Pain Management Devices Market Analysis And Forecast To 2031: By Type (Electrical Stimulators, Radiofrequency Ablation (RFA), Analgesic Infusion Pumps, Neurostimulation), Length (Cancer, Neuropathic Pain, Facial & Migraine, Musculoskeletal Disorder, Trauma), And Region
The global pain management devices market was valued at USD 2.2 billion in 2021 and it is anticipated to grow up to USD 8.0 billion by 2031, at a CAGR of 13.8% during the forecast period.
Pain management devices are medical devices 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.
Market Trends and Drivers
Growing number of surgical procedures performed will propel the market growth. Over the years, there has been a significant rise in the number of surgical procedures performed across the globe. This can be attributed to the rising geriatric population and the growing prevalence of obesity and other lifestyle diseases. Obesity is one of the key causes of cardiovascular and orthopedic diseases. Analgesia/pain management is the key application area of infusion pumps. Infusion pumps are also widely used for the local administration of narcotic analgesics and anesthetics following bariatric surgery, cardiothoracic surgery, and laparoscopic cholecystectomy. PCA pumps are used to manage post-operative pain in various orthopedic surgeries such as spine surgeries and in major joint and foot/lower extremity surgical procedures. According to the National Spinal Cord Injury Statistical Center (NSCISC) 2016 datasheet, the annual incidence of spinal cord injuries (SCI) is approximately 54 cases per million population in the US or approximately 17,000 new SCI cases each year. According to the NCBI, more than 51 million inpatient surgical procedures are performed annually in the US alone, and approximately 90% of all hospitalized patients receive medications through IV. With an increase in the number of surgeries performed, the demand for infusion therapy is expected to increase.
Market Restraints and Challenges
Use of pain medications as the first line of treatment for pain management may hamper the industry progression. Medication is often the first therapy that doctors use to manage chronic pain. Pain specialists prefer to prescribe medications over devices to patients suffering from pain majorly due to their easy availably, presence of substantial clinical evidence, and lower cost. Usually, physicians opt for pain management devices such as TENS or SCS only if medication and other alternative treatments do not work.
Global Pain Management Devices Market Segmental Overview
The report analyses the global pain management devices market based on product, application and region.
Global Pain Management Devices Market by Product
Based on product, it is segmented into electrical stimulators, radiofrequency ablation (RFA), analgesic infusion pumps and neurostimulation. Among these, the neurostimulation segment accounted for significant market share in 2021. The growth can be attributed to the increase in the prevalence of neurological disorders. These neurostimulators play a crucial role in treating chronic pain, Parkinson’s disease, epilepsy, movement disorders, and depression. In addition, certain factors like the introduction of technologically advanced products, rising product demand, and the growing geriatric population are anticipated to drive the market. For example, according to the U.K. government, the number of people within the age group of 60-64 years increased from 3,673 thousand in 2018 to 3,974 thousand in 2021. Similarly, the population within the age group of 70-74 years increased from 3,252 in 2018 to 3,390 in 2021. Thus, the increasing geriatric population is likely to fuel the market growth this demographic is at a greater risk of chronic illness.
Global Pain Management Devices Market by Application
Based on application, it is segmented into cancer, neuropathic pain, facial & migraine, musculoskeletal disorder, trauma and others. Among them, the neuropathic pain segment is expected to experience the fastest growth rate during the forecast period. The growth can be attributed to the growing prevalence of the target population and increasing initiatives by the industry players. According to the U.S. Centers for Disease Control and Prevention, in 2019, 65% of Americans aged 65 years or above suffered from chronic pain. In addition, neuropathic pain affects 3% to 17% of adults. The aforementioned factors are expected to propel the segment growth.
Geographical Analysis of Global Pain Management Devices Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America held the largest share in the market. This is 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 the market growth. The regional market is also driven by the presence of well-established healthcare facilities, a growing aging population, and a high incidence of hypertension & stroke. With an increase in the elderly population, the market is expected to show a higher growth rate, as the aging population is at greater risk of chronic illness.
Major Players in the Global Pain Management Devices Market COVID-19 Impact
The COVID-19 outbreak caused due to SARS-CoV-2, already affected millions of people globally. The contagious coronavirus is also having an economic impact and implications on most sectors including the medical device industry. The nationwide lockdown has impacted patients who specifically relied on exercise programs or PT as a pain management regimen. Moreover, many elective procedures and in-person patient visits have been suspended or delayed, which is expected to increase the demand for pain treatment at home. In April 2020, Omron launched the new Focus TENS Therapy device for the knee to its existing lineup of drug-free pain management products. The rising cancer cases are expected to further boost the demand over the forecast period.
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