Product Code: 978-1-68038-799-5
Pain Management Devices Market Growth & Trends
The global pain management devices market size is expected to reach USD 14.14 billion by 2030, registering a CAGR of 9.5% over the forecast period, according to a new report by Grand View Research, Inc. The market is experiencing growth due to the rising prevalence of chronic diseases and the expanding elderly population worldwide. The preference for pain management devices as an alternative to surgical procedures and oral medications is also expected to drive market growth significantly. Technological advancements in the field, particularly in electrostimulation devices, incorporating Artificial Intelligence (AI), Microelectromechanical Systems (MEMS), and Machine Learning(ML) applications are contributing to the market growth.
Furthermore, there is a rising incidence of musculoskeletal disorders, including osteoarthritis, arthritis, rheumatoid arthritis, and degenerative orthopedic conditions. This rise in cases has led to an increased impact on individuals' ability to perform daily activities and a higher prevalence of chronic pain among this population. For instance, according to the Global RA Network, over 350 million individuals had arthritis worldwide in 2021. Furthermore, technological advancements are anticipated to drive further growth. For instance, in October 2022, Nevro Corp., a medical device organization, revealed that it had obtained permission from the FDA, a federal agency of the Department of Health and Human Services, for the Senza HFX iQ Spinal Cord Stimulation (SCS) system.
It is a system that utilizes Artificial Intelligence (AI) to maintain and optimize pain alleviation by utilizing each patient's response. This would significantly expand the company's portfolio. Moreover, the company started the U.S. full market launch of the SCS system in March 2023. Many elective surgeries were canceled or postponed during the COVID-19 pandemic to reduce the exposure of the patients as well as the healthcare providers, which is anticipated to augment the need for pain management devices. In July 2020, the U.S. Food and Drugs Authority permitted an Emergency Use Authorization (EUA) for the electroCore- a non-invasive vagus nerve stimulator to help COVID-19 patients at home with asthma-related problems.
Pain Management Devices Market Report Highlights
- In terms of revenue, the neurostimulation segment held the largest share of 57.7% in 2022 due to the rising prevalence of neurological illnesses
- The radiofrequency ablation segment is anticipated to exhibit the fastest growth over the forecast period due to the increasing prevalence of cardiovascular & chronic conditions and the rising shift toward minimally invasive surgeries
- The neuropathic pain segment held the largest revenue share of 31.9% in 2022 due to the high prevalence of neuropathic pain and the latest product launches by players in the industry
- The cancer segment is projected to showcase lucrative growth over the forecast period due to the growing usage of pain management devices to alleviate pain associated with cancer
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definition
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.1.1. Purchased database
- 1.3.1.2. GVR's internal database
- 1.3.2. Primary Research
- 1.4. Research Scope and Assumptions
- 1.5. List to Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
- 2.4. Pain Management Devices Market Summary,2022
Chapter 3. Pain Management Devices Market Variables, Trends, & Scope
- 3.1. Penetration and Growth Prospect Mapping
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Pain Management Devices Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic and Social landscape
- 3.3.2.3. Technological landscape
- 3.3.3. Major Deals & Strategic Alliances Analysis
Chapter 4. Pain Management Devices Market: Product Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.2. Pain Management Devices Market: Product Movement Analysis, USD Million, 2022 & 2030
- 4.3. Electrical Stimulators
- 4.3.1. Electrical stimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3.1.1. Tens electrical stimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.3.1.2. Others electrical stimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.4. Radiofrequency Ablation
- 4.4.1. Radiofrequency ablation market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5. Analgesic Infusion Pump
- 4.5.1. Analgesic Infusion Pump market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5.1.1. Intrathecal Infusion Pumps market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.5.1.2. External Infusion Pumps market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6. Neurostimulators
- 4.6.1. Neurostimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6.1.1. Spinal Cord Stimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6.1.2. Deep Brain Stimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6.1.3. Sacral Neurostimulators market estimates and forecasts, 2018 - 2030 (USD Million)
- 4.6.1.4. Others market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Pain Management Devices Market: Applications Estimates & Trend Analysis
- 5.1. Definitions & Scope
- 5.2. Pain Management Devices Market: Applications Analysis, USD Million, 2022 & 2030
- 5.3. Cancer
- 5.3.1. Cancer market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.4. Neuropathic
- 5.4.1. Neuropathic market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.5. Facial & Migraine
- 5.5.1. Facial & Migraine market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.6. Musculoskeletal
- 5.6.1. Musculoskeletal market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.7. Trauma
- 5.7.1. Trauma market estimates and forecasts, 2018 - 2030 (USD Million)
- 5.8. Others
- 5.8.1. Others market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Pain Management Devices Market: Regional Estimates & Trend Analysis
- 6.1. Regional market share analysis, 2022 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Global Regional Market Snapshot
- 6.4. Regional Market Share and Leading Players, 2022
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East and Africa
- 6.5. SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
- 6.5.1. North America
- 6.5.2. Europe
- 6.5.3. Asia Pacific
- 6.5.4. Latin America
- 6.5.5. Middle East and Africa
- 6.6. Market Size, & Forecasts, Volume and Trend Analysis, 2022 to 2030
- 6.7. North America
- 6.7.1. North America Market estimates and forecast, 2018 - 2030 (Value & Volume)
- 6.7.2. U.S.
- 6.7.2.1. U.S. Market estimates and forecast, 2018 - 2030, By Product (USD Million)
- 6.7.2.2. U.S. Market estimates and forecast, 2018 - 2030, By Application (USD Million)
- 6.7.3. Canada
- 6.7.3.1. Canada Market estimates and forecast, 2018 - 2030, By Product (USD Million)
- 6.7.3.2. Canada Market estimates and forecast, 2018 - 2030, By Application (USD Million)
- 6.8. Europe
- 6.8.1. UK
- 6.8.1.1. UK Market estimates and forecast, 2018 - 2030 By Product (USD Million)
- 6.8.1.2. UK Market estimates and forecast, 2018 - 2030 By Application (USD Million)
- 6.8.2. Germany
- 6.8.2.1. Germany Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.8.2.2. Germany Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.8.3. France
- 6.8.3.1. France Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.8.3.2. France Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.8.4. Italy
- 6.8.4.1. Italy Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.8.4.2. Italy Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.8.5. Spain
- 6.8.5.1. Spain Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.8.5.2. Spain Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.8.6. The Netherlands
- 6.8.6.1. The Netherlands Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.8.6.2. The Netherlands Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.9. Asia Pacific
- 6.9.1. Japan
- 6.9.1.1. Japan Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.9.1.2. Japan Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.9.2. China
- 6.9.2.1. China Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.9.2.2. China Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.9.3. India
- 6.9.3.1. India Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.9.3.2. India Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.9.4. Australia
- 6.9.4.1. Australia Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.9.4.2. Australia Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.10. Latin America
- 6.10.1. Brazil
- 6.10.1.1. Brazil Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.10.1.2. Brazil Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.10.2. Mexico
- 6.10.2.1. Mexico Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.10.2.2. Mexico Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.10.3. Argentina
- 6.10.3.1. Argentina Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.10.3.2. Argentina Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.11. MEA
- 6.11.1. South Africa
- 6.11.1.1. South Africa Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.11.1.2. South Africa Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
- 6.11.2. Saudi Arabia
- 6.11.2.1. Saudi Arabia Market estimates & forecasts, by Product, 2018 - 2030 (USD Million)
- 6.11.2.2. Saudi Arabia Market estimates & forecasts, by Application, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company/Competition Categorization
- 7.3. Vendor Landscape
- 7.3.1. Key customers
- 7.3.2. Key company market share analysis, 2018
- 7.3.3. B Braun Melsungen AG
- 7.3.3.1. Company overview
- 7.3.3.2. Financial performance
- 7.3.3.3. Product benchmarking
- 7.3.3.4. Strategic initiatives
- 7.3.4. Baxter
- 7.3.4.1. Company overview
- 7.3.4.2. Financial performance
- 7.3.4.3. Product benchmarking
- 7.3.4.4. Strategic initiatives
- 7.3.5. Boston Scientific Corporation or its affiliates
- 7.3.5.1. Company overview
- 7.3.5.2. Financial performance
- 7.3.5.3. Product benchmarking
- 7.3.5.4. Strategic initiatives
- 7.3.6. Nevro Corp.
- 7.3.6.1. Company overview
- 7.3.6.2. Financial performance
- 7.3.6.3. Product benchmarking
- 7.3.6.4. Strategic initiatives
- 7.3.7. Enovis
- 7.3.7.1. Company overview
- 7.3.7.2. Financial performance
- 7.3.7.3. Product benchmarking
- 7.3.7.4. Strategic initiatives
- 7.3.8. OMRON Healthcare INC
- 7.3.8.1. Company overview
- 7.3.8.2. Financial performance
- 7.3.8.3. Product benchmarking
- 7.3.8.4. Strategic initiatives
- 7.3.9. Medtronic
- 7.3.9.1. Company overview
- 7.3.9.2. Financial performance
- 7.3.9.3. Product benchmarking
- 7.3.9.4. Strategic initiatives
- 7.3.10. ICU Medical Inc
- 7.3.10.1. Company overview
- 7.3.10.2. Financial performance
- 7.3.10.3. Product benchmarking
- 7.3.10.4. Strategic initiatives
- 7.3.11. Abott
- 7.3.11.1. Company overview
- 7.3.11.2. Financial performance
- 7.3.11.3. Product benchmarking
- 7.3.11.4. Strategic initiatives
- 7.3.12. Stryker
- 7.3.12.1. Company overview
- 7.3.12.2. Financial performance
- 7.3.12.3. Product benchmarking
- 7.3.12.4. Strategic initiatives
- 7.3.13. Stimwave LLC
- 7.3.13.1. Company overview
- 7.3.13.2. Financial performance
- 7.3.13.3. Product benchmarking
- 7.3.13.4. Strategic initiatives