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Redding, California - June 14, 2024

Pain Management Devices Market to be Worth $16.40 Billion by 2031

Pain Management Devices Market Size, Share, Forecast, & Trends Analysis by Product (Neurostimulation [DBS, TENS, VNS], Infusion Pump, Compression), Pain Type (Surgical, Musculoskeletal, Neuropathic, Cancer), Distribution, End User - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Pain Management Devices Market Size, Share, Forecast, & Trends Analysis by Product (Neurostimulation [DBS, TENS, VNS], Infusion Pump, Compression), Pain Type (Surgical, Musculoskeletal, Neuropathic, Cancer), Distribution, End User - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the pain management devices market is projected to reach $16.40 billion by 2031, at a CAGR of 5.3% during the forecast period. The growth of the pain management devices market is primarily driven by the rising number of chronic pain cases associated with the geriatric population, the increasing number of surgical procedures, the increasing prevalence of cancer & musculoskeletal diseases, technological advancements in pain management devices, increasing healthcare expenditures, and the increasing number of sports & accident injuries. However, the high costs of pain management devices & therapies and product recalls restrain the growth of this market.

Moreover, partnerships & collaborations by pain management device companies, the integration of digital health technologies into pain management devices, and emerging economies are expected to offer market growth opportunities. However, the lack of awareness about the use of pain management devices in developing countries and the availability of alternative technologies are major challenges in the pain management devices market. Additionally, electrical stimulation devices and wearable pain management devices are prominent trends in the pain management devices market.

Key Players

The key players operating in the pain management devices market are Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), Boston Scientific Corporation (U.S.), Johnson & Johnson Services, Inc. (U.S.), Baxter International, Inc. (U.S.), VirpaxPharmaceuticals, Inc. (U.S.), B. Braun Melsungen AG (Germany), Medtronic plc (Ireland), Rusan Pharma Ltd (India), Grünenthal GmbH (Germany), OMRON Healthcare, Inc. (U.S.), and Nevro Corp. (U.S.).

Pain Management Devices Market: Future Outlook

The pain management devices market is segmented based on Product (Compression Therapy Devices [Bandages, Garments {Stockings, Socks & Sleeves, Wraps & Tapes, Other Garments}, Intermittent/Sequential Pneumatic Compression Pumps, Other Pressure Pumps], Neurostimulation Devices [Deep Brain Stimulation (DBS) Systems, Spinal Cord Stimulation Systems, Transcutaneous Electrical Nerve Stimulation (TENS) Systems, Vagus Nerve Stimulation (VNS) Systems, Other Neurostimulation Devices], Analgesic Infusion Pumps [Intrathecal Infusion Pumps, External Infusion Pumps], Electrotherapy Devices, Ablation Devices, Accessories), Portability (Stationary/Benchtop, Wearable & Implantable), Pain Type (Acute Pain [Injuries, Surgeries], Chronic Pain [Musculoskeletal Pain, Neuropathic Pain, Cancer Pain, Other Chronic Pain Types]), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online/E-commerce Platforms), End User (Hospitals & Clinics, Ambulatory Surgical Centers, Physiotherapy Centers, Home Care Settings, Other End Users), and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on product, the pain management devices market is segmented into compression therapy devices, neurostimulation devices, analgesic infusion pumps, electrotherapy devices, ablation devices, and accessories. In 2024, the compression therapy devices segment is expected to account for the largest share of 28.1% of the pain management devices market. The large market share of this segment can be attributed to technological advancements in compression therapy devices and the increasing demand for compression therapy devices due to their use in treating chronic pain.

Based on portability, the pain management devices market is segmented into stationary/benchtop and wearable & implantable devices. In 2024, the wearable & implantable segment is expected to account for the larger share of the pain management devices market. The segment’s large market share can be attributed to technological advancements in wearable & implantable pain management devices and the benefits offered by these devices, such as the ability to track muscle activity and provide real-time feedback.

Based on pain type, the pain management devices market is segmented into acute pain and chronic pain. In 2024, the chronic pain segment is expected to account for the larger share of the pain management devices market. The large market share of this segment can be attributed to the increasing cases of musculoskeletal diseases, neuropathic cases, and the increasing prevalence of cancer.

Based on distribution channel, the pain management devices market is segmented into hospital pharmacies, retail pharmacies, and online/e-commerce platforms. In 2024, the retail pharmacies segment is expected to account for the largest share of the pain management devices market. The segment’s large share is attributed to the convenience offered by retail pharmacies, the availability of pain management solutions at pharmacy stores, growing awareness about pain management devices, and easy access to retail pharmacies.

Based on end user, the pain management devices market is segmented into hospitals & clinics, ambulatory surgical centers, physiotherapy centers, home care settings, and other end users. In 2024, the hospitals & clinics segment is expected to account for the largest share of the pain management devices market. The large market share of this segment can be attributed to the growing number of patient visits to hospitals & clinics for pain management and surgical procedures and the high adoption of pain management devices in hospitals and clinics.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of the pain management devices market in North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, Switzerland, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

In 2024, North America is expected to account for the largest share of 30.7% of the pain management devices market, followed by Europe and Asia-Pacific. North America’s major market share is attributed to the presence of major pain management device manufacturers, advanced healthcare infrastructure, increasing healthcare expenditure, the increasing prevalence of cancer & musculoskeletal diseases, and the rising number of surgical procedures in the region.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5921

Key Questions Answered in the Report:

Which are the high-growth market segments in terms of product, portability, pain type, distribution channel, end user, and region/country?
What was the historical market size for pain management devices across the globe?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the pain management devices market?
Who are the major players operating in the pain management devices market?
What is the competitive landscape like, and who are the market leaders in the pain management devices market?
What are the recent developments in the pain management devices market?
What are the growth strategies adopted by major players in the pain management devices market?
What are the geographical trends, and which are the high-growth regions/countries?

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Redding, California - June 14, 2024

Pain Management Devices Market to be Worth $16.40 Billion by 2031

Pain Management Devices Market Size, Share, Forecast, & Trends Analysis by Product (Neurostimulation [DBS, TENS, VNS], Infusion Pump, Compression), Pain Type (Surgical, Musculoskeletal, Neuropathic, Cancer), Distribution, End User - Global Forecast to 2031

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