PUBLISHER: The Business Research Company | PRODUCT CODE: 1426233
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426233
Pain management devices and therapies are utilized to alleviate chronic and critical pain in patients with various conditions, including cancer and neurological disorders. These treatments often involve spinal cord stimulation, sacral nerve stimulators, and deep brain stimulation.
The primary categories within the pain management devices and therapies market comprise electrical stimulators, ablation devices, neurostimulators, and analgesic pumps. Electrical stimulation devices encompass various types such as transcutaneous electrical nerve stimulation (TENS), neuromuscular electrical stimulation (NMES/EMS), combination devices, electrotherapy devices, and TNS. Ablation devices include radiofrequency and cryoablation devices. Neurostimulation devices cover spinal cord stimulation (SCS), deep brain stimulation, vagus nerve stimulation, and sacral nerve stimulation devices. Analgesic infusion pumps in this market include intrathecal and external infusion pumps used for neuropathic pain, cancer pain, facial & migraine pain, musculoskeletal pain, and trauma applications.
The pain management devices and therapies market research report is one of a series of new reports from The Business Research Company that provides pain management devices and therapies market statistics, including pain management devices and therapies industry global market size, regional shares, competitors with a pain management devices and therapies market share, detailed pain management devices and therapies market segments, market trends and opportunities, and any further data you may need to thrive in the pain management devices and therapies industry. This pain management devices and therapies market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The pain management devices and therapies market size has grown rapidly in recent years. It will grow from $4.38 billion in 2023 to $4.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth observed in the historical period can be attributed to several factors, including a rising prevalence of chronic pain conditions, an increased demand for minimally invasive pain management procedures, a growing need for personalized pain management approaches, the expansion of the geriatric population, and heightened awareness regarding various pain management options available.
The pain management devices and therapies market size is expected to see rapidly grown in the next few years. It will grow to $6.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. Anticipated growth in the forecast period can be linked to several key factors, including the increasing use of non-opioid alternatives, the integration of remote and digital health solutions, the escalating opioid epidemic prompting a search for alternative treatments, the rising popularity of integrative pain management approaches, and the shift towards value-based care models. Major trends expected during this period encompass advancements in pain management technology, the development of neuromodulation devices, the emergence of digital therapeutics, the adoption of wearable pain management devices, and the utilization of regenerative therapies.
The escalating demand for pain management devices and therapies is being driven by the surge in chronic diseases, notably cancer, heart conditions, and strokes. These ailments often induce severe and persistent pain, necessitating a higher need for pain alleviation drugs and treatments. According to the Brazilian Journal of Nephrology, roughly 60% of chronic kidney disease patients required pain management medications due to varying levels of pain. Similarly, reports from the US National Library of Medicine indicate that approximately 45% of Americans grappled with at least one chronic disease, contributing significantly to the rise in demand for pain management solutions. This upsurge in chronic ailments is a primary factor propelling the pain management devices and therapies market.
An anticipated rise in the number of surgical procedures is poised to further fuel the growth of the pain management devices and therapies market. Surgical interventions, encompassing a spectrum of medical treatments, necessitate effective pain management solutions for pre-operative, intra-operative, and post-operative care. The utilization of pain management devices in these procedures is crucial for administering localized anesthesia, managing pain during and after surgery, expediting recovery, and mitigating risks and side effects. For example, in June 2022, data from the American Society for Metabolic and Bariatric Surgery illustrates a notable increase in surgeries performed from the previous year, underscoring the escalating demand for pain management devices in surgical settings.
Companies within the pain management devices and therapies sector are prioritizing technological advancements to address chronic and acute pain without resorting to opioid-based medications. Innovative wearable devices are being developed, employing neural pulse technology that triggers the body's natural pain-blocking mechanisms. These devices function by stimulating the nervous system electrically, enhancing the body's resilience to pain. Several companies like NeuroMetrix, Sana, and Oska wellness have introduced diverse wearable devices, including masks, knee bands, and wrist bands, all of which have received FDA approval as over-the-counter products, available without prescriptions.
Major players in the pain management devices and therapies market are concentrating on pioneering products like the NorthStar facet fusion system to drive revenue growth. This system is specifically designed to offer stability and support to targeted facet joints, alleviating pain and associated symptoms linked to spinal disorders. Notably, in March 2022, Seaspine Holdings Corporation, a prominent spine and orthopedics company, launched the NorthStar facet fusion, combining Osteostrand DBM fiber cervical pellets with disposable facet preparation tools, intended for use with their NorthStar OCT posterior cervical fixation system.
The USFDA has defined Pain Management Devices within section 882 of the medical devices market under Title 21, Code of Federal Regulations. Manufacturers in this space are mandated by the FDA to register and list their devices while adhering to stringent control requirements encompassing labeling, packaging, performance standards, and pre-market approvals. Manufacturers seeking premarket approval from the FDA must submit applications demonstrating the device's safety and effectiveness. Alternatively, a manufacturer can submit a 510(k)-notification, proving substantial equivalence to a predicate device already in the market, exempting the need for a PMA.
Major companies operating in the pain management devices and therapies market include Abbott Laboratories, AstraZeneca PLC, Pfizer Inc., Boston Scientific Corporation, GlaxoSmithKline PLC, Teva Pharmaceutical Industries Ltd., Medtronic PLC, Novartis AG, Baxter International Inc., Johnson & Johnson, Eli Lilly & Company, Endo Health Solutions Inc., Smiths Medical Inc., Becton Dickinson and Company, AbbVie Inc., Astellas Pharma Inc., Bayer AG, DJO Global Inc., Halyard Health Inc., B. Braun Melsungen AG, Neurotech Na, Nevro Corp, Sanofi SA, Purdue Pharma LP, Zogenix Inc., Bausch Health Companies Inc., NeuroMetrix Inc., Medovex Corporation, Halyard Health Inc., Flowonix Medical Inc., Pain Management Technologies Inc.
North America was the largest region in the pain management devices and therapies market in 2023. Western Europe was the second-largest region in the pain management devices and therapies market report. The regions covered in the pain management devices and therapies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the pain management devices and therapies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The pain management devices and therapies market consist of sales of physical therapy, massage, acupuncture, osteopathic manipulative treatment (OMT) and chiropractic adjustments. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pain Management Devices And Therapies Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pain management devices and therapies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pain management devices and therapies? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The pain management devices and therapies market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.