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

Report Overview

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.

Key Takeaways

• Market Value: Projected growth from USD 4.4 billion in 2022 to USD 9.4 billion by 2032, with a CAGR of 8.1%.
• Chronic Diseases Impact: Increasing prevalence of chronic diseases like diabetes and obesity fuels demand for pain management devices.
• Aging Population Influence: Elderly demographic expansion supports the rising need for chronic pain management solutions.
• Leading Segment: Neuromodulation and neurostimulation devices dominated with a 37.6% revenue share in 2022.
• Primary Application: Neuropathic pain led market applications with a 28% revenue share, driven by aging populations.
• Regional Leadership: North America led the market in 2022; significant growth expected in Europe and Asia-Pacific due to technological acceptance and healthcare advancements.
• Market Constraints: High costs and product recalls challenge market growth, affecting device accessibility and consumer confidence.
• Innovation and Awareness: Technological advances in TENS and increasing chronic pain awareness are set to drive market expansion.
• Economic Impact: Inflation influences healthcare expenses, potentially reducing patient access to advanced pain management devices due to cost concerns.

Type Analysis

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.

Application Analysis

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.

End-User Analysis

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

• Cancer
• Neuropathy
• Musculoskeletal
• Brain
• Facial & Migraine Pain
• Other Applications

Based on End-User

• Physiotherapy Centers
• Hospitals & Clinics
• Other End-Users

Drivers

Increasing Incidence of Various Disorders

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.

Restraints

High Cost of Purchases and procedures

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.

Opportunities

Rise in the Number of Diseases

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.

Latest Trends

Advancements In Technology And Treatment Options

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.

Regional Analysis

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.

Key Regions

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • 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

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.

Market Key Players

• 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.

Recent developments

• In April 2024: Medtronic received FDA approval for its Inceptiv™ closed-loop rechargeable spinal cord stimulator (SCS). This device represents a significant advancement as it is the first in Medtronic’s lineup to offer a closed-loop system that auto-adjusts to changes in the spinal cord’s biological signals, potentially enhancing chronic pain management.
• In March 2023: Abbott launched its Eterna™ SCS System in Canada after receiving Health Canada approval. This device, designed to be the smallest implantable, rechargeable spinal cord stimulator on the market, offers significant advancements in chronic pain management. The Eterna SCS System is notable for its low recharge frequency, needing only about five recharges per year under normal use, which positions it as having the lowest recharge burden among similar devices.
• In April 2024: OMRON Healthcare announced the acquisition of Luscii Healthtech, a company specializing in digital health and remote consultation services. This acquisition aligns with OMRON’s expansion into remote patient monitoring and digital health services, aiming to enhance care delivery in the pain management devices sector. Luscii’s platform supports over 150 diseases, offering comprehensive remote care that significantly reduces unplanned admissions and healthcare costs for chronic conditions.

Report Scope