Pain Management Device Market: Top Players, Rapid Growth, and Projections for 2028

According to TechSci Research report, “Pain Management Device Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the global pain management device market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the rising healthcare awareness, and spending, increasing geriatric population across the globe, increasing frequency of lifestyle- related diseases, and increasing neuropathic disorders.. Rising usage of pain management devices for the treatment of chronic pain and demand for pain management devices is further expected to contribute to the market growth in the forecast period.

However, lack of awareness about pain management devices in the region, issues like a dearth of pain clinics in various countries, lack of skilled experts to manage the process, and the high cost of devices may hamper the global pain management device market in the forecast period.

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The global pain management device market is segmented into product, mode of purchase, application, end user, region, and competitive landscape.

Based on Product, the global pain management device market can be segmented into Electrical Stimulators, Radiofrequency Ablation (RFA), Analgesic Infusion Pumps, Neurostimulation. The Neurostimulation is expected to dominate the market in 2022 and maintain its dominance throughout the forecast period. The increasing neurological disorders, chronic pain, epilepsy, movement disorders and depression, growing aging population, increasing demand for products and increasing development of technologically advanced products arethe main factors that will boost the market in the forecast period.

Based on Application, the global pain management device market can be segmented into Cancer, Neuropathic Pain, Facial & Migraine, Musculoskeletal Disorder, Others. The cancer segment is predicted to dominate the market in 2022 and maintain its dominance throughout the forecast period. However, the increasing number of cancer patients has led to an increase in the product demand to reduce the pain caused by nerve compression because of tumor compressing. Moreover, the rising prevalence of genetic diseases like acute lymphoblastic leukemia will boost the market for pain management device in the forecast period.

Major companies operating in global pain management device market are:

• B. Braun Melsungen AG
• Bio-Medical Research (BMR) Ltd.
• Baxter International, Inc.
• Avanos Medical, Inc.
• DJO Global, Inc.
• Medtronic plc
• Stryker Corporation
• Boston Scientific Corporation
• Nipro Corporation
• Nevro Corporation

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“North America is expected to register the highest growth in the global pain management device market on account of developed healthcare infrastructure with advanced pain management devices and, increasing government initiatives like affordable care act with reimbursement procedure in the urban region. Increasing incidence of hypertension and stroke, increasing aging population and increasing risk of chronic illness are expected to drive the demand for pain management device market in the forecast period. Similarly, growing medical tourism is expected to propel the market growth till 2028,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Pain Management Device Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Product (Electrical Stimulators, Radiofrequency Ablation (RFA), Analgesic Infusion Pumps, Neurostimulation), By Mode of Purchase (Over-The-Counter v/s Prescription-Based) ,By Application (Cancer, Neuropathic Pain, Facial & Migraine, Musculoskeletal Disorder, Others), By End User (Hospitals & Clinics, Physiotherapy Centers, Others), By Region,” has evaluated the future growth potential of global pain management device market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global pain management device market.

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