Pain is a stressful condition caused mainly due to damaging stimuli. Pain can be classified in to several ways, but the most important terms used in therapeutic application is into nociceptive and neuropathic. The International Association for Study of Pain (IASP) defines pain as “an unpleasant sensory and emotional experience associated with actual or potential tissue damage or described in terms of such damage.” Pain management devices are the electrical or non electrical device used to manage severe and acute pain in patients who are suffering from various medical conditions. The pain management devices reinstate the ability of patients to do everyday activities, reduced intake of oral analgesics, and maintain the quality of life. Various condition associated with pain include cancer pain, neurological disorders and musculoskeletal disorders.
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According to the report, the global pain management device market accounted for USD 2.73 billion in 2015 and is expected to reach USD 4.56 billion by 2021, growing at a CAGR of around 6.8% between 2016 and 2021.
Globally, pain management devices market has accelerated due to increasing awareness for controlling the pain caused mainly due to cancer pain, neuropathic pain and chemical pain. In addition, growing number of surgical procedures, healthcare expenditure is also the considered factors which propel the growth of pain management device market. Moreover, large population base in some developing countries is expected to drive the growth of pain management devices market. However, high purchase cost of devices is considered as a restraining factor for the enlargement of pain management device market. Nonetheless, ongoing research and untapped market are considered as major opportunities for the growth of global pain management devices market.
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This report forecast and analyses the pain management devices on a global and regional level. This study includes the historic data of 2015 and forecast from 2016 to 2021 based on revenue (USD Million). In addition, the report describes several restraining and deriving factors and their impact on the pain management devices market. The report also covers analysis of Porter’s Five Forces model for the pain management devices market. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their growth rate, market size and general attractiveness.
The report provides detailed segmentation of pain management devices market based on type, application, and region.
Geographically, the pain management devices market has been segmented into five regions: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. These regions are further segmented into the U.S., UK, Germany, France, China, Japan, India, and Brazil. Demand of pain management devices in all regions has been forecast and analyzed based on the basis of current trends for the period of six years. North America holds the major market share of pain management devices in 2015 in terms of revenue followed by Europe region. This growth is mainly attributed due to rising awareness related to health care in this region. Moreover, pain management devices market has massive opportunity in the rising markets of Asia Pacific as a result of large patient base and increasing standard of living in this region. However, the Asia-Pacific market is projected to grow at the highest growth rate during the forecast period, due to the increasing incidence of chronic diseases, increasing government support, and growing middle-class population and rise in disposable income levels in this region Emerging economy like Brazil is expected to fuel growth in Latin America region.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global pain management devices market include Baxter International Inc., Boston Scientific Corporation, DJO Global LLC, Kimberly-Clark Corporation, Smiths Medical, Medtronic, Inc., St. Jude Medical, Inc., Codman And Shurtleff, Inc, Stryker Corporation and Hospira Inc.