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Pain Management Devices | New Study Shows High Proven Efficacy Of Devices in Treatment of Chronic Pain

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 Asia-Pacific region has become an attractive destination for companies engaged in the manufacture of pain management device. The high growth opportunities in this regional segment can be attributed to a number of factors, including growing incidence of chronic diseases, improving healthcare infrastructure in the region, growing middle-class population and disposable income levels, and rising awareness about the safety and efficacy of pain management device.

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%.

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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.

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