Pain Management Device Market is Suspiciously Growing at a promising CAGR of 7.2% During Forecast 2016-2023
Market Highlights: The global Pain Management Device Market totaled more than USD 3.58 billion in 2016 and is bound to reach USD 5.81 billion by 2023, as per Market Research Future (MRFR) report. The report also mentions that the global market is projected to grow at a healthy CAGR of 7.2 % during the forecast period (2016-2023). Pain-related disability is a significant and costly liability to patients, leading to frustration and inability to function in day to day life. Growing geriatric population, increasing prevalence of chronic pain and growth in government initiatives to mitigate the threat of chronic pain have been instrumental in the development of the global market in recent years. Moreover, conventional drug-based therapies generally come with the threat of side effects, hence giving rise to research and development (R&D) efforts. These activities by market players aim to introduce advanced pain management options with higher efficacy and safety, thus giving b...