Pain management is usually treated with some effective devices and this process or treatment is performed in the hospitals. Pain management treatment on the patient is generally done for implantation, replacing or also other surgical device management that is needed for pain treatment. For instance, the nerve pain and the chest pain treatment occurs due to coronary heart disease with the device, such as the infusion pump, or also a neurostimulator. Pain management is basically a hospital treatment process that do not need inserting or also any kind of surgery of device. For instance, the nerve pain and chest pain treatment is caused due to cancer through injecting the nerve block.
Pain management devices market is estimated to be over US$ 3.5 Bn in 2017. It is anticipated to grow at a CAGR of 13.4% from 2019 to 2030.
Technological advancements, growing geriatric population coupled with increasing awareness among patients have been pivotal in dictating the growth of the pain management devices market. Moreover, growing burden of chronic diseases worldwide and increasing expenditures on healthcare is anticipated to be the major drive the growth of the global pain management devices market between 2019 and 2030. Furthermore, key players have extensively focused on collaborating with several educational and research institutes, organizations and societies to amplify R&D activities and meet the overall demands of the healthcare industry. For instance, the IMI-PainCare was launched in 2018, to address the global burden of chronic pain. The initiative is a collaboration between 40 partners from 14 different nations, namely University of Heidelberg, Petra Bloms-Funke, and several others.
Major Key Players of the Pain Management Devices Market are:
Medtronic, ST. Jude Medical, Inc. (A subsidiary of Abbott), Boston Scientific Corporation, Hospira, Inc. (A subsidiary of Pfizer Inc.), Smiths Medical, B. Braun Melsungen AG, Halyard Health, Inc. (O&M Halyard or its affiliates) BIO-MEDICAL RESEARCH LTD, BD, and Nevro Corp. among others
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