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Pain Management Devices Market 2021 Global Scope by Device Type (Neurostimulation, SCS, TENS, RF Ablation, Infusion Pumps), Application (Cancer, Neuropathy, Musculoskeletal, Migraine, Facial), by Mode of Purchase (OTC, Prescription-Based)

07-12-2021 12:30 PM CET | Health & Medicine

Press release from: ReportsnReports

Pain Management Devices Market report has been structured after a thorough study of various key market segments like market size, latest trends, market threats, and key drivers which drive the market. This market study report has been prepared with the use of an in-depth qualitative analysis of the global market. The report displays a fresh market research study that explores several significant facets related to Pain Management Devices Market covering industry environment, segmentation analysis, and competitive landscape. This global market research report is a proven source to gain valuable market insights and take better decisions about important business strategies.

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Growth in this market is primarily driven by factors such as the presence of a large patient population base and adverse effects associated with the use of pain medications. However, factors such as low awareness regarding the availability and use of pain management devices, shortage of pain specialists, and low number of pain clinics in several countries are restraining the growth of this market.

The global pain management devices market has been segmented on the basis of type (neurostimulation devices, ablation devices, and analgesic infusion pumps), applications(neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, and others), mode of purchase (over-the-counter and prescription-based pain management devices), and region (North America, Europe, Asia-Pacific, and Rest of the World).

The neurostimulation devices market is estimated to witness the highest growth and account for the largest share of the global pain management devices market, by type, in 2016. Geographically, North America is expected to command the largest share of the global pain management devices market in 2016, followed by Europe. The growth in the North American market is primarily driven by various factors, including the presence of an established government reimbursement scenario for SCS devices and a large number of ongoing clinical trials in this region.

As of 2015, the global pain management devices market was dominated by Medtronic plc (Ireland), St. Jude Medical, Inc. (U.S.), and Boston Scientific Corporation (U.S.), which together accounted for more than 50% of the market. New product launches, partnerships, agreements, and collaborations are the major strategies adopted by market players to strengthen their presence and increase their share in the pain management devices market.

Reasons to Buy the Report:

From an insight perspective, this research report focuses on various levels of analysis—industry analysis, market share analysis of top ten players, and detailed company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth market segments, high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market share.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information of pain management devices offered by the top 10 market players. The report analyzes the pain management devices market by type of product, mode of purchase, and application across geographies

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the pain management devices market

Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various ablation devices across geographies

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the pain management devices market

Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the pain management devices market.

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Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Markets Covered
1.4.1 Years Considered for the Study
1.5 Currency
1.6 Stakeholders

2 Research Methodology
2.1 Research Methodology Steps
2.2 Secondary and Primary Research Methodology
2.2.1 Secondary Research
2.2.1.1 Key Data From Secondary Sources
2.2.1.2 Primary Research
2.2.1.3 Key Data From Primary Sources
2.3 Market Size Estimation Methodology
2.3.1 Research Methodology: Bottom-Up Approach
2.3.2 Research Methodology: Top-Down Approach
2.4 Research Design
2.5 Market Data Validation and Triangulation
2.6 Assumptions for the Study
2.7 Limitations

3 Executive Summary
3.1 Introduction
3.2 Conclusion

4 Premium Insights
4.1 Global Pain Management Devices Market Overview (2016–2021)
4.2 Geographical Snapshot of the Global Market
4.3 Global Market, By Application and Region (2016)
4.4 Global Market, By Mode of Purchase and Region (2016 vs 2021)

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Growing Demand for Long-Term Pain Management Among the Geriatric Population
5.3.1.2 Large Patient Population Base
5.3.1.3 Adverse Effects of Pain Medications
5.3.1.4 High Proven Efficacy of Pain Management Devices for the Treatment of Chronic Pain
5.3.1.5 Established Reimbursement Scenario for Spinal Cord Stimulation (SCS) Devices in Developed Countries
5.3.1.6 Development of Novel Pain Management Devices
5.3.2 Restraints
5.3.2.1 Low Awareness About the Availability and Use of Pain Management Devices
5.3.2.2 Shortage of Pain Specialists and Low Number of Pain Clinics in Several Countries
5.3.2.3 Existence of A Gap in Prevalence and Treatment of Pain
5.3.2.4 High Procedural and Purchase Cost of Pain Management Devices
5.3.3 Opportunities
5.3.3.1 Increasing Number of Patients Suffering From Neuropathic Pain
5.3.3.2 Expanding Base of Pain Management Clinics/Centers Across the Globe
5.3.3.3 Strong Product Pipeline for Pain Management Devices
5.3.3.4 Stringent Regulations to Limit Opioid Pain Killer Prescriptions
5.3.4 Challenges
5.3.4.1 Presence of Alternative Therapies for Pain Management
5.3.4.2 Use of Pain Medications as the First Line of Treatment for Pain Management
5.3.4.3 Stringent Regulatory Guidelines Delay the Adoption of Novel Devices

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Wearable Devices
6.2.2 Consolidation in the Pain Management Devices Market
6.2.3 Rising Popularity of Rechargeable Spinal Cord Stimulators
6.3 Porter’s Five Forces Analysis
6.3.1 Threat of New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Suppliers
6.3.4 Bargaining Power of Buyers
6.3.5 Intensity of Competitive Rivalry

7 Global Pain Management Devices Market, By Type
7.1 Introduction
7.2 Neurostimulation Devices
7.2.1 Transcutaneous Electrical Nerve Stimulation (TENS) Devices
7.2.1.1 Introduction of Advanced & Wearable TENS Devices
7.2.2 Spinal Cord Stimulation (SCS) Devices
7.2.2.1 Cost Benefits of SCS Over Other Therapies
7.3 Analgesic Infusion Pumps
7.3.1 High Use of Infusion Pumps in Post-Operative Pain Management
7.3.2 Intrathecal Infusion Pumps
7.3.3 External Infusion Pumps
7.4 Ablation Devices
7.4.1 RF Ablation Devices
7.4.2 Cryoablation Devices

8 Global Pain Management Devices Market, By Application
8.1 Introduction
8.2 Neuropathic Pain
8.2.1 High Prevalence of Diseases Associated With Neuropathic Pain
8.3 Cancer Pain
8.4 Facial Pain & Migraine
8.5 Musculoskeletal Pain
8.6 Other Applications

9 Global Pain Management Devices Market, By Mode of Purchase
9.1 Introduction
9.2 Over-The-Counter Pain Management Devices
9.2.1 Otc Pain Management Devices Unfold New Growth Avenues
9.3 Prescription-Based Pain Management Devices

10 Pain Management Devices Market, By Region
10.1 Introduction
10.2 North America
10.2.1 U.S.
10.2.1.1 Rising Geriatric Population in the U.S.
10.2.1.2 Rising Patient Population Base
10.2.1.3 High Demand of Pain Management Devices for the Treatment of Post-Operative Pain
10.2.1.4 Large Number of Ongoing Clinical Trials
10.2.1.5 Favorable Reimbursement Scenario for SCS
10.2.1.6 Stringent Regulatory Policies
10.2.1.7 Lack of Reimbursement for TENS in the U.S.
10.2.2 Canada
10.2.2.1 Reduced Healthcare Spending
10.2.2.2 Rising Prevalence of Chronic Disorders
10.3 Europe
10.3.1 Rising Aging Population in Europe
10.3.2 Huge Patient Population Base
10.3.3 Conferences to Increase Awareness of Pain Management Devices in the European Market
10.3.4 New Product Launches and Product Approvals
10.3.5 Organization of Campaigns to Raise Awareness About Pain Management Approaches
10.3.6 Slow Economic Growth in Europe
10.3.7 Changing Regulatory Policies
10.3.8 Limited Awareness of New Pain Management Approaches
10.3.9 Germany
10.3.9.1 Large Number of Ongoing Clinical Trials
10.3.9.2 Rising Aging Population and Cancer Incidence
10.3.9.3 Favorable Healthcare Reimbursement Scenario
10.3.10 France
10.3.10.1 Rising Adoption of Pain Management Devices Due to Increased Patient Population
10.3.10.2 Availability of Proper Healthcare Facilities, Training, and Reimbursement for Pain Management Therapies
10.3.11 U.K.
10.3.11.1 Large Patient Population Base
10.3.11.2 Rising Healthcare Expenditure
10.3.11.3 Presence of Noteworthy Number of Organizations Related to Pain Management
10.3.11.4 Availability of Funding for Research in Pain Management
10.3.11.5 Government Recommendations Encouraging Use of SCS
10.3.11.6 Safety Issues Related to Infusion Pumps
10.3.11.7 Low Penetration of Pain Management Devices in the Country
10.3.12 RoE
10.3.12.1 Growing Patient Population
10.3.12.2 Rapidly Increasing Aging Population in the Region
10.3.12.3 Growing Preference Towards Home Use Pain Management Devices
10.3.12.4 Key Factors Hampering Market Growth
10.4 Asia-Pacific
10.4.1 Large Patient Population With Cancer, Diabetes, and Chronic Pain
10.4.2 Improving Healthcare Infrastructure in Asian Countries
10.4.3 Japan
10.4.3.1 Growing Patient Base
10.4.3.2 Increase in the Baby Boomer Population
10.4.3.3 Well-Developed Healthcare System
10.4.3.4 Inflow of Advanced Pain Management Devices
10.4.3.5 Rising Government Focus Towards the Development of the Medical Devices Industry
10.4.3.6 Pricing and Reimbursement Challenges for Foreign Suppliers
10.4.4 China
10.4.4.1 Growing Diabetic Population
10.4.4.2 Increasing Disposable Income and Healthcare Spending
10.4.4.3 Extensive Use of Traditional Chinese Medicine (TCM) for Alleviating Pain
10.4.4.4 Uncertain and Changing Regulatory Environment
10.4.5 India
10.4.5.1 Huge Addressable Market
10.4.5.2 Growing Number of Pain Management Centers
10.4.5.3 Rising Focus of Global Players
10.4.5.4 Growing Demand for Pain Management Devices
10.4.5.5 Conferences and Meetings on Neuromodulation & Pain Management in India
10.4.5.6 Rising Government Support
10.4.5.7 High Dependence of Patients on Low-Cost Generic Medicine
10.4.5.8 Key Factors Limiting the Growth of the Indian Market
10.4.6 Rest of Asia-Pacific
10.4.6.1 South Korea Presents Significant Opportunities for Pain Management Devices in Asia
10.4.6.2 Large Number of Conferences in Australia
10.4.6.3 Ongoing Product Innovations in Singapore & Australia
10.5 Rest of the World
10.5.1 Increasing Incidences of Cancer in Latin America
10.5.2 Aging Population
10.5.3 Strict Regulations on Medical Devices in Brazil

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.2.1 Key Players in the Market
11.3 Competitive Situation and Trends
11.3.1 New Product Launches and Product Approvals
11.3.2 Agreements, Alliances, and Contracts
11.3.3 Geographical Expansions
11.3.4 Mergers & Acquisitions
11.3.5 Other Developments

12 Company Profiles
(Overview, Financial*, Products & Services, Strategy, and Developments)
12.1 Introduction
12.2 Medtronic PLC
12.3 ST. Jude Medical, Inc.
12.4 Boston Scientific Corporation
12.5 Hospira, Inc. (A Subsidiary of Pfizer Inc.)
12.6 Halyard Health, Inc.
12.7 Smiths Medical
12.8 B. Braun Melsungen AG
12.9 Neurotech Na, Inc. (A Subsidiary of Theragen LLC)
12.10 Becton, Dickinson and Company
12.11 Nevro Corp.

*Details Might Not Be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Discussion Guide
13.2 Introducing Rt: Real-Time Market Intelligence
13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
13.4 Available Customizations
13.5 Related Reports

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