Global Pain Management Devices Market Forecast And Trends Till 2021
Currently available devices for pain management are segmented based on electro therapy devices (TENS and MENS), light therapy devices, ultrasound therapy devices, and others. Application of pain management device is increasing rapidly in sports and rehabilitation activities. Growing awareness about physical fitness and rising prevalence of diseases such as diabetes and cardiovascular diseases has been a driver for more individuals engaging in physical exercise. High prevalence of diabetes globally and its related complications such as neuropathy is also adding to customer base opting for pain management devices. Cancer treatment, arthritis and occupation associated pain are other important factors contributing to the global pain management devices market. According to American Academy of Pain Medicine over 100 million individuals in the U.S. suffer from chronic pain. A research conducted in Europe mentions that women had higher prevalence of chronic pain as compared to men. Head, neck and shoulder, and waist and back were most common anatomies of pain. Considering growing prevalence of cancer, diabetes, arthritis and other disorders, along with aging population, it is estimated that the demand for pain management devices would increase in the future.
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Currently majority of the pain management devices market is dominated by low quality products manufactured by local players. However various global players are also marketing hospital grade products that are more reliable and approved by the regulatory authorities. Pain management infusion pumps are exclusively used to treat chronic neurological pain. With increasing complications and frequent product recalls, the use of pain management infusion pumps is restricted. The pain management devices market is largely dependent on ease of use and non-invasive nature. Upcoming devices also have the flexibility to be controlled through a smartphone that is synchronized with the devices. Although ultrasound pain management devices are mostly used in sports and rehabilitation applications, adoption of light therapy devices is growing among elderly and arthritis patients.
Key players in the pain management devices market include NeuroMetrix, Inc., Medtronic, Inc. Cefaly US, Inc., Axiobionics, Omron, Electromedical Products International, Inc., Sanofi, Physicians Technology, LLC, ZetrOZ Systems, LLC, Bayer A.G. and others.
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Spearhead Acuity Business Research & Consulting Private Limited (SA-BRC) is a premium Life Science business intelligence and data analytics firm. SA-BRC team offers a wide range of business intelligence services to multiple stakeholders such as Medical Device Manufacturers, Service Providers (Hospitals, Payers, etc.), Suppliers, Group Purchase Organizations, Distributors and all other individuals in the entire value chain of healthcare industry. Our research and consulting capabilities extend across several sub-domains within the sphere of Life Sciences such as Biotechnology, Healthcare IT, Medical Devices, Veterinary Sciences, Wellness Products and Pharmaceuticals.
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