The "Global Pain Management Devices Market By Product, By Application, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Pain Management Devices Market size is expected to reach $6.3 billion by 2026, rising at a market growth of 8.5% CAGR during the forecast period.
With COVID-19 infections rising globally, there is also deepening apprehension about a shortage of essential life-saving devices and other essential medical supplies to prevent the spread of this pandemic and provide optimum care to those infected. Additionally, for COVID-19 patients, who may require critical care, ventilators act as a vital treatment preference until a pharmacological treatment is developed. In addition, a wide range of test-kits (antibody tests, self-administered, and others) involves a fast acceleration in the manufacturing phase.
Growth in the global market for pain management devices is driven by the increase in geriatric population, a rise in chronic pain pervasiveness, growing awareness of people's awareness of pain management devices, improved investment in R&D to develop innovative products and the launch of new products.
Additionally, growing demand for pain management devices in emerging countries and increasing the use of pain management devices for chronic pain management are other factors contributing to market growth. In addition, the untapped potential offered by developing economies is presenting lucrative market expansion opportunities over the forecast period. Nevertheless, reactions to hypersensitivity and postoperative infections caused by the use of these devices restrict their adoption, which hampers the market growth.
The major strategies followed by the market participants are Partnerships and Acquisition. Based on the Analysis presented in the Cardinal matrix, Johnson and Johnson and Pfizer, Inc. are the forerunners in the Pain Management Devices Market. Companies such as Boston Scientific Corporation, Medtronic PLC, Colfax Corporation, Stryker Corporation, Kimberly-Clark Corporation, and Abbott Laboratories, Baxter International, Inc., and B. Braun Melsungen AG are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, B. Braun Melsungen AG, Baxter International, Inc., Pfizer, Inc., Boston Scientific Corporation, Johnson and Johnson, Medtronic PLC, Kimberly-Clark Corporation, Stryker Corporation, and Colfax Corporation (DJO Global, Inc.)
Recent Strategies Deployed
Partnerships, Collaborations and Agreements
May-2020: Medtronic collaborated with UW following which the company has accelerated research into deep brain stimulation treatment for essential tremor, Parkinson's disease, and other neurological disorders.
Jan-2020: Abbott Laboratories got approval from the US Food and Drug Administration (FDA) for its Infinity Deep Brain Stimulation (DBS) system. This system is expected to be used in the treatment of Parkinson's disease. The system is expected to enable targeting a specific area of the brain known as the internal globus pallidus (GPi) for improving the symptoms of Parkinson's disease not controlled by medication.
Jan-2020: Medtronic secured a CE Mark for its Percept PC neurostimulator. It is the only deep brain stimulation (DBS) system launched in the EU with BrainSense technology, which senses and records brain signals while delivering DBS therapy to people with neurological disorders such as Parkinson's disease.
Acquisitions and Mergers
Jan-2020: Medtronic took over Stimgenics, a startup company that has developed a novel spinal cord stimulation waveform. This acquisition enabled the company to expand its business in the SCS Market.
Key Topics Covered
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.3 Market Scope
1.4.1 Global Pain Management Devices Market, by Product
1.4.2 Global Pain Management Devices Market, by Application
1.4.3 Global Pain Management Devices Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Mergers & Acquisitions
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
3.3.2 Key Strategic Move: (Partnerships, Collaborations, and Agreements: 2016, Oct - 2020, May) Leading Players
Chapter 4. Global Pain Management Devices Market by Product
4.1 Global Neuromodulation & Neurostimulation Devices Market by Region
4.2 Global Analgesic Infusion Pumps Market by Region
4.3 Global Ablation Devices Market by Region
Chapter 5. Global Pain Management Devices Market by Application
5.1 Global Neuropathic Pain Market by Region
5.2 Global Musculoskeletal Pain Market by Region
5.3 Global Cancer Pain Market by Region
5.4 Global Facial & Migraine Pain Market by Region
5.5 Global Other Applications Market by Region
Chapter 6. Global Pain Management Devices Market by Region
6.1 North America Pain Management Devices Market
6.2 Europe Pain Management Devices Market
6.3 Asia Pacific Pain Management Devices Market
6.4 LAMEA Pain Management Devices Market
Chapter 7. Company Profiles
7.1 Abbott Laboratories
7.2 B. Braun Melsungen AG
7.3 Baxter International, Inc.
7.4 Pfizer, Inc.
7.5 Boston Scientific Corporation
7.6 Johnson and Johnson
7.7 Medtronic PLC
7.8 Kimberly-Clark Corporation
7.9 Stryker Corporation
7.10 Colfax Corporation (DJO Global, Inc.)
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