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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Interventional pain management is a technique of pain management with special procedures such as spinal cord stimulation and pain management injections. Interventional pain management techniques are provided by trained anesthesiologists at pain management clinics or centers. These techniques are widely used in the treatment of various types of pain, which includes back and neck pain, diabetic neuropathy, cancer pain, foot and ankle pain, and joint pain.

Interventional Pain Management Market: Drivers

Rising prevalence of chronic pain is expected to increase the demand for interventional pain management techniques for its treatment, thereby fueling interventional pain management market growth in the near future. For instance, according to a study published by the National Centre for Biotechnology Information (NCBI) in 2015, around 19.6% of the individuals aged between 20 to 60 years were suffering from low back pain worldwide.

According to a study published by the Centers for Disease Control and Prevention (CDC) in 2012, around 20.3% of the population in the U.S. suffer from lower back pain. As per the report of the American Academy of Pain Medicine (AAPM) 2012, over 100 million people suffer from chronic pain, 25.8 million from diabetes, 16.3 million from coronary heart disease, and 11.9 million from cancer in the U.S. every year, which is expected to further increase in the near future. Moreover, in 2015, the National Institutes of Health (NIH) estimated that one in 10 people in the U.S. suffer from chronic pain. According to a study published in the British Medical Journal in 2016, around one-third to half of the population in the U.K. suffers from chronic pain.

Increasing establishment of new national interventional pain management platform is expected to support growth of the global interventional pain management market over the forecast period. For instance, in February 2018, NexPhase Capital, LP acquired Gulf Coast Pain Institute, through which the company launched a new national interventional pain management platform named Clearway Pain Solutions Institute, which will provide interventional pain management therapies to patients suffering from chronic pain.

The chances of chronic pain in geriatric population is very high. Therefore, increasing geriatric population is expected to increase demand for interventional pain management and fuel global interventional pain management market growth over the forecast period. For instance, according to the data published by the United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015, which is expected to increase to 22% by 2050, accounting for 2 billion people.

Interventional Pain Management Market: Regional Analysis

North America interventional pain management market is expected to grow drastically, owing to increasing promotional activities by interventional pain management providers to bring awareness about interventional pain management techniques among the population. For instance, in 2016, the Center for Interventional Pain and Spine launched its new website to bring awareness about the interventional pain management techniques among the population.

Increasing prevalence of chronic pain among population is expected to fuel interventional pain management market growth in Europe in the near future. For instance, according to the data published by World Health Organization (WHO) in 2015, around 20% of the adult population in Europe was suffering from chronic pain.

Increasing geriatric population in Asia Pacific region is expected to increase the demand for interventional pain management, which in turn is expected to drive interventional pain management market growth in the region. For instance, according to the data published by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, Asia Pacific region constitutes around 60% of the world’s geriatric population. It is estimated that in 2016, around 547 million people were aged above 60 years in Asia Pacific region and this number is expected to double and reach around 1.3 billion by 2050.

Interventional Pain Management Market: Key Players

Key players operating in the global interventional pain management market include Ipsen group, Allergan Plc., Medytox Inc., Merz GmbH, Medtronic Plc., Boston Scientific Corporation, and St. Jude Medical, Inc.

Interventional Pain Management Market: Taxonomy

The global interventional pain management market is segmented on the basis of technique, application, and region.

By Technique-

  • Pain Management Injection
    • Epidural Steroid Injections
    • Facet Joint Injections
    • Medial Branch Blocks
    • Nerve Blocks
    • Sacroiliac Injections
    • Trigger Point Injections
    • Others
  • Radiofrequency Ablation
  • Spinal Cord Stimulation
  • Others

By Application-

  • Back and Neck Pain
  • Diabetic Neuropathy
  • Cancer Pain
  • Foot and Ankle Pain
  • Joint Pain
  • Muscle Pain and Spasm
  • Post-Injury Pain
  • Shingles Pain
  • Others

By Region-

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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