Global pain management devices market dominated by Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.), which together accounted for more than 50% of market. New pain management devices market product launches, partnerships, agreements, & collaborations are major strategies adopted by market players to strengthen their presence & increase their share in pain management devices market.
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Global pain management devices market is estimated to grow at a CAGR of 8.5% from 2016 to 2021 to reach USD 4.64 Billion by 2021. Asia-Pacific region has become an attractive destination for companies engaged in the manufacture of pain management devices.
High growth opportunities in this regional segment can be attributed to a number of factors, including growing incidence of chronic diseases, improving healthcare infrastructure in region, growing middle-class population and disposable income levels, and rising awareness about the safety and efficacy of pain management devices market.
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2 Market Share Analysis
3 Key Players in the Market
4 Competitive Situation and Trends
5 New Product Launches and Product Approvals
6 Agreements, Alliances, and Contracts
7 Geographical Expansions
8 Mergers & Acquisitions
9 Other Developments
Pain management devices market is categorized into neurostimulation devices (transcutaneous electrical nerve stimulation (TENS) and spinal cord stimulation (SCS)), ablation devices (RF ablation and cryoablation), and analgesic infusion pumps (intrathecal and external infusion pumps). The neurostimulation devices segment is expected to account for the largest share of the market in 2016.
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Pain management devices market is segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and other applications (pregnancy/labor and menstrual pain, sports injuries, post-operative pain, and trauma pain). Neuropathic pain segment is estimated to witness highest growth during the forecast period, primarily due to high prevalence of diseases resulting in neuropathic pain.
Target Audience of this study report is as follows
- Pain Management Devices Manufacturing Companies
- Distributors and Suppliers
- Government Bodies
- Research Institutions and Universities
- Contract Research Organizations (CROs) and Contract Manufacturing Organizations (CMOs)
Leading players in pain management devices market are focusing on strategies of new product launch and geographic expansion. These strategies help market players to strengthen their product portfolios, streamline their manufacturing capabilities, expand their distribution networks, and penetrate into high-growth markets.
Pain management devices market has been segmented on basis of type (neurostimulation devices, ablation devices, and analgesic infusion pumps), applications(neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others), mode of purchase (over-the-counter and prescription-based pain management devices), and region (North America, Europe, Asia-Pacific, & Rest of the World).
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