USD 7.0 billion
Pain Management Devices Market Size, Share, Growth Analysis, By Type(Neurostimulation Device (TENS, and Spinal Cord Stimulation), Ablation Devices (RF Ablation Device and Cryoablation), Infusion Pumps (Intrathecal Infusion Pumps), By Mode of Purchase(Prescription, and Over the Counter), By Application(Cancer Pain, Neuropathic Pain, Facial Pain & Migraine, Musculoskeletal Pain), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2502 |
Region:
Global |
Published Date: August, 2024
Pages:
219
|Tables:
67
|Figures:
75
Pain Management Devices Market Insights
Global Pain Management Devices Market size was valued at around USD 12.76 billion in 2022 and is expected to rise from USD 15.50 billion in 2023 to reach a value of USD 73.7 billion by 2031, at a CAGR of 21.5% over the forecast period (2024–2031).
The market for pain management devices is growing exponentially due to the increasing prevalence of chronic pain conditions and technological advancements. Chronic pain affecting millions of individuals across the globe has become an important healthcare issue. Pain management including electrical stimulation, radiofrequency ablation devices and intrathecal drug delivery systems is central to the management of chronic pain, leading to alternative non-drug targeted analgesic approaches to the use of conventional alternatives. Conditions such as rheumatoid arthritis, cancer, and arthritis pain are driving the demand for effective, long-term pain management.
The market also benefits from patients and healthcare professionals recognizing the benefits of these devices. Risks associated with their use, such as complications, remain major barriers to the market's growth. Despite these challenges, driven by technological advancements, which improve the effectiveness and accessibility of pain management devices, the market continues to grow.
Market Snapshot - 2024–2031
Global Market Size
Largest Segment
Neurostimulation
Fastest Growth
Neurostimulation
Growth Rate
9.3% CAGR
Global Pain Management Devices Market ($ Bn)
Country Share for North America Region (%)
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Pain Management Devices Market Segmental Analysis
The global pain management devices market is segmented based on type, mode of purchase, application, and region. Based on product, the market is segmented into Neurostimulation Devices (TENS, and Spinal Cord Stimulation), Ablation Devices (Radiofrequency Ablation Devices and Cryoablation) and Infusion Pumps (Intrathecal Infusion Pumps, and External Infusion Pumps). Based on mode of purchase, the market is segmented into Prescription, and Over-the-counter. Based on application, the market is segmented into Cancer Pain, Neuropathic Pain, Facial Pain & Migraine, Musculoskeletal Pain, and Others. Based on region, the market is widespread in North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Product
Neurostimulation products accounted for the largest revenue share of 57.7% in 2022. This dominance can be attributed to the rise in neurological disorders. These neurological disorders are important in Parkinson's, epilepsy, lack of pain treatment, movement disorders and depression. Furthermore, factors such as the introduction of sophisticated products, increasing demand and growing aging population are expected to propel the market. For example, according to the UK government, the population aged 70 to 74 rose from 3,252 in 2018 to 3,390 in 2021. The aging population is supposed to drive the market, because older people are at increased risk of developing chronic diseases.
Radiofrequency ablation is the fastest growing segment in the market. Radiofrequency ablation (RFA) is expected to exhibit the fastest CAGR of 9.7% during the forecast period owing to its high application in pain management, gynecology, surgical oncology, aesthetics, cardiology & cardiac rhythm management. Radiofrequency ablation therapy is more helpful in treating patients with multiple tumors than patients undergoing open surgery, thus increasing volume growth.
Analysis by Application
Neuropathic pain is the dominating segment in the market. The neuropathic pain segment accounted for the largest revenue share of 31.9% in 2022. This dominance can be attributed to the increasing activities of industry players and reaching the targeted individuals increased side. As millions of adults are experiencing chronic high-impact pain that interferes with daily activities or life activities, improvement is expected from the above measures.
The cancer segment is expected to grow at the fastest CAGR of 10.0% during the forecast period. The increased stiffness in cancer patients has raised the need for mechanical analgesia to alleviate pain, especially due to tumor contraction and other variables dependent on cancer progression. According to a study published in November 2022 by the Indian Journal of Medical Research, about 14,61,427 cases of cancer were reported in India. About 1 in 9 people are at risk of developing cancer in their lifetime.
Global Pain Management Devices Market By Product (%)
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Pain Management Devices Market Regional Insights
North America accounted for the largest revenue share of 46.3% in 2022 due to advanced healthcare infrastructure facilitating access to cutting-edge pain management devices. Government policies and growing trends, such as Precision Medicine and the Affordable Care Act, along with well-planned reimbursement plan Facilities, growing elderly population, and high prevalence of stroke & hypertension. With the increasing number of older adults, the market is expected to show the significant growth as this population becomes more susceptible to chronic conditions.
According to the Australian Institute of Health and Welfare, chronic musculoskeletal diseases affect approximately 30% of the Australian population. Additionally, key companies in the sector include Boston Scientific Corporation, Medtronic, Baxter International Inc., Abbott, Stryker. There is also Corps involvement, which supports market growth. These players develop strategies to achieve a higher level of industry participation. Asia-Pacific is expected to grow at an attractive CAGR of 11.1% during the forecast period owing to R&D investments to develop technology-enhanced healthcare processes.
Global Pain Management Devices Market By Geography
- Largest
- Fastest
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Pain Management Devices Market Dynamics
Pain Management Devices Market Drivers
Rise of Chronic Pain
- The high prevalence of chronic pain conditions, especially in the elderly population, is a major cause of pain management devices. Chronic pain, which can be caused by conditions such as arthritis, cancer, postoperative recovery obtaining results have become increasingly common, leading to a greater demand for effective pain management. The need for lengthy-time period pain remedy without the dependence on opioid medicines is pushing each patient and healthcare companies are searching for opportunity treatment options, thereby boosting the adoption of ache control devices.
Technological Advances
- Technological innovations in the development and use of pain management devices are another important factor driving the growth of the market. New technologies such as spinal stimulants, neurostimulators, and transdermal stimulation (TENS) have greatly improved the effectiveness of pain management. These advances have led to devices has grown to be user-friendly and more accurate within the targeting ache resources and delivering treatment. The endured development of less difficult gadgets and the integration of digital health systems similarly strengthens the appeal of ache control devices, encouraging their tremendous adoption.
Restraints
Increased Equipment Costs
- One of the major limitations of the pain management devices market is the high cost associated with these devices. Advanced pain management, especially nerve replacement devices and implant systems, can be very expensive for many patients. High initial costs, coupled with ongoing requirements for repairs and replacement options, limit the availability of these devices. The associated costs, particularly in the low and middle-income areas, for healthcare professionals who can choose affordable pain management use these devices options.
Risk of Equipment-related Complications
- Potential complications associated with pain management devices are another major barrier to market growth. Issues such as implant site infections, mechanical malfunctions, and implant adverse reactions can pose the significant risks to patients. These complications affect patient outcomes but also cause hesitation among healthcare professionals in recommending these devices. The need for strict post-market surveillance and potential legal liability associated with the injury devices further compound these challenges, hampering the market expansion.
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Pain Management Devices Market Competitive Landscape
To increase their market penetration, key vendors are continually engaged in the strategic efforts such as the technology innovation, partnerships, geographical expansion, and mergers and acquisitions. For instance, Medtronic announced the commercial introduction of the InterStim Micro Neurostimulator, a neurostimulator that has received FDA approval, in August 2020. The device was designed to aid patients in regaining reliable bladder and bowel control through sacral neuromodulation (SNM) therapy.
Top Player’s Company Profiles in Pain Management Devices Market
- MEDTRONIC (Ireland)
- ABBOTT LABORATORIES (US)
- BOSTON SCIENTIFIC CORPORATION (US)
- STRYKER CORPORATION (US)
- Becton, Dickinson and Company (US)
- B. BRAUN MELSUNGEN AG (Germany)
- BAXTER INTERNATIONAL INC. (US)
- AVANOS MEDICAL, INC. (US)
- TELEFLEX, INC. (US)
- NIPRO CORPORATION (Japan)
- MOOG INC. (US)
- ATRICURE (US)
- NEVRO CORP. (US)
- MINDRAY MEDICAL INTERNATIONAL LIMITED (China)
- SHENZHEN MEDRENA BIOTECH CO., LTD. (China)
- EPIC MEDICAL (US)
- SOTERIX MEDICAL (US)
- INFUTRONIX SOLUTIONS LLC (US)
- BLUEWIND MEDICAL (US)
- NEURONANO (US)
- MICROTRANSPONDER (US)
Pain Management Devices Market Recent Developments
- In May 2024, the FDA has approved Medtronic’s closed-loop rechargeable spinal cord stimulator (SCS), Inceptiv, as a new treatment for chronic pain. With this approval, the SCS device becomes the first on market to offer a closed-loop feature that senses biological signals along the spinal cord. This stimulator will automatically adjust stimulation in real time and keep therapy in sync with daily activities of living.
- In April 2024, triCure launched the cryoSPHERE+ cryoablation probe, a device designed to improve post-operative pain management. This new probe consists of advanced insulation technology which reduces freeze times by 25% compared to the legacy cryoSPHERE device.
- In November 2023, A study published in JAMA Network Open, a team at The Ohio State University Wexner Medical Center looked into a drug-free and non-invasive alternative to managing patients' pain after C-section. The team studied the use of a device that emits electrical pulses when held near the C-section incision site, and they found that patients who received the treatment used 47% less opioids to control their pain compared to those who did not receive the treatment.
Pain Management Devices Key Market Trends
- Shift Towards Non-Invasive Devices: A key trend in the pain management tool marketplace is the increasing call for non-invasive devices. Patients and healthcare specialists are choosing non-invasive methods inclusive of TENS and wearable ache control gadgets, which give powerful ache alleviation without the need for surgical procedure or implantable gadgets. These non-invasive techniques are gaining reputation because of their ease of use, low threat of complications and low fee as compared to invasive techniques. Since new devices with many implants are entering the market and offering a wide range of pain relief solutions to patients, this trend is expected to continue.
- Integrating Digital Health Technologies: The integration of digital health technology with pain management devices is another emerging trend in the marketplace. Devices with capabilities which include far off sensing, information analytics and integration with mobile programs are becoming increasingly more famous. This technology enables real-time monitoring of affected person data, allowing personalized treatment planning and greater effective ache control. The adoption of virtual fitness solutions also improves patient engagement and adherence to remedy plans, main to improved effects. This trend is probably to boost up as the healthcare industry maintains to embrace digital transformation.
Pain Management Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the market for pain management devices is poised for further growth, driven by increasing chronic pain conditions and continuous technological advancements. Despite challenges such as increasing cost of devices, possible device-related complications, demand for effective, long-lasting pain relief pushes the market forward. Key factors including flexibility to the integration of non-wearable devices and digital health technologies, as well as a focus on reducing risks will be critical to ensure sustainable growth.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.76 billion |
| Market size value in 2031 | USD 73.7 billion |
| Growth Rate | 21.5% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Pain Management Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Pain Management Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Pain Management Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pain Management Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pain Management Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pain Management Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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