Press release
Pain Management Devices Market : Recent Industry Trends and Projected Industry Growth, 2015 - 2021
North America dominates the global market for pain management devices due to large number of aging population and favorable regulatory and healthcare reforms such as the U.S. Patient Protection and Affordable Care Act of 2010. Asia is expected to show high growth rates in the next five years in global pain management device market. China and India are expected to be the fastest growing pain management devices markets in Asia-Pacific region. Some of the key driving forces for pain management devices market in emerging countries are large pool of patients, increasing healthcare expenditure and rising government funding and initiatives.
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In recent times there is increased use of pain management devices due to rise in aging population. Increase in cancer population, increasing prevalence of lifestyle associated disease and increasing neuropathic disorders are some of the key factors driving the growth for the global pain management devices market. In addition, increasing healthcare awareness and rise in healthcare expenditure are also fuelling the growth of global pain management devices market. However, side effects such as skin hypersensitivity, redness and hyper-pigmentation and availability of substitutes such as pain relief medications are some of the major factors restraining the growth for global pain management devices market.
Technological advancement of pain management devices would develop opportunity for the global pain management devices market. However, high cost involved in manufacturing of pain management device could lead a challenge for the global pain management devices market. Increasing demand of spinal cord stimulation device for neuropathic, chronic and refractory pain is the trend for the global pain management devices market. Some of the major companies operating in the global pain management devices market are Medtronic, Inc., B. Braun Melsungen AG., Boston Scientific Corporation, Hospira, Inc., Baxter International, Inc., DJO Global LLC., St. Jude Medical, Inc., Bio-Medical Research Ltd., Smith Medical, Pain Management, Inc., Kimberly-Clark Healthcare and Stryker Corporation.
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