The global pain management devices market was valued at USD 2.2 billion in 2021 and it is anticipated to grow up to USD 8.0 billion by 2031, at a CAGR of 13.8% during the forecast period.
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Pain management devices are medical devices that are used in management of different types of pain such as neuropathic pain, cancer pain, nociceptive pain, musculoskeletal pain, and others. Spinal cord stimulators, transcutaneous electrical nerve stimulation devices, analgesic infusion pumps, and ablation devices are various types of pain management devices available in the market.
Market Trends and Drivers
Growing number of surgical procedures performed will propel the market growth. Over the years, there has been a significant rise in the number of surgical procedures performed across the globe. This can be attributed to the rising geriatric population and the growing prevalence of obesity and other lifestyle diseases. Obesity is one of the key causes of cardiovascular and orthopedic diseases. Analgesia/pain management is the key application area of infusion pumps. Infusion pumps are also widely used for the local administration of narcotic analgesics and anesthetics following bariatric surgery, cardiothoracic surgery, and laparoscopic cholecystectomy. PCA pumps are used to manage post-operative pain in various orthopedic surgeries such as spine surgeries and in major joint and foot/lower extremity surgical procedures. According to the National Spinal Cord Injury Statistical Center (NSCISC) 2016 datasheet, the annual incidence of spinal cord injuries (SCI) is approximately 54 cases per million population in the US or approximately 17,000 new SCI cases each year. According to the NCBI, more than 51 million inpatient surgical procedures are performed annually in the US alone, and approximately 90% of all hospitalized patients receive medications through IV. With an increase in the number of surgeries performed, the demand for infusion therapy is expected to increase.
Market Restraints and Challenges
Use of pain medications as the first line of treatment for pain management may hamper the industry progression. Medication is often the first therapy that doctors use to manage chronic pain. Pain specialists prefer to prescribe medications over devices to patients suffering from pain majorly due to their easy availably, presence of substantial clinical evidence, and lower cost. Usually, physicians opt for pain management devices such as TENS or SCS only if medication and other alternative treatments do not work.
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Major Players in the Global Pain Management Devices Market
The key players in the market are Medtronic PLC (Ireland), Boston Scientific (US), Abbott (US), Becton, Dickinson and Company (US), Baxter International (US), B. Braun Melsungen AG (Germany), Stryker (US), Smiths Medical (US), and Moog Inc. (US), among others.
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