Thesales of pain management devices sales is expected to surge by the end of thenext five years. This phenomenal growth rate is unprecedented and it is attributedto the growing need for pain relief and the ever-changing definition of pain.With this said, there are many questions that are raised about the future of thisindustry, especially with new indications of a global shift in its definition.These will be discussed in this article.
Aglobal view of the pain managementdevices industry can be veryuseful to pain management equipment manufacturers and retailers. As the worldwakes up to the chronic pain experienced by millions of people every day, theglobal pain management devices market will see significant changes. One of themajor changes is the increase in chronic conditions being diagnosed, whichinclude: Arthritis, Cancer, Neonatal Fibroids, and Multiple Sclerosis. Whilethe number of patients diagnosed with these chronic conditions has beensteadily increasing over the past few years, the number of patients diagnosedwith them continues to drop. The increase in chronic conditions will howeverhave a profound impact on the size and scope of the market for pain managementdevices. Due to the large number of conditions being diagnosed, it is expectedthat the chronic condition percentage of the total market will continue toincrease.
Whilethe United States is still the leading market in the pain management devices industryin terms of sales and revenue, European countries like Germany, Portugal,Spain, and Italy are fast catching up. The emerging Asian and Middle Easternmarkets are also providing opportunities for new players in the marketplace. InAsia, demand segments in particular are showing increasing sales and revenues,with demand segment consisting of mainly consumers, middle-aged, high-incomeand senior citizens, and there is also an increase in the pharmaceuticalmanufacturing and research related industries.
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