IQ4I Research & Consultancy published a new report on “Pain Management and Surgical Devices Global Market – Forecast To 2025”

According to International Association for the Study of Pain (IASP), pain is an unpleasant sensory and emotional experience associated with actual or potential tissue damage. Pain is classified as acute and chronic pain depending on how long the pain lasts. Acute pain occurs suddenly due to disease, injury, or inflammation and disappears when the cause of pain is no longer exists. Some of the causes of acute pain are trauma, surgery, broken bones, burns and cuts. Chronic pain is a persistent pain that usually lasts longer than six months. Some of the chronic pain conditions are migraine, cancer pain, neuropathic pain, musculoskeletal pain and arthritis pain. Pain is not always completely curable, but can be treated with pain management devices and surgery. The pain management devices such as spinal cord stimulators, peripheral nerve stimulators, TENS and NMES uses low electricity to block pain signals passing from nerve to brain and minimize the pain. Surgical procedures such as kyphoplasty, vertebroplasty and implant devices like spacers, screws and artificial discs are used to treat back pain caused by degenerative disc disease. The ablation procedures such as radiofrequency ablation and cryoablation are used to treat chronic pain and cancer pain by damaging pain causing nerve tissue.

According to IQ4I Analysis, pain management and surgical device global market is expected to grow at a high single digit CAGR to reach $8,824.7 million by 2025. Increase in the prevalence of chronic diseases and pain disorders, rise in aging population, and adverse effects of opioids, are driving the market. Availability of reimbursement, stringent regulations to limit the opioids use and technological advancements are some of the opportunities of the market. However, contraindications and complication with the implantations of neuromodulation devices, the high cost of devices are some of the restraints of the market. Stringent regulatory requirements for the product approval and availability of alternate products are some of the threats to the pain management and surgical device market.

Pain management and surgical devices market is classified based on product, application, end-user and region. The Product’s market is classified into pain devices and pain surgeries, wherein the pain devices segment accounted for the largest share in 2018 and is projected to grow at a high single digit CAGR from 2018 to 2025. Pain devices are further classified into internal pain devices and external pain devices. Among these internal pain devices accounted for the largest share in 2018 and projected to grow at a high single digit CAGR from 2018 to 2025.

Pain management and surgical devices global market based on application is divided into neuropathic pain, cancer pain, Failed back surgery syndrome, musculoskeletal disorders and others. Musculoskeletal disorders segment accounted for the largest share in 2018 and is expected to grow at a high single digit CAGR from 2018 to 2025, due to increase in the prevalence of musculoskeletal disorders.

The pain management and surgical devices global market based on End - user is divided into Hospitals, ambulatory surgery centers, pain management centers and others. Hospitals accounted the largest share in 2018 and expected to grow at a high single digit CAGR from 2018 to 2025. Availability of skilled persons and availability of technically advanced devices led the market growth in this segment.

The pain management and surgical devices global market based on geography is divided into North America, Europe, Asia-Pacific and Rest of the world. North America region commanded the largest share in 2018 and is expected to grow at a mid single digit CAGR. A high prevalence of chronic conditions such as back pain, orthopaedic pain, cancer pain, migraine and growth in aging population and adverse effects of opioids led the market growth in this region. However, Asia-Pacific is expected to grow at a high single digit CAGR from 2018 to 2025 owing to the rapidly increasing aging population with high prevalence of chronic conditions, improving healthcare infrastructure and rise in healthcare spending in the emerging countries, such as India and China.

Technological advancements like wireless technology in neuromodulation, Miniaturization, and convergence technologies will drive the market. The new products such as Dorsal root ganglion stimulator, deep brain stimulator and peripheral nerve stimulator are FDA approved products, which are used to treat various chronic pain conditions. The Winner EVO, an external pain device and is an example for technological convergence, which combines Electro therapy, Cold laser therapy, ultrasound therapy and Light therapy, developed by Rich-Mar, Inc. (U.S.).

The pain management and surgical device market is consolidated with top five players occupying major share of the market. The top players in the market are Medtronic PLC. (Ireland), Abbott Laboratories (U.S.), Boston scientific corporation (U.S.), Johnson and Johnson (U.S.) and Nevrocorp (U.S.) which control the major share of the market, as these companies focus on strong distribution network, patents, acquisitions, approvals and product launches. For instance, in July 2018, J&J (DePuy synthes), launched its product Concord Lift expandable interbody device in U.S. The device is designed for the treatment of patients with degenerative disk disease.

The companies in this segment are coming up with new technological advancements to maintain their leadership status in pain management and surgical devices market. Intellis implantable neurostimulator is a world’s smallest implantable devices developed by Medtronic PLC. (Ireland). Abbott Laboratory (U.S.) is the only company which providing dorsal root ganglion system to treat chronic pain.

Major players in Pain management and surgical Device market include Abbott Laboratories (U.S.), Boston Scientific corporation (U.S.), Medtronic, Plc. (Ireland), Nevrocorp (U.S.), Nuvectra (U.S.), Stryker corporation (U.S.), Avanos medicals (Halyard health Inc.) (U.S.), Johnson and Johnson (DePuy Synthes) (U.S.), Merit medicals system (U.S.), Inc., DJO Finance Ltd. (Chattanooga) (U.S.).

Some of the other companies operating in Pain management and Surgical Device market are BMK global medical (U.S), Globus medical (U.S.), Biomedical research Ltd (Ireland), Cefaly technologies (U.S.), ElectroCore Medical LLC (U.S.), Electromedical products international, Inc, (U.S.), eNeura, Inc. (U.S.), Iskara medicals d.o.o (Solvenia), Stimwave LLc. (U.S.), Zynex medicals (U.S.), Zetroz systems, LLc. (U.S.), GymnaUniphy NV. (Belgium), Evomed (Australia), Neuros medicals, Inc. (U.S.), Johari Digital Healthcare Ltd (India), Zealmax Innovations Pvt. Ltd. (India), Bioness (U.S.), Mainstay Medical International PLC (Ireland), SPR Therapeutics (U.S.), Stimwave, LLC. (U.S.), Neuroimpulse (Italy).

For more information please follow the link:
https://www.iq4i.com/reports-category/medicaldevices/r/181

IQ4I (Intelligence Quotient for Innovation) Research and Consultancy Pvt. Ltd. is a global strategy, consulting and a leading market research company. Our clients include leading businesses, investment banks, researchers and government agencies.

We are a team of highly qualified consultants and market researchers, committed to help clients make strategic decisions by providing relevant and firmly reliable market intelligence support. We enable our clients to identify the market opportunities with best-in-class market intelligence reports.

IQ4I Research & Consulancy Pvt. Ltd.
No 41/P4, Industrial Suburb
1st Floor, 3rd Main Road
1st Phase, KIADB Industrial Area
Peenya, Bangalore-560058

This release was published on openPR.