(EMAILWIRE.COM, January 24, 2019 ) Pain management equipment 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.

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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.

Leading players in the pain management equipment market are focusing on the strategies of new product launch and geographic expansion. These strategies help market players to strengthen their product portfolios, streamline their manufacturing capabilities, expand their distribution networks, and penetrate into high-growth markets.

Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.) were the top players in the pain management devices market in 2015.

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