The global pain management devices market size is expected to reach USD 14.14 billion by 2030, registering a CAGR of 9.5% over the forecast period, according to a new report by Grand View Research, Inc. The market is experiencing growth due to the rising prevalence of chronic diseases and the expanding elderly population worldwide. The preference for pain management devices as an alternative to surgical procedures and oral medications is also expected to drive market growth significantly. Technological advancements in the field, particularly in electrostimulation devices, incorporating Artificial Intelligence (AI), Microelectromechanical Systems (MEMS), and Machine Learning(ML) applications are contributing to the market growth.
Furthermore, there is a rising incidence of musculoskeletal disorders, including osteoarthritis, arthritis, rheumatoid arthritis, and degenerative orthopedic conditions. This rise in cases has led to an increased impact on individuals’ ability to perform daily activities and a higher prevalence of chronic pain among this population. For instance, according to the Global RA Network, over 350 million individuals had arthritis worldwide in 2021. Furthermore, technological advancements are anticipated to drive further growth. For instance, in October 2022, Nevro Corp., a medical device organization, revealed that it had obtained permission from the FDA, a federal agency of the Department of Health and Human Services, for the Senza HFX iQ Spinal Cord Stimulation (SCS) system.
It is a system that utilizes Artificial Intelligence (AI) to maintain and optimize pain alleviation by utilizing each patient's response. This would significantly expand the company’s portfolio. Moreover, the company started the U.S. full market launch of the SCS system in March 2023. Many elective surgeries were canceled or postponed during the COVID-19 pandemic to reduce the exposure of the patients as well as the healthcare providers, which is anticipated to augment the need for pain management devices. In July 2020, the U.S. Food and Drugs Authority permitted an Emergency Use Authorization (EUA) for the electroCore- a non-invasive vagus nerve stimulator to help COVID-19 patients at home with asthma-related problems.
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In terms of revenue, the neurostimulation segment held the largest share of 57.7% in 2022 due to the rising prevalence of neurological illnesses
The radiofrequency ablation segment is anticipated to exhibit the fastest growth over the forecast period due to the increasing prevalence of cardiovascular & chronic conditions and the rising shift toward minimally invasive surgeries
The neuropathic pain segment held the largest revenue share of 31.9% in 2022 due to the high prevalence of neuropathic pain and the latest product launches by players in the industry
The cancer segment is projected to showcase lucrative growth over the forecast period due to the growing usage of pain management devices to alleviate pain associated with cancer
Grand View Research has segmented the global pain management devices market on the basis of product, application, and region:
Pain Management Devices Product Outlook (Revenue, USD Million, 2018 - 2030)
Electrical Stimulators
TENS
Others
Radiofrequency Ablation (RFA)
Analgesic Infusion Pumps
Intrathecal Infusion Pumps
External Infusion Pumps
Neurostimulation
Spinal Cord Stimulators
Deep Brain Stimulators
Sacral Neurostimulators
Others
Pain Management Devices Application Outlook (Revenue, USD Million, 2018 - 2030)
Cancer
Neuropathic Pain
Facial & Migraine
Musculoskeletal
Trauma
Others
Pain Management Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
The Netherlands
Asia Pacific
Japan
China
India
Australia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
List of Key Players of Pain Management Devices Market
B Braun Melsungen AG
Baxter
Boston Scientific Corp.
Nevro Corp.
Enovis
OMRON Healthcare, Inc.
Medtronic
ICU Medical, Inc.
Abbott
Stryker
Stimwave LLC
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