The global market for pain management devices is expected to increase through 2022, according to a Credence Research report.
Here's what you need to know:
1. The market was valued at $3.19 billion in 2015.
2. The market is expected to reach $6.24 billion by 2022, growing at a compound annual growth rate of 9.8 percent.
3. North America is expected to dominate the market, followed by Europe; the Asian-pacific region is expected to be the fastest-growing market.
4. Key market vendors include Medtronic, Smiths Medical, St. Jude Medical, Boston Scientific and Stryker.
5. Credence Research attributes these market trends to a growing geriatric population, prevalence of chronic pain conditions and desire to ensure precise drug dosage.