Pain Management Devices Market, By Product (Radiofrequency Ablation, Neurostimulation), By Application (Cancer, Neuropathic), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2034

Report Code: PMI455720 | Publish Date: February 2024 | No. of Pages: 170

Global Pain Management Devices Market Overview

Pain Management Devices Market was valued at US$ 3.3 Billion in 2024 and is projected to grow at a CAGR of 7.9%to reach US$ 6.6 Billion by 2034.

Pain management is a branch of medical science, which eases the suffering of the patients who have chronic pain. Acute pain has sudden onset of action, whereas chronic pain persists for a longer duration, which leads to need for its management. Pain management devices are medical device that are used in management of different types of pain such as neuropathic pain, cancer pain, nociceptive pain, musculoskeletal pain, and others. Spinal cord stimulators, transcutaneous electrical nerve stimulation devices, analgesic infusion pumps, and ablation devices are various types of pain management devices available in the market. For instance, according to the CDC, over 54 million cases of arthritis were recorded in the U.S. in 2019, making it the primary reason for work disability. This has fueled the demand for pain management stimulators to manage chronic pain. 

Pain Management Devices Market

Global Pain Management Devices Market Drivers & Restraints

Increasing cases of Chronic Cases

The increasing cases of chronic diseases is one of the key factors expected to contribute to the growth of the market over the forecast period. The growing prevalence of lifestyle disorders, such as obesity and diabetes, has increased the demand for muscle and nerve stimulators, thereby augmenting the market growth. The rising cancer cases are expected to further increase product demand over the forecast period. Moreover, the high prevalence of musculoskeletal disorders, such as arthritis, osteoarthritis, orthopedic degenerative disorders, and rheumatoid arthritis, and a resultant rise in cases of chronic pain and inability to carry out routine tasks, will boost product demand.

Increase Demand for Pain Management Devices

increase in demand for pain management devices among the developing countries and rise in adoption of pain management devices for management of chronic pain are other factors that contribute toward the growth of the market. Furthermore, untapped potential offered by developing economies present lucrative opportunities for market expansion during the forecast period.

                                                           Restraints: High Cost

The high costs associated with hospitalization have increased the need for a reduced hospital stay and the need to shift to less expensive care settings, thus boosting product demand. For instance, the average hospital stay cost accounted for around USD 15,734 in 2018. Moreover, technological advancements are anticipated to drive further growth. For instance, in September 2020 Boston Scientific Launched Wave Writer Alpha Spinal Cord Stimulator Systems for personalized pain relief. In June 2020, Abbott partnered with Tandem Diabetes Care to develop integrated diabetes solutions.

                                                                   Effects of Pain Management Devices

Hypersensitivity reactions and post-operative infections caused due the use of these devices limit their adoption, which hampers the growth of the market. Moreover, these devices are usually used as second line of treatment in patients with chronic pain who become resistant to drug therapy, which limits the growth of the global pain management devices market.

Global Pain Management Devices Market Segmentations & Regional Insights

The pain management devices market is segmented based on product, application, and region.

On the basis of product, the global pain management devices market is segmented into radiofrequency ablation, neurostimulation. On the basis of application, the target market is segmented into cancer, neuropathic.

Regional Insights:

Pain Management Devices Market was valued at US$ 3.3 Billion in 2024 and is projected to grow at a CAGR of 7.9%to reach US$ 6.6 Billion by 2034..On region the global pain management devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.  North America accounted for the largest revenue share of 46.9% of the global market owing to the favorable healthcare infrastructure, which facilitates easy access to advanced pain management devices. 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. Asia-Pacific presents lucrative opportunities for the key players operating in the pain management devices market, owing to surge in awareness about implantable pain management devices and rise in adoption of pain management devices products. Improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, development of the R&D sector, increase in number of target population, rise in healthcare reforms, and technological advancements in the field of healthcare further contribute toward the market growth.

Pain Management Devices Market Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024– 2034

Market representation

Revenue in USD Million & CAGR from 2024– 2034

Market Segmentation

By Product- Radiofrequency ablation, Neurostimulation

By Application– Cancer, Neuropathic

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

Pain Management Devices Market Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global pain management devices market report based on product, application, and region.

Pain Management Devices Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Pain Management Devices Market Competitive Landscape & Key Players

The key players operating in the global pain management devices market includes Abbott Laboratories, B Braun Melungeon AG, Baxter International Inc., Boston Scientific Corp., DJO Global LLC., Johnson & Johnson (Codman And Shurtleff, Inc.,), Kimberly Clark Corporation, Medtronic Plc., Pfizer, Inc., and Stryker Corp. For instance, in September 2020 Boston Scientific Launched Wave Writer Alpha Spinal Cord Stimulator Systems for personalized pain relief. In June 2020, Abbott partnered with Tandem Diabetes Care to develop integrated diabetes solutions.

Pain Management Devices Market Size

Global Pain Management Devices Market Recent News

  • In March 2024, New Non-Opioid Pain Meds Hold Promise, But Face Clinical Development and Insurer Challenges. Prescription opioids are effective at relieving pain, and now that so many of the medications are generic, they’re cheap, too. Moreover, contrary to public perception, the problem of misuse, abuse, and diversion of prescription opioids has been much less of a factor in the opioid crisis in recent years than illicit opioids.
  • In January 2024, Vertex Pharmaceuticals of Boston announced that it had developed an experimental drug that relieves moderate to severe pain, blocking pain signals before they can get to the brain. It works only on peripheral nerves — those outside the brain and the spinal cord — making it unlike opioids. Vertex says its new drug is expected to avoid opioids’ potential to lead to addiction.
  • In January 2024, Nalu shares positive long-term data for chronic pain device at NANS 2024. The development comes after the company raised $65m to expand clinical evidence for its neurostimulation system.
  • In December 2023, MedUni Vienna scientists discovered a new pain medication with fewer side effects. In an international study led by MedUni Vienna, an opioid-like molecule has now been developed which, as shown in animal models, can effectively alleviate pain but with fewer undesirable side effects.

Global Pain Management Devices Market Company Profile

  • Abbott Laboratories
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

B Barun Melsungen AG

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Baxter International Inc.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Boston Scientific Corp.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

DJO Global LLC

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Johnson & Johnson

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Kimberly Clark Corp.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Medtronic PLC.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Pfizer Inc.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

Stryker Corp.

  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

FAQs

The global pain management devices market is segmented based on product, application, and region.

Rising cases of chronic diseases as well as demand for such devices is the major factor driving growth of the global market

North America accounted for the largest revenue share of 46.9% of the global market owing to the favorable healthcare infrastructure, which facilitates easy access to advanced pain management devices. Asia-Pacific is showing significant growth in this market.

Key players operating in the global market includes Abbott Laboratories, B Braun Melsungen AG, Baxter International Inc., Boston Scientific Corp., DJO Global LLC., Johnson & Johnson (Codman and Shurtleff, Inc.,), Kimberly Clark Corporation, Medtronic Plc., Pfizer, Inc., and Stryker Corp.