Transparency Market Research’s most recent report on the global pain management devices market, covering the historical period from 2017 to 2019 and forecasting from 2021 to 2028, indicates that the growth of the market is anticipated to be propelled by factors such as the expanding geriatric demographic, escalating prevalence of chronic illnesses, and the advent of innovative technologies.
Global pain management devices market reached US$ 4.1 Bn in 2020, expected to grow at 6.4% CAGR till 2028, reaching US$ 7.1 Bn. Growth driven by rising incidences of arthritis, cancer, trauma, and neurological diseases. Factors include advanced healthcare facilities, increased hospitals, sports injuries, and lifestyle diseases. However, challenges include low pain clinic numbers, shortage of specialists, lack of awareness, and high device costs.
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Rise in Number of Surgeries Performed: Key Driver
- The number of surgical procedures performed across the world has increased significantly over the past few years. This can be attributed to the increase in geriatric population and rise in rates of obesity and other lifestyle diseases. Obesity is one of the leading causes of cardiovascular and orthopedic diseases.
- The primary application of infusion pumps is analgesia/pain management. Following bariatric surgery, cardiothoracic surgery, and laparoscopic cholecystectomy, infusion pumps are commonly used for the local administration of narcotic analgesics and anesthetics.
Leading players:
Baxter International, Inc.,Bio-Medical Research (BMR) Ltd.,Boston Scientific Corporation,DJO Global, Inc.,Medtronic plc,Stryker Corporation,B. Braun Melsungen AG,Avanos Medical, Inc.,Microtransponde,Among others
Market Segmentation:
- Product Type
- Electrical Stimulation Devices
- Transcutaneous Electrical Nerve Stimulation (TENS) Devices
- Neuromuscular Electrical Stimulation (NMES/EMS) Devices
- Other electrical stimulation devices (electrotherapy devices, combination devices, TNS, TMS, etc.)
- Radiofrequency Ablation Devices
- Analgesic Infusion Pumps
- Intrathecal Infusion Pumps
- External Infusion Pumps
- Neurostimulation Devices
- Spinal Cord Stimulation (SCS) Devices
- Deep Brain Stimulation Devices
- Vagus Nerve Stimulation Devices
- Sacral Nerve Stimulation Devices
- Electrical Stimulation Devices
- Application
- Electrical Stimulation Devices
- Neuropathic Pain
- Cancer Pain
- Facial & Migraine Pain
- Musculoskeletal Pain
- Trauma
- Neurostimulation Devices
- Neuropathic Pain
- Cancer Pain
- Facial & Migraine Pain
- Musculoskeletal Pain
- Analgesic Infusion Pump
- Neuropathic Pain
- Cancer Pain
- Trauma
- Musculoskeletal Pain
- Radiofrequency Ablation Devices
- Neuropathic Pain
- Cancer Pain
- Musculoskeletal Pain
- Electrical Stimulation Devices
North America Offers Lucrative Growth Opportunities
North America’s prominence in the pain management devices market stems from advancements in novel technologies, fueled by the prevalence of chronic ailments and sports-related injuries. Additionally, the region’s growth is driven by innovative technologies and robust healthcare infrastructure, supported by increased investments in research and development.
In Latin America, rising disposable income and growing awareness about the safety of pain management devices present lucrative opportunities for market expansion. Meanwhile, the Asia Pacific market is experiencing growth due to increasing cases of chronic wounds, diabetes, and musculoskeletal issues, with countries like China and India leading the market owing to their rapidly evolving healthcare infrastructure.
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Key Developments:
- In May 2021, NeuraLace Medical, Inc., a medical device company, announced that it has enrolled the first patient as part of the AXON-RCT U.S. Axon Therapy provides relief from chronic nerve pain by delivering focused magnetic pulses that activate the damaged peripheral nerve axons.
- In March 2021, Hinge Health, a digital musculoskeletal clinic, announced the acquisition of Enso, a clinically validated non-invasive technology that aids people suffering from musculoskeletal pain. This merger of Hinge Health’s digital MSK Clinic and Enso’s technology invites in a new era of pain management.
- In January 2021, Abbott announced the upcoming release of NeuroSphere myPath, a digital health app designed to track and record patient outcomes, pain, and well-being associated with spinal cord stimulation (SCS) therapy. It is a digital innovation that will aid in the relief of chronic pain patients who are eligible for SCS and DRG therapy.
Regions Covered:
North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)
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