Pain Management Devices Market Size, Share & Trends Analysis Report By Type (Neuromodulation and neurostimulation devices, Analgesic infusion pumps, Ablation devices), By Applications (Cancer pain, Neuropathic pain, Facial and migraine pain, Musculoskeletal pain, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global pain management devices market size was worth USD 4,121.7 million in 2022. It is estimated to reach USD 6,788.2 million by 2031, growing at a CAGR of 5.7% during the forecast period (2023–2031). The increase in the prevalence of chronic diseases and the rise in the geriatric population is expected to drive the need for pain management devices to treat chronic pain, thereby boosting the pain management devices market's growth.

Highlights

• Neuromodulation and Neurostimulation Devices dominate the type segment
• Neuropathic Pain dominates the application segment
• North America is the highest shareholder in the global market

Medical devices and equipment used to treat and relieve chronic or acute pain are pain management devices. These devices include neuromodulation and neurostimulation devices, analgesic infusion pumps, and ablation devices, varying from basic portable devices to complex implants. These devices treat various illnesses in the worldwide market for pain management devices, including back, cancer, neuropathic, and musculoskeletal pain. They generally aim at people suffering from chronic pain and seek non-pharmacological options such as nerve stimulation and physical therapy.

Market Dynamics

Global Pain Management Devices Market Drivers:

Increase in Prevalence of Chronic Diseases

The rise in the number of chronic diseases, such as stroke, type II diabetes, cancer, and others, drives the pain management devices market growth. For example, cancer is one of the leading causes of death across the globe. According to GLOBOCAN 2020 estimation, nearly 19.3 million new cancer cases were found worldwide in 2020. Moreover, according to the Union for International Cancer Control's (UICC) guidelines, pain is experienced by nearly 55% of patients undergoing anti-cancer treatment. Furthermore, as per the National Cancer Institute, around 80% of advanced-stage cancer patients suffer moderate-to-severe pain. According to the Heart Disease and Stroke Statistics report published in 2018, cardiovascular disease, recorded as the underlying cause of death, accounts for approximately 836,546 deaths in the U.S. Similarly, stroke is one of the major causes of deaths, as it accounted for 16.8% of the total deaths worldwide in 2018. The demand for pain management devices is expected to increase considerably, owing to the number of cancer and stroke patients. This is expected to boost the growth of the global market. Thus, the increase in the prevalence of chronic diseases acts as a key driver for market growth.

Rise in Geriatric Population

Various forms of chronic diseases are most commonly diagnosed among the elderly population, as aging people are highly susceptible to these diseases. According to the Population Reference Bureau, in 2018, the elderly population in the U.S. accounted for 52 million; this number is anticipated to increase to 95 million by 2060. The increase in the geriatric population, coupled with cardiovascular diseases, joint pain, cancer, and arthritis, are the major factors fueling the market's growth. Thus, the rise in the geriatric population is expected to drive the need for pain management devices to treat chronic pain, thereby boosting the market's growth.

Global Pain Management Devices Market Restraint:

Preferable Use of Medications for Pain Management

Pain management can be simple or difficult, depending on the severity of the pain and its causes. In treating acute and chronic pain, medication is preferred as the first line of treatment to reduce its symptoms. It is observed that analgesic infusion pumps, nerve stimulation devices, and other pain management devices are not preferred during short-term pain management. Physicians prefer conventional, oral, and systemic fast-acting pain-controlling medication as the first treatment choice. Thus, the preferable use of medications for pain management hampers the growth of the market for pain management devices .

Global Pain Management Devices Market Opportunities:

Growth Opportunities in Emerging Markets

Opportunities in untapped, emerging markets will likely drive the growth of the pain management industry due to improved healthcare industry infrastructure, the rise in medical device industries, and an increase in demand for pain management devices. The healthcare industry in emerging economies is growing at a higher rate due to an augmentation in demand for better-advanced manufacturing systems and significant government investments to improve healthcare infrastructure. In addition, medical device manufacturers are focusing on expansions in developing regions such as India, China, and Japan due to increased demand for pain management devices. The U.S. has one of the biggest medical device markets, and among BRIC nations, China leads the market, followed by Brazil, Russia, and India. The development of the medical device industry has been witnessed in Asian countries due to the abundant availability of resources. These factors are projected to spread numerous market opportunities during the forecast period.

Regional Analysis

The global pain management devices market share is bifurcated based on region into North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant global pain management devices market shareholder and is estimated to grow at a CAGR of 5.3% over the forecast period. The U.S. is the largest revenue contributor in North America and a mature market. The presence of major key players in the region, such as Boston Scientific Corporation, Abbott Laboratories, and Johnson and Johnson, is a major factor contributing to the growth of the pain management devices industry. In addition, the increase in demand for muscle and nerve stimulators, the rise in prevalence of chronic pain, the surge in demand for pain management devices, the presence of advanced healthcare facilities with trained medical professionals, and a higher number of RandD activities to develop innovative devices significantly contribute toward the growth of the North America market. An increase in the prevalence of musculoskeletal disorders, such as osteoarthritis, arthritis, rheumatoid arthritis, and orthopedic degenerative disorders, and a resultant increase in cases of chronic pain boost product demand. Also, due to high awareness among the population regarding advanced pain management devices, increased adoption of pain management devices, supportive reimbursement policies, rise in the geriatric population, and availability of advanced devices in North America. Furthermore, the rise in government initiatives such as the Precision Medicine and Affordable Care Act, well-planned reimbursement scenarios, and a rise in pain management awareness supplement the market growth in North America.

Europe will likely exhibit a CAGR of 5.7% over the forecast period. The Rise in demand for pain management devices, the strong presence of key players such as Medtronic Plc. and B. Braun Melsungen AG, and the increase in adoption of pain management devices positively impact the market growth in Europe. Moreover, the rise in the prevalence of neuropathic pain, the availability of developed infrastructure for pharmaceutical and medical devices, and the increase in the geriatric population are the other key growth drivers of the European market. The markets for pain management devices in Germany, France, and the UK are anticipated to exhibit significant growth due to the strong presence of key players, the availability of developed healthcare infrastructure, and technological innovations in pain management devices. The presence of developed infrastructure in the healthcare industry and the availability of trained professionals are the other key growth drivers of the European market.

The Asia-Pacific market will likely show the fastest market growth over the forecast period, owing to improvements in healthcare infrastructure, the availability of pain management devices, a surge in healthcare reforms, and technological advancements in the healthcare field. Furthermore, major manufacturers have been focused on extending their geographical presence in rising Asia-Pacific nations to capitalize on market development prospects. Furthermore, due to a huge patient population, a considerable surge in demand for modern medical facilities, and an increase in R&D efforts to create novel pain management devices, China is expected to expand at the quickest CAGR throughout the projected period.

LAMEA is in its nascent phase due to the lack of availability of trained medical professionals and medical device manufacturers. This is attributed to an increase in healthcare expenditure. In addition, the rise in government funding and the development of programs for healthcare awareness drive the market growth in LAMEA. Brazil was the major shareholder in LAMEA in 2020, accounting for about 31.06% share of the LAMEA pain management devices industry.

Segmental Analysis

The global pain management devices market is bifurcated into types and applications.

The global market for pain management devices is bifurcated based on type into neuromodulation and neurostimulation devices, analgesic infusion pumps, and ablation devices.

The neuromodulation and neurostimulation devices segment dominates the global market and will likely exhibit a CAGR of 5.7% over the forecast period. Neurostimulation is the invasive or non-invasive process to control and alter neural activities for therapeutic applications. These devices are used for neurostimulation function by stimulating nerve impulses or inhibiting pain signals at target sites, such as the central, autonomic, peripheral, and others. The rise in demand for neuromodulation and neurostimulation devices, an increase in patient awareness toward neurostimulation devices for treating chronic pain, and the launch of innovative products drive the market growth of this segment. In addition, the rise in the prevalence of neurological disorders such as Parkinson's disease, migraine, and chronic pain with the surge in the adoption of neurostimulation and neuromodulation devices for pain management is expected to drive the market growth. Moreover, the increase in demand for safer, more effective, minimally invasive, and cost-effective treatments further supports the market growth. Key players such as Medtronic, Abbott Laboratories, and Boston Scientific Corp. operate in this market.

Based on application, the global pain management devices market is bifurcated into cancer, neuropathic, facial and migraine, musculoskeletal pain, and others.

The neuropathic pain segment owns the global market and is predicted to exhibit a CAGR of 5.5% over the forecast period. Neuropathic pain is a persistent disorder caused by somatosensory nervous system injury or illness. Neuropathic pain does not appear suddenly or disappear fast; it is a chronic illness that causes enduring pain. According to an article by O. van Hecke et al., about one in three Americans experience chronic pain. Of those, one in five experience neuropathic pain; as many as 10% of Americans experience some form of neuropathic pain. The surge in the target population, along with an increase in several risk factors such as diabetes, HIV, multiple sclerosis, and cancer, technological advancement in pain management devices, and a surge in demand for pain management devices for the management of neuropathic pain are the major factors that drive the market growth. Spinal cord stimulation, peripheral nerve stimulation, and analgesic pain pumps are widely used to treat neuropathic pain.

Recent Developments

• May 2023- The FDA has authorized Prialt, a new medicine for treating severe chronic pain. Prialt is a long-acting opioid that is administered through spinal injection.
• March 2023- Johnson and Johnson announced a $6.5 billion acquisition of Momenta Pharmaceuticals. Momenta is a pain management medication developer.