Pain Management Devices Market by Type (Ablation Devices (Radiofrequency Ablation, Cryoablation), Neurostimulation Devices (Transcutaneous Electrical Nerve Stimulation (TENS), Spinal Cord Stimulation (SCS)), Analgesic Infusion Pumps (Intrathecal Infusion, External Infusion)), Application (Neuropathic Pain, Facial Pain & Migraine, Cancer Pain, Musculoskeletal Pain) - Analysis & Forecast 2019-2030
Report ID : 30 | Published Date : Feb 2019 | Pages : 150 | Region : Global | Report Code : MD-15
Pain Management Devices Market Overview and Introduction
The global pain management devices market is estimated to be over US$ 3.5 Bn in 2017. It is anticipated to grow at a CAGR of 13.4% from 2019 to 2030.The global pain management devices market is segmented by type, application, and region.
Pain management devices are widely used to treat patients suffering from acute or chronic pain, which requires therapy and healing. These devices assist in managing pain among patients suffering from several conditions, namely neurological disorders, cancer and musculoskeletal disorders. Further, such devices restores the ability of users to perform, day to day activities, lower pain medications, and ultimately improve quality of life.
The global pain management devices market is driven by technological advancements in the pain treatment and therapy arena, increasing patient awareness and health care expenditure, increasing prevalence of chronic and acute pain, and rising geriatric population are major factors driving the market. However, high cost related to pain management devices products is likely to restrain the market to certain extent.
Pain Management Devices Market by Type
On the basis of type, the pain management devices market is segmented into ablation devices, neurostimulation devices, and analgesic infusion pumps. The ablation devices are further segmented into Radiofrequency ablation devices, and cryoablation devices. Similarly, the neurostimulation devices segment is bifurcated into Transcutaneous Electrical Nerve Stimulation (TENS) devices and Spinal Cord Stimulation (SCS) devices. Finally, the analgesic infusion pumps segment is classified into intrathecal infusion and external infusion. The neurostimulation segment is estimated to account for the largest market share of the global pain management devices market. Growth of this segment can be attributed to high efficacy for treatment of chronic pain and cost-effectiveness of neurostimulation devices.
Pain Management Devices Market by Applications
Based on application, the market is segmented into neuropathic pain, facial pain & migraine, cancer pain, musculoskeletal pain, and other applications. The neuropathic pain segment is estimated to account for the largest share of the global pain management devices market. The large share of this segment can be attributed to the rising incidence and prevalence of diseases which lead to neuropathic pain.
Pain Management Devices Market by Regions
The global pain management devices market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of pain management devices, followed by Europe and Asia Pacific. North America will continue to dominate the global pain management devices market in the forecast period owing to factors such as increasing incidences and prevalence of chronic diseases products and highly developed healthcare system. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the rising focus of major players in emerging Asian countries and government support, increasing disposable incomes, rising awareness among the population are driving the growth of the pain management devices market in this region.
Pain Management Devices Market Prominent Players
The prominent players in the global pain management devices market are Medtronic, ST. Jude Medical, Inc. (A subsidiary of Abbott), Boston Scientific Corporation, Hospira, Inc. (A subsidiary of Pfizer Inc.), Smiths Medical, B. Braun Melsungen AG, Halyard Health, Inc. (O&M Halyard or its affiliates) BIO-MEDICAL RESEARCH LTD, BD, and Nevro Corp. among others