Global Pain Management Devices Market (2021 to 2026) - Use of Pain Medications as the First Line of Treatment for Pain Management Presents Opportunities

DUBLIN, Nov. 22, 2021 /PRNewswire/ -- The "Global Pain Management Devices Market by Type (Neurostimulation, SCS, TENS, RF Ablation, Infusion Pumps), Application (Neuropathy, Cancer, Facial, MSK, Migraine), Mode of Purchase (OTC, Prescription-based) & Region (NA, Europe, APAC) - Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.

The global pain management devices market is projected to reach USD 3.3 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 8.6% during the forecast period.

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. However, product recalls and high procedural costs likely to challenge market growth in the coming years.

Neurostimulation devices to hold the largest segment of the market

Based on type, the pain management devices market 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. Neurostimulation devices provide pain relief by disrupting pain signals traveling between the spinal cord and the brain. These devices can be either implantable or non-implantable in nature. Neuromodulation devices are further classified into transcutaneous electrical nerve stimulators (TENS) and spinal cord stimulators. The large share and high growth of this segment is attributed to advantages of neuromodulation as compared to alternative therapies for managing chronic pain, its long-term cost effectivity and technological developments in the neurostimulation devices segment.

Neuropathic pain to hold the largest share of the applications market

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 (geriatric population is at high risk of neuropathic pain due to the increased incidence of neuropathic pain associated with many age-related diseases), 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.

The US to dominate the pain management devices market in North America

North America dominated the pain management devices market, with a share of 52.3% in 2020, followed by Europe and the Asia Pacific, Latin America, and Middle East & Africa. North America has been among the frontrunners in developing pain management devices services in the healthcare industry. The pain management devices market in the US is expected to offer growth opportunities in the coming years owing to the increasing adoption of pain management devices in 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 pain management devices market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Pain Management Devices Market Overview
4.2 Asia-Pacific Pain Management Devices Market Share, by Application & Region (2020)
4.3 Pain Management Devices Market: Geographic Mix
4.4 Regional Mix: Pain Management Devices Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Rising Demand for Chronic Pain Management in Home Care Settings
5.2.1.2 Growing Number of Surgical Procedures Performed
5.2.1.3 Rising Prevalence of Neurological Disorders
5.2.1.3.1 Growing Incidence of Sports Injuries and Cancer
5.2.1.4 Established Reimbursement Scenario for Spinal Cord Stimulation (Scs) Devices in Developed Countries
5.2.2 Market Restraints
5.2.2.1 Product Recalls
5.2.2.2 High Procedural and Purchase Cost of Pain Management Devices
5.2.3 Market Opportunities
5.2.3.1 High Growth Opportunities in Emerging Countries
5.2.3.2 Expanding Base of Pain Management Clinics/Centers Across the Globe
5.2.3.3 Use of Pain Medications as the First Line of Treatment for Pain Management
5.2.3.4 Stringent Regulatory Guidelines Delay the Adoption of Novel Devices
5.3 Regulatory Landscape
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.3.1 Japan
5.3.3.2 China
5.3.3.3 India
5.3.3.4 Brazil
5.3.3.5 Mexico
5.4 Value Chain Analysis
5.5 Supply Chain Analysis
5.6 Porter's Five Forces Analysis
5.7 Industry Trends
5.7.1 Wearable Devices
5.7.2 Rising Popularity of Rechargeable Spinal Cord Stimulators
5.8 Trade Analysis
5.8.1 Trade Analysis for Instruments and Appliances Used in Medical, Surgical, or Veterinary Sciences
5.9 COVID-19 Impact on the Pain Management Devices Market

6 Pain Management Devices Market, by Type
6.1 Introduction
6.2 Neurostimulation Devices
6.2.1 Transcutaneous Electrical Nerve Stimulation (Tens) Devices
6.2.1.1 Extensive Use in Healthcare, Low Cost, and Ease of Use Will Favor Market Growth
6.2.2 Spinal Cord Stimulation
6.2.2.1 Rising Incidence of Indications and Efficacy & Reversibility of Procedure Have Supported the Adoption of Scs
6.3 Infusion Pumps
6.3.1 High Use of Infusion Pumps in Postoperative Pain Management
6.3.2 Intrathecal Infusion Pumps
6.3.3 External Infusion Pumps
6.4 Ablation Devices
6.4.1 Rf Ablation Devices
6.4.2 Cryoablation Devices

7 Pain Management Devices Market, by Application
7.1 Introduction
7.2 Neuropathic Pain
7.2.1 High Prevalence of Diseases Associated with Neuropathic Pain
7.3 Cancer Pain
7.4 Facial Pain & Migraine
7.5 Musculoskeletal Pain
7.6 Other Applications

8 Pain Management Devices Market, by Mode of Purchase
8.1 Introduction
8.2 Over-The-Counter Pain Management Devices
8.2.1 OTC Pain Management Devices Unfold New Growth Avenues
8.3 Prescription-Based Pain Management Devices

9 Pain Management Devices Market, by Region

10 Competitive Landscape
10.1 Overview
10.2 Revenue Share Analysis of the Top Market Players
10.3 Market Share Analysis
10.4 Company Evaluation Quadrant
10.4.1 Stars
10.4.2 Emerging Leaders
10.4.3 Pervasive Players
10.4.4 Participants
10.5 Company Evaluation Quadrant for Start-Ups
10.5.1 Progressive Companies
10.5.2 Dynamic Companies
10.5.3 Starting Blocks
10.5.4 Responsive Companies
10.6 Company Product Footprint
10.7 Geographic Footprint of the Major Players in the Pain Management Devices Market
10.8 Competitive Scenario
10.8.1 Product Launches
10.8.2 Deals
10.8.3 Other Developments

11 Company Profiles
11.1 Key Players
11.1.1 Medtronic
11.1.2 Abbott Laboratories
11.1.3 Boston Scientific Corporation
11.1.4 Stryker Corporation
11.1.5 Becton, Dickinson and Company
11.1.6 B. Braun Melsungen Ag
11.1.7 Baxter International Inc.
11.1.8 Avanos Medical, Inc.
11.1.9 Teleflex, Inc.
11.1.10 Smiths Medical
11.1.11 Nipro Corporation
11.1.12 Moog Inc.
11.1.13 Atricure
11.1.14 Nevro Corp.
11.1.15 Micrel Medical Devices Sa
11.1.16 Mindray Medical International Limited
11.1.17 Shenzhen Medrena Biotech Co., Ltd.
11.1.18 Epic Medical
11.1.19 Bioness
11.1.20 Soterix Medical
11.2 Other Players
11.2.1 Infutronix Solutions LLC
11.2.2 Gimer Medical
11.2.3 Bluewind Medical
11.2.4 Neuronano
11.2.5 Microtransponder

12 Appendix

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