USD 6.40 billion
Global Pain Management Devices Market Size, Share, Growth Analysis, By Product (Electrical Stimulators, Radiofrequency Ablation (RFA)), By Application (Cancer, Neuropathic Pain) - Industry Forecast 2023-2030
Report ID: SQMIG35A2230 | Region: Global | Published Date: May, 2023 | Pages: 157 | Tables: 67 | Figures: 75
Global Pain Management Devices Market Insights
Global Pain Management Devices Market size was valued at USD 6.40 billion in 2021 and is poised to grow from USD 7.0 billion in 2022 to USD 6.42 billion by 2030, at a CAGR of 14.1% during the forecast period (2023-2030).
The rising incidence of chronic diseases is one of the major factors anticipated to fuel market expansion over the forecast period. Muscle and nerve stimulators are in greater demand due to the rising prevalence of lifestyle diseases including diabetes and obesity. Another significant aspect that could fuel market expansion is the rising incidence of trauma or hypertension. A brain aneurysm and other chronic illnesses are also considerably increased by hypertension.
The spread of the risky coronavirus has economic ramifications for almost every industry, including the one that makes medical devices. The state-wide lockout has affected patients who rely heavily on physical therapy or exercise regimens for pain management. Furthermore, a lot of elective surgeries and in-person patient visits have been postponed or canceled, which is anticipated to increase demand for at-home pain management. Omron expanded its current line of drug-free pain management devices in April 2020 by adding the new Focus TENS Therapy device for the knee. Over the projection period, the number of cancer cases is anticipated to increase further, driving up demand.
In addition, the prevalence of musculoskeletal conditions such arthritis, osteoarthritis, orthopedic degenerative illnesses, and rheumatoid arthritis is rising sharply. Chronic discomfort and the inability to perform daily tasks have become more common in these persons as a result. For instance, the CDC estimates that over 24.5% of American adults had arthritis in 2020, making it the most common cause of job incapacity. To manage chronic pain, this has increased the demand for pain management stimulators. In addition, nearly 32.5 million Americans were expected to have osteoarthritis in 2020. Furthermore, it is projected that technical developments will fuel the market even more. The company's portfolio would dramatically increase as a result. Boston Scientific Corp. completed the acquisition of Baylis Medical Company, Inc. in February 2022.
Market snapshot
Global Market Size
Largest Segment
Electrical Stimulators
Fastest Growth
Electrical Stimulators
Growth Rate
14.1% CAGR
Global Pain Management Devices Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Pain Management Devices Market By Application, 2022-2030 ($ Bn)
Global Pain Management Devices Market By Application, 2022-2030 (%)
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Global Pain Management Devices Market Segmental Analysis
The global pain management devices market is segmented based on product, application, and region. In terms of product, the market is segmented into electrical stimulators, radiofrequency ablation (RFA), analgesic infusion pumps, and neurostimulation. With regard to categorization by application, the market is segmented into cancer, neuropathic pain, facial & migraine, musculoskeletal disorder, trauma, and others. Regionwise, the global pain management devices market is widespread into North America, Europe, Asia-Pacific, South America, and MEA.
Global Pain Management Devices Market Analysis by Product
The largest portion—more than 57.5%—belonged to the neurostimulation category. The increase can be attributed to the general increase in neurological diseases. These neurostimulators are crucial for the treatment of epilepsy, Parkinson's disease, depression, Parkinson's disease-related movement abnormalities, and chronic pain. In addition, factors including the introduction of technologically advanced products, rising product demand, and an ageing population are anticipated to propel the market.
Similarly, there was an increase in the population of people between the ages of 70 and 74. Consequently, the growing elderly population is probably what will drive the market's expansion. Chronic sickness is more likely to affect this group of people. Due to its numerous applications in cosmetology, surgical oncology, gynecology, pain treatment, and cardiac rhythm management, the RFA segment is anticipated to grow at the quickest CAGR throughout the forecast period. Patients with many tumors benefit more from radiofrequency ablation treatment than from open surgery, which is what is causing the section to grow.
Global Pain Management Devices Market Analysis by Application
In terms of sales, the neuropathic pain category dominated with a market share of roughly 31.5%. The target demographic is expanding, and industry players are implementing additional strategies, which are both to blame for the growth. According to the US Centers for Disease Control and Prevention, chronic pain affected 65% of Americans aged 65 and over. Additionally, 3% to 17% of people report having neuropathic discomfort. We believe that the aforementioned factors will encourage category growth.
The cancer segment is predicted to have the fastest CAGR during the projection period. The demand for goods made to alleviate the pain brought on by nerve compression, which is primarily brought on by tumor compression and other variables dependent on the course of the cancer, has increased as a result of an increase in the number of cancer cases. Additionally, it is predicted that the market would continue to grow over the course of the forecast period as a result of the increased frequency of genetic diseases such Acute Lymphoblastic Leukemia (ALL).
Global Pain Management Devices Market By Application, 2022 (%)
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Global Pain Management Devices Market Regional Insights
North America held a revenue share of over 46.00% because of the region's favorable healthcare infrastructure, which makes it simple to obtain state-of-the-art pain management equipment. A rise in government initiatives like the Affordable Care Act and Precision Medicine, as well as a carefully planned reimbursement system in this field, are also contributing to the market's progress. The regional market is also being driven by an aging population, well-established healthcare facilities, and a high prevalence of hypertension and stroke. The market is expected to expand more swiftly as the elderly population increases since an aging population is more likely to have chronic illnesses.
The market in Asia Pacific is anticipated to grow at the fastest rate throughout the anticipated time frame. This increase may be attributed to investments in R&D that led to technologically cutting-edge healthcare treatment options. The potential for market expansion in the region is also being increased by the presence of several trade agreements. For instance, the Asia Pacific Trade Agreement (APTA), which was ratified by China, Bangladesh, India, the Lao People's Democratic Republic, the Republic of Korea, Mongolia, and Sri Lanka, has promoted trade liberalization and expanded import and export possibilities among the signatory nations.
Global Pain Management Devices Market By Geography, 2022-2030
- Largest
- Fastest
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Global Pain Management Devices Market Dynamics
Global Pain Management Devices Market Drivers
Increasing Prevalence of Chronic Pain
- The rising prevalence of chronic pain conditions, such as arthritis, cancer, and back pain, is one of the major drivers of the pain management devices market. According to the Centers for Disease Control and Prevention (CDC), an estimated 20% of U.S. adults suffer from chronic pain.
Global Pain Management Devices Market Restraints
High Cost of Pain Management Devices
- The high cost of pain management devices is a major restraint on market growth. Many of these devices are expensive, making them unaffordable for some patients and healthcare systems.
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Global Pain Management Devices Market Competitive Landscape
To increase their market penetration, key vendors are continually engaged in strategic efforts such as 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 Global Pain Management Devices Market
- Abbott Laboratories
- Medtronic
- Boston Scientific
- Pfizer
- Johnson & Johnson
- Nevro Corporation
- Baxter International
- St. Jude Medical
- B. Braun Melsungen AG
- Smiths Medical
- Hospira
- Endo International
- Djo Global
- Halyard Health
- Stryker Corporation
- NeuroMetrix
- Avanos Medical
- NIPRO Corporation
- Terumo Corporation
- Stimwave Technologies
Global Pain Management Devices Market Recent Developments
- In June 2022, Coach Care and NXTSTIM have joined to provide the first commercial remote patient monitoring (RPM) and wellness surveillance device for managing pain in the world.
- In January 2021, The WaveWriter Alpha is a portfolio of Spinal Cord Stimulator (SCS) systems from Boston Scientific Corporation that combines therapy choices for individualized pain alleviation.
Global Pain Management Devices Key Market Trends
- Increasing Demand for Non-Invasive Pain Management: Patients are increasingly seeking non-invasive pain management options, such as transcutaneous electrical nerve stimulation (TENS) devices and wearable pain management devices. These types of devices are becoming more widely available and are gaining popularity due to their ease of use and ability to provide targeted pain relief without the need for surgery or medication.
- Growing Focus on Minimally Invasive Procedures: In addition to non-invasive options, there is a growing trend towards minimally invasive procedures for pain management. This includes procedures such as nerve blocks and spinal cord stimulation, which can provide effective pain relief with fewer risks and complications than traditional surgical approaches.
- Technological Advancements: The pain management devices market is seeing significant technological advancements, with new devices being developed that are more effective and less invasive. For example, there are new neurostimulation devices that can be implanted under the skin, providing more targeted pain relief without the need for external electrodes.
- Rising Prevalence of Chronic Pain: The rising prevalence of chronic pain conditions, such as arthritis, back pain, and cancer pain, is driving demand for pain management devices. According to the Global Burden of Disease Study, low back pain is the leading cause of disability worldwide.
Global 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 our global pain management devices market analysis, the rising incidence of chronic diseases is one of the major factors anticipated to boost market expansion. Muscle and nerve stimulators are in greater demand due to the rising prevalence of lifestyle diseases including diabetes and obesity. Another significant aspect that could fuel market expansion is the rising incidence of trauma or hypertension. A brain aneurysm and other chronic illnesses are also considerably increased by hypertension.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 6.40 billion |
| Market size value in 2030 | USD 7.0 billion |
| Growth Rate | 14.1% |
| Base year | 2021 |
| Forecast period | (2023-2030) |
| 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 Global 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 Global 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 Global 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 Global 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 Global 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 Global 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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