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Global Pain Management Devices Market Size, Share, Trends, Growth, COVID-19 Analysis Report – Segmented By Device Type, Application, Mode of Purchase and Region - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 3445
Pages: 175
Formats: report pdf report excel report power bi report ppt

Pain Management Devices Market Size (2022 to 2027)

As per our report, the global pain management devices market size is predicted to grow at a CAGR of 8.5% from 2022 to 2027. The market was worth USD 3.97 billion in 2022 and is estimated to grow by USD 5.97 billion by 2027.

Pain Management Devices Market Share Insights:

  • Based on device type, the neurostimulation segment dominated the market and held 54.6% of the global market share in 2021.
  • Based on application, the neuropathic pain segment led the market and captured 29.7% of the global market share in 2021. However, the cancer segment is predicted to grow the fastest.
  • North America was the biggest regional segment in the worldwide market in 2021.
  • The European region is expected to be valued at USD 1.45 billion by 2027.
  • The Asia-Pacific region is anticipated to grow at a CAGR of 8.4% from 2022 to 2027.

Pain management is the branch of medical science that deals with minimizing patients' pain. The global market will witness an uptrend in growth rate and revenue due to technological advancements. Furthermore, more companies entering the market with advanced solutions ensure that more devices are available for better pain management.

MARKET DRIVERS:

YOY growth in the patient count suffering from chronic diseases propels the market for pain management devices.

Chronic pain is a significant health burden affecting a vast population worldwide. It is believed that chronic pain significantly impacts the person’s quality of life and is challenging to treat with drugs alone, which paved the way for the growing demand for other pain management strategies, resulting in the growth of the pain management devices market. According to NACCD, an estimated 60% of Americans are suffering from at least one chronic disease, and chronic diseases are causing the majority of deaths in the United States. According to National Health Council, an estimated 157 million people with one chronic disease and 81 million people with multiple chronic diseases suffered in the United States in 2020.   

In addition, the growing demand for alternatives to pain management drugs, which cause many side effects, many patients with chronic diseases, especially in the geriatric population, and technological advancements to develop better pain management devices are driving the market growth. Furthermore, an increase in cancer patients and the number of people suffering from neuropathic diseases are favoring the market’s growth rate. According to an article published by National Center for Biotechnology Information (NCBI), an estimated 2.4% of the population suffers from peripheral neuropathy.

Furthermore, YOY growth in the geriatric population worldwide and the prevalence of various chronic diseases are promoting the growth rate of the pain management devices market. The primary disease which requires pain management is diabetes, and with increasing cases, the market growth will also increase. In addition, increasing cardiovascular diseases and cancer cases have boosted these devices' growth to manage pain depending on the cancer stage. Furthermore, the establishment of reimbursement schemes for various pain management therapies has positively impacted the development of the market. The advancement of technology in pain management will lead to the introduction of better products than current products and increase the revenue of the pain management devices market.

MARKET RESTRAINTS:

The significant factors that hinder the growth of the global pain management devices market are the lack of awareness regarding the availability and use of pain management devices. The shortage of pain specialists is also crucial, which impacts the pain management devices market. A gap in the prevalence and treatment of chronic pain and high procedural and purchase cost of pain management devices is the primary restraining factor for the global market.

Impact of COVID-19 on the global pain management devices market:

COVID-19 has most positively impacted the pain management devices market. The increasing cases of corona-positive people had led to a surge in cases where the positive corona patient was already affected by other diseases and showed symptoms at a greater level. According to the study, the coronavirus accelerates the growth rate of the underlying disease, and thus the demand for pain management devices has increased during the pandemic. The coronavirus affects people mostly having cardiovascular diseases, and the spread of the pandemic has ensured that the growth of pain management devices for cardiovascular problems is increasing. The lockdown due to the coronavirus has affected the supply and demand chain, and things may take longer to get average than expected. However, considering the reduced impact of COVID-19, the uplifting of the restrictions imposed earlier, and the increasing adoption of new normalization, the pain management devices market is expected to register a healthy CAGR during the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Analysed

By Device Type, Application, Mode of Purchase, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

 

This research report on the global pain management devices market has been segmented based on the device type, application, mode of purchase, and region.

Pain Management Devices Market - By Device Type:

  • Neurostimulation Devices
    • Transcutaneous Electrical Nerve Stimulation devices
    • Spinal Cord Stimulation devices
  • Ablation Devices
    • Radiofrequency Ablation Devices
    • Cryo Ablation Devices
  • Analgesia Infusion Pumps
    • Intrathecal Infusion Pumps
    • External Infusion Pumps

Based on the device type, the neurostimulation devices segment is predicted to hold the largest share of the global pain management devices market during the forecast period. Due to their extensive usage in chronic pain management, the radiofrequency ablation devices segment is projected to grow in the years to come at the fastest rate as it prevents the flow of pain signals to the brain without affecting tissues. The neurostimulation devices segment, which includes spinal cord stimulators (SCS), deep brain stimulators (DBS), and sacral neurostimulators, dominated the market in 2019. The growth of these devices is due to their ability to stimulate the spinal cord, deep brain, sacral nerve, vagus nerve, and respiratory electrical stimulation. The main reason behind the increased usage of neurostimulation devices is that they are more efficient than traditional methods of reducing pain. Traditional therapy includes taking medicines, which can have side effects on the body and increase these devices' popularity. In addition, the increase in population and the prevalence of chronic diseases among people remains the main positive contributing factor to market growth.

The radiofrequency ablation devices segment is expected to register the fastest CAGR during the forecast period. The increasing number of cases of cancer is the main positive influencing factor. These devices exert action by high-temperature thermal therapy, which induces necrotic coagulation cells by heating tissue and killing the cancer cells, providing effective pain management. Therefore, the development of technology is key to this sub-segment growth.

The analgesic Infusion pumps segment is expected to witness a notable growth rate in the future and is further subdivided into Intrathecal Infusion Pumps and External Infusion Pumps.

Pain Management Devices Market - By Application:

  • Neuropathic Pain
  • Facial Pain
  • Migraine
  • Musculoskeletal Pain
  • Cancer Pain
  • Others

Based on the application, the neuropathic pain segment is estimated to play a significant role in the global market during the forecast period. Neurostimulation is vital in treating neuropathic pain as spinal cord stimulators obtain the best results. Besides, these tools offer benefits such as personalized stimulus levels based on the person's daily behaviors.

The cancer pain segment is one of the most lucrative and is projected to witness a healthy CAGR in the coming years. Radiofrequency ablation devices play an essential role in the management of cancer pain. These devices act through high-temperature thermal therapy, which heating tissue to 100°C induces the coagulation of necrotic cells. The RFA device helps kill cancer cells, allowing effective pain relief.

Pain Management Devices Market - By Mode of Purchase:

  • Counter Purchase
  • Prescription Based Purchase

Pain Management Devices Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Based on the region, the pain management devices market in North America dominated the market in 2021, and the domination of the regional market is likely to continue during the forecast period owing to the growing adoption of the devices among healthcare professionals and people the availability of well-established healthcare infrastructure. In addition, good medical support that facilitates advanced pain management equipment access contributes to regional market growth. Also, government initiatives such as precision medicine and affordable care laws, coupled with carefully planned reimbursement policies, led to the North American market growth. Furthermore, increasing awareness and high purchasing power parity fuel the market’s growth rate.

The European pain management devices market is expected to grow at a promising CAGR during the forecast period. The increasing geriatric population and the high quality of healthcare facilities are the main positive contributing factors to the market. In addition, factors such as the increasing prevalence of chronic pain, the opioid crisis, and the growing awareness of the dangers of long-term use of pain drugs are promoting regional market growth. Furthermore, the growing adoption of technological developments and the increasing availability of insurance coverage for pain management are further propelling regional market growth.

The pain management devices market in the Asia Pacific is expected to grow rapidly due to the large aging population in this region. The regional market growth is primarily driven by the increasing government support to improve healthcare infrastructure. In addition, with their healthcare facilities, India and China's increasing population and high disposable incomes will help this region grow.

The Latin American pain management devices market is expected to hold a considerable share of the global market during the forecast period. The growing awareness regarding the available options for pain management is anticipated to play a significant role in promoting market growth in Latin America. Currently, the Latin American region lacks specialized pain clinics and trained pain management professionals, limiting the market’s growth rate. However, the conditions are changing in the Latin American region, and improvements are emerging, which are expected to result in regional market growth during the forecast period.

The pain management devices market in MEA is expected to showcase a steady CAGR in the coming years.

KEY MARKET PLAYERS:

Some major companies leading the global pain management devices market are St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic plc, Baxter International, Stryker Corporation, Pfizer, Codman and Shurtleff, B Braun Melsungen AG, and DJO Global LLC.

MAJOR HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

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FAQ's

How much was the global pain management devices market worth in 2021?

The worldwide pain management devices market was valued at USD 3.6 billion in 2021.

Which region is growing the fastest in the global pain management devices market?

The APAC region is anticipated to grow at the fastest CAGR in the global market during the forecast period.

Does this report include the impact of COVID-19 on the pain management devices market?

Yes, we have studied and included the COVID-19 impact on the global pain management devices market in this report.

What are the companies playing a leading role in the pain management devices market?

St. Jude Medical, Inc., Boston Scientific Corporation, Medtronic plc, Baxter International, Stryker Corporation, Pfizer, Codman and Shurtleff, B Braun Melsungen AG, and DJO Global LLC. are some of the noteworthy companies in the pain management devices market.

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