Pain Management Devices Industry Overview
The global pain management devices market size was valued at USD 6.40 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. The increasing prevalence of chronic diseases is one of the key factors expected to contribute to the market growth over the forecast period. The growing prevalence of lifestyle disorders, such as obesity and diabetes, has increased the demand for muscle and nerve stimulators. The growing prevalence of trauma or hypertension is another major factor likely to drive the market growth. Hypertension significantly increases the risk of a brain aneurysm and other chronic diseases. According to the WHO, Canada recorded the highest hypertension treatment rate of 76% in men and 71% in women in 2019.
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.
Gather more insights about the market drivers, restraints, and growth of the Global Pain Management Devices market
Moreover, cases of musculoskeletal disorders, such as arthritis, osteoarthritis, orthopedic degenerative disorders, and rheumatoid arthritis, are increasing at a significant rate. This has augmented the prevalence of chronic pain in these individuals and the inability to carry out routine tasks. For instance, according to the CDC, over 24.5% of adults in the U.S. were suffering from arthritis in 2020, making this the primary reason for work disability. This has fueled the demand for pain management stimulators to manage chronic pain. Apart from this, in the year 2020, approximately 32.5 million people in the U.S. suffered from osteoarthritis.
The ineffectiveness of oral drugs is boosting patients to look for alternative treatment options, such as pain management devices. Several people are addicted to pain killers, however, these medicines are sometimes ineffective and cause various adverse effects. Moreover, the lack of preference for surgeries is one of the factors boosting the demand. According to the 2021 report by the CDC, there were around 1,57,500 surgical site infections reported every year in the U.S. The high hospitalization costs have increased the need for a reduced hospital stay and the need to shift to less expensive care settings, thus boosting demand.
For instance, the average hospital stay cost accounted for around USD 15,734 in 2018. Moreover, technological advancements are anticipated to drive the market further. For instance, in September 2020, Boston Scientific launched WaveWriter Alpha Spinal Cord Stimulator Systems for personalized pain relief, in Europe. This would significantly expand the company’s portfolio. In February 2022, Boston Scientific Corp. closed the acquisition of Baylis Medical Company, Inc.
This acquisition expanded Boston Scientific’s structural heart and electrophysiology product portfolios and included the radiofrequency NRG and VersaCross Transseptal Platforms and dilators used to support left heart access. Moreover, an increase in the number of bone-related disorders, accident cases, obesity, and the convenience of advanced designs are also expected to boost the market growth. Obesity is also the main cause of arthritis. According to studies published in the BMJ Journal in 2020, being overweight or obese increased the risk of knee OA by 2.5 to 4.6 times compared to being of normal weight.
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Pain Management Devices Market Segmentation
Grand View Research has segmented the global pain management devices market on the basis of product, application, and region:
Pain Management Devices Product Outlook (Revenue, USD Million, 2017 - 2030)
- Electrical Stimulators
- Radiofrequency Ablation (RFA)
- Analgesic Infusion Pumps
- Neurostimulation
Pain Management Devices Application Outlook (Revenue, USD Million, 2017 - 2030)
- Cancer
- Neuropathic Pain
- Facial & Migraine
- Musculoskeletal Disorder
- Trauma
- Others
Pain Management Devices Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
October 2020: Smiths Medical launched the CADD Solis ambulatory infusion pump’s new version 4.2. This wireless bi-directional communication pump would help integrate pain management data with EMR records of the patient.
August 2020: Medtronic announced the commercial launch of its FDA-approved neurostimulator, called the InterStim Micro Neurostimulator.
Key Companies profiled:
Some of the prominent key players in the global pain management devices market include:
- B Braun Melsungen AG
- Baxter
- Boston Scientific Corp.
- Nevro Corp.
- Enovis
- OMRON Healthcare, Inc.
- Medtronic
- ICU Medical, Inc.
- Abbott
- Stryker
- Stimwave LLC
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