Pain Management Devices Market 2022 Outlook, Current and Future Market Landscape Analysis 2031
Pain Management Devices Market – Overview
Progress in technology and better research capabilities have
led to the development of devices that can control pain with limited use of
drugs. Focused Market reports connected to the healthcare sector among others
lately have been made available by Market Research Future which publishes a
report on this sector.
The industry for Pain
Management Devices Market is expected touch revenue levels worth $5.81
billion by the year 2023 while expanding with a CAGR of 7.2 per cent.
The development of pain management devices has been useful
to control pain in a wide range of ailments. The level of relief from pain that
is experienced, is one of the major driving factors for the industry, as
patients who use such devices are prone to chronic pain on a daily basis.
Cancer patients and the geriatric population are among the major user segments
for the pain management devices as medication alone may not be sufficient to
provide pain relief in their situation. The industry is anticipated to
demonstrate a good growth rate through the forecast period.
Pain Management, Inc (US), Baxter International Inc.
(US), Medtronic Plc (US), St. Jude Medical (US), Boston Scientific Corporation
(US), Codman and Shurtleff, Inc. (US), Stryker Corporation (US), Bio-Medical
Research (BMR) Ltd. (UK), Hospira Inc. (US), Kimberly-Clark Corporation (US),
Smiths Medical (UK), DJO Global LLC (US) and B. Braun Melsungen AG. (Germany)
are a few of the key players in the industry for pain management device
industry.
Industry Segments
The industry for pain
management solution is segmented into the segments of type and
application. On basis of type, the market segment comprises of
stimulators, ablation devices and pumps. The ablation devices are moreover
divided into microwave devices and cryoablation devices among others. The
stimulators are sub segmented into neuromodulator devices and transcutaneous
electrical nerve stimulation devices. The neuromodulator devices are
additionally sub segmented into intrathecal pain pump, spinal cord stimulator,
dorsal root ganglion stimulation and peripheral nerve stimulator among others.
The pumps are additionally sub divided into analgesic infusion pumps and
others. The analgesic infusion pumps are also segmented into patient control infusion
pumps, external infusion pumps, intrathecal infusion pumps among others.
Lastly,
on the basis of application, the segments comprise of
migraine, musculoskeletal pain, cancer pain, and others.
Global Competitive Analysis
Competitors who are a part of the industry have devised
their corporate strategy blueprint in a way that that can bring the best
outcomes for development in the current scenario, while also simultaneously
delivering customer value unfailingly. The ability to sustain their competitive
edge is one of the main causes fuelling their efforts in this period. The scope
for development in the industry appears to be promising through the forecast
period. The rising interest for diversification in the industry, has indirectly
allowed the players to utilize many prospects available in the industry. This
scenario has created opportunities for portfolio improvements along with
diversification in the sector, which has improved the scenario for market
competitors tremendously in this industry. The organizations in this industry
are also trying to enhance and maintain financial liquidity that can be crucial
to invest in growth opportunities as and when they become available.
Detailed Regional Analysis
The regional analysis for the pain management devices market
covers regions such as Europe, North America, Asia Pacific and rest of the
world. The North American region is the chief region for devices that control
pain management followed by the European region. The expansion of the industry
is supported by huge investments and development in research along with new
product development. The degree of development and research in neurostimulation
based pain management devices has secured the expansion of the sector. The Asia
pacific region is a quickly growing region for the pain management devices.
Owing to a huge population base, the expansion in infrastructure and rising
occurrence of many diseases in the region has created a better impetus for the
expansion of the industry.
Browse Full Report: https://www.marketresearchfuture.com/reports/pain-management-devices-market-1504
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