Share on

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 USD 5.97 billion by 2027.

Pain Management is the branch of medical science that deals with minimizing the pain of the patients. The global market will witness an uptrend in the growth rate and revenue mainly due to technological advancements. The addition of more new companies in the market will ensure that more variety of devices are available for better management of pain.

MARKET DRIVERS:

An increase in demand for alternatives for pain management drugs, which causes many side effects, many patients with chronic diseases, especially in the geriatric population, and technological advancements to develop better pain management devices are primarily driving the market growth. In addition, an increase in cancer patients and an increase in neuropathic diseases is further boosting the market.

Furthermore, the other significant factors driving the growth of the global pain management devices market are the increase in the geriatric population base worldwide and the prevalence of various chronic diseases. The primary disease which requires pain management is diabetes, and with increasing cases, the market revenue will also increase. Increasing cardiovascular diseases and cancer cases have boosted these devices' growth to manage the 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 the field of 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. The existence of a gap in 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 a longer time to get normal than expected.

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 on Investment Opportunities

Regions Analysed

North America, Europe, Asia Pacific, Latin America, 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 in the global pain management devices market. 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 to reduce pain. Traditional therapy includes the intake of medicines, which can have side effects on the body and increase these devices' popularity. The increase in population and the prevalence of chronic diseases among people remains the main positively contributing factor for the growth of the market.

Radiofrequency Ablation Devices are expected to grow at the highest rate during the forecast period. The increasing number of cases of cancer is the main positively 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. The development of technology is key to this sub-segment growth.

The Analgesic Infusion pumps are expected to witness a reasonable growth rate in the future and are 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, Neurostimulation systems play a significant role 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 behaviors in a day. Radiofrequency ablation devices played an essential role in the management of cancer pain. These devices act through high-temperature thermal therapy, which by heating tissue to 100 ° C induces the coagulation of necrotic cells. The RFA device function helps to kill cancer cells, thereby allowing for 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
  • The Middle East and Africa

Based on the region, North America dominates the global pain management devices market due to the growing number of people using these devices and also due to the development of healthcare infrastructure in this region. North America dominated the global pain management devices market in terms of revenue share in 2019 with favorable medical support that facilitates advanced pain management equipment access. Also, government initiatives such as precision medicine and affordable care laws, coupled with carefully planned reimbursement policies, contribute to the growth of the North American market. Besides, increasing awareness and high purchasing power parity are driving demand for these devices.

The European Market is expected to grow at a promising rate during the forecast period. The increasing geriatric population and the high quality of healthcare facilities are the main positively contributing factors for the market.

Asia Pacific market is expected to grow rapidly due to a large number of the aging population in this region. The main reason responsible for the high growth rate is increasing government support to improve healthcare infrastructure. With their healthcare facilities, India and China, increasing population, and high disposable incomes will help this region grow.

KEY MARKET PLAYERS:

Some of the 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:

Please wait. . . . Your request is being processed

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample