(PharmaNewsWire.Com, February 08, 2017 ) According to Publisher, the Global Pain Management Drugs and Devices market is expected to grow from $39.48 billion in 2015 to reach $58.2 billion by 2022 with a CAGR of 5.7%. Growing various pain disorders coupled with increasing global geriatric people is the major factor propelling the pain management drugs and devices market. Furthermore, rapid technological developments, growing healthcare industry across the globe are some of the factors boosting the market growth. However, intensified competition between companies and lack of skilled professionals are the factors inhibiting the market growth.
The Neuromodulation device leads the market globally with the biggest market share and is expected to grow with a high CAGR during the forecast period. The growth of this segment is attributed to increasing chronic back pain. By drugs, opiods segment commands the market accounting for more than 42% of the total market. North America is anticipated to hold the largest share in global pain management drugs and devices market due to increasing demand from U.S. and Asia Pacific is likely to grow at a fastest rate during the forecast period.
Some of the key players in global pain management drugs and devices market include Abbvie Inc., Astrazeneca Depomed Inc., B. Braun Melsungen AG, Becton, Dickinson and Company, Boston Scientific Corporation, Eli Lilly & Co., Glaxosmithkline, Halyard Health, Inc., Hisamitsu Pharmaceutical Co. Inc, Johnson & Johnson, Medtronic Inc., Medtronic PLC, Neurotech Na, Inc. (A Subsidiary of Theragen LLC), Nevro Corp., Novartis International Ag, Pfizer, Purdue Pharmaceuticals Lp, Smiths Medical, and ST. Jude Medical, Inc.
Applications Covered: - Cancer Pain - Facial Pain and Migraine - Musculoskeletal Pain - Neuropathic Pain - Other Applications o Post-operative Pain o Pregnancy/Labor and Menstrual Pain o Sports Injuries o Trauma Pain
Mode of Purchase Covered: - Prescription-based Devices - Over-the-counter Devices
Regions Covered: - North America o US o Canada o Mexico - Europe o Germany o France o Italy o UK o Spain o Rest of Europe - Asia Pacific o Japan o China o India o Australia o New Zealand o Rest of Asia Pacific - Rest of the World o Middle East o Brazil o Argentina o South Africa o Egypt
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