Title: Pain Management Devices Market Size, Share, Trends, Industry Analysis and Forecast to 2024
1Pain Management Devices Market size is projected
to experience significant growth from 2017 to
2024. Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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2Regional Analysis of Pain Management Devices
Market
- Increasing elderly population is a pivotal factor
driving pain management devices market. As per
WHO, the global population aged 60 years and
above is expected to reach 2 billion by 2050 from
900 million in 2015. - Increasing age is directly linked to rising
prevalence of age related chronic disorders such
as cancer, musculoskeletal and neurological
disorders requiring pain management devices. - Favorable reimbursement policies in developed
countries, rising awareness among patients about
neuropathic pain treatment and technological
advancements for developing novel devices to
reduce pain are major factors accelerating the
industry growth. - High cost of devices and side-effects caused such
as skin allergy, hyper pigmentation and redness
can restrain the pain management devices market
size during the forecasted period.
3- Neurostimulation devices market is expected to
witness lucrative growth owing to benefits
offered such as long-term efficiency to provide
relief from chronic pain coupled with established
insurance coverage for these products in
developed countries. - The segment is categorized into spinal cord
stimulation (SCS), transcutaneous electric nerve
stimulation (TENS), deep brain and sacral neuro
stimulators. - Radiofrequency ablation devices market will
exhibit healthy growth rate in the coming years
due to wide application in managing cancer pain
and various cardiac diseases. Analgesic infusion
pumps market including intrathecal and external
pumps will show prominent growth in the future. - Neuropathy pain market will witness tremendous
growth in the future due to growing elderly
patient pool, increasing prevalence of chronic
disorders leading to chronic and acute pain.
4Competitive Market Share of Pain Management
Devices Market
- Based on the mode of purchase, the industry is
bifurcated into prescription-based and
over-the-counter (OTC) devices. - The prescription-based segment holds the major
industry share whereas the OTC segment will
witness tremendous growth during the forecast
timeline due to higher availability and awaiting
FDA approvals for new products. - U.S. will drive the pain management devices
market size over the forecast timeframe owing to
the rising awareness among the increasing elderly
patient pool, established healthcare
infrastructure and technological advancements. - France and Germany are two vibrant countries of
Europe accelerating the business due to
increasing prevalence of chronic diseases and
growing elderly population.
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