Pain management is a stream of medical sciences that eases the suffering of patients who have chronic pain. The global medical devices market is expected to grow at a CAGR of 7.1% between 2012 and 2017 with revenue of $303 billion, by 2017. The pain management devices market is expected to grow at a respectable rate. Pain management has gained significance over the last few years as it eases the sufferings of patients, which is the key driver for the market growth. For example, tech giant Google has entered the pain management market to develop smart contact lenses to monitor glucose levels in diabetic patients. This will save the patients from the pain of pricking their fingers for blood glucose test.
However, the side-effects of pain management devices are the key restraint for the growth of the market. Skin hypersensitivity, hyper pigmentation and skin redness are some of the common side-effects caused by use of pain management devices. Additionally, there are some under-treatment pain management issues for chronic diseases such as cancer that prove to be a challenge for the key players. Research and development is underway to overcome this challenge.
Some of the key players profiled in this report are Baxter International Inc., Boston Scientific Corporation, DJO Global LLC, Kimberly-Clark Corporation, Smiths Medical, Medtronic, Inc., St. Jude Medical, Inc., Codman And Shurtleff, Inc, Stryker Corporation and Hospira Inc.
- The in-depth analysis provides market intelligence with respect to segments based on types, applications and geographies to enable precise decision making
- The detailed analysis of the impact of top factors impacting the growth of the market for the short and medium term
- Value chain analysis provides key inputs on the role of all stakeholders of the market
- Porter’s five force analysis provides the potency of suppliers & buyers, threat of new entrants & substitutes along with competitive scenario of the market
- SWOT analysis and recent developments of key players are included in the report so that companies can understand the strategies adopted by competitors and make required changes to their plans
- Estimations are calculated according to the current market scenario and projected future trends for the analysis period of 2013-2020 with base revenue of 2012
- The report discusses the trends and opportunities in various geographies so that companies can make region specific plans to gain competitive advantage
KEY MARKETS SEGMENTS
- Electrical Stimulators
- Analgesic Pumps
- Intrathecal pumps
- External pumps
- Radiofrequency Ablation Devices
- Spinal Cord Stimulators (SPS)
- Sacral Nerve Stimulators (SNS)
- Deep Brain Stimulators (DBS)
- Cancer Pain
- Neuropathic Pain
- Facial & Migraine Pain
- Musculoskeletal Pain
- North America
- Rest of the World (RoW)
- Medical devices manufacturing companies
- Academic and research organizations
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They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
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- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
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