Albany, New York, USA (PRWEB) November 13, 2013
According to a new market report published by Transparency Market Research, "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.
Technological advancements and increased sophistication have revolutionized the pain management sector. Significant research and development to understand various pain sensations and their neurotransmission processes has helped in pain reduction to a great extent. Chronic diseases have resulted in large number of pain patients. Rise in aging population is augmenting the incidence of diseases such as chronic arthritis, diabetic neuropathy, osteoarthritis and cancer.
The advent of innovative products such as neurostimulators, analgesic infusion pumps, electrical stimulators and radiofrequency ablators have revolutionized the growth of the pain management devices market. Laser therapy, cryotherapy, TENS and similar other therapies have opened up new avenues in pain management. This report covers the expected market of pain management devices in the future. The market has been analyzed by two aspects - by devices and applications. The device market provides the study of neurostimulators, analgesic infusion pumps, electrical stimulators and radiofrequency ablators. All these devices are helpful in treating various types of chronic pain such as cancer, facial, musculoskeletal and neuropathic pain.
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Geographically, this market has been divided into four major regions which include North America, Europe, Asia and RoW (Rest of the world). Market sizes, forecasts (from 2012 to 2018) and % CAGR for each region have been provided, considering 2011 as the base year. The major drivers, restraints, challenges and growth opportunities and other qualitative dynamics have been considered in the market overview section of this report. The recommendation chapter provides assistance to industry players on ways to enter this market or to establish sustainable competitive advantage. All the major companies and their shares have been studied under special chapters for company profiles and market share analysis.
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