PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1702512
PUBLISHER: Market Xcel - Markets and Data | PRODUCT CODE: 1702512
Global pain management devices market is projected to witness a CAGR of 7.80% during the forecast period 2025-2032, growing from USD 4.84 billion in 2024 to USD 8.82 billion in 2032. The market's growth and expansion can be attributed to the increasing cases of chronic conditions including cancer, arthritis, and neuropathy. As per the estimates of the American Cancer Society, 2,041,910 new cases of cancer are expected to occur in the United States in 2025. The rapid growth of the aging population is further bolstering the demand for pain management devices as the older population is more prone to chronic pain causing conditions and susceptible to various diseases and disorders. Additionally, increasing awareness about the side effects of using pharmaceutical pain management solutions for long periods of time is also driving patients and healthcare providers to adopt device-based pain management solutions.
Additionally, increasing collaborations and rising efforts towards product development are driving the growth of the global pain management devices market. Medical device companies are joining forces with research institutions to incorporate elements like artificial intelligence (AI), real-time monitoring, and cloud-based systems into pain management solutions. These innovations allow patients and physicians to assess pain therapy outcomes more efficiently. Additionally, partnerships among medical device manufacturers and academic research institutes are also encouraging clinical trials to establish the safety and efficacy of the pain management systems in the patient population. Such an approach is facilitating regulatory approvals across different regions across the globe.
Increasing Prevalence of Chronic Pain Disorders Boosts Market Demand
The growing prevalence of chronic pain disorders such as neuropathic pain, cancer pain, musculoskeletal pain, migraine, facial and dental pain, among others is propelling the reliance on pain management devices. As per the estimates of the American Migraine Foundation, more than one billion people across the globe are living with migraine. The complex neurological disorder is genetically influenced and is usually characterized by severe to moderate headaches accompanied by extreme sensitivity to sound and light and nausea.
Non-opioid based pain relief options are being heavily prioritized by healthcare professionals as part of a global initiative to combat the opioid crisis. Meanwhile, devices, including transcutaneous electrical nerve stimulation (TENS) devices and spinal cord stimulators are gaining popularity due to their long-term efficacy and non-addictive nature. Furthermore, wearable pain relief technologies also allow patients to manage pain from the comfort of their homes, increasing their convenience and thus improving compliance and enhancing patient outcomes.
Technological Innovations Support Market Expansion
Increasing emphasis on development of technologically advanced devices is providing lucrative growth opportunities for the market as they aid in expanding the applicability of pain management to a wider population base, improving the quality of life for the patient population and supporting the growth of the market. Meanwhile, connectivity features along with smart technologies are enabling remote monitoring, data sharing between patients and healthcare professionals, improving treatment outcomes and patient satisfaction, and providing personalized treatment options. Thus, leading medical device companies are focusing on developing new products and technologies.
For instance, in September 2024, Nevro Corporation announced a limited market launch of its HFX iQ with HFX AdaptivAI after receiving approval from the United States Food and Drug Administration (US FDA). HFX AdaptivAI is designed for providing responsive and personalized pain relief. The system's advanced technology uses direct patient input for creating real-time custom therapy programs.
Neuropathic Pain Accounts for Significant Share of the Market
The segment's growth is supported by the rising prevalence of the condition in different regions across the globe, rising focus of medical devices and pharmaceutical companies to provide pain management solutions for such patients, and growing prevalence of lifestyle related disorders. As per the estimates of the British Pain Society, chronic pain affects 30% of the population in Northern Ireland and 13% of the population in the Republic of Ireland.
Meanwhile, cancer pain is expected to witness significant growth in the coming years. The rising cases of cancer in various countries is propelling the requirement for effective pain management solutions for pain caused due to nerve compression, among others. Thus, providing lucrative growth opportunities for the market.
North America Region Holds Major Market Share
The market's dominance in the region can be attributed to the expansion of the geriatric population, high prevalence of chronic and neuropathic diseases, presence of a strong healthcare system and pharma sector, and growing preference for non-opioid based pain management solutions. As per the estimates of the American Migraine Foundation, approximately 39 million people in America suffer from migraine. Additionally, the favorable reimbursement policies in various countries in North America enhance access to pain management devices.
Meanwhile, the market in the Asia-Pacific is expected to witness significant growth over the forecast period due to rapid aging in the region, growing awareness about various neuropathic diseases and the available treatment options, and the increasing investments in healthcare infrastructure.
Future Market Scenario (2025 - 2032F)
The market is expected to witness significant growth in the coming years due to rising preference for home healthcare settings, increasing demand for non-pharmacological solutions for pain management, and rapid integration of digital tools with pain management devices. Additionally, ongoing advancements in medical technologies, including miniaturization and wireless integration, are also creating a promising landscape for the market's future. Meanwhile, the increasing prevalence of various chronic diseases and disorders is also expected to provide lucrative growth opportunities for the market. The American Cancer Society estimates that the number of cases of cancer across the globe will reach 35 million by 2050.
Moreover, different governments and regulatory bodies are showing strong interest in expanding access to safer pain treatments, opening up new funding channels for pain management device manufacturers and approval pathways for novel technologies.
Key Players Landscape and Outlook
The key players of the market are actively working on introducing new products and technologies as well as focusing on receiving approvals from different regulatory bodies in order to ensure that their products are easily available for the patient population. For instance, in April 2024, Medtronic plc received approval from the US FDA for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS) for treating chronic pain. The product is Medtronic's first SCS device that offers a closed-loop feature that automatically adjusts stimulation in real time and senses biological signals along the spinal cord, ensuring that therapy is in harmony with the activities of daily life, improving patient convenience and treatment compliance. Thus, such product launches are allowing the key players of the market to expand their market presence and increase their revenues.
All segments will be provided for all regions and countries covered
Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work.