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Pain Management Devices Market Size, Share, Analysis, Trends and Forecast - 2021

Pain management device are used to manage chronic and acute pain in patients suffering from various conditions, such as cancer, neurological disorders, and musculoskeletal disorders. These devices restore the ability of patients to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions.
The global pain management equipment market is estimated to grow at a CAGR of 8.5% from 2016 to 2021 to reach USD 4.64 Billion by 2021. The growth in this market is primarily driven by factors such as the presence of a large patient population base and adverse effects associated to the use of pain medications.

Based on type, the pain management equipment market is categorized into neurostimulation devices (transcutaneous electrical nerve stimulation (TENS) and spinal cord stimulation (SCS)), ablation devices (RF ablation and cryoablation), and analgesic infusion pumps (intrathecal and external infusion pumps). The neurostimulation devices segment is expected to account for the largest share of the market in 2016. This can majorly be attributed to the cost-effectiveness of neurostimulation devices, high efficacy of TENS and SCS devices in alleviating chronic pain, and availability of reimbursement for SCS therapy in developed countries.
On the basis of applications, the pain management devices market is segmented into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and other applications (pregnancy/labor and menstrual pain, sports injuries, post-operative pain, and trauma pain). The neuropathic pain segment is estimated to witness the highest growth during the forecast period, primarily due to the high prevalence of diseases resulting in neuropathic pain.
On the basis of mode of purchase, the market is categorized into over-the-counter and prescription-based pain management device. The prescription-based devices segment is estimated to command a larger share, majorly due to the longer market presence of these devices with established safety and efficacy profiles and their long-term cost effectiveness.
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