Pain Management Devices Market Key Players, Regional Demand, Trends and Forecast To 2023

Research Reports

Jan 21, 2021

Pain management is a medical science branch that eases the suffering of patients who have chronic pain. Acute pain has a rapid onset of action, while chronic pain lasts for a prolonged period of time, which adds to the need to treat it. Pain management devices are medical devices used to treat various forms of pain, such as neuropathic pain, cancer pain, musculoskeletal pain, nociceptive pain, and others.

As per Market Research Future (MRFR) analysis, the global pain management device market held a valuation of $3.58 billion in 2016 and is expected to reach $5.81 billion with a CAGR of 7.2 % from 2016 to 2023 (forecast period). Adapting to the latest novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global market for pain management devices is included in this study.

Market Segmentation

The global market for pain management devices has been segmented into type and application.

Based on type, the global market for pain management devices has been segmented into stimulators, pumps, and ablation devices. Stimulators are sub-segmented into neuromodulator devices and transcutaneous electrical nerve stimulation (TENS) devices. Neuromodulator devices are further sub-segmented into spinal cord stimulator, intrathecal pain pump, peripheral nerve stimulator, dorsal root ganglion stimulation, and other.

Ablation devices are further segmented into microwave devices, cryoablation devices, and others. Pumps are sub-segmented as analgesic infusion pumps and others. Analgesic infusion pumps are further segmented into patient control infusion pumps, external infusion pumps, intrathecal infusion pumps, and others.

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Market Dynamics

The market for pain management devices is driven by a growing number of patients suffering from various diseases. The increasing aging population and increasing government’s efforts to increase pain management centers have expanded the market. Besides this, the increasing prevalence of many acute and chronic diseases has also led to an increase in the market of pain management devices.

On the other hand, the side effects of pain management devices and high costs are the main limiting factors for the market’s growth.

Regional Analysis

Region-wise, the global market for pain management devices has been segmented into North America, Asia Pacific, Europe, and the Middle East & Africa.

North America is the leading market for pain management devices, followed by Europe. Market growth is essentially underpinned by massive investment and advancement in research and development. Growth has been driven by a lot of development and research in neurostimulation related pain management devices.

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Key Players

Some of the significant participants in the global market for pain management devices are Baxter International Inc. (US), Medtronic Plc (US), St. Jude Medical (US), Boston Scientific Corporation (US), Bio-Medical Research (BMR) Ltd. (UK), Smiths Medical (UK), Codman and Shurtleff, Inc. (US), Kimberly-Clark Corporation (US), Hospira Inc. (US), DJO Global LLC (US), B. Braun Melsungen AG. (Germany) Stryker Corporation (US), and Pain Management, Inc (US).

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