Pain Management Devices Market Size 2024-2028

The pain management devices market size is forecast to increase by USD 3.11 billion, at a CAGR of 9.45% between 2023 and 2028.  The growth of the market for drug-free therapy relies on various factors, notably the rising incidence of chronic diseases among the geriatric population. With a shift towards non-pharmacological approaches, there's a surge in demand for alternative treatments. Moreover, the healthcare industry is witnessing numerous initiatives and advancements, fostering a conducive environment for market expansion. These developments underscore the importance of drug-free therapies in managing chronic conditions, offering effective solutions with minimal side effects. As the population ages and chronic diseases become more prevalent, the demand for such therapies is expected to rise, driving further growth in the market forecasting period.

What will be the Size of the Market During the Forecast Period?

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Market Dynamics and Customer Landscape 

The market experiences growth driven by various factors such as the increasing prevalence of chronic pain conditions like musculoskeletal pain and cancer pain, prompting a demand surge for innovative solutions. Technological advancements, particularly in neuromodulation and neurostimulation devices, offer promising alternatives for pain relief. However, challenges persist, including limited consumer awareness and the need for enhanced rehabilitation services. Moreover, catering to diverse patient demographics, such as elderly populations and those with cardiovascular disease poses unique challenges. Overcoming these hurdles while capitalizing on emerging trends remains crucial for the sustained growth of the market. 

Key Market Driver

The increasing prevalence of chronic diseases among the geriatric population is the key driver for the growth of the market share. The prevalence of chronic diseases is rising among the geriatric population due to declining mortality rates. The sedentary lifestyle and changing eating habits of people make them favorable for chronic diseases such as heart disease, stroke, cancer, arthritis, and chronic pain such as low back pain and knee pain.  According to the CDC and the National Center for Health Statistics (NCHS), most people with chronic pain have pain in different body parts.

In addition, the American Academy of Pain Medicine (AAPM), in the US, has seen the most common types of pain among adults are low back pain at 28.1%, knee pain at 19.5%, shoulder pain at 9.0%, finger pain at 7.6%, and hip pain at 7.1%. According to the Centers for disease control and Prevention (CDC), approximately 11% of the adult population of the US suffers from chronic pain. Pain management devices are used to treat chronic diseases. Therefore, the increasing prevalence of chronic diseases and the growth of the geriatric population will drive the growth of the market during the forecast period

Significant Market Trends

Technological advances in ablation devices is the primary trend in the market growth. The ablation method is used used to reduce certain kinds of chronic pain by preventing the transmission of pain signals. Technological advances in ablation have improved the outcomes of various procedures. With ablation devices, a portion of nerve tissue is removed or destroyed to cause an interruption in pain signals and reduce pain in that area. Vendors are increasing their focus on such advances to increase their market share.

Moreover, vendors are making significant investments in (R&D) to develop technologically advanced ablation devices. For example, Medtronic offers the Cool-tip radiofrequency (RF) ablation system E series, which has high energy and creates large ablation target zones in a short period of time. The high adoption of irrigated-tip ablation catheters has reduced the risk of complications and ensured the precise removal of arrhythmia-promoting heart cells. Therefore, the increasing adoption of such technologically advanced ablation devices for pain management will drive the growth of the market during the forecast period.

Major Market Challenge

The high cost of neurostimulation devices and procedures is the key challenge in the market. The high cost of neurostimulation devices limits their adoption in several developing countries such as India and China. The cost of deep brain stimulation (DBS) surgeries can range between USD 70,000 and USD 100,000 for bilateral procedures.  End-users also pay additional costs to maintain these devices, make post-operative device adjustments, and replace the batteries regularly. For example, the cost of battery replacement for DBS therapy can be USD 10,000- USD 20,000 during the first 36 months after implantation. In addition, vendors price their neurostimulation devices high owing to structural barriers to competition, such as the complex and expensive regulatory approval process and patent protection.

Furthermore, insurance coverage for novel neurostimulation therapies is limited. Medicare stopped covering TENS for lower back pain. Organizations such as the NHS believe that scientific proof to state that TENS is a reliable and effective method of pain relief is limited. Many private insurers also do not provide reimbursement coverage for neurostimulation devices owing to the lack of sufficient data on clinical effectiveness. Hence, the lack of insurance coverage restricts patient access to neurostimulation therapies, which is expected to hinder the growth of the market growth and trends during the forecast period.

Market Customer Landscape

The market growth analysis research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. The market report focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

customer Landscape

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Abbott Laboratories: The company offers pain management devices such as Proclaim SCS system.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• AtriCure Inc.
• Avanos Medical Inc.
• B.Braun SE
• Baxter International Inc.
• Becton Dickinson and Co.
• Boston Scientific Corp.
• DJO Global Inc.
• ICU Medical Inc.
• InfuTronix
• Johnson and Johnson Services Inc.
• Kimberly Clark Corp.
• Medtronic Plc
• Micrel Medical Devices SA
• Moog Inc.
• Nevro Corp.
• OMRON Corp.
• Pfizer Inc.
• Stryker Corp.
• Theragen Inc.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the Market?

By Application

The neuropathic pain segment is estimated to witness significant growth during the forecast period. The neuropathic pain segment accounts for the highest share in the market due to the increasing target population, technological advancements in pain management devices, and a surge in demand for pain management devices for treating neuropathic pain. Neuropathic pain is a complex, chronic pain condition that happens by tissue injury. The impact of nerve fiber injury creates a change in nerve function at the site of injury and areas surrounding the injury.

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The neuropathic pain segment was the largest segment and was valued at  USD 1.24 billion in 2018. In the US, according to the Centers for Disease Control and Prevention (CDC), 84.10 million people had prediabetes symptoms. In 2022, 50% of patients with diabetes had nerve pain problems. Hence, an increase in the prevalence of neuropathic pain will drive the growth of the neuropathic pain segment of the global neuropathy pain treatment market during the forecast period.

Key Regions

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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market trends and analysis, and drivers that shape the market during the forecast period. Owing to the growing prevalence of chronic diseases, such as diabetes, cancer, and arthritis, among others North America shows the largest share of the market in 2023. In addition, the increasing geriatric population, growing technological advances that enable the development of innovative devices, and rising healthcare expenditure drive the growth of the market in focus in this region. The rapid growth of the market in North America is due to the high prevalence of chronic disorders, the presence of favourable reimbursement policies, and the presence of established vendors. 

Moreover, the presence of prominent vendors in the market in North America is expected to propel the growth of the market in this region. Companies such as Becton, Dickinson, Chemyx Inc. (Chemyx), Flowonix Medical, and Baxter International are prominent players in the market, which have a major presence in North America. These companies are focusing on the development of advanced and innovative pain management devices which are majorly used in home-care settings as well as hospitals for pain management.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Application Outlook
  • Neuropathic pain
  • Musculoskeletal disorder
  • Cancer
  • Facial and migraine
  • Others

• Product Outlook 
  • Neurostimulation devices
  • Infusion pumps
  • Ablation devices

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Australia
    • Argentina
    • Rest of the world

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• Neurostimulation Devices Market Neurostimulation Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast
• Neuropathy Pain Treatment Market Neuropathy Pain Treatment Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, UK, China - Size and Forecast
• Interventional Spine Devices Market Interventional Spine Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, UK, Germany, China - Size and Forecast

Market Analyst Overview

The market addresses the growing challenge of lifestyle related diseases and neuropathic disorders, offering advanced solutions to alleviate suffering. With increasing healthcare awareness, patients seek relief from conditions such as skin hypersensitivity, hyperpigmentation, and chronic ailments. Innovative spinal cord stimulation devices and radiofrequency (RF) ablation devices target refractory pain, providing effective alternatives to pharmaceutical medications and injury prevention. These devices utilize electrical stimulation to target nerves and offer relief from conditions like cardiovascular disorders, atrial fibrillation, and rheumatoid arthritis. Deployed in hospitals and clinics, they cater to cancer patients, stroke patients, and those with orthopedic degenerative disorders, addressing a spectrum of facial and migraine pain.

Further, chronic pain patients rely on pain management devices to alleviate discomfort and enhance their quality of life. These devices cater to various types of pain, including acute pain, cancer pain, and musculoskeletal pain, offering targeted relief through innovative technologies. Analgesic infusion pumps and spinal cord stimulators are among the advanced devices used, providing effective pain control and improving patient outcomes. Increased consumer awareness drives demand, leading to greater adoption in physiotherapy centers, rehabilitation facilities, and hospitals. Neuromodulation and neurostimulation devices are pivotal for managing pain in conditions like cardiovascular disease, cancer, stroke, and among the elderly population suffering from osteoarthritis. These devices revolutionize pain management, offering hope and comfort to millions worldwide.

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What are the Key Data Covered in this Market Forecast Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Asia, Europe, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of market vendors

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