Pain is caused due to the obnoxious sensory stimulation caused due to damage to the tissues by any means. It is mainly caused by injuries as well as in the case of diseases such as arthritis, ulcers, cancer and multiple sclerosis. Acute pain is caused for a very short period of time whereas chronic pain is unrelenting for extended time periods.
Numerous drugs and devices are obtainable in the market to aid in pain management. These devices work by blocking the nerve stimulators by transmitting the repulsive sensory experience to the brain. Neurostimulation devices, ablation devices, and analgesic infusion pumps are some of the pain management devices. Neurostimulators block pain by supplying certain frequencies of current to avert the passage of signals.
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Market views:
Asia Pacific Pain Management Devices Market was worth USD 0.51 billion in 2018 and is projected to grow at a CAGR of 8.4%, to reach USD 0.77 billion by 2023.
Drivers and restraints:
The key drivers which are boosting the growth of Asia Pacific pain management devices market are boost in demand for substitutes for pain management drugs which cause many side effects; a major number of patients with chronic diseases particularly in geriatric population and technological improvements to develop better pain management devices are likely to drive the market. Rise in cancer patients and increase in neuropathic diseases are also propelling the pain management devices market.
The major restraints which are hampering the growth of Asia Pacific pain management devices market are side effects related with the use of these devices such as hypersensitivity and redness of skin and expensive production costs.
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Partition of the Market:
The Asia Pacific pain management devices market is partitioned according to device type, application, mode of purchase and region. With respect to the device type, the market is classified into neurostimulation devices, ablation devices, and analgesic infusion pumps. Neurostimulation devices are again sectioned into Transcutaneous Electrical Nerve Stimulation devices and Spinal Cord Stimulation devices. Ablation devices are again divided into Radiofrequency ablation devices and cryoablation devices. Analgesic infusion pumps are again segmented into intrathecal infusion pumps and external infusion pumps. Neurostimulation devices hold the chief market share due to their wide usage in chronic pain management. With respect to application, the market is segmented into Neuropathic pain, Facial pain and migraine, musculoskeletal pain, cancer pain and other pains. On account of means of purchase, the market is classified into over the counter purchase and prescription based purchase.
On the basis of region, the Asia Pacific pain management devices market is partitioned into China, India, Japan, Australia and South Korea. Japan and India are likely to drive the market in this region due to the rising consciousness about the pain management devices and increasing geriatric population in these regions.
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Key players of the market:
Some of the prominent companies leading the Asia Pacific pain management devices market are St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic plc, Baxter international, Stryker Corporation, Pfizer, Codman and Shurtleff, B Braun Melsungen AG and DJO Global LLC.
Scope of the Report:
The report offers an extensive examination of the business by giving the estimations of market potential and gauges with most extreme granularity. Along this, the variables persuasive in affecting the market flow and patterns are examined in detail at the item level. Further, the execution of the market at the territorial and nation level is evaluated and the prospects with high development potential are distinguished and discussed.
The key players in the business are profiled giving bits of knowledge on their money related execution, advertise position and development techniques. Similar investigation on prime strategical exercises of the market players depicting the key advancements like mergers and acquisitions, coordinated efforts and an assessment of the focused condition inside the business are given. The report additionally offers an expansive standpoint of the market alongside proposals from industry specialists on the open doors for speculation action.
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