Pain management is a stream of medical sciences that eases the suffering of patients who have chronic pain. The global medical devices market is expected to grow at a CAGR of 7.1% between 2012 and 2017 with revenue of $303 billion, by 2017.
The pain management devices market is expected to grow at a respectable rate. Pain management has gained significance over the last few years as it eases the sufferings of patients, which is the key driver for the market growth.
For example, tech giant Google has entered the pain management market to develop smart contact lenses to monitor glucose levels in diabetic patients. This will save the patients from the pain of pricking their fingers for blood glucose test.
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However, the side-effects of pain management devices are the key restraint for the growth of the market. Skin hypersensitivity, hyper pigmentation and skin redness are some of the common side-effects caused by use of pain management devices.
Additionally, there are some under-treatment pain management issues for chronic diseases such as cancer that prove to be a challenge for the key players. Research and development is underway to overcome this challenge.
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Some of the key players profiled in this report are Baxter International Inc., Boston Scientific Corporation, DJO Global LLC, Kimberly-Clark Corporation, Smiths Medical, Medtronic, Inc., St. Jude Medical, Inc., Codman And Shurtleff, Inc, Stryker Corporation and Hospira Inc.
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