Medtronic, Boston Scientific Corporation and Abbott are Dominating the Global Neuropathic Pain Market in 2020

Global Neuropathic Pain Market is expected to grow with the CAGR of 9.2% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Global neuropathic pain market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.   

The major players dealing in global neuropathic pain market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance:

• In January 2020, Medtronic announced that the company has achieved second rank in the FORTUNE’s 2020 World’s Most Admired Companies List. This award and recognition achieved by the company has promoted its credibility in the market leading to increased demand for its product in the several markets including neuropathic pain market among others

Medtronic is the dominating player in global neuropathic pain market. The other key players existing in the market are NERVO CORP., SPR Therapeutics, Stimwave LLC, AVNS, Cirtec, Integer Holdings Corporation, B. Braun Melsungen AG, Abbott, Boston Scientific Corporation, Omron Healthcare Inc., electroCore, Inc., Polar Medical, SunMed, NeuroMetrix, Inc. among others.

Medtronic

Medtronic headquarter is in Dublin, Ireland. The company was founded in the year 1949. The company focuses on treatment of various health conditions and include patient monitoring systems, respiratory systems and more by providing products in domains such as cardiovascular, respiratory, diabetes among more. The company operates its business through several business segments including cardiac and vascular group, minimally invasive therapies group, restorative therapies group and diabetes group in which restorative therapies group. The company has various product categories including advanced surgical technology, cardiac rhythm, cardiovascular, diabetes, digestive & gastrointestinal, ear, nose & throat, general surgery, gynecological, neurological, oral, maxillofacial & dental, patient monitoring, renal care, respiratory, spinal & orthopaedic, surgical navigation & imaging and urological in which neurological is the market focused category.

For instance,

• In January 2020, Medtronic announced that it has been recognized as one of three recipients of the 2020 Catalyst Award. The company has achieved this award in recognition for its initiatives for the women at workplace. This award and recognition has boosted the company’s credibitlity in the existing market

The company has wide presence across North America, Europe, Middle East and Africa, South America, Asia-Pacific. The company also has various subsidiary companies including A&E Hangers Taiwan Co., Ltd. (Taiwan), A&E Products Group, Inc. (Delaware), Accucomp (Pty.) Ltd. (Delaware), Airox, Inc. (France) and Arterial Vascular Engineering UK Limited (U.K.) among others.

Boston Scientific Corporation

Boston Scientific Corporation founded in the year 1979, headquarter in Massachusetts, U.S. The company is focused on transforming lives through innovative medical solutions that improve the health of patients around the world. The company operates its business via three business segments including medsurf, rhythm and neuro and cardiovascular in which Rhythm and Neuro is the market focused segment. The company has wide product categories which are ablation, access device: dilatation, access device: sheath, accessories, atherectomy systems, balloons: dilation and extraction, band ligator, baskets bronchial thermoplasty, catheters: balloon, catheters: diagnostic, catheters: drainage, catheters: guide, catheters: support, catheters: ureteral, clips, CRT-D, CRT-P, CTO systems, deep brain stimulation systems, defibrillators (S-ICD, ICD)direct visualization systems, embolic protection,  spinal cord stimulator systems, stents: coronary, stents: gastrointestinal, stents: pulmonary, stents: ureteral, stents: vascular, thrombectomy systems in which spinal cord stimulator systems is the market focused category.

• In December 2021, Boston Scientific Corporation launched WaveWriter Alpha Spinal Cord Stimulator Systems is, a product indicated for treatment of chronic pain and can be used in the neuropathic pain. This launch boosted the company’s product portfolio and allowed the company to penetrate its root in neuropathic pain market

The company has presence across Americas, Europe, Asia-Pacific, Middle East and Africa. The company also has various subsidiaries including Acurate Industria e Comercio Ltda. (Brazil) American Medical Systems Europe B.V. (Netherlands) Apama Medical, Inc. (U.S.) Augmenix, Inc. (U.S.) Biocompatibles International Limited (England) among others.

Abbott

Abbott founded in the year 1888, headquarter in IIIinois, U.S. The company is focused on providing the good health to the people around the world through their innovative medicines and technologies. The company operates its business via three business segments including established pharmaceuticals products, nutritional products, diagnostic products, medical devices in which medical devices is the market focused segment. The company has two product categories which are consumers and health professionals in which health professionals is the market focused category.

• In January 2021, Abbott had acquired St. Jude Medical, Inc., a leader in medical devices. This acquisition allowed the company to expand their market in terms of medical devices in upcoming future. This acquisition helped the company to attain lucrative growth in neuropathic pain market among others by boosting up the overall product portfolio

The company has presence across Asia-Pacific, Europe, Middle East and Africa, Americas. The company also has various subsidiaries including Alere Inc. (U.S.), Panbio Ltd (Australia), Abbott India Ltd (Mumbai), Abbott Japan Co., Ltd. (Japan), Abbott Canada (Canada) among others.