Global Pain Management Devices Market Overview:
Pain management can be easy or complex, depending on the cause of the pain. An example of pain which is typically less complex would be nerve root irritation from a herniated disc with pain radiating down the leg. This situation can often be alleviated with an epidural steroid injection and physical therapy. Sometimes, still, the pain does not go away which require a wide variety of skills and techniques to treat the pain. The pain management devices help in treating various painful conditions such as cancer, musculoskeletal injury and neuropathic pain. Some of the key players profiled in the study are Medtronic PLC (Ireland), ST. Jude Medical, Inc. (United States), Boston Scientific Corporation (United States), Hospira, Inc. (United States), Halyard Health, Inc. (United States), Smiths Medical (United States), B. Braun Melsungen AG (Germany), Neurotech Na, Inc. (United States), Becton, Dickinson and Company (United States) and Nevro Corp. (United States).
On the basis of geography, the market of Pain Management Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mode of Purchase, the sub-segment i.e. Over-The-Counter will boost the Pain Management Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Demand for Long-Term Pain Management among the Geriatric Population
- Adverse Effects of Pain Medicines
- High Proven Effectiveness of Pain Management Devices for the Treatment of Chronic Pain
Market Trend
- Growing Popularity of Rechargeable Spinal Cord Stimulators
- Development of New Pain Management Devices
Restraints
- Low Awareness about the Use of Pain Management Devices
- Dearth of Pain Specialists and Low Number of Pain Clinics in Several Countries
Opportunities
- High Growth in Number of Patients Suffering From Neuropathic Pain
- Strict Regulations to Limit Opioid Pain Killer Prescriptions
Challenges
- Availability of Alternative Therapies for Pain Management
On May 9, 2019 - Boston Scientific was announced that it has entered into a definitive agreement to acquire Vertiflex, Inc., a privately-held company which has developed and commercialized the Superion Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis (LSS).
Target Audience:
Manufacturers of Pain Management Devices, Suppliers of Pain Management Devices Parts, Wholesalers, Distributors and Retailers of Pain Management Devices, Healthcare Industry, Governmental Bodies and Research Firms
Major Objectives Focused through this Study
To define, describe, and forecast the Global Pain Management Devices market on the basis of product [Electrical Stimulators, Radiofrequency Ablation, Analgesic Infusion Pumps and Neurostimulation] , application [Neuropathic Pain, Cancer Pain, Facial Pain & Migraine, Musculoskeletal Pain and Other], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Pain Management Devices market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Pain Management Devices industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Bio-Medical Research (BMR) Ltd. (Ireland) and Baxter International Inc. (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Pain Management Devices market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.