Pain Management Devices - Market Insights, Competitive Landscape, and Market Forecast - 2030

Pain Management Devices Market By Type Of Devices (Neuromodulation and Neurostimulation Devices, Analgesic Infusion Pumps [Intrathecal Infusion Pumps and External Infusion Pumps], Ablation Devices [Radiofrequency Ablation Devices and Cryoablation Devices], and Others), Application (Neuropathic Pain, Cancer Pain, Facial & Migraine Pain, Musculoskeletal Pain, and Others), and Geography is expected to grow at a steady CAGR Forecast till 2028 owing to rise in prevalence of chronic pain and musculoskeletal disorders and surge in awareness among people toward pain management devices.

The global pain management devices market was valued at USD 4.86 billion in 2022, growing at a CAGR of 7.90% during the forecast period from 2023 to 2028, to reach USD 7.67 billion by 2028. The demand for Pain Management Devices is primarily motivated by the rise in the prevalence of chronic pain, the high prevalence of musculoskeletal disorders, the surge in the geriatric population, the surge in awareness among people toward pain management devices, improved R&D investment to develop innovative products, and increasing cost of healthcare expenditure.

Pain Management Devices Market Dynamics:

The rising prevalence of different cancer types such as breast cancer, lung cancer, blood cancer, and others turns out to be an essential factor accelerating the pain management devices market. For instance, according to the data cited by the World Health Organization 2022, worldwide around 2.26 million cases of breast, 2.21 million cases of lung, 1.93 million cases of colon and rectum, 1.41 million cases of prostate, and 1.09 million cases of stomach cancer were reported in 2020. Neuropathic cancer pain (NCP) is caused by nerve damage attributable to cancer per se, and NCP management is ineffective in many cancer patients. With the introduction of better pain management devices, cancer patients may get relief from pain.

The rising prevalence of orthopedic diseases such as osteoarthritis, rheumatoid arthritis, and others is another important driver for the pain management devices market. According to World Health Organization (WHO) 2022, musculoskeletal conditions are the leading contributor to disability and worldwide around 1.71 billion people are suffering from musculoskeletal diseases such as osteoporosis, osteoarthritis, rheumatoid arthritis, and others.

According to WHO 2022, worldwide around 528 million people suffered from osteoarthritis in 2019. As per the same source, worldwide 18 million people had rheumatoid arthritis in 2019.

Osteoarthritis often referred to as degenerative or wear-and-tear arthritis affects the joints and eventually causes the smooth cartilage on the surface of the bones to wear away. Patients face significant pain, edema, and joint inflammation which limits their ability to move freely. Pain management devices are thereby helpful to treat pain.

It is predicted that the rising number of elderly patients would transform healthcare delivery and create a larger demand for a better lifestyle. As per the recent survey, Global Population Aging 2020 Report (United Nations, 2020), the aging population tends to grow at an alarming pace. In 2020, there were around 727 million individuals in the world aged 65 years or older. By 2050, the figure of such patients is expected to double and reach 1.5 billion by 2050. The cases of lower back pain, arthritis, and chronic pain increase with age. Older age patients require pain management devices to improve their living style. Thus, all these factors are projected to drive the growth of the market for pain management devices.

Companies are spending more on research and development for developing and launching innovative products. In January 2019, Boston Scientific announced the launch of an advanced chronic pain management device, which has been identified as one of the very few devices in the market with the ability to combine paresthesia and sub-perception therapy. This is expected to increase awareness about the product and boost the demand for pain management devices.

Certain factors such as hypersensitivity reactions and post-operative infections caused due to the use of these devices limit their adoption the pain management devices and also non-availability of best practice guidelines for using pain management devices poses a minor hurdle for the growth of the pain management devices market.

Pain Management Devices Segment Analysis:

By Type of Devices (Neuromodulation and Neurostimulation Devices, Analgesic Infusion Pumps [Intrathecal Infusion Pumps and External Infusion Pumps], Ablation Devices [Radiofrequency Ablation Devices and Cryoablation Devices], and Others), Application (Neuropathic Pain, Cancer Pain, Facial & Migraine Pain, Musculoskeletal Pain, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the type of devices segment, neuromodulation, and neurostimulation devices are expected to hold the largest share in the pain management devices market. The growth can be attributed to the increased prevalence of neurological disorders.

For instance, around 50 million patients are living with epilepsy worldwide, and around 2.4 million new cases are diagnosed annually, as per the data published by the Epilepsy Centre in 2020. Furthermore, According to World Health Organisation (2022) data, globally, around 50 million people have dementia, and there are nearly 10 million new cases every year. Around 60-70% of these cases are of Alzheimer's. Urgent measures to reduce this burden are therefore needed. These neurostimulators play a crucial role in treating chronic pain, Parkinson's disease, epilepsy, movement disorders, and depression. This can be due to the cost-effectiveness of neurostimulation devices, the high efficacy of transcutaneous electrical nerve stimulation (TENS) and spinal cord stimulation (SCS) devices in alleviating chronic pain, and the availability of reimbursement for SCS therapy in developed countries.

Moreover, the approval of various neurostimulation devices for the treatment of chronic pain is also expected to surge segment growth.

For instance, in September 2020, Nerivio®, a smartphone-controlled electroceutical device developed by Theranica Bioelectronics for the acute treatment of episodic or chronic migraine in adolescents received CE mark approval.

Further, key market players indulge in research and development for the development of neuromodulation and neurostimulation devices for the treatment of chronic pain could also augment the market.

Recently on January 21, 2021, Saluda Medical Pty Limited announced the positive data from multiple studies evaluating the company's Evoke® ECAP-Controlled, Closed-Loop Spinal Cord Stimulation (SCS) System for the treatment of chronic pain.

Hence, all the aforementioned factors will contribute to the segmental growth of the pain management devices market.

North America is expected to dominate the overall Pain Management Devices Market:

North America is expected to dominate the overall pain management devices market during the forecast period. The growing prevalence of chronic pain in the region is anticipated to boost the demand for pain management devices during the forecasted period.

For instance, as per the data published in the year 2021 by the Centers for Disease Control and Prevention (CDC), it has been estimated that there will be around 78.4 million people suffering from doctor-diagnosed arthritis by 2040, and out of that two-thirds will be the women population.

As per the same source, an estimated 34.6 million adults will face arthritis-attributable activity limitations in the US by 2040. Arthritis is linked with pain in joints. There are many drug-free options for patient to consider, such as TENS, such as device TENS therapy by Omron Health.

Additionally, recent product approval and launches by the companies actively manufacturing devices for pain management will also contribute to the market growth.

For instance, in June 2021, NeuraLace announced FDA 510(k) clearance and the US Launch of Axon Therapy® Peripheral Nerve Stimulation System for chronic pain relief.

Moreover, increasing government initiatives, such as the Precision Medicine and Affordable Care Act, along with a well-planned reimbursement scenario in this region is contributing to market growth.

Thus, all the above-mentioned factors will lead to an increase in the United States pain management devices market growth during the forecasting period of 2023-2028.

Pain Management Devices Market Key Players:

Some of the key market players operating in the pain management devices market include Smiths Medical, B. Braun Melsungen AG, Baxter, Boston Scientific Corp., Colfax Corp., Medtronic Plc, Nevro Corp., Abbott, Stryker, Omron Healthcare, Inc., Stimwave LLC, and others.

Recent Developmental Activities in the Pain Management Devices Market:

• In July 2022, Nevro Corp. received FDA approval for its Senza® System for the treatment of chronic pain associated with Painful Diabetic Neuropathy (PDN).
• In July 2022, Unity HA received Breakthrough Device Designation by FDA for the Pulsante® SPG Microstimulator System for the treatment of acute pain associated with chronic cluster headaches.
• In May 2022, SoftWave Tissue Regeneration Technologies patented extracorporeal shock wave device called the OrthGold 100® was cleared by the FDA, for the indications of a temporary increase in local blood circulation, relief of minor aches and pains, and activation of connective tissue.

Key Takeaways from the Pain Management Devices Market Report Study

• Market size analysis for current market size (2022), and market forecast for 5 years (2023-2028)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global pain management devices market.
• Various opportunities available for the other competitor in the pain management devices market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for market growth in the coming future?

Target Audience who can be benefited from This Pain Management Devices Market Report Study

• Pain Management Devices providers
• Research organizations and consulting companies
• Pain Management Devices-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders
• Various End-Users who want to know more about the pain management devices market and the latest technological developments in the pain management devices market.

Frequently Asked Questions for the Pain Management Devices Market:

1. What are Pain Management Devices?

Pain management devices are medical devices that are used in management of different types of pain such as neuropathic pain, cancer pain, nociceptive pain, musculoskeletal pain, and others.

2. What is the market for global pain management devices?

The global pain management devices market was valued at USD 4.86 billion in 2022, growing at a CAGR of 7.90% during the forecast period from 2023 to 2028, to reach USD 7.67 billion by 2028.

3. What are the drivers for the pain management devices market?

The major drivers driving the demand for pain management devices are the increase in the prevalence of chronic pain, the high prevalence of musculoskeletal disorders, the surge in the geriatric population, the surge in awareness among people toward pain management devices, and the growing cost of healthcare expenditure.

4. Who are the key players operating in the global pain management devices market?

Some of the key market players operating in the pain management devices market include Smiths Medical, B. Braun Melsungen AG, Baxter, Boston Scientific Corp., Colfax Corp., Medtronic Plc, Nevro Corp., Abbott, Stryker, Omron Healthcare, Inc., Stimwave LLC and others.

5. Which region has the highest share in the pain management devices market?

North America is expected to dominate the overall pain management devices market during the forecast period, 2023 to 2028. this domination is due to the growing demand for advance technologies, the increasing chronic disease in the region, and the high adoption of technological advancements owing to the rise in healthcare expenditure by the US government.