The global pain management devices market was valued at USD 5,864.4 Million in 2023 and is expected to reach USD 10.18 Billion by the year 2032, at a CAGR of 7.1%. The pain management devices market is driven by multiple factors such as the rising incidences of chronic diseases such as cancer, migraine, musculoskeletal disorders leading to severe aching. Other factors include the enhancements in the technology of pain management devices, increasing geriatric populace in developing countries, and improved awareness regarding the effectiveness of target market products. However, the lack of skilled physicians and deficient awareness levels about such devices among people is expected to hamper the growth of this field. Pain management devices provide medical care that reduces or relieves the ache caused due to certain medical conditions. Most of these tools block the function of the pain gate to prevent the flow of pain signals to the brain. Radiofrequency ablators, one of the most effective ache managing tool, destroys nerves by generating heat to block ache signals. Likewise, neuro-stimulator devices use mild current frequencies to block ache signals from passing through. These devices help treat different painful conditions like musculoskeletal injury, neuropathic ache and cancer.
The key players in the industry are focused on bringing new innovative products for disease-specific pain control. For instance, Omron Healthcare, a Japanese healthcare company, launched an over the counter product HEAT Pain Pro TENS Device in 2023 for acute muscle and joint ache. Other players in the industry include Haylard Health, Inc, Jude Medical, Inc, Boston Scientific Corporation, Diros Technology, Inc.
Request a Sample@ https://www.qyresearchmedical.com/sample/119231
The market is dominated by North America owing to the growing number of pain-affiliated people requiring devices for pain control. Due to the presence of organized healthcare facilities and increased use of advanced equipment, the region is expected to remain dominant during the forecast period. Developing economies such as China are also expected to grow significantly in the next couple of years in regards of the addressable opportunity for aspirant companies.
The pain management device market is characterized by constant technological advancements, where the key market players are engaged in providing cheaper, efficient, faster, accurate and user-friendly experience. The leading, as well as emerging companies, are engaged in organic as well as inorganic growth strategies that includes agreements, partnerships, collaborations, mergers, acquisitions, expansions and joint ventures.
Key Coverage of the Report
- Region and country-wise assessment from the period 2023-2032. For the study, 2023-2032 has been utilized as historical data, 2023 as the base year, and 2023-2032, has been derived as forecasts
- Regional Competitors product pipeline analysis
- Demand and Supply GAP Analysis
- Market share analysis of the key industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
Salient Trends of the Pain Management Device Market
- Neurostimulation is a reversible therapy prescribed for carefully selected patients, which can lead to a substantial reduction in neuropathic pain, increased activity levels, fewer hospitalizations, reduced narcotic use, and a reduction in overall healthcare costs. Patients with pain in one location, like patients with chronic inflammation, are ideal candidates for neurostimulation.
- Nevro, a Silicon Valley-based company, received FDA approval in November 2023, for its chronic pain treatment system for spinal cord neurostimulation called Senza Omnia. At frequencies below 1.5 kHz, the system can provide conventional stimulation of the spinal cord. It is a rechargeable system and can be used for at least ten years, regardless of the stimulation scheme that ends up working best for the patient. The machine is also MRI-conditional, where patients can safely receive MRI scans provided certain precautions are taken.
- A flexible injectable electrode has been developed by researchers at the University of Wisconsin-Madison that can assist in neuromodulation therapy. Using a simple transcutaneous electrical nerve stimulation unit (TENS), the nerve can then be electrically stimulated from the skin surface. The method could pave the way for a wide range of diseases for successful neuromodulation therapy.
- In August 2023, FDA approval for SPRINT endura and comprehensive peripheral percutaneous electrical nerve stimulators (PENS) were landed by SPR Therapeutics, a Cleveland, Ohio company. The extensa is dual lead and endura is a single-lead device. The two products are the only dual-leaded FDA-compatible percutaneous electrical nerve stimulators that can be used in either of them for up to two months for chronic and acute pain.
- The company believes that its innovation can give an alternative to the habit-forming analgesics such as opioids by providing an affordable option to use the SPRINT PNS in many cases before the patient is hooked on drugs.
- Researchers at Duke University have found that electrical nerve stimulation can be helpful in controlling the cognitive decline and delirium caused by inflammation following complicated surgery that tend to result from inflammatory brain changes.
- In 2023, Health Canada approved a new solution: the Bioness StimRouter, a peripheral nerve stimulator. It is a minimally invasive tool for neuromodulation consisting of an implanted thread, an external pulse generator, and a handheld wireless programmer.
Companies considered and profiled in this market study
St. Jude Medical, Inc. (subsidiary of Abbott), Medtronic, Boston Scientific Corporation, Hospira, Inc. (subsidiary of Pfizer Inc.), B. Braun Melsungen AG, Smiths Medical, Halyard Health, Inc., Nevro Corp., and Bio-Medical Research Ltd.
- The Analgesics Infusion Pumps products segment is expected to reach USD 1.65 billion by the year 2032, showing significant growth during the forecast period.
- In 2023, Cancer segment was valued at USD 288.1 million and is expected to grow at a high rate of 9.2%.
- The Neurostimulation product type segment is expected to grow with a CAGR of 6.9% during the forecast period.
- The Ablation Devices segment is expected to register a high growth during 2023-2032. However, Electrical Stimulators product type segment of Pain Management Device holds the largest share in the global market.
- Asia-Pacific regional segment of the pain management device market is expected to remain highest growing segment during 2023-2032, and is expected to register a CAGR of 7.8%; owing to increased technological innovations and funding provided by the government and private organizations. Also, increased investment by the healthcare device and pharmaceutical companies is expected to increase the industry demand.
- The North American regional segment held the largest share of 43.2% in the year 2023. Its dominance can be attributed to the increase in investments in R&D activities due to the high prevalence of cancer and other disease leading to pain. Also, the development in advanced pain management solutions and the presence of major players in the region further drive the market growth.
Segments covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2023 to 2032. For the purpose of this study, Reports and Data have segmented the Pain Management Device market on the basis of products, application, end user and region:
Product Outlook (Revenue in Million USD; 2023–2032)
- Electrical Stimulators
- Transcutaneous Electrical Nerve Stimulators (TENS)
- Trigeminal Nerve Stimulation (TNS)
- Transcranial Magnetic Stimulation
- Combination Devices
- Ablation Devices
- Cryoablation Devices
- Radiofrequency Ablation Devices
- Epicardial Ablation
- Analgesics Infusion Pumps
- Intrathecal Infusion Pumps
- External Infusion Pumps
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Neurostimulators
Application Outlook (Revenue in Million USD; 2023–2032)
- Neuropathic Pain
- Facial & Migraine
- Musculoskeletal Disorders
End User Outlook (Revenue in Million USD; 2023–2032)
- Physiotherapy Centers
- Hospitals and Clinics
- Ambulatory Surgical Centers
Mode of Purchase Outlook (Revenue in Million USD; 2023–2032)
- Over-the-counter Devices
- Prescription-based Devices
Regional Outlook (Revenue in Million USD; 2023–2032)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119231/1500
You can place an order or ask any questions, please feel free to contact email@example.com | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us: