According to the latest report published by Credence Research, Inc. “Global Pain Management Devices Market – Growth, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022,” the pain management devices market was valued at USD 3,187.5 Mn in 2015, and is expected to reach USD 6,241.2 Mn by 2022, expanding at a CAGR of 9.8% from 2016 to 2022.
Browse the full report Global Pain Management Devices Market – Growth, Opportunities, Competitive Analysis, and Forecast, 2016 – 2022 report at http://www.credenceresearch.com/report/pain-management-devices-market
Aging global population, rising prevalence chronic pain, cancer and similar such debilitating conditions, and growth in government initiatives in mitigating the threat of chronic pain are the major factors that contribute to the rise in demand for pain management solutions in the global market. The market growth of pain management devices is greatly supported by the increase in patients suffering from cancer, neurological diseases, trauma, arthritis and other inflammatory diseases. Conventional drug based therapies always come with the threat of side effects thus giving rise to R&D efforts for introducing advanced pain management options with higher efficacy and safety and thus pain management devices.
Introduction of infusion pumps for pain management that offer precise drug dosage while simultaneously meeting the need for treatment compliance is a prime factor that suggests the growth of this segment in the near future. Neurostimulation devices for deep nerve stimulation, spinal cord stimulation and others is a major segment to watch for considering the staggering prevalence of neurological conditions. In terms of applications, neuropathic pain is estimated to dominate the market revenue share.
United States (North America) will dominate the global pain management devices through the forecast period followed by followed by Europe. The growth in these regions is supported by high prevalence of chronic and life-style related diseases, and neurological pain. Asia-Pacific on the other hand, is estimated to be the fastest growing regional market during the forecast period. Huge population base, growing awareness, and rapid development of healthcare infrastructure significantly contribute to the growth of Asia-Pacific pain management devices market.
The competition among the market players engaged in neuropathic and musculoskeletal pain segments is high with several market players intensively focusing on development of advanced pain management solutions that exhibit efficacy and safety at competitive prices. Some of the major companies operating in the global pain management devices market are Medtronic, Smiths Medical, St. Jude Medical, Boston Scientific Corp., Stryker Corporation and others.
For More Information, List of Figure, Tables And TOC Visit – http://www.credenceresearch.com/report/pain-management-devices-market
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Web: Credence Research
Company Name: Credence Research
Contact Person: Chris Smith, Global Sales Manager
Email: Send Email
Address:105 N 1st ST #429
City: SAN JOSE
Country: United States