Pain Management Devices Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030

Global Pain Management Devices Market to Grow At A CAGR of 9.8%

Pain management is a branch of medical science that eases the suffering of the patients who have chronic pain. Acute pain has sudden onset of action whereas chronic pain usually lingers for a longer duration which causes unpleasant aggravation in patients which leads to need for its management. Various devices are used to manage chronic pain like Electrostimulation devices, Radiofrequency ablation devices, Infusion pumps and Neurostimulation devices. These devices block the pain gate mechanism to block the passage of pain signals to the brain. Radiofrequency ablators destroy nerves by generating heat to block the pain signals. Neurostimulation devices employs milder frequencies of current to block passage of pain signals. Infusion pumps deliver medication in controlled and sustained manner to alleviate pain. These devices are used to treat chronic pain in patients suffering from ailments like Neuropathic pain, Cancer pain, Facial and Migraine pain, Musculoskeletal pain and others. The factors that will facilitate the pain management devices market penetration are growing prevalence of chronic pain, increase in geriatric population, rise in demand for the devices to manage chronic pain and favorable reimbursement policies and government initiatives. The restraints would be skin hypersensitivity reactions, post-operative infection and devices are usually used as second line of treatment in patients with chronic pain who become resistant to drug therapy.

The global pain management devices market is represented by product types namely, Electrostimulation devices, Radiofrequency ablation devices, Neurostimulation devices and Infusion pumps, with Neurostimulation devices holding the largest share. In application type, the global pain management devices market is segmented into Neuropathic pain, Cancer pain, Facial and Migraine pain, Musculoskeletal pain and others. Neuropathic pain holding the largest segment. The geographical segmentation of global pain management devices market comprises North America, Europe, Asia-Pacific, Latin America and Middle East & Africa further segmented into key countries with highest potential in pain management devices market.

Neurostimulation Devices had the largest revenue share amongst all devices

Among the mentioned device types, neurostimulation devices had the largest revenue share in 2020, due to wide usage of neurostimulation devices for chronic pain management and higher preference for these devices due to their advanced technologies and efficiency in providing pain relief for long durations. On the other hand, radiofrequency ablation devices segment will register the fastest growth rate in the overall pain management devices market. Additionally, radiofrequency ablation also offers efficient relief from cancer pain thus facilitating the growth of this segment in cancer pain management.

Neuropathic pain is a significant application for pain management devices

Neuropathic pain, cancer pain, facial & migraine, musculoskeletal pain and others cumulatively make the major application areas for pain management devices. Neuropathic pain is a significant application for pain management devices, treatments such as spinal cord stimulation and deep nerve stimulation play a vital role in treating several neurological conditions. Customization of stimulation levels, respective to the severity of the conditions and long term treatment efficacy significantly contribute to the growth of this segment. Radiofrequency ablation devices have proven efficiency in treating cancer pain through effectively terminating cancer cells by this means reducing cancer pain.

The fastest growing markets are in Asia-Pacific and Latin America

Following the trends of the global medical devices market, North America is the largest market for pain management devices followed by Europe. High prevalence of lifestyle diseases, cancer, osteoarthritis and the huge pool of high-risk geriatric population play a significant role in the dominance of North America and Europe pain management devices market. In addition, favorable reimbursement system and better awareness among patients and care-givers also assist in contributing to the demand for pain management devices in the regions. Asia-Pacific and Latin America with the rapid development of healthcare infrastructure will become the fastest growing markets for pain management devices during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pain Management Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Pain Management Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Products

• Electrostimulation Devices
• Transcutaneous Electrical Nerve Stimulation (TENS)
• Neuromuscular Electrical Stimulation (NMES)
• Others
• Radiofrequency Ablation Devices
• Infusion Pumps (Analgesic)
• Intrathecal Analgesic Pumps
• External Analgesic Pumps
• Neurostimulation Devices
• Deep Nerve Stimulation Devices
• Sacral Nerve Stimulation
• Vagus Nerve Stimulation
• Spinal Cord Stimulation

Applications

• Neuropathic Pain
• Cancer Pain
• Facial & Migraine Pain
• Musculoskeletal Pain
• Others

Key Questions Answered in this Report

• What are the key micro and macro environmental factors that are impacting the growth of Pain Management Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Pain Management Devices market?
• Which is the largest regional market for Pain Management Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Pain Management Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Pain Management Devices market worldwide?

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