Feb 26, 2020: The global pain management devices Market is set to grow at an exponential CAGR by the year 2028 attributed to a growing emphasis on expanding the product portfolios. The demand for pain management device market is majorly driven by the continuously up scaling geriatric population. Fixed battery life, limitations in power output and its frequency levels are the major drawbacks of these devices, which is hampering the market growth.
The market has recognized a trifurcation into pumps, simulators, and ablation devices based on the product type. The simulator industry has been further segmented into transcutaneous electrical nerve stimulation (TENS) devices and neuromodulator devices. Cryoablation devices microwave devices and others have been identified as the primary segmentation of ablation devices. Pumps are categorized into analgesic infusion type and other. Analgesic infusion pumps sub-segmented into external infusion pumps and intrathecal infusion pumps.
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Based on application or end-user, the pain management devices market has been segmented into cancer pain, migraine, musculoskeletal pain, and others. The pain management devices market, by mode of purchase, has been divided into an over-the-counter device and prescription-based device type.
The comprehensive overview of the pain management devices market has acknowledged North America, Latin America, the Middle East & Africa, Europe and the Asia Pacific as the key regions. The Asia Pacific region has been regarded as an attractive destination for key contenders who are imploring to expand the global market space. Japan and China have been attributed as the largest aged population concentrated countries in the world, which has made them the major pursuit of market expansion. India has been positioned to be the fasted growing country in terms of building healthcare infrastructure and R&D activities. DJO Global in the year 2013 announced their upcoming objective of launching more than 10 pain management device distribution location, attributed to the high growth opportunities in the country.
Some of the major contenders functioning in the pain management devices market include Medtronic, Inc., Boston Scientific Corporation, Baxter International, Inc., DJO Global LLC., St. Jude Medical, Inc., Kimberly-Clark Healthcare, Pain Management, Inc., and Stryker Corporation among others. Other prominent vendors comprise Baxter Healthcare Corp. , BioMedical Life Systems, Inc., B. Braun Melsungen AG, CME Medical, Bio-Medical Research (BMR) Ltd, GF Health Products, Inc., NeuroTherm, Inc., Smiths Medical, Stryker Corp., Codman And Shurtleff, Inc., Flowonix Medical, Inc., Hospira, Inc., Omron Healthcare Co. Ltd, Sorenson Medical Products, Inc., and Zynex Medical, Inc. The key players are keen on developing the most advanced pain management systems for catering bulking demand across the end-user segments. This has characterized an enormous competition among the market players involved in building an efficient healthcare infrastructure and is significantly contributing to the market growth.
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Pain management device manufacturing companies, government bodies, key vendors, major distributors and suppliers, contract manufacturing organizations (CMOs) and contract research organizations (CROs), research institutions and universities, etc. have been identified as the primary stakeholders of the pain management devices market.
Quell is a wearable, electrical nerve trainer stimulating the peripheral nerves leading to instant pain relief. This device stipulates the activity of sensory nerves, thus, initiating a pain derogation carried by nociceptive afferents. Over the past 20 years, electrical stimulation has determined a dynamic range of effective clinical implication. The Quell technology has created a sophisticated and non-invasive simulation device for treating chronic pain.
SCS, neuromuscular stimulation, and peripheral nerve stimulation have been ascribed as the latest technologies developed for neurostimulation. It is a minimally invasive method of vagal nerve therapy that allows programming of specialized stimulation pulse patterns to substantially reduce neuropathic pain.
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