Pain Management Devices Market Dynamics Rising Incidence Of Cancer Till 2022

Pain Management Devices Market Dynamics Rising Incidence Of Cancer Till 2022 “The pain management devices market was estimated to be USD 3.18 billion globally in 2014. This can be attributed to increasing geriatric population along with rising number of population suffering from diabetes.�

The Pain Management Devices Market was estimated to be USD 3.18 billion globally in 2014. This can be attributed to increasing geriatric population along with rising number of population suffering from diabetes.

According to estimates published by International Diabetes Federation, the prevalence of diabetes is predicted to increase to 552.0 million by 2030 from 355.0 million in 2011 globally.

The increasing incidence of diabetes makes a huge population base susceptible towards development of chronic pain which is expected to drive the growth. The market is primarily driven by aging population base which is more prone to develop various chronic disorders. These chronic disorders include diabetes, cancer and cardiovascular disorders accounting for over 87.0% of disease burden in geriatric population.

In addition, there has been an increasing prevalence of cancer accompanied with chronic pain and serves as a potential contributor towards high potential growth. The trauma is a result of compression of a nerve by tumor and other factors which can be subsided with the use of these devices. According to estimates, over 20.0 to 50.0% of patients suffer from acute pain during diagnosis and about 75.0% as the disease progresses.

Type Insights The products included in the market are neurostimulation devices, analgesic infusion, electrical stimulators and others. The market was dominated by neurostimulation implants such as sacral neurostimulators, deep brain stimulators, spinal cord stimulators in 2014 having revenue share of over 48.9%. This can be attributed to the wide array of applications of these implants in stimulation of vagus nerve, scaral nerve, deep brain, spinal cord, respiratory and others. When compared to traditional methods, neurostimulation implants are more efficient owing to their ability to produce sustained reduction in pain threshold.

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Moreover, the adverse effects associated with traditional medicine therapy will contribute to the shifting focus towards usage of neurostimulation implants. On the contrary, it is expected that radiofrequency ablation devices will witness a lucrative growth throughout the forecast period. This growth can be as consequence of the extensive use of these devices for treatment of varicose veins, cardiac disease and tumors. The effect of ablation therapy lasts for around 6 to 12 months making it the most effective treatment.

Radiofrequency ablation products are also used for treatment of neuropathic, musculoskeletal and cancer pain.

Browse Full Research Report @ https://www.millioninsights.com/industry-reports/pain-management-devices-market Application Insights The major applications include trauma, musculoskeletal disorders, migraine and facial, neuropathic and cancer, which can be accessed through neurostimulation products. A substantial share was held by neurostimulation devices owing to the efficient results achieved by stimulation of spinal cord. Additionally, these products also have various benefits such as stimulation of customized level based on the activities done by the individual in a day. These show their action by inducing cell necrosis by temperature thermal therapy.

Regional Insights The market was dominated by North America with a revenue share of around 49.5% in 2014. The dominance can be as a consequence of supportive healthcare infrastructure which helps in increasing accessibility of pain management devices. Moreover, initiatives by government such as Affordable Care Act and Precision Medicine along with favorable reimbursement policies contribute to the regional growth. Also, increasing awareness level amongst individuals coupled with high healthcare expenditure is predicted to broaden the growth potential.

A lucrative growth is expected to be witnessed by Asia Pacific throughout the forecast period as a consequence of supportive governmental policies for improvement in healthcare infrastructure. Also, emerging economies such as China and India have high disposable incomes and is anticipated to drive the demand.

Competitive Insights

Prominent players include Stryker Corporation, St. Jude Medical, Smiths Medical, Medtronic Plc, Pfizer, DJO Global LLC, Codman and Shurtleff, Boston Scientific Corporation, Baxter International Inc., Melsungen AG., and B Braun. Key strategies include acquisitions, mergers and alliances to provide a competitive edge.

For instance, Spinal Modulation Inc., developer of axium neurotransmitter system, which helps in targeting neural structure in spine, was acquired by St. Jude Medical in May 2015 which is predicted to strengthen product portfolio of the company.

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