Global pain management devices market has been segmented on the basis of type (neurostimulation devices, ablation devices, and analgesic infusion pumps), applications(neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others), mode of purchase (over-the-counter and prescription-based pain management devices), and region (North America, Europe, Asia-Pacific, and Rest of the World).
Complete report on Pain Management Devices Market spread across 198 Pages, Profiling 11 Companies and Supported with 117 Tables and 43 Figures is now available at http://www.reportsnreports.com/reports/591996-pain-management-devices-market-by-device-type-neurostimulation-scs-tens-rf-ablation-infusion-pumps-application-cancer-neuropathy-musculoskeletal-migraine-facial-by-mode-of-purchase-otc-prescription-based-global-forecasts-to-2021.html
Target Audience of this study report is as follows
- Pain Management Devices Manufacturing Companies
- Distributors and Suppliers
- Government Bodies
- Research Institutions and Universities
- Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs)
Global pain management devices market is estimated to grow at a CAGR of 8.5% from 2016 to 2021 to reach USD 4.64 Billion by 2021. Growth in this market is primarily driven by factors such as presence of a large patient population base and adverse effects associated to use of pain medications.
Asia-Pacific region has become an attractive destination for companies engaged in the manufacture of pain management devices. 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 region, growing middle-class population and disposable income levels, and rising awareness about the safety and efficacy of pain management devices market. According to U.S. Department of Commerce, Japan has one of largest geriatric populations in world, with at least 20% of its population aged 65 years and above.
Global pain management devices market was dominated by Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.), which together accounted for more than 50% of the market.
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Leading players in pain management devices market are focusing on 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.
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 pain management devices market are focusing on expanding their presence in emerging APAC countries. In September 2013, DJO Global announced plans to launch 10 pain management devices in India in a phased manner over the next five years. Company also planned to start its operations in India, starting with 40 distribution locations across the country.
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On basis of applications, 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). Neuropathic pain segment is estimated to witness highest growth during forecast period, primarily due to high prevalence of diseases resulting in neuropathic pain.
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