Pain Management Devices Market Size Report, 2026

Healthcare News

Oct 13, 2022 • 3 min read

Pain management devices are used to manage chronic and acute pain in patients suffering from various types of disease conditions, such as cancer, neurological disorders, and musculoskeletal disorders, among others. These devices restore the ability to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions. The study involved four major activities in estimating the current size of the Pain Management Devices Market. Exhaustive secondary research was done to collect information on the market and its different subsegments.

According to research report the global pain management devices market size is projected to reach USD 3.3 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 8.6%

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The major factors driving the growth of this market include expanding patient population, growing demand for long-term pain management among the geriatric population, and increasing preference for pain management devices owing to the adverse effects of pain medications on patients. Furthermore, factors such as high proven efficacy of pain management devices for the treatment of chronic pain, development of novel pain management devices, and established reimbursement scenario for SCS devices in developed countries are also fueling market growth. The pain management devices market witnessed a loss of business, and the trend continued till late December 2020. Unfavorable changes in regulations and guidelines are hampering the growth of this industry. Major regulatory authorities across the globe (such as CDC, WHO, MHRA, TGA, and EMA) have identified that cancer patients are at greater risk of COVID-19 infection than healthy adults. Thus, screening, diagnostic exams, and surgical procedures are severely restricted or postponed at hospitals and cancer care centers. This is expected to cause disruptions in the pain management devices market.

Based on type, the pain management devices market share is segmented into neurostimulation devices, infusion pumps, and ablation devices. In 2020, the neurostimulation segment accounted for 58.0% of the pain management devices market. This segment is projected to reach USD 1,910.7 million by 2026 from USD 1,247.7 million in 2021, at a CAGR of 8.6%.

Based on application, the pain management devices market is segmented into neuropathic pain, musculoskeletal pain, cancer pain, facial pain migraine, and other applications. The neuropathic pain segment accounted for the largest market share of 31.4% in 2020. The presence of substantial clinical evidences in the favor of high efficacy of pain management devices in neuropathic pain treatment, development of novel neuropathic pain management devices, rising aging population across the globe, side effects of drugs used to treat neuropathic pain, and availability of reimbursement are fueling the adoption of pain management devices for neuropathic pain treatment are the major factors contributing to the growth of the pain management devices market for neuropathic pain applications.

High Growth Opportunities in Emerging Markets:

Emerging economies such as China, India, and Brazil offer significant growth opportunities for players in the pain management devices market. This can primarily be attributed to the diversified healthcare markets in this region, the growing incidence of chronic disorders, and increasing RD initiatives to develop innovative medical technologies. In addition, infrastructural developments in healthcare facilities, increasing healthcare expenditures, and the low-cost manufacturing advantage offered by emerging countries in the Asia Pacific are expected to encourage market players to invest in this region in the coming years.

North America to Dominate the Pain Management Devices Market:

North America dominated the pain management devices industry, with a share of 52.3% in 2020, followed by Europe and Asia Pacific. North America is expected to grow at a 7.3% CAGR during the forecast period. North America has been among the frontrunners in developing pain management devices services in the healthcare industry. The market in the US is expected to offer growth opportunities in the coming years owing to the increasing incorporation of pain management devices in the ambulatory care centers. Many major global players are also based in the US, owing to which the country has become a center of innovation in the market.

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The key players in pain management devices market have a strong foothold in the market and offer a wide range of products. Medtronic PLC (Ireland), Boston Scientific (US), Abbott (US), Becton, Dickinson and Company (US), Baxter International (US), B. Braun Melsungen AG (Germany), Stryker (US), Smiths Medical (US), Moog Inc. (US), Avanos Medical, Inc. (US), Nipro Corporation (Japan), Atricure (US), Nevro Corp. (US), Micrel Medical Devices SA (Greece), InfuTronix Solutions LLC (US), Teleflex, Inc. (US), Mindray Medical International Limited (China), Shenzhen MedRena Biotech Co., Ltd. (China), Epic Medical (Singapore), Bioness (US), Microtransponder (US), Neuronano (Sweden), Gimer Medical (Taiwan), Bluewind Medical (Israel), Soterix Medical Inc. (US) and other players.

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