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Interventional Pain Management Market Size Report, Share, Revenue, and Growth Rate Forecasted to 2031 | Merz GmbH, Medtronic Plc., Boston Scientific Corporation

05-20-2024 09:32 AM CET | Health & Medicine

Press release from: Coherent Market Insights

Interventional Pain Management Market

Interventional Pain Management Market

Market Overview:

Interventional pain management includes minimally invasive procedures like epidural spinal injections, facet joint injections, sacroiliac joint injections, nerve block injections etc. to treat various causes of back, neck and other types of chronic pain. These procedures are generally performed with image guidance like fluoroscopy, ultrasound or CT scan.

Market Dynamics:

The interventional pain management market is expected to witness significant growth owing to the rising prevalence of chronic pain disorders amongst the global population. According to the National Health Interview Survey (NHIS) data published by the Centers for Disease Control and Prevention (CDC), 20.4% of U.S. adults experienced chronic pain in 2019. Chronic pain is usually associated with conditions like lower back pain, arthritis, migraine and other musculoskeletal issues. Moreover, growing geriatric population prone to orthopedic diseases is also contributing to the growing demand for interventional pain management procedures. According to the United Nations report, the population aged 60 years and above is projected to double by 2050 and triple by 2100.

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List of TOP Players in Market Report are: -

◘ Ipsen group
◘ Allergan Plc.
◘ Medytox Inc.
◘ Merz GmbH
◘ Medtronic Plc.
◘ Boston Scientific Corporation
◘ St. Jude Medical Inc.

Note: Major Players are sorted in no particular order.

Market Detailed Segmentation:

By Technique-

Pain Management Injection
Epidural Steroid Injections
Facet Joint Injections
Medial Branch Blocks
Nerve Blocks
Sacroiliac Injections
Trigger Point Injections
Others
Radiofrequency Ablation
Spinal Cord Stimulation
Others

By Application-

Back and Neck Pain
Diabetic Neuropathy
Cancer Pain
Foot and Ankle Pain
Joint Pain
Muscle Pain and Spasm
Post-Injury Pain
Shingles Pain
Others

Rising Geriatric Population Drives Demand for Pain Management Treatments

The interventional pain management market is witnessing significant growth driven by the growing geriatric population globally who are more susceptible to chronic pain conditions. Older adults often suffer from musculoskeletal disorders like osteoarthritis and back pain due to natural wear and tear of the bones and joints with increasing age. With rising life expectancy, the population aged 65 years and above is increasing rapidly all over the world. According to the UN, the number of people aged 60 years or over is expected to more than double by 2050 and reach nearly 2.1 billion from the current 962 million globally. The growing pool of elderly patients is fueling the demand for minimally invasive pain treatments to manage chronic pain without surgery.

Increasing Preference for Minimally Invasive Procedures Fuels Market Growth

Another key factor fueling the interventional pain management market growth is the increasing preference for minimally invasive procedures over oral medication and opioid therapy. Minimally invasive procedures like nerve blocks, neuroablation, and vertebroplasty offer better pain relief with fewer side effects and faster recovery times compared to oral medication and surgery. They help avoid the risks and complications associated with open surgeries while providing long-lasting pain relief. With growing awareness about the benefits of minimally invasive treatments, more patients and physicians are opting for interventional techniques for managing various chronic pain conditions. This increasing adoption is acting as a major market driver.

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Stringent Regulations on Invasive Procedures Restrict Market Growth

However, stringent regulations imposed by various regulatory authorities on interventional pain procedures are restricting market growth to some extent. Many countries have regulated the use of novel ablation techniques, neurostimulation devices, and vertebroplasty procedures until comprehensive clinical data establishes their long-term safety and efficacy. For instance, in 2013 the FDA issued warnings over the use of vertebroplasty for osteoporotic compression fractures citing insufficient evidence. Similarly, regulations have been imposed on neurostimulation devices requiring additional studies. Such stringent regulatory scenarios increase approvals timelines, compliance costs, and pricing pressures, negatively impacting the interventional pain management industry.

Rising Demand for Ambulatory Surgery Centers Creates Opportunities

The increasing trend of performing interventional pain procedures in ambulatory surgery centers (ASCs) instead of hospitals is creating new opportunities for market players. ASCs offer significant cost savings to both patients and physicians compared to inpatient hospital stays. With improving reimbursement policies, the number of ASCs is growing globally. According to a report, the number of Medicare-certified ASCs increased by 36% between 2006 to 2016 in the US alone. The shift towards performing elective, low-risk procedures like vertebral augmentation and nerve ablation in convenient, office-based settings is beneficial for both patients seeking quick recovery and stakeholders aiming to tap market opportunities. This rising demand for ASC services will continue to open new avenues for interventional pain device manufacturers and service providers.

Introduction of Neurostimulation Therapies Drives Market Evolution

One of the key trends shaping the future of interventional pain management is the rising adoption of neurostimulation therapies driven by ongoing technological advancements. Neurostimulation techniques like spinal cord stimulation and peripheral nerve stimulation are gaining acceptance for managing chronic pain conditions that do not respond well to medication. Industry players are constantly coming up with improved neurostimulation systems with features like smaller size, rechargeability, bidirectional communications, and closed-loop feedback. Introduction of novel techniques like dorsal root ganglion stimulation and high-frequency spinal cord stimulation is also extending treatment options. The evolution of neurostimulation therapies from traditional TENS and ENS to advanced targeted neuromodulation is poised to revolutionize interventional pain management in the coming years.

Furthermore, the years considered for the study are as follows:

Historical data - 2016-2022
The base year for estimation - is 2022
Estimated Year - 2024
Forecast period** - 2024 to 2031

This Interventional Pain Management Market Research/Analysis Report Contains Answers to your following Questions:

◈What are the current global trends in the Interventional Pain Management market, and will the market experience an increase or decrease in demand in the upcoming years?

◈ What is the expected demand for various product types within the Interventional Pain Management market, and what are the emerging Market applications and trends?

◈ What are the projections for the global Interventional Pain Management Market in terms of capacity, production, production value, cost, profit, market share, supply, consumption, import, and export?

◈ How will strategic developments shape the Market trajectory in the medium to long term?

◈ What factors contribute to the final price of Interventional Pain Management , and what are the raw materials used in its manufacturing?

◈ What is the market's growth potential, particularly with the increasing adoption of Interventional Pain Management in mining?

◈ What is the current and 2022 value of the global market, and who are the leading companies in this market?

◈ What recent Market trends can be leveraged to create additional revenue streams?

◈ What entry strategies, economic impact mitigation measures, and marketing channels should be considered for the Interventional Pain Management Market?

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Summarized Extracts from TOC of Market Study

Chapter 1 Interventional Pain Management Introduction and Market Overview

1.1 Objectives of the Study

1.2 Overview of Interventional Pain Management

1.3 Scope of The Study

1.3.1 Key Market Segments

1.3.2 Players Covered

1.3.3 COVID-19's impact on the Interventional Pain Management industry

1.4 Methodology of The Study

1.5 Research Data Source

Chapter 2 Executive Summary

Chapter 3 Industry Chain Analysis

Chapter 4 Market, by Type

Chapter 5 Market, by Application

Chapter 6 Market Analysis by Regions

Chapter 7 North America Market Analysis by Countries

Chapter 8 Europe Interventional Pain Management Market Analysis by Countries

Chapter 9 Asia Pacific Interventional Pain Management Market Analysis by Countries

Chapter 10 Middle East and Africa Interventional Pain Management Market Analysis by Countries

Chapter 11 South America Interventional Pain Management Market Analysis by Countries

Chapter 12 Competitive Landscape

Chapter 13 Industry Outlook

Chapter 14 Market Forecast

Chapter 15 New Project Feasibility Analysis

Contact Us

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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