Worldwide Pain Management Devices Market Expected To Reach $ 4.45 Billion By 2020 With A CAGR Of 8.5%

Date: 2016-09-18

The global Pain Management Devices market was estimated at USD$ 2.96 billion in 2015, and is anticipated to reach USD$ 4.45 billion by 2020, expanding at a CAGR of 8.5% between 2016 and 2020. Pain is an unpleasant sensory and emotional experience caused due to tissue damage or illness. It is caused due to injury and various diseases such as osteoarthritis, chronic arthritis, diabetic neuropathy, multiple sclerosis, stomach ulcer, fibromyalgia and cancer. It can be classified on the basis of duration as acute pain and chronic pain.

Pain is defined as highly unpleasant sensation caused by illness and injury. The handling of pain is guided by the history of origin, such as its intensity, duration, aggravating and relieving conditions. In order to diagnose the cause of pain, it must have a nerve supply, be susceptible to injury, and stimulation of the structure that causes pain. The concept behind most interventional procedures for treating pain is that there is a specific structure in the body with nerves of sensation that is generating the pain. Pain management has a role in identifying the precise source of the problem and isolating the optimal treatment. Traditional method includes the common prescription of analgesic. But in modern days, pain management is not only done by medicines but pain management devices are widely used for management of pain.

North America dominates the global market for pain management devices due to large number of aging population and favorable regulatory and healthcare reforms such as the U.S. Patient Protection and Affordable Care Act of 2010. Asia is expected to show high growth rates in the next five years in global pain management device market. China and India are expected to be the fastest growing pain management devices markets in Asia-Pacific region. Some of the key driving forces for pain management devices market in emerging countries are large pool of patients, increasing healthcare expenditure and rising government funding and initiatives. 

Based on the type, the global market of pain management device is bifurcated into nine types: electrical stimulators, TENS, analgesic pumps, intrathecal pumps, radiofrequency ablation devices, neurostimulators, spinal cord stimulators, sacral nerve stimulators, deep brain stimulators and others. In terms of revenue, electrical stimulator accounted for approximately above 35% of total pain management device market in 2015.  Electric stimulator holds the largest share of the market, growing approximately at CAGR of 5.9%. This rise is expected to continue within a forecast period.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520



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