Global Pain Management Devices Market- By Type (Neuromodulation & Neurostimulation Devices, RF Ablation Devices, Electrical Stimulation Devices, and Infusion Pumps), By Application (Cancer, Neuropathy, Musculoskeletal, Brain, Facial & Migraine Pain, and Other Applications), By End-User (Physiotherapy Centers, Hospitals & Clinics, and Other End-Users), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 33453
- Number of Pages: 382
According to a recent report by Market.us, the Global Pain Management Devices Market size is expected to be worth around USD 9.4 Billion by 2032 from USD 4.4 Billion in 2022, growing at a CAGR of 8.1% during the forecast period from 2023 to 2032.
Due to the rising prevalence of chronic diseases and the growing number of elderly people worldwide, the market for pain management devices is expanding at a rapid rate. In addition, the market’s expansion is anticipated to be aided by the rising demand for long-term pain management worldwide due to rising pain management awareness. However, the pain management device market is expected to be hampered by factors such as product recalls and high purchase and procedure costs.
One of the main drivers of market expansion over the forecast period is the rising incidence of chronic diseases. The demand for nerve stimulators and muscle has increased as a result of the rising prevalence of lifestyle disorders like obesity and diabetes. Another primary driver of market expansion is the increasing incidence of trauma and hypertension. A brain aneurysm and other chronic diseases are significantly more likely to occur in people with hypertension.
- Pain management devices are medical devices that enable patients to manage and relieve the pain caused due to medical conditions.
- Such devices have emerged as a non invasive way to alleviate lasting pain experienced by patients suffering from chronic diseases.
- When segmented by type, the the neuromodulation and neurostimulation devices segment was the largets contributor to the market in 2022.
- Based on application, the neuropathic pain segment remains the major contributor.
- Hsopitals and clinics are the end user segment that generated the most revenue in 2022.
- In 2022, North America was the dominating region with the highest pain management devices market share.
- European market is projected to expand at a considerable CAGR throughout 2023-2032.
The Neuromodulation and Neurostimulation Devices Segment Accounted for the Highest Revenue Share.
The market segmentation comprises neuromodulation and neurostimulation devices, RF ablation devices, electrical stimulation devices, and infusion pumps. The majority of the total came from the neurostimulation segment with the revenue share of 37.6%. The rise in the number of neurological disorders is to blame for the expansion. Parkinson’s disease, chronic pain, movement disorders, epilepsy, and depression are all helped by these neurostimulators. Additionally, the market is anticipated to be pushed by factors such as rising product demand, the introduction of technologically advanced products, and an expanding geriatric population.
Market expansion is likely to be fueled by an expanding geriatric population, which is more susceptible to chronic illness. Due to its extensive use in surgical oncology, pain management, cardiology and cardiac rhythm management, gynecology, and cosmetology, the RFA market is anticipated to grow at the fastest CAGR over the forecast period. Patients with multiple tumors respond better to radiofrequency ablation treatment than to open surgery, promoting segment expansion. In June 2020, Boston Scientific introduced DIRECTSENSE, a tool for monitoring the impact of radiofrequency energy delivery during cardiac ablation procedures.
The Neuropathic Pain Segment Will Held Maximum Market Share.
Cancer, neuropathy, musculoskeletal, brain, facial, and migraine pain are among the market segments. With the highest revenue share of 28%, the neuropathic pain segment dominated the market. The prevalence of the target population and increasing initiatives by industry players are to blame for the expansion. In 2019, the Centers for Disease Control and Prevention in the United States estimated that 65 percent of Americans aged 65 and older experienced chronic pain. Neuropathic pain also affects 3 to 17 percent of adults. It is anticipated that the factors above will drive the segment’s expansion.
Over the forecast period, the cancer market is expected to grow at the fastest CAGR. Due to the tumor compressing and other variables based on the progression of cancer, an increase in the demand for products to alleviate nerve compression pain has increased the number of cancer cases. Additionally, the market expansion is anticipated to be fueled by the rising incidence of genetic diseases like Acute Lymphoblastic Leukemia (ALL) during the forecast period.
The Hospitals & Clinics Segment Will Estimated to Have the Highest Share of the Market.
Due to the increased use of pain management devices in hospitals to treat various diseases, the end-user segment of hospitals and clinics is anticipated to have the highest market share. As a result, revenue from pain management devices is likely to rise in the coming years.
Hospitals focus a lot on post-surgical pain because it costs a lot to monitor and treat side effects, so there is a lot of demand for pain medications and devices. The CDC estimates that there were 54 million cases of arthritis in the United States in 2019, making it the leading cause of disability following surgery. As a result, there was a rise in the demand for pain management stimulators to treat chronic pain. Due to the ineffectiveness of oral medications, patients are increasingly looking for alternative treatment options, such as pain management devices.
Key Market Segments
Based on Type
- Neuromodulation & Neurostimulation Devices
- RF Ablation Devices
- Electrical Stimulation Devices
- Infusion Pumps
Based on Application
- Facial & Migraine Pain
- Other Applications
Based on End-User
- Physiotherapy Centers
- Hospitals & Clinics
- Other End-Users
The Increasing Incidence of Various Disorders All Over the World Leads to the Expansion of the Global Pain Management Devices Market.
Throughout the forecast period, it is anticipated that the global market for pain management devices will expand along with the rising incidence of neurological, chronic, and musculoskeletal disorders worldwide. Patients with neurological, chronic, and musculoskeletal disorders use pain management devices to treat chronic and acute pain. People with these conditions benefit from assistance in resuming normal activities, reduced use of oral painkillers, and improved quality of life. The most common causes of disability and death in the US are chronic diseases like cancer, diabetes, and heart disease, according to the Centers for Disease Control and Prevention (CDC).
During the forecast period, the global market for pain management devices is expected to expand in response to the rising number of people over 65. The number of older adults is rapidly increasing in the oldest, most ailing, and frailest. For instance, according to the World Health Organization, 1 in 6 people worldwide will be over 60 by 2030, and the number of people over 60 will double by 2050.
The Factors that Hindered the Growth of the Market were product Recalls and the High Cost of Purchases and procedures.
The global market for pain management devices is expected to grow at a slower rate as a result of product recalls. For instance, recalls are crucial for mitigating the severe health effects of unsafe or defective medical devices. A recall is typically initiated on the manufacturer’s own initiative. The Consumer Product Safety Commission recalled tons of bottles of over-the-counter pain medication in June 2020. Also, the pain management device market is expected to shrink due to the high costs of purchases and procedures.
A Rise in the Number of Diseases Brings the Better Opportunities for Driving the Growth of the Market.
The pain management market players are anticipated to benefit greatly from the rising demand for novel pain management therapies and devices. As the number of diseases rises, so does the need for advanced pain management solutions. For instance, in March 2020, Biotricity announced that it partnered with CPM Centres for Pain Management, the largest provider of services for managing chronic pain in Canada, to launch an innovative product. Biotricity aspires to fill in the gaps in technological solutions for treating and diagnosing patients.
Awareness of the Utilization and Availability of Pain Management Devices.
Players in the global market for pain management devices are anticipated to benefit from rising awareness of the utilization and availability of pain management devices. For instance, millions of Americans are directly affected by chronic pain, and September is designated National Pain Awareness Month. Activists and pain professionals from all over the United States get together to raise awareness of issues related to chronic pain.
Impact of Macroeconomic Factors
Factors such as inflation exercise a considerable influence on the pain management devices market. Inflation rates have increased the cost of living with a notable rise in healthcare costs. Increase in cost of medical services can deter patients from seeking medical help. According to an aticle published by West Health and Gallup, over 38% americans admit to putting off treatment due to the 12 points rise in costs.
Further, a survey by the American Psychological Association reports that over 87% of Americans have stated inflation as a notable cause of stress. Consumers are more likely to focus on the necessities when costs soar but incomes remain unchanged. Thus it is likely that the pain management devices market will be influenced negatively due to the surging inflation.
The pain management devices market trends continually evolve with advancements in technology and treatment options. Pain management devices that use TENS technology have been increasingly popular. The TENS technology is being utilised to make pain management devices that offer instantaneous pain relief. Further, the small size and remote control make such devices portable, which in turn makes them immensely useful for travellers and commuters. Such small devices have been popular among women in particular for period pain management. Studies have shown that TENS technology is useful for alleviating the pain caused due to conditions such as primary dysmenorrhea and endometriosis.
North America Dominates the Global Pain Management Devices Market During the Forecast Period.
With 49.2% of the revenue, North America dominated the market and is anticipated to continue to do so throughout the forecast period. During the forecast period, the North American pain management devices market is anticipated to be driven by the growing adoption of pain management devices. Additionally, significant growth opportunities are anticipated for the North American market due to rising demand for drug-free treatment, rising per capita income, and rising chronic pain rates. The International Neuromodulation Society’s data show that over the past decade, the amount of neuromodulation device approvals by the FDA increased.
During the forecast period, developed European nations like the UK, France, and Germany are anticipated to drive market growth. The European market is expected to expand due to the rising popularity of pain management devices and the growing acceptance of technologically advanced devices due to their superior treatment outcomes.
During the forecast period, the market has considerable potential for expansion in the Asia-Pacific region. The market in the Asia-Pacific region is anticipated to grow due to several factors, including rising awareness of electrical stimulation techniques for pain management, the expansion of healthcare research infrastructure, and product penetration by established market players.
- The UK
- Rest of Europe
- South Korea
- New Zealand
- Rest of APAC
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Key Players Analysis
Medtronic launched the InterStim Micro Neurostimulator to Assist Patients in Gaining Effective Bowel and Bladder Control.
To increase their penetration level, the market players constantly participate in strategic initiatives like partnerships, regional expansion, mergers & acquisitions, and technology innovation. In August 2020, Medtronic announced the commercial launch of the InterStim Micro Neurostimulator, a neurostimulator approved by the FDA.
The implant was intended for use with Sacral Neuromodulation (SNM) therapy to assist patients in gaining effective bowel and bladder control. Smith’s Medical introduced the new CADD Solis ambulatory infusion pump version 4.2 in October 2020. Thanks to this wireless bidirectional communication pump, the patient’s EMR records would be more easily integrated with pain management data.
A few prominent players that drive the growth of the market are Micrel Medical Devices SA, Nevro Corp, Stryker Corporation, Kimberly-Clark Corporation, Nevro Corporation, Abbott Laboratories, Inc., Omron Healthcare Inc., Codman & Shurtleff, Inc., Boston Scientific Corp., and other key companies.
Listed below are some of the most prominent global pain management devices market players.
Market Key Players
- OMRON Healthcare Inc.
- Nevro Corp
- DJO Global LLC
- Boston Scientific Corporation
- Eli Lilly & Company
- Baxter International Inc.
- Stryker Corporation
- SPR Therapeutics
- Other Key Players.
- March 2023: Nevro Corp announced the lauch of Senza HFX iQ, a spinal cord stimulation system. The device is a first of its kind since it relies on AI to facilitate optimised pain management. It offers an individualised program to patients, which is based on the HFX algorithm.
- April 2023: SUPMOGO launched the RecoveryFlex system, a wearable pain management device powered by AI. The system is driven by Advanced Targeting AI, which assists in chronic pain managment and recovery of mobility. Further, the device aims ro provide a customisable app-driven pain relief.
- July 2023: Desk Jockey Store introduced a TENS physiotherapy unit for pain relief by inducing endorphic production via nerve stimulation. The Wireles TENS Unit Simulator is a portable device connected to a mobile app with a user friendly interface. The devices claims to offer instant relief from resultant pain from conditions such as osteoarthritis, bursitis and fibromyalgia.
Report Features Description Market Value (2022) USD 4.4 Bn Forecast Revenue (2032) USD 9.4 Bn CAGR (2023-2032) 8.1% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Type- Neuromodulation & Neurostimulation Devices, RF Ablation Devices, Electrical Stimulation Devices, and Infusion Pumps; By Application- Cancer, Neuropathy, Musculoskeletal, Brain, Facial & Migraine Pain, and Other Applications; By End-User- Physiotherapy Centers, Hospitals & Clinics, and Other End-Users. Regional Analysis North America – US, Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands, Rest of Europe; Asia Pacific – China, Japan, South Korea, India, New Zealand, Singapore, Thailand, Vietnam, Rest of APAC; Latin America – Brazil, Mexico, Rest of Latin America; Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of MEA. Competitive Landscape Medtronic, Abbott, OMRON Healthcare Inc., Nevro Corp, DJO Global LLC, Boston Scientific Corporation, Eli Lilly & Company, Baxter International Inc., Stryker Corporation, SPR Therapeutics and Other Key Players. Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)
Frequently Asked Questions (FAQ)What is the Pain Management Devices Market?
The Pain Management Devices Market refers to the industry that produces and markets devices and technologies designed to alleviate or manage chronic and acute pain conditions.How big is the Pain Management Devices Market?
The global Pain Management Devices Market size was estimated at USD 4.4 billion in 2022 and is expected to reach USD 9.4 billion in 2032.What is the Pain Management Devices Market growth?
The global Pain Management Devices Market is expected to grow at a compound annual growth rate of 8.1%. From 2023 To 2032Who are the key companies/players in the Pain Management Devices Market?
Some of the key players in the Pain Management Devices Markets are Medtronic, Abbott, OMRON Healthcare Inc., Nevro Corp, DJO Global LLC, Boston Scientific Corporation, Eli Lilly & Company, Baxter International Inc., Stryker Corporation, SPR Therapeutics, Other Key Players.What types of devices are included in the Pain Management Devices Market?
This market includes devices such as TENS (Transcutaneous Electrical Nerve Stimulation) units, spinal cord stimulators, radiofrequency ablation devices, and pain pumps, among others.Why is the Pain Management Devices Market growing?
The market is growing due to an increasing prevalence of chronic pain conditions, a growing aging population, and advancements in technology, making pain management more effective and accessible.What are the key drivers for the Pain Management Devices Market?
Key drivers include rising awareness about non-pharmacological pain management, the opioid epidemic, and a shift towards minimally invasive pain treatments.
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