(PharmaNewsWire.Com, December 15, 2017 ) The Pain Management Devices Market was worth USD 3.11 billion in 2016, and is expected to grow at a CAGR of 8.6%, to reach USD 4.7 billion by 2021. Pain is caused due to the unpleasant sensory stimulation caused due to damage to the tissues by any means. It is majorly caused by injuries as well as in case of diseases such as arthritis, ulcers, cancer and multiple sclerosis. Acute pain is caused for very short period of time whereas chronic pain is persistent for extended time periods.
Several drugs and devices are available in the market to assist in pain management. These devices work by blocking the nerve stimulators by transmitting the unpleasant sensory experience to the brain. Neurostimulation devices, ablation devices and analgesic infusion pumps are some of the pain management devices. Neuro stimulators block pain by supplying certain frequencies of current to prevent the passage of signals.
Increase in demand for alternatives for pain management drugs which cause many side effects, large number of patients with chronic diseases especially in geriatric population and technological advancements to develop better pain management devices are expected to drive the market. Increase in cancer patients and increase in neuropathic diseases are also boosting the pain management devices market. However, side effects associated with the use of these devices such as hyper sensitivity and redness of skin and high manufacturing costs are restraining the market.
The global pain management devices market is categorized based on device type, application, mode of purchase and region. On the basis of device type, the market is categorized into neurostimulation devices, ablation devices and analgesic infusion pumps. Neurostimulation devices are again categorized into Transcutaneous Electrical Nerve Stimulation devices and Spinal Cord Stimulation devices. Ablation devices are again categorized into Radiofrequency ablation devices and cryo ablation devices. Analgesic infusion pumps are again categorized into intrathecal infusion pumps and external infusion pumps. Neurostimulation devices hold the largest market share due to their extensive usage in chronic pain management. On the basis of application, the market is categorized into Neuropathic pain, Facial pain and migraine, musculoskeletal pain, cancer pain and other pains. On the basis of mode of purchase, the market is categorized into over the counter purchase and prescription based purchase.
On the basis of region, the pain management devices market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominates the global pain management devices market due to the growing number of people using these devices and also due to the development of healthcare infrastructure in this region. Asia Pacific market is expected to grow at a rapid pace due to the large number of aging population in this region.
Some of the major companies in the market are St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic plc, Baxter international, Stryker corporation, Pfizer, Codman and Shurtleff, B Braun Melsungen AG and DJO Global LLC.
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