Pain Management Devices Market : Industrial Trends and Drivers will boost NextGen Technology Advancement and Application 2015 - 2023

Pain management devices comprise various therapeutic products used to relieve pain. These devices are advantageous for long-term treatment of pain, especially for chronic conditions such as cancer and arthritis. Pain can be controlled with the use of electrical currents, analgesic pumps, radiofrequency ablation or minimally invasive procedures such as neurostimulation. Key elements such as increasing geriatric population, escalating prevalence of chronic medical conditions, introduction of novel technologies are driving the growth of the global pain management devices market. However, certain factors such as risks associated with implant procedures, and implementation of Affordable Care Act might pull back the growth of pain management devices market.

Based on device type, the global pain management devices market has been segmented into electrical stimulation devices (ESDs), radiofrequency ablation devices, analgesic infusion pumps, neurostimulation devices. ESDs are further segmented into transcutaneous electrical nerve stimulation (TENS) devices, neuromuscular electrical stimulation (NMES/EMS) devices, and other electrical stimulation devices (electrotherapy devices, combination devices, TNS, TMS, etc.). Analgesic infusion pumps are further segmented into intrathecal infusion pumps and external infusion pumps. Similarly, neurostimulation devices are categorized into spinal cord stimulation (SCS) devices, deep brain stimulation devices, vagus nerve stimulation devices, and sacral nerve stimulation devices. Neurostimulation devices segment dominated the market in 2014 due to increasing number of DBS and SCS devices implantation in patients suffering from chronic pain of limbs or trunk, which includes pain associated with lower back, or legs, post-back surgery syndrome, increasing base of patients suffering from neuropathic pain. However, the vagus nerve stimulation (VNS) devices segment is expected to grow at the fastest CAGR of over 8% during the forecast period.

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The application segment in the pain management devices market has been categorized by the application areas of various devices. Thus, the electrical stimulation devices market is segmented into neuropathic pain, cancer pain, facial & migraine pain, musculoskeletal pain, and trauma. Neurostimulation devices market is segmented neuropathic pain, cancer pain, facial & migraine pain, and musculoskeletal pain. Analgesic infusion pumps market is segmented into neuropathic pain, cancer pain, musculoskeletal pain, and trauma. Similarly, by application areas, radiofrequency ablation devices market is segmented into neuropathic pain, cancer pain, and musculoskeletal pain. The musculoskeletal pain and neuropathic pain application sub-segments dominated the individual product segments. For example, the musculoskeletal pain application sub-segment of the electrical stimulation devices segment is projected to expand at a high CAGR of over 7% during the forecast period.

Geographically, North America accounted for the largest share of the global pain management devices market in 2014. Elements attributed to the dominant position of North America in pain management devices market are rising incidence of pain indications among geriatric population, increasing number of sports related injuries, neuromuscular disease, and other co-morbid conditions, growing prevalence of lifestyle-related diseases, and increased access to health care. However, Asia Pacific is projected to witness the fastest and highest growth during the forecast period. Key elements such as rising disposable income among population in various emerging countries, phenomenally increasing base of aging patient population, and higher demand for technologically advanced medical products would heighten the growth of pain management devices market in Asia Pacific. Among all the countries, Japan is the major market for pain management devices in Asia Pacific. Factors such as large population of disabled people, large geriatric population, increase in chronic illnesses, and significant rise in health care spending would boost the growth of the pain management market in Japan.

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The global pain management devices market is highly dynamic and competitive. The major companies currently operating in the pain management devices market are Baxter International Inc., Bio-Medical Research (BMR) Ltd., Boston Scientific Corporation, Codman & Shurtleff, Inc., DJO Global, Inc., Halyard Health, Hospira, Inc., Medtronic plc, St. Jude Medical, Smiths Medical, and Stryker Corporation. Superior distribution channels, easy commercial availability of products, and ample supply competencies are the other key factors that play an important role in determining the market position of these players.

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