The global pain management therapy market size is expected to be USD 4.1 billion in 2021 and reach USD 6.6 billion by 2027, registering a CAGR of 8.5% from 2021 to 2027. Pain refers to a disturbing sensory and emotional sensation resulting from tissue damage or disease. Several disorders cause discomforts, such as multiple sclerosis, stomach ulcer, chronic arthritis, osteoarthritis, diabetic neuropathy, fibromyalgia, and cancer. The length of pain may range from acute pain for the short term to chronic pain for a long time. Acute pain can be mild and lasts for only a moment or for weeks or months. Chronic pain is caused by aged bone and joint conditions, nerve damage, or even injury. Various drugs are utilized to manage pain that results from inflammation in response to tissue damage, chemical agents/pathogens (nociceptive pain), or nerve damage (neuropathic pain). The rise in the rate of the senior population is one of the major factors driving the pain management therapy market, as aged people are more prone to suffer from joint pain and other chronic conditions. The increasing incidences of chronic diseases such as cancer, diabetic neuropathy, and osteoarthritis and the rise in surgical procedures further accelerate the growth of pain management therapy.
A number of factors, such as the growing demand for long-term pain management therapy among the geriatric population, large patient population base, adverse effects of pain medications, development of novel pain management therapy device, established reimbursement scenario for spinal cord stimulation (SCS) devices in developed countries, and high proven efficacy of pain management therapy device for the treatment of chronic pain are driving the growth of the global market. On the other hand, factors such as low awareness regarding the availability and use of pain management therapy devices, shortage of pain specialists, low number of pain clinics in several countries, the existence of a gap in prevalence and treatment of chronic pain, and high procedural and purchase cost of pain management therapy device are restraining the growth of the global market.
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Pain management devices manage chronic and acute pain in patients suffering from various conditions, such as cancer, neurological disorders, and musculoskeletal disorders. These devices restore the ability of patients to do everyday activities, decrease the need for oral pain medications, and improve the quality of life of patients suffering from these conditions.
Global Pain Management Therapy Market Dynamics
The rise in the geriatric population is the primary factor that drives the growth of the global pain management drugs market, as aged people are more prone to suffer from joint pain and other chronic conditions. Moreover, the surge in prevalence of chronic diseases, such as cancer, diabetic neuropathy, and osteoarthritis, propels the market growth. Furthermore, the rise in the number of surgical procedures and the increase in healthcare expenditure is expected to fuel the growth of the pain management drugs market. However, drug exploitation, patent expiration of prescription pain medication drugs, and availability of substitutes such as pain relief devices restrain the market growth.
The global incidence of cancer is high. Moreover, as per a 2018 report by Cancer Research UK, the global incidence of cancer was expected to increase from 17 million new cases in 2018 to more than 27 million new cases by 2040. Also, as per the Globocan 2020 report, the incidence of new cancer cases accounted for 19,292,789 globally and 9,958,133 deaths due to cancer in 2020. Thus, the high incidence of cancers worldwide may increase the demand for cancer therapies, which, in turn, is likely to increase the demand for cancer pain management drugs and devices. Therefore, this is expected to boost market growth.
Scope of the Report
The study categorizes the pain management therapy market based on devices, applications, drugs, and regions.
By Devices Type Outlook (Sales/Consumption, 2017-2027, USD Million)
- Neuromodulation Devices
- Transcutaneous Electrical Nerve Stimulation (TENS) Devices
- Spinal Cord Stimulation (SCS) Devices
- Ablation Devices
- Radiofrequency Ablation Devices
- Cryoablation Devices
- Analgesic Infusion Pumps
- Intrathecal Infusion Pumps
- External Infusion Pumps
By Application Outlook (Sales/Consumption, 2017-2027, USD Million)
- Neuropathic Pain
- Cancer Pain
- Facial Pain and Migraine
- Musculoskeletal Pain
- Others (Pregnancy/Labor and Menstrual Pain, Sports Injuries, Post-operative Pain, and Trauma Pain)
By Drugs Type Outlook (Sales/Consumption, 2017-2027, USD Million)
- NSAIDs
- Anesthetics
- Anticonvulsants
- Anti-migraine Agents
- Antidepressants
- Opioids
- Nonnarcotic Analgesics
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By Region Outlook (Sales/Consumption, 2017-2027, USD Million)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The neurostimulation devices segment is projected to account for the largest market share by device type
Based on device type, the pain management equipment market is categorized into neurostimulation devices, ablation devices, and analgesic infusion pumps. The neurostimulation devices segment is expected to account for the largest share of the market. Neurostimulation devices are implantable, programmable medical devices that deliver electrical stimulation to specific parts of the patient’s brain, spinal cord, or peripheral nervous system to help treat various conditions, including chronic pain, movement disorders, epilepsy, and Parkinson’s disease. The rise in prevalence of lifestyle diseases such as depression and chronic pain, increase in the number of neurological disorders, and investment for neurological R&D drive the growth of the global neurostimulation devices market. Moreover, the rise in demand for minimally invasive surgery, adoption of technologically advanced products, and surge in the aging population also propel the market’s growth as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. However, side effects such as allergic reaction and tingling or prickling of the skin due to implantation of neurostimulation device into the body and increase in the cost of devices are expected to restrain the market’s growth. Furthermore, the availability of other treatment options such as drug therapies and surgeries restricts the market growth.
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Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global pain management therapy market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR in the global pain management therapy market during the forecast period. The region includes the countries such as China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia-Pacific. The growth of the region is primarily due to strong economic growth in the domestic emerging countries such as China, Indonesia, Malaysia, and India.
The Asia-Pacific region offers lucrative opportunities to the players in the neurostimulator market, as it is anticipated to be the fastest-growing market. Government and private initiatives to increase awareness regarding mental health and increase the incidence of neurological disorders drive the market growth. Factors such as improving healthcare infrastructure, rising healthcare reforms, and growing healthcare expenditures in the emerging markets such as India and China to overcome the unmet medical needs in these regions boost the demand for neurostimulators.
Key Market Players
The global pain management therapy market is highly competitive and consists of several major players. The existing major players in the pain management therapy market employ strong competitive strategies, leading to high rivalry. Some of the key players in the market are Abbott Laboratories, AstraZeneca PLC, Baxter International Inc., Becton, Dickinson and Company, and Boston Scientific Corporation, among others. Product advancements and improvements in durable medical equipment by significant players are stiffening the competitive rivalry in the market.
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