The global demand for pain management devices is expected to grow at a healthy CAGR of 9% between 2022 and 2032, totaling a valuation of over USD 5.68 Billion by the end of 2032, supported by,
| Data Points | Key Statistics |
|---|---|
| Pain Management Devices Market (2021) | USD 2.2 Billion |
| Pain Management Devices Market Projected Size (2032) | USD 5.68 Billion |
| Value CAGR from 2022 to 2032 | 9.0% |
The growing geriatric population will further boost the adoption of pain monitoring devices and will lead to an increase in the global pain management devices market. Pain management devices can manage and relieve various types of pain including neuropathic pain, cancer pain, and musculoskeletal pain. Manufacturers are continuously aiming at developing innovative pain management devices.
The increasing cases of diabetes, cancer, and mental disorders along with the increasing incidence of accidents will therefore continue to provide a strong thrust to the pain management device market growth during the forecast period.
The increasing prevalence of chronic conditions and growing awareness among people regarding pain management devices and their advantage over opioids is set to propel the demand for pain management devices in the future years.
Centers for Disease Control and Prevention estimated 20.4% of USA adults (50.0 million) had chronic pain and 8.0% of USA adults (19.6 million) had high-impact chronic pain with higher prevalence associated with advancing age thereby boosting the demand for pain management devices globally.
For instance, Boston Scientific introduced the WaveWriter Alpha™ Spinal Cord Stimulator System is the latest advancement in Chronic pain therapy. This therapy is designed to provide pain relief by sending mild electric pulses to the spinal cord to interrupt pain signals traveling to the brain.
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The key driving forces for the pain management devices market in North America are a large pool of patients, increasing healthcare expenditure, and rising government funding and initiatives.
The growth of the market in the region is due to a rise in the aging population. Increase in the cancer population, increasing prevalence of lifestyle-associated disease, and increasing neuropathic disorders.
In addition, increasing healthcare awareness and a rise in healthcare expenditure are also fuelling the growth of the global pain management devices market in North America. For instance, according to the Centre for Disease Control and Prevention, six in ten adults have a chronic disease.
Neurostimulation devices are mainly used to treat and relieve symptoms of neurological disorders including pain, epilepsy, tremor, stroke, etc. Also, neurostimulation devices are used for the treatment of various diseases associated with old age and neurotic ailments.
The rising incidence of neurological disorders, growing preferences for non-opioid treatments, and various benefits of neurostimulation devices boost the growth of the segment.
Boston Scientific also introduced a new therapy called Fast-Acting Sub-perception Therapy (FAST™). FAST is designed to allow patients to experience profound paresthesia-free pain relief in just minutes, delivering immediate and significant results to patients before they leave the clinic.
Over the years, pain management devices have gained immense traction across the world on account of their ability to manage and relieve various types of pain including neuropathic pain, cancer pain, and musculoskeletal pain. They have become ideal alternatives to pain management therapeutics like opioids due to their safe and effective nature.
Technological advancement in medical technologies is playing a crucial role in expanding the pain management devices market size. Manufacturers are continuously aiming at developing innovative pain management devices that can effectively improve the quality of life of patients.
Right from the management of chronic pain to relieving post-operating pain, patients with chronic diseases and traumatic injuries use various innovative pain management devices. The rapid surge in chronic conditions such as diabetes, cancer, and mental disorders along with the increasing incidence of accidents will therefore continue to provide a strong thrust to pain management device market growth during the forecast period.
Consequently, the rapid expansion of the pain monitoring devices market supported by a sharp rise in chronic pain cases is likely to create growth opportunities for pain management medical device companies in the future.
Principal Consultant
The global demand for pain management devices is slated to increase at a CAGR of 9% during the forecast period between 2022 and 2032. Growth in the market is driven by the rising prevalence of chronic conditions, growing awareness among people regarding pain management devices and their advantage over opioids, advancements in pain management devices, new product launches, and approvals. increase in the number of surgical procedures performed and expansion of chronic pain market size.
Pain management devices have become ideal solutions for managing and relieving acute and chronic pain triggered by cancer, migraine, musculoskeletal disorders, and several other chronic diseases. The introduction of these devices has significantly reduced the need for oral drugs, thereby allowing people to lead better life without developing any serious side effects.
The rise in the cases of chronic diseases such as cancer, diabetes, etc. worldwide will continue to provide a strong thrust to the growth of the global pain management devices market. As per the Cancer Research United Kingdom, globally there will be 27.5 million new cases of cancer each year by 2040.
The presence of these diseases triggers chronic pain that affects their life quality and work activities. As a result, people opt for pain management devices.
Similarly, growing concerns regarding drug addiction and the side effects of pain management therapeutics are encouraging people to adopt pain management devices. For instance, as per the National Survey on Drug Use and Health Report, around 10.1 million people aged 12 or older misused opioids in 2019.
The presence of reimbursement schemes for various pain management therapies, increasing investments in Research and Development activities, the growing popularity of wearable pain management devices, and various initiatives launched by governments will positively impact the pain management devices market growth during the forthcoming period.
What Factors are Restraining the Growth of the Pain Management Devices Market?
Some of the major factors restraining the pain management devices market growth are the high cost of pain management devices, hypersensitivity reactions and postoperative infections caused by the use of these devices, high consumption of pain management drugs as a first line of treatment, and poor availability of pain management devices in some low economic regions.
Increasing Incidence of Chronic Pain Driving Pain Management Devices Market in the USA
The USA pain management device market is poised to exhibit robust growth during the forecast period, owing to the easy availability of novel pain management devices, high level of health awareness among people, rising prevalence of chronic medical conditions like cancer, diabetes, spinal problems, etc., booming pain therapeutics solutions market, the surge in new product approvals, growing popularity of wearable medical devices, and presence of leading market players.
The rising prevalence of chronic pain is the major factor boosting the growth of the USA chronic pain market and pain management devices market. According to the Centers for Disease Control and Prevention (CDC), about 20.4% of adults had chronic pain in the United States in 2019. In order to manage and relieve this chronic pain people opt for innovative devices like implanted pain management devices.
Rising Adoption of Advanced Medical Devices Fueling Demand for Pain Management Devices in the United Kingdom
The latest pain management devices market trends indicate that demand for pain management devices across the United Kingdom is likely to grow at a healthy CAGR during the forecast period between 2022 and 2032.
This is attributable to the rising usage of technologically advanced medical devices like tens pain relief devices etc. due to their high effectiveness, the presence of some of the world's leading medical device manufacturers, increasing healthcare spending, and favorable government initiatives.
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Demand for Neurostimulation Devices to Remain During the Forecast Period
Based on type, the global pain management devices market has been segmented into neurostimulation devices, infusion pumps, and ablation devices. Among these, neurostimulation devices segment dominated the global pain management devices market in 2021 and this pain management devices market trend is likely to continue during the assessment period.
The growth of this segment is attributable to the rising incidence of neurological disorders, growing preferences for non-opioid treatments, and various benefits of neurostimulation devices.
Neurostimulation devices are unique pain management products increasingly used by people to treat and relieve symptoms of neurological disorders including pain, epilepsy, tremor, stroke, etc. The rising adoption of these devices will significantly expand pain management devices market size during the forecast period.
Similarly, the expansion of the neurostimulation market will further create growth prospects for neurostimulation device manufacturers in the future.
Neuropathic Pain to Remain the Most Lucrative Application for Pain Management Devices Market
As per FMI, the neuropathic pain application segment will continue to dominate the global pain management devices market, accounting for the largest revenue share in 2022. Factors such as a rapid surge in traumatic injuries and chronic diseases, the increasing need for managing and relieving neuropathic pain, and the booming neuropathic pain market are driving the growth of this segment.
Besides this, advances in the acute pain market coupled with the expansion of the chronic pain market size are likely to favor the growth of this segment.
Leading pain management device manufacturers are investing in research and development to introduce novel pain management devices that can provide better relief to patients suffering from severe pain. Further, they are adopting growth strategies such as partnerships, new product launches and approvals, mergers, and acquisitions to expand their global footprint.
For instance:
Know and understand the prevailing pain management devices market trends with Future Market Insights' latest industry analysis and uncover hidden opportunities across various regional pockets.
The report follows a systematic approach to analyze key growth drivers augmenting pain management devices market growth. It illustrates how advancements in medical device technologies will transform the pain management devices market.
FMI also attempts to provide answers to queries like how will the rise in chronic diseases influence pain management device sales. What makes North America a global leader in pain management technologies And Which factors are pushing the demand for pain management devices across the Asia Pacific Detailed information on this is compiled in the global pain management devices market report, which is interspersed with relevant statistics and graphs.
Besides this, a certain number of chapters have been dedicated to analyzing the leading regional pockets and segments.
The Pain Management Devices Market analysis includes:
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historic Data Available for | 2015 to 2021 |
| Market Analysis | USD Million for Value |
| Report Coverage | Market forecast, company share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, market dynamics and challenges, and strategic growth initiatives |
| Key Segments Covered |
Type , Application , Mode of Purchase , Region |
| Key regions covered | North America (USA , Canada , Rest of North America); Latin America (Brazil , Argentina , Mexico , Rest of Latin America); Western Europe (Germany , United Kingdom , France , Rest of Western Europe); Eastern Europe (Russia , Spain , Rest of Eastern Europe); South Asia Pacific (China , India , Japan , Malaysia , Thailand , Indonesia , South Korea , Rest of South Asia & Pacific); Middle East & Africa (GCC Countries , Turkey , Israel , Rest of the Middle East and Africa (MEA)); Rest of the World (Oceania , Africa , South America) |
| Application |
Neuropathic Pain , Musculoskeletal Pain , Cancer Pain , Facial Pain & Migraine , Other Applications |
| Key companies profiled | Abbott Corporation (USA); Medtronic PLC (Ireland); Boston Scientific Corporation (USA); Stryker Corporation (USA); Becton; Dickinson and Company (USA); Baxter International (USA); Nipro Corporation (Japan); B. Braun Melsungen AG (Germany); Smiths Medical Corporation (USA); Moog Inc. (USA); Avanos Medical; Inc. (USA); Atricure Corporation (USA); Nevro Corporation (USA); and Micrel Medical Devices. |
| Customization & pricing | Available upon request |
The global pain management devices market reached around USD 2.2 Billion in 2021.
As per FMI, pain management devices market is anticipated to grow at 9% CAGR throughout the forecast period totaling USD 5.68 Billion by 2032.
North America is expected to remain the most lucrative market for pain management devices.
Medtronic PLC (Ireland), Boston Scientific Corporation (USA), Abbott Corporation (USA), Becton, Dickinson and Company (USA), Baxter International (USA), B. Braun Melsungen AG (Germany), Stryker Corporation (USA), and Smiths Medical Corporation (USA) are some of the leading manufacturers of pain management devices.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Type 8.1. Neurostimulation Devices 8.1.1. Transcutaneous Electrical Nerve Stimulation (Tens) Devices 8.1.2. Spinal Cord Stimulation 8.2. Infusion Pumps 8.2.1. High Use of Infusion Pumps 8.2.2. Intrathecal Infusion Pumps 8.2.3. External Infusion Pumps 8.3. Ablation Devices 8.3.1. RF Ablation Devices 8.3.2. Cryoablation Devices 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Application 9.1. Neuropathic Pain 9.2. Musculoskeletal Pain 9.3. Cancer Pain 9.4. Facial Pain & Migraine 9.5. Other Applications 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Mode of Purchase 10.1. Prescription 10.2. Over-the-counter 11. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. Middle East and Africa (MEA) 12. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032 18. Market Structure Analysis 19. Competition Analysis 19.1. Medtronic 19.2. Abbott 19.3. Boston Scientific 19.4. Stryker 19.5. Becton, Dickinson(BD) 19.6. B. Braun Melsungen AG 19.7. Baxter International 19.8. Avanos Medical, Inc. 19.9. Nipro Corporation 19.10. Micrel Medical Devices SA 20. Assumptions and Acronyms Used 21. Research Methodology
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Pain Management Devices Market
