According to a new market report from Research and Markets, the global medical devices market is expected to grow at a CAGR of 7.1% between 2012 and 2017, with revenue of $303 billion by 2017.

The pain management devices market is also expected to grow at a respectable rate, per a media release from Research and Markets.

Pain management is a key driver of the medical devices market. However, the side effects of pain management devices, such as skin hypersensitivity, hyperpigmentation, and skin redness, could hinder growth. Additionally, there are some under-treatment pain management issues for chronic diseases such as cancer that could to be a challenge in the market, the release states.

For more information, visit Research and Markets.

[Source(s): Research and Markets, Business Wire]