Pain Management Devices Market by Type Neuromodulator and Neurostimulation Devices, Cancer Pain, Facial and Migraine Pain and Others Global Opportunity Analysis and Industry Forecast

 

Pain Management Devices Market 

    

Implantable devices are among the more technologically advanced pain management treatment methods that are most commonly used for patients suffering from severe, sometimes intractable, pain that has not responded to more conventional therapies or treatments. Pain management with a device refers to hospital treatment for the implantation, replacement, or other surgical management of a pain-relieving device. Treatment of nerve pain and chest pain caused by coronary heart disease, for example, using a device such as an infusion pump or neurostimulator). This treatment is not covered by Bronze+ Hospital, Basic+Hospital, or Bronze+ Young Choice insurance plans.

The global Pain Management Devices Market was valued at US$ 5,745.0 Mn in 2019 and is forecast to reach a value of US$ 17,004.2 Mn by 2027 at a CAGR of 14.7% between 2020 and 2027.

The global pain management devices market is growing due to an increase in the geriatric population, an increase in the prevalence of chronic pain, an increase in the geriatric population, an increase in people's awareness of pain management devices, increased R&D investment to develop innovative products, and the launch of innovative products. In addition, rising demand for pain management devices in developing countries, as well as increased adoption of pain management devices for chronic pain management, are driving the market growth. Furthermore, developing economies' untapped potential presents lucrative opportunities for market expansion during the forecast period. However, hypersensitivity reactions and postoperative infections caused by the use of these devices limit their adoption, stifling market growth. Furthermore, these devices are typically used as a second line of treatment in patients with chronic pain who develop resistance to drug therapy, limiting the global pain management devices market's growth. The pain management devices market is divided into three product categories: neuromodulator & neurostimulation devices, analgesic infusion pumps, and ablation devices. The market is further subdivided into spinal cord stimulators and transcutaneous electrical nerve stimulation (TENS) devices under the neuromodulator & neurostimulation devices segment. The pain management devices market is further subdivided into external infusion pumps and intrathecal infusion pumps under analgesic infusion pumps. Neuromodulator and neurostimulation devices currently dominate the global market, and this trend is expected to continue over the forecast period, owing to an increase in demand for these devices, cost efficiency offered by these devices, and an increase in the target population.