Pain Management Drugs and Devices Market Outlook 2017-2023
Pain Management Drugs and Devices Market is accounted for $41.73 billion in 2016 and is expected to reach $61.52 billion by 2023 growing at a CAGR of 5.7% during the forecast period. Growing healthcare industry across the globe, rapid technological developments and increasing various pain disorders tied with rising global geriatric people are some of the key factors propelling the market growth. However, factors such as availability of alternative therapies, drug abuse and patent expiration of prescription drugs are hindering the market.
Neuromodulation is technology that is used for the alteration or modulation of the nerve activity by using chemical agents or electrical stimulation to the specific neurological sites in the body. Most of the neuromodulation devices work through electrical stimulation. Neuromodulation devices are used by the application of electrodes to the brain, peripheral nerves or the spinal cord. The electrode leads in neuromodulation devices are connected through an extension cable to a power source and pulse generator, which generates required electrical impulses. North America is anticipated to hold the largest market share due to the rising incidence of chronic diseases, increasing government support, growing middle-class population and disposable income levels in this region.
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Some of the key players in the Pain Management Drugs and Devices Market include Abbott Laboratories, Endo International, Abbvie, DJO Global Inc., Johnson & Johnson, Novartis International AG, Grunenthal Gmbh, ELI Lilly & Co, Hisamitsu Pharmaceutical Co. Inc., Pfizer Inc., Astrazeneca Plc, Purdue Pharma LP, Glaxosmithkline, Medtronic and Boston Scientific Corp.
Device Types Covered:
– Neuromodulation Devices
– Analgesic Infusion Pumps
– Ablation Devices
– Electrical stimulation devices
Drug Classes Covered:
– Non-Narcotic Analgesics
– Narcotic Pain Management
– Opioids
– Antidepressent
– Anesthetics
– NSAIDS
– Anticovulsants
– Anti-Migraine Agents
– Other Drug Classes
Applications Covered:
– General Pain
– Dental Pain
– HIV/AIDS Pain
– Migraine Pain
– Orthopedic/Musculoskeletal Pain
– Neuropathic Pain
– Cancer Pain
– Fibromyalgia Pain
– Surgical Pain
– Other Applications
Indications Covered:
– Arthritic Pain
– Chronic back pain
Mode of Purchases Covered:
– Over-the-counter Devices
– Over-the-counter Devices
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