Pain Management Devices Market

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PAIN MANAGEMENT DEVICES MARKET ANALYSIS

• Pain Management Devices Market, By Product Type
  (Electrical Stimulators (TENS, Others),
  Radiofrequency Ablation, Analgesic
  Pumps(Intrathecal, External), Neurostimulation
  Devices (Spinal Cord Stimulation, Sacral
  Stimulation, Deep Brain Stimulation)), and By
  Region (North America, Latin America, Europe,
  Asia Pacific, Middle East Africa) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027

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•  The global pain management devices market is
  estimated to account for US 17,004.2 Mn in terms
  of value by the end of 2027.
• Global Pain Management Devices Market Drivers
• Increasing prevalence of osteoarthritis is
  expected to propel growth of the global pain
  management devices market over the forecast
  period. For instance, according to the study
  Osteoarthritis in Europe Impact on health
  status, work productivity and use of
  pharmacotherapies in five European countries
  that examined the impact of peripheral joint
  osteoarthritis across five European countries, UK
  (43.6), France, (25.6), Germany, (15.2),
  Spain, (8.4), and Italy (7.1) recorded high
  prevalence of peripheral joint osteoarthritis,
  with majority of cases aging 55-74 years.
• Moreover, increasing geriatric population is also
  expected to aid in growth of the market. For
  instance, according to the United Nations April
  2019 data, the share of geriatric population in
  India is expected to increase to nearly 20 in
  2050.

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Figure 1 Global Pain Management Devices Market
Share () Value, By Region, 2019
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• Market Restraints
• Side effects of pain management devices are
  expected to hinder growth of the market. Use of
  neurostimulators may lead to increased risk of
  infection and conditions where the blood for
  hematoma may leak into the area where the
  neurostimulator is placed. Device complications
  may also require additional surgical intervention
  such as relocation, repair or replacement of
  certain parts.
• Moreover, imposition of an excise duty on medical
  devices is also expected to limit growth if the
  market. For instance, in the U.S., Affordable
  Healthcare for America Act was implemented in
  2010. One of the clauses imposes an excise duty
  of 2.5 on all medical devices

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• Market Opportunities
• Increasing prevalence of cancer is expected to
  offer lucrative growth opportunities for players
  in the global pain management devices market. For
  instance, according to the World Health
  Organization, around 18.1 million new cases and
  9.6 million deaths were registered due to cancer
  worldwide in 2018.
• Moreover, increasing investment RD of devices is
  also expected to aid in growth of the market. For
  instance, in July 2019, Tivic Health Systems, a
  developer of sinus pain relief devices, raised
  US 8 million in seed funding, which will be
  utilized to market the launch of its ClearUP
  device.
• Statistics
• The global pain management devices market was
  valued at US 5,745.0 Mn in 2019 and is forecast
  to reach a value of US 17,004.2 Mn by 2027 at a
  CAGR of 14.7 between 2020 and 2027.

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Figure 2 Global Pain Management Devices
Market Value (US Mn), 2016 2027
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• Market Trends
• Increasing prevalence of neurological disorders
  is boosting growth of the market. For instance,
  according to Public Health Englands Statistical
  commentary dementia profile, April 2019 update,
  in U.K. geriatric population, the prevalence rate
  of recorded dementia was 4.3 per 100 registered
  general practice population in 2018, which
  accounted for 448,300 cases with dementia, 10,200
  more than in 2017.
• Moreover, RD in non-invasive pain treatment
  devices is also expected to aid in growth of the
  market. For instance, in April 2019, researchers
  from the University of Rome Tor Vergata, Rome,
  Italy reviewed the efficacy of the Scrambler
  therapy (ST), which is an electro-analgesia
  therapy for noninvasive treatment of chronic
  neuropathic and cancer pain.

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• Competitive Landscape
• Major players operating in the global pain
  management devices market include, Baxter
  International Inc., B. Braun Melsungen AG, Boston
  Scientific Corporation, Codman and Shurtleff,
  Inc., DJO Global LLC, NeuroMetrix, Inc., Hospira
  Inc., Kimberly-Clark Corporation, Medtronic, Plc,
  Smiths Medical, Axonics Modulation Technologies,
  Inc., NeuroSigma, Inc., and Abbott  
• Global Pain Management Devices Market Key
  Developments
• Major players in the market are focused on
  approval and launch of new devices to expand
  their product portfolio. For instance, in April
  2019, NeuroSigma, Inc. received the U.S. FDA
  marketing approval for its Monarch external
  Trigeminal Nerve Stimulation (eTNS) System for
  the treatment of attention deficit hyperactivity
  disorder. 

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