverse effects of pain medications, development of novel pain management device, established reimbursement scenario for spinal cord stimulation (SCS) devices in developed countries, and high proven efficacy of pain management device for the treatment of chronic pain are driving the growth of the global market. On the other hand, factors such as low awareness regarding the availability and use of pain management device, shortage of pain specialists, low number of pain clinics in several countries, existence of a gap in prevalence and treatment of chronic pain, and high procedural and purchase cost of pain management device are restraining the growth of the global market.

The Asia-Pacific region has become an attractive destination for companies engaged in the manufacture of pain management device. The high growth opportunities in this regional segment can be attributed to a number of factors, including growing incidence of chronic diseases, improving healthcare infrastructure in the region, growing middle-class population and disposable income levels, and rising awareness about the safety and efficacy of pain management device. According to the U.S. Department of Commerce, Japan has one of the largest geriatric populations in the world, with at least 20% of its population aged 65 years and above. In 2012, 30 million people in Japan were aged above 65 years and this figure is projected to reach 39 million by 2030 and nearly 43 million by 2050. Driven by its high growth potential, leading companies operating in the market are focusing on expanding their presence in emerging APAC countries. In September 2013, DJO Global announced plans to launch 10 pain management device in India in a phased manner over the next five years. The company also planned to start its operations in India, starting with 40 distribution locations across the country.

As of 2015, Medtronic plc (Ireland) held the leadership position in the global pain management devices market. Over the last three years, the company adopted new product launches, alliances, geographic expansion, and inorganic growth strategies such as acquisitions and agreements to maintain its leading position in the market. St. Jude Medical, Inc. (U.S.) and Boston Scientific Corporation (U.S.) are the other key players in this market.

Stakeholders

Pain Management Device Manufacturing Companies

Distributors and Suppliers

Government Bodies

Research Institutions and Universities

Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs)

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Scope of the Report

This research report categorizes the pain management equipment market into the following segments and subsegments:

Global Pain Management Devices Market, by Type

Neuromodulation Devices Transcutaneous Electrical Nerve Stimulation (TENS) Devices Spinal Cord Stimulation (SCS) Devices

Ablation Devices Radiofrequency Ablation Devices Cryoablation Devices

Analgesic Infusion Pumps Intrathecal Infusion Pumps External Infusion Pumps



Global Pain Management Devices Market, by Application

Neuropathic Pain

Cancer Pain

Facial Pain and Migraine

Musculoskeletal Pain

Others (Pregnancy/Labor and Menstrual Pain, Sports Injuries, Post-operative Pain, and Trauma Pain)

Global Pain Management Devices Market, by Mode of Purchase

Over-the-counter Devices

Prescription-based Devices

Global Pain Management Devices Market, by Region

North America U.S. Canada

Europe Germany France U.K.

Asia-Pacific India China Japan

Rest of the World

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company�s specific needs. The following customization options are available for the report:

Product Analysis:

Product matrix, which gives a detailed comparison of the product portfolios of each company

Geographic Analysis:

Further breakdown of the Rest of Asia-Pacific Pain management equipment market into South Korea, Australia, New Zealand, and others

Further breakdown of the Rest of the World Pain management devices market into Latin America, Middle East, and Africa

Company Information:

Detailed analysis and profiling of additional market players (Up to 5)

Pain management device are used to manage chronic and acute pain in patients suffering from various conditions, such as cancer, neurological disorders, and musculoskeletal disorders. These devices restore the ability of patients to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions.

The global pain management equipment market is estimated to grow at a CAGR of 8.5% from 2016 to 2021 to reach USD 4.64 Billion by 2021. The growth in this market is primarily driven by factors such as the presence of a large patient population base and adverse effects associated to the use of pain medications.

Based on type, the pain management equipment market is categorized into neurostimulation devices (transcutaneous electrical nerve stimulation (TENS) and spinal cord stimulation (SCS)), ablation devices (RF ablation and cryoablation), and analgesic infusion pumps (intrathecal and external infusion pumps). The neurostimulation devices segment is expected to account for the largest share of the market in 2016. This can majorly be attributed to the cost-effectiveness of neurostimulation devices, high efficacy of TENS and SCS devices in alleviating chronic pain, and availability of reimbursement for SCS therapy in developed countries.

On the basis of applications, the pain management devices market is segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and other applications (pregnancy/labor and menstrual pain, sports injuries, post-operative pain, and trauma pain). The neuropathic pain segment is estimated to witness the highest growth during the forecast period, primarily due to the high prevalence of diseases resulting in neuropathic pain.

On the basis of mode of purchase, the market is categorized into over-the-counter and prescription-based pain management device. The prescription-based devices segment is estimated to command a larger share, majorly due to the longer market presence of these devices with established safety and efficacy profiles and their long-term cost effectiveness.

In 2015, North America accounted for the largest share of the global pain management devices market, followed by Europe. However, the Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, due to the rising incidence of chronic diseases, increasing government support, and growing middle-class population and disposable income levels in this region.

Leading players in the pain management equipment market are focusing on the strategies of new product launch and geographic expansion. These strategies help market players to strengthen their product portfolios, streamline their manufacturing capabilities, expand their distribution networks, and penetrate into high-growth markets.

Some of the Major Key Players From Pain Management Devices Market are Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.) were the top players in the in 2015.

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