Having overcome its initial inertia, the market for pain management devices is set to boom in the next decade. Rising awareness among physicians and patients about their benefits coupled with increased realisation about the undesired side affects produced by oral painkillers are promoting the uptake of pain management devices.
Frost & Sullivan (medicaldevices.frost.com) finds that European Markets for Pain Management Devices earned revenues of US$488.2 million in 2006 and estimates this to reach US$1.3 billion in 2013.
"Pain management devices are currently used to treat chronic pain associated with cancer, afflictions of the lower back and for other difficult to treat pain," says Frost & Sullivan Research Analyst S. Kezia Jasper. "These devices relieve pain without causing any undesirable side effect with patients increasingly opting for them over pharmaceutical alternatives."
Pain management devices such as neuro stimulators are set to revolutionise the market. The growth of neuromodulation devices will be significant when compared to other segments in the market.
Low awareness of pain management devices among primary care physicians and individuals together with varied, country-specific reimbursement policies pose key challenges to market expansion.
"Physicians tend to find it easier to prescribe an oral painkiller rather than a pain management device about which they have limited knowledge," adds Ms. Jasper. "In certain countries, pain management devices are not reimbursed, as they are regarded as products that improve the quality of life rather than viable treatment options."
Moreover, oral painkillers threaten to cannibalise revenues from the pain management devices market. Oral painkillers are easily available as over-the-counter drugs and are often simpler to use than pain management devices.
"Increasing awareness among physicians, improving customer service in terms of immediate response to feedback and attending to patient and physician complaints on time would enhance the prospects for success," advises Ms. Jasper. "Forging close relationships with physicians and gaining product credibility would help market participants to not only establish their brands but also gain purchase orders."
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the European Markets for Pain Management Devices (H019 - 54), send an e-mail to Radhika Menon Theodore - Corporate Communications at rmtheodore[.]frost.com with your full name, company name, title, telephone number, e-mail address, city, state, and country. We will send you the information through email upon receipt of the above information.
European Markets for Pain Management Devices is a part of the Medical Devices Subscription, which also includes research in the following markets: European Market for Catheters and Guidewires for Angioplasty and Angiography, Opportunities and Scope for the European Therapeutic Hypothermia Devices Market, European Market for Orthopaedic Implants and European Markets for Wound Debridement. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.
Keywords: pain management devices, Europe, market, oral painkillers, chronic pain, cancer, lower back pain, neuro stimulators, neuromodulation devices, primary care physicians, over-the-counter drugs, physicians