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Pain Management Devices Market 2019 To Witness Huge Growth In Upcoming Year

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MRFR Has Projected The Pain Management Devices Market To Attain A Valuation Of USD 5.81 Bn At A CAGR Of 7.2% By The End Of 2023.

Pain management devices are being extensively used to minimize chronic pain in patients. They are used in conjunction with other prescription medicines and other pain management therapies. Market Research Future (MRFR) has thoroughly analyzed the trends and patterns governing the global pain management devices market over the forecast period of 2016-2023 in an in-depth study.

Increase in chronic pain conditions due to the prevalence of various chronic diseases, the rise in global surgical volume, and an increase in medical emergencies induce demand for pain management devices within the market. Besides, continuously growing aging population add to the demand for pain management devices. Chronic pain is more prevalent among the aged demographic due to the occurrence of diseases such as arthritis and diabetes.

Improving reimbursement landscape is favoring the growth of the market. Furthermore, the governments in various countries have endeavored to set up pain rehabilitation centers which help to boost the growth of the market.

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Increased patient awareness regarding the potential dangers of opioids and prescription pain killers have evoked greater consumer interest in pain management devices. The persistent rise in opioid epidemic and pressing need for better pain management, researchers are vigorously searching for alternative methods of pain relief. This has resulted in the development of advanced pain management the technologies which provide enhanced pain relief.

On the contrary, the growth of the pain management devices market might be impeded by side effects associated with pain management devices. Additionally, the high cost of pain management devices is also a major bottleneck to the market growth.

Competitive Landscape
B. Braun Melsungen AG. (Germany), DJO Global LLC (US), St. Jude Medical (US), Stryker Corporation (US), Medtronic Plc (US), Smiths Medical (UK), Hospira Inc. (US), Bio-Medical Research (BMR) Ltd. (UK), Codman and Shurtleff, Inc. (US), Boston Scientific Corporation (US), Baxter International Inc. (US), Kimberly-Clark Corporation (US), and Pain Management, Inc. (US) are the distinguished players in the global pain management devices market.

Industry Updates
April 2019 – Avanos Medical, Inc., a medical technology company, announced that it has received US Food and Drug Administration (FDA) 501(k) clearance for its postoperative pain management device, ON-Q Bolus.

Segmentation
The global pain management devices market has been segmented based on type and application.

By type, the pain management devices market has been segmented into stimulators, pumps, and ablation devices.

The stimulators segment has been further segmented into neuromodulator devices and transcutaneous electrical nerve stimulation (TENS) devices. The neuromodulator devices sub-segment has been further segmented into spinal cord stimulator, intrathecal pain pump, peripheral nerve stimulator, dorsal root ganglion stimulation, and others.

The ablation devices segment has been further segmented into microwave devices, cryoablation devices, and others.

The pumps segment has been further segmented into analgesic infusion pumps and other. The analgesic infusion pumps sub-segment has been further segmented into patient control infusion pumps, external infusion pumps, intrathecal infusion pumps and other.

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