The global pain management devices market is valued at an estimated USD 3.08 Billion in 2016 and is projected to grow at a CAGR of 8.5%.
A number of factors, such as the growing demand for long-term pain management among the geriatric population, large patient population base, adverse effects of pain medications, development of novel pain management device, established reimbursement scenario for spinal cord stimulation (SCS) devices in developed countries, and high proven efficacy of pain management device for the treatment of chronic pain are driving the growth of the global market.
The global Pain Management Devices Market is segmented by:
Type
Application
Mode of Purchase
Region
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According to the U.S. Department of Commerce, Japan has one of the largest geriatric populations in the world, with at least 20% of its population aged 65 years and above. In 2012, 30 million people in Japan were aged above 65 years and this figure is projected to reach 39 million by 2030 and nearly 43 million by 2050. Driven by its high growth potential, leading companies operating in the market are focusing on expanding their presence in emerging APAC countries. In September 2013, DJO Global announced plans to launch 10 pain management device in India in a phased manner over the next five years. The company also planned to start its operations in India, starting with 40 distribution locations across the country.
Product Analysis:
- Product matrix, which gives a detailed comparison of the product portfolios of each company
Geographic Analysis:
- Further breakdown of the Rest of Asia-Pacific Pain management equipment market into South Korea, Australia, New Zealand, and others
- Further breakdown of the Rest of the World Pain management devices market into Latin America, Middle East, and Africa
Company Information:
- Detailed analysis and profiling of additional market players.
Leading players in the pain management equipment market are focusing on the strategies of new product launch and geographic expansion. These strategies help market players to strengthen their product portfolios, streamline their manufacturing capabilities, expand their distribution networks, and penetrate into high-growth markets.
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