Product Code: MD 4371
The global pain management devices market is projected to reach USD 5,835.8 million by 2029 from USD 3,768.6 million in 2024, at a CAGR of 9.1% during the forecast period. The rapid growth in the geriatric population globally and the significant rise in the patients with chronic pain conditions are expected to boost the demand for pain management devices market. Moreover, gradual rise in utilization of pain management devices due to improved awareness among patients is likely to support the market growth. Advancements in pain management devices technology, new product launches, favourable reimbursement and government policies, investments in healthcare infrastructure, and initiatives to enhance the accessibility and affordability of pain management devices is anticipated to fuel the market growth.
Scope of the Report |
Years Considered for the Study | 2024-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | Type, Application, Mode Of Purchase, End User, and Region |
Regions covered | North America, Europe, APAC, LATAM, and MEA (GCC Countries, RoMEA) |
"The Neurostimulation devices segment of pain management devices market to grow with the highest CAGR during the forecast period."
Based on the pain management devices market, the Neurostimulation devices pain management devices segment is anticipated to grow at significant rate during forecast period. The demand for neurostimulation devices in the pain management market is increasing due to their effectiveness in treating chronic pain, their minimally invasive nature, and advancements in technology that enhance their functionality and patient comfort .These factors are fostering the growth of neurostimulation devices at higher pace.
"The neuropathic pain segment of application segment to capture the largest market share of pain management devices market."
Based on application, the pain management devices market is segmented into neuropathic pain, musculoskeletal pain, cancer pain, facial & migraine , and other applications. The neuropathic segment is to capture the largest share and the higher CAGR during the forecast period. Owing to high prevalence of neuropathic pain across the globe, presence of substantial clinical evidence in the favor of high efficacy of pain management devices in neuropathic pain treatment, development of novel devices, the rising 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 favorable reimbursement are boosting the adoption of pain management devices for neuropathic pain conditions.
"North America accounted for the largest share of the pain management devices market by region."
The global pain management devices market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest regional market for pain management devices, whereas the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.
The largest share of North America is attributed to the high disease burden of chronic disease and pain conditions contributing to a larger pool of patients requiring pain management devices products. The presence of numerous potential market giants and favorable reimbursement policy in the region is likely to promote the growth of pain management devices market in North America.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1-60%, Tier 2-30%, and Tier 3- 10%
- By Designation: Directors-50%, Managers-30% and Others-20%
- By Region: North America-45%, Europe-15%, Asia Pacific-25% and RoW-15%
The major players operating in the pain management devices market market are Medtronic (Ireland), Boston Scientific Corporation(US), Abbott Laboratories (US), Stryker (US), Nevro Corp. (US), Becton, Dickinson and Company (US), Baxter (US), B. Braun SE (Germany), Omron Corporation (Japan), Avanos Medical, Inc. (US), Teleflex Incorporated (US),ICU Medical, Inc. (US), Nipro (Japan), Moog Inc. (US), Atricure, Inc. (US), Micrel Medical Devices SA (Greece), Zynex, Inc.(US), and Enovis Corporation (US).
Research Coverage
This report studies the pain management devices market based on type, application, mode of purchase, end user and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
This report provides insights on the following pointers:
- Analysis of Key divers (increasing prevalence of chronic pain conditions, rising demand of pain management devices in home care settings, , new product launches & approvals, favourable reimbursement scenario and government initiatives), restraints (high procedural cost, product recalls), Opportunities (emerging markets, expanding base of pain management clinics/centers ) , Challenge (stringent regulatory requirement, use of pain medication as first-line treatment for pain management)
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the pain management devices market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the pain management devices market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the pain management devices market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.2.1 INCLUSIONS AND EXCLUSIONS
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 YEARS CONSIDERED
- 1.3.3 CURRENCY CONSIDERED
- 1.4 STAKEHOLDERS
- 1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Insights from industry experts
- 2.1.2.3 Breakdown of primary interviews
- 2.1.2.4 Supply-side and demand-side participants
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 DATA TRIANGULATION
- 2.4 RESEARCH ASSUMPTIONS
- 2.5 RESEARCH LIMITATIONS
- 2.6 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PAIN MANAGEMENT DEVICES MARKET
- 4.2 ASIA PACIFIC PAIN MANAGEMENT DEVICES MARKET, BY APPLICATION AND COUNTRY
- 4.3 PAIN MANAGEMENT DEVICES MARKET, BY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Surge in demand for at-home pain management devices
- 5.2.1.2 Increase in surgical procedures
- 5.2.1.3 Prevalence of chronic pain conditions
- 5.2.1.4 Favorable reimbursement policies for spinal cord stimulation devices
- 5.2.1.5 Growing launches and regulatory approvals for advanced pain management devices
- 5.2.2 RESTRAINTS
- 5.2.2.1 Rise in product recalls
- 5.2.2.2 High procedural and purchase cost of pain management devices
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Untapped growth potential in emerging economies
- 5.2.3.2 Expansion of pain management clinics
- 5.2.4 CHALLENGES
- 5.2.4.1 Use of pain medication as first line of treatment
- 5.2.4.2 Stringent regulatory norms for FDA approval
- 5.3 TECHNOLOGY ANALYSIS
- 5.3.1 KEY TECHNOLOGIES
- 5.3.1.1 Wearable devices
- 5.3.1.2 Implantable pumps
- 5.3.2 COMPLEMENTARY TECHNOLOGIES
- 5.3.2.1 Virtual reality
- 5.3.2.2 Digital therapeutics
- 5.3.3 ADJACENT TECHNOLOGIES
- 5.4 INDUSTRY TRENDS
- 5.4.1 ELECTROTHERAPY DEVICES
- 5.4.2 RECHARGEABLE SPINAL CORD STIMULATORS
- 5.5 SUPPLY CHAIN ANALYSIS
- 5.6 TRADE ANALYSIS
- 5.7 PORTER'S FIVE FORCES ANALYSIS
- 5.7.1 THREAT FROM NEW ENTRANTS
- 5.7.2 THREAT FROM SUBSTITUTES
- 5.7.3 BARGAINING POWER OF SUPPLIERS
- 5.7.4 BARGAINING POWER OF BUYERS
- 5.7.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.8 REGULATORY LANDSCAPE
- 5.8.1 NORTH AMERICA
- 5.8.1.1 US
- 5.8.1.2 Canada
- 5.8.2 EUROPE
- 5.8.3 ASIA PACIFIC
- 5.8.3.1 Japan
- 5.8.3.2 China
- 5.8.3.3 India
- 5.8.4 LATIN AMERICA
- 5.8.4.1 Brazil
- 5.8.4.2 Mexico
- 5.8.5 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 5.9 PATENT ANALYSIS
- 5.10 PRICING ANALYSIS
- 5.11 KEY CONFERENCES AND EVENTS, 2024-2025
- 5.12 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.12.2 BUYING CRITERIA
- 5.13 ECOSYSTEM ANALYSIS
- 5.14 CASE STUDY ANALYSIS
- 5.15 REIMBURSEMENT ANALYSIS
- 5.16 UNMET NEEDS IN PAIN MANAGEMENT DEVICES MARKET
- 5.17 VALUE CHAIN ANALYSIS
- 5.18 END USER EXPECTATIONS IN PAIN MANAGEMENT DEVICES MARKET
- 5.19 IMPACT OF AI/GEN AI IN PAIN MANAGEMENT DEVICES MARKET
- 5.20 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS' BUSINESSES
- 5.21 INVESTMENT AND FUNDING SCENARIO
6 PAIN MANAGEMENT DEVICES MARKET, BY TYPE
- 6.1 INTRODUCTION
- 6.2 NEUROSTIMULATION DEVICES
- 6.2.1 TRANSCUTANEOUS ELECTRICAL NERVE STIMULATORS
- 6.2.1.1 Surge in demand for non-invasive therapy to drive market
- 6.2.2 SPINAL CORD STIMULATORS
- 6.2.2.1 Extensive use of SCS for pain treatment to drive market
- 6.2.3 OTHERS
- 6.3 INFUSION PUMPS
- 6.3.1 INTRATHECAL INFUSION PUMPS
- 6.3.1.1 Increasing incidences of chronic pain to drive market
- 6.3.2 EXTERNAL INFUSION PUMPS
- 6.3.2.1 Availability of reimbursement to drive market
- 6.4 ABLATION DEVICES
- 6.4.1 RADIOFREQUENCY ABLATION DEVICES
- 6.4.1.1 Low cost of RF ablation procedures to drive market
- 6.4.2 CRYOABLATION ABLATION DEVICES
- 6.4.2.1 Successful clinical trials to drive market
- 6.4.3 ULTRASOUND ABLATION DEVICES
- 6.4.3.1 Efficacy in targeted pain management to drive market
- 6.4.4 OTHERS
7 PAIN MANAGEMENT DEVICES MARKET, BY APPLICATION
- 7.1 INTRODUCTION
- 7.2 NEUROPATHIC PAIN
- 7.2.1 HIGH EFFICACY OF PAIN MANAGEMENT DEVICES IN NEUROPATHIC PAIN TREATMENT TO DRIVE MARKET
- 7.3 MUSCULOSKELETAL PAIN
- 7.3.1 SURGE IN AGING POPULATION TO DRIVE MARKET
- 7.4 CANCER PAIN
- 7.4.1 PREVALENCE OF CANCER TO DRIVE MARKET
- 7.5 FACIAL PAIN & MIGRAINE
- 7.5.1 INTRODUCTION OF NOVEL PAIN MANAGEMENT DEVICES TO DRIVE MARKET
- 7.6 OTHER APPLICATIONS
8 PAIN MANAGEMENT DEVICES MARKET, BY MODE OF PURCHASE
- 8.1 INTRODUCTION
- 8.2 PRESCRIPTION-BASED
- 8.2.1 INCREASING INCIDENCES OF MEDICAL DISORDERS TO DRIVE MARKET
- 8.3 OVER-THE-COUNTER
- 8.3.1 ACCESSIBILITY OF OTC PAIN MANAGEMENT DEVICES TO DRIVE MARKET
9 PAIN MANAGEMENT DEVICES MARKET, BY END USER
- 9.1 INTRODUCTION
- 9.2 HOSPITALS & CLINICS
- 9.3 PHYSIOTHERAPY CENTERS
- 9.3.1 RISE OF SPORTS INJURIES AND MUSCULOSKELETAL DISORDERS TO DRIVE MARKET
- 9.4 HOME CARE SETTINGS
- 9.4.1 HIGH COST OF HOSPITALIZATION TO DRIVE MARKET
- 9.5 OTHER END USERS
10 PAIN MANAGEMENT DEVICES MARKET, BY REGION
- 10.1 INTRODUCTION
- 10.2 NORTH AMERICA
- 10.2.1 MACROECONOMIC OUTLOOK
- 10.2.2 US
- 10.2.2.1 Favorable reimbursement policies to drive market
- 10.2.3 CANADA
- 10.2.3.1 Increasing incidences of chronic pain to drive market
- 10.3 EUROPE
- 10.3.1 MACROECONOMIC OUTLOOK
- 10.3.2 GERMANY
- 10.3.2.1 Robust healthcare infrastructure to drive market
- 10.3.3 FRANCE
- 10.3.3.1 Government initiatives for lowering healthcare costs to drive market
- 10.3.4 UK
- 10.3.4.1 Shift toward home care settings to drive market
- 10.3.5 ITALY
- 10.3.5.1 Growing healthcare investments to drive market
- 10.3.6 SPAIN
- 10.3.6.1 Surge in new cancer cases to drive market
- 10.3.7 REST OF EUROPE
- 10.4 ASIA PACIFIC
- 10.4.1 MACROECONOMIC OUTLOOK
- 10.4.2 JAPAN
- 10.4.2.1 Large geriatric population to drive market
- 10.4.3 CHINA
- 10.4.3.1 Growing investments in healthcare infrastructure development to drive market
- 10.4.4 INDIA
- 10.4.4.1 High prevalence of lifestyle diseases to drive market
- 10.4.5 AUSTRALIA
- 10.4.5.1 Initiatives promoting development of novel pain management devices to drive market
- 10.4.6 SOUTH KOREA
- 10.4.6.1 Growing demand for effective treatment options to drive market
- 10.4.7 REST OF ASIA PACIFIC
- 10.5 LATIN AMERICA
- 10.5.1 MACROECONOMIC OUTLOOK
- 10.5.2 BRAZIL
- 10.5.2.1 Private and government sector awareness programs to drive market
- 10.5.3 MEXICO
- 10.5.3.1 Domestic health coverage schemes to drive market
- 10.5.4 REST OF LATIN AMERICA
- 10.6 MIDDLE EAST & AFRICA
- 10.6.1 MACROECONOMIC OUTLOOK
- 10.6.2 GCC COUNTRIES
- 10.6.2.1 High healthcare spending capacity to drive market
- 10.6.3 REST OF MIDDLE EAST & AFRICA
11 COMPETITIVE LANDSCAPE
- 11.1 INTRODUCTION
- 11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN, 2021-2024
- 11.3 REVENUE ANALYSIS, 2021-2023
- 11.4 MARKET SHARE ANALYSIS, 2023
- 11.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
- 11.5.1 STARS
- 11.5.2 EMERGING LEADERS
- 11.5.3 PERVASIVE PLAYERS
- 11.5.4 PARTICIPANTS
- 11.5.5 COMPANY FOOTPRINT
- 11.5.5.1 Company footprint
- 11.5.5.2 Type footprint
- 11.5.5.3 Region footprint
- 11.6 COMPANY EVALUATION MATRIX: START-UPS/SMES, 2023
- 11.6.1 PROGRESSIVE COMPANIES
- 11.6.2 RESPONSIVE COMPANIES
- 11.6.3 DYNAMIC COMPANIES
- 11.6.4 STARTING BLOCKS
- 11.6.5 COMPETITIVE BENCHMARKING
- 11.7 BRAND/PRODUCT COMPARISON
- 11.8 R&D ASSESSMENT
- 11.9 COMPANY VALUATION AND FINANCIAL METRICS
- 11.10 COMPETITIVE SCENARIO
- 11.10.1 PRODUCT APPROVALS/LAUNCHES
- 11.10.2 DEALS
- 11.10.3 EXPANSIONS
- 11.10.4 OTHERS
12 COMPANY PROFILES
- 12.1 KEY PLAYERS
- 12.1.1 MEDTRONIC
- 12.1.1.1 Business overview
- 12.1.1.2 Products offered
- 12.1.1.3 Recent developments
- 12.1.1.3.1 Product approvals/launches
- 12.1.1.4 MnM view
- 12.1.1.4.1 Key strengths
- 12.1.1.4.2 Strategic choices
- 12.1.1.4.3 Weaknesses and competitive threats
- 12.1.2 BOSTON SCIENTIFIC CORPORATION
- 12.1.2.1 Business overview
- 12.1.2.2 Products offered
- 12.1.2.3 Recent developments
- 12.1.2.4 MnM view
- 12.1.2.4.1 Key strengths
- 12.1.2.4.2 Strategic choices
- 12.1.2.4.3 Weaknesses and competitive threats
- 12.1.3 ABBOTT LABORATORIES
- 12.1.3.1 Business overview
- 12.1.3.2 Product offered
- 12.1.3.3 Recent developments
- 12.1.3.3.1 Product approvals/launches
- 12.1.3.4 MnM view
- 12.1.3.4.1 Key strengths
- 12.1.3.4.2 Strategic choices
- 12.1.3.4.3 Weaknesses and competitive threats
- 12.1.4 NEVRO CORP.
- 12.1.4.1 Business overview
- 12.1.4.2 Products offered
- 12.1.4.3 Recent developments
- 12.1.4.3.1 Product approvals/launches
- 12.1.4.3.2 Deals
- 12.1.4.4 MnM view
- 12.1.4.4.1 Key strengths
- 12.1.4.4.2 Strategic choices
- 12.1.4.4.3 Weaknesses and competitive threats
- 12.1.5 BECTON, DICKINSON AND COMPANY
- 12.1.5.1 Business overview
- 12.1.5.2 Products offered
- 12.1.5.3 Recent developments
- 12.1.5.4 MnM view
- 12.1.5.4.1 Right to win
- 12.1.5.4.2 Strategic choices
- 12.1.5.4.3 Weaknesses and competitive threats
- 12.1.6 STRYKER
- 12.1.6.1 Business overview
- 12.1.6.2 Products offered
- 12.1.6.3 Recent developments
- 12.1.7 B. BRAUN SE
- 12.1.7.1 Business overview
- 12.1.7.2 Products offered
- 12.1.7.3 Recent developments
- 12.1.7.3.1 Deals
- 12.1.7.3.2 Others
- 12.1.8 BAXTER
- 12.1.8.1 Business overview
- 12.1.8.2 Products offered
- 12.1.9 OMRON CORPORATION
- 12.1.9.1 Business overview
- 12.1.9.2 Products offered
- 12.1.10 AVANOS MEDICAL, INC.
- 12.1.10.1 Business overview
- 12.1.10.2 Products offered
- 12.1.11 TELEFLEX INCORPORATED
- 12.1.11.1 Business overview
- 12.1.11.2 Products offered
- 12.1.12 ICU MEDICAL, INC.
- 12.1.12.1 Business overview
- 12.1.12.2 Products offered
- 12.1.12.3 Recent developments
- 12.1.13 NIPRO
- 12.1.13.1 Business overview
- 12.1.13.2 Products offered
- 12.1.13.3 Recent developments
- 12.1.14 MOOG INC.
- 12.1.14.1 Business overview
- 12.1.14.2 Products offered
- 12.1.15 ATRICURE, INC.
- 12.1.15.1 Business overview
- 12.1.15.2 Products offered
- 12.1.15.3 Recent developments
- 12.1.15.3.1 Product approvals/launches
- 12.1.16 MICREL MEDICAL DEVICES SA
- 12.1.16.1 Business overview
- 12.1.16.2 Products offered
- 12.1.17 ZYNEX, INC.
- 12.1.17.1 Business overview
- 12.1.17.2 Products offered
- 12.1.18 ENOVIS CORPORATION
- 12.1.18.1 Business overview
- 12.1.18.2 Products offered
- 12.2 OTHER PLAYERS
- 12.2.1 EPIC MEDICAL
- 12.2.2 SOTERIX MEDICAL INC.
- 12.2.3 GIMER MEDICAL
- 12.2.4 NEURONANO AB
- 12.2.5 ICECURE MEDICAL
- 12.2.6 BIOWAVE
- 12.2.7 THERANICA BIO-ELECTRONICS LTD.
13 APPENDIX
- 13.1 DISCUSSION GUIDE
- 13.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.3 CUSTOMIZATION OPTIONS
- 13.4 RELATED REPORTS
- 13.5 AUTHOR DETAILS