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Pain Management Devices Market (Electrical Stimulators, Radiofrequency Ablation, Analgesic Pumps, Neurostimulation Devices) Is Expected to Reach USD 5.0 Billion Globally in 2018: Transparency Market Research

July 23, 2013

NEW YORK, July 23, 2013 /PRNewswire/ –

According to a new market report published by Transparency Market Research
(http://www.transparencymarketresearch.com), “Pain Management Devices Market
(Electrical Stimulators, Radiofrequency Ablation, Analgesic Pumps, Neurostimulation
Devices) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 -
2018″, in 2011, the global pain management devices market was valued at USD 2.0 billion
and is expected to grow at a CAGR of 13.1% from 2012 to 2018 to reach a market of USD 5.0
billion by 2018.

Browse the full report at

http://www.transparencymarketresearch.com/pain-management-drugs-devices.html

Increased sophistication and technological advances have revolutionized the pain
management sector. Significant research to understand various pain sensations and their
neurotransmission processes has helped in pain reduction to a great extent. A rise in
aging population has consequently led to a rise in chronic diseases such as arthritis,
diabetes and cancer. In addition, serious side-effects caused due to prolonged use of pain
management drugs have triggered the growth of the pain management devices market.

Pain management devices comprise a variety of instruments such as electrical
stimulators, analgesic pumps, radiofrequency ablation and neurostimulation devices. Robust
support from healthcare institutes, universities and hospitals coupled with positive
involvement from government bodies has unquestionably assisted in further growth of this
sector. Companies in this sector are collaboratively working towards the introduction of
innovative products which would satisfy the unmet needs of patients. Moreover, limitations
like miniaturization, achievement of read out time and cost efficiency are being worked on
by all the major players of this market.

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Electrical stimulators especially the TENS (Transcutaneous Electrical Nerve
Stimulators) are currently the most widely used by patients. The market for electrical
stimulators was valued to be USD 208.7 million in year 2011 and is expected to grow at a
CAGR of 8.2% from year 2012 to 2018. Although electrical stimulators and analgesic pumps
are currently the most commonly used devices, radiofrequency ablation (RF ablation) and
neurostimulation devices are anticipated to register high growth rate in the coming years
of forecast. The rise in neuropathic diseases such as trigeminal neuralgia, peripheral
neuralgia and spinal injuries has encouraged the growth of the neurostimulation devices
market, which is slated to grow at a CAGR of 15.2% from 2012 to 2018.

Geographically, the North American region constituted the largest market in the year
2011; however, Asia is predicted to foresee the highest growth rate of 21.7% from 2012 to
2018. This growth has been attributed to increase in disease awareness and rising
disposable incomes. In addition, the Asian region has been predicted to have the highest
incidence rates of cancer and diabetes by 2020, by the World Health Organization.
Favorable reimbursement policies and research funding by governments in the region will
also provide the required impetus for the growth of the market.

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The pain management devices market is predominantly an oligopolistic market and is
ruled by players such as Medtronic Inc, St. Jude Medical, Boston Scientific, Kimberly
Clark and others.

The global pain management devices market has been segmented as below:

Pain Management Market, By Types

        - Electrical Stimulators
             - TENS
             - Others
        - Analgesic Pumps
             - Intrathecal pumps
             - External pumps
        - Radiofrequency Ablation Devices
        - Neurostimulators
             - Spinal Cord Stimulators (SPS)
             - Sacral Nerve Stimulators (SNS)
             - Deep Brain Stimulators (DBS)

Pain Management Market, By Applications

        - Cancer Pain
        - Neuropathic Pain
        - Facial & Migraine Pain
        - Musculoskeletal Pain
        - Trauma

Pain Management Market, By Geography

        - North America
        - Europe
        - Asia
        - Rest of the World (RoW)

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