Pain Management Devices Market Segmented by Regions, Types and Applications with Forecast Report from 2019 – 2022

02nd July 2020 – The Pain Management Devices Market was estimated to be USD 3.18 billion globally in 2014. This can be attributed to increasing geriatric population along with rising number of population suffering from diabetes. According to estimates published by International Diabetes Federation, the prevalence of diabetes is predicted to increase to 552.0 million by 2030 from 355.0 million in 2011 globally.

The increasing incidence of diabetes makes a huge population base susceptible towards development of chronic pain which is expected to drive the growth. The market is primarily driven by aging population base which is more prone to develop various chronic disorders. These chronic disorders include diabetes, cancer and cardiovascular disorders accounting for over 87.0% of disease burden in geriatric population.

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Type Outlook (Revenue, USD Million, 2012 – 2022)

  • Electrical Stimulators
  • TENS(Transcutaneous Electrical Nerve Stimulators)
  • Others
  • Radiofrequency Ablation
  • Intrathecal Infusion Pumps
  • External Infusion Pumps
  • Analgesic Infusion Pumps
  • Neurostimulation
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Neurostimulators

Application Outlook (Revenue, USD Million, 2012 – 2022)

  • Cancer Pain
  • Neuropathic Pain
  • Facial Pain & Migrane
  • Musculoskeletal Disorders
  • Trauma

Prominent players include Stryker Corporation, St. Jude Medical, Smiths Medical, Medtronic Plc, Pfizer, DJO Global LLC, Codman and Shurtleff, Boston Scientific Corporation, Baxter International Inc., Melsungen AG., and B Braun. Key strategies include acquisitions, mergers and alliances to provide a competitive edge.

For instance, Spinal Modulation Inc., developer of axium neurotransmitter system, which helps in targeting neural structure in spine, was acquired by St. Jude Medical in May 2015 which is predicted to strengthen product portfolio of the company.

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The market was dominated by North America with a revenue share of around 49.5% in 2014. The dominance can be as a consequence of supportive healthcare infrastructure which helps in increasing accessibility of pain management devices. Moreover, initiatives by government such as Affordable Care Act and Precision Medicine along with favorable reimbursement policies contribute to the regional growth. Also, increasing awareness level amongst individuals coupled with high healthcare expenditure is predicted to broaden the growth potential.

A lucrative growth is expected to be witnessed by Asia Pacific throughout the forecast period as a consequence of supportive governmental policies for improvement in healthcare infrastructure. Also, emerging economies such as China and India have high disposable incomes and is anticipated to drive the demand.

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