The global pain management devices market size was estimated to USD 3,250 million in 2018 and expected to grow at a CAGR 7.1% during the forecast period. The market growth is attribute to the growing prevalence of the chronic medical conditions across the globe and increasing geriatric population worldwide. Furthermore, development of the technologically advanced pain management devices, supportive reimbursement policies and stringent government regulations to limit opioid pain killer prescriptions are also some of the major factors that are estimated to have significant impact on the growth of the market.
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Growing geriatric population and high prevalence of related issue is a major growth factor for the market. According to WHO, in the year 2015, the elderly (65+) population across the globe was estimated to be around 900 million, up from 524 million in the year 2010. It is further estimated to reach 1.5 billion by the year 2050. Aging is major factor in pain related issues specially in cases of common occurring age-related ailments. Arthritis, osteoporosis, hypertension, diabetes and obesity are some of the most common ailments in elderly.
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However, there are certain factors that are hampering the market growth. Presence of the alternative therapies and medications for pain management, high cost of pain management devices and lack of awareness are the major constraints in the growth of the market. Apart from these restraints, increasing prevalence of the neuropathic pain and strong product pipeline for pain management devices are estimated to develop myriad growth opportunities for the growth of the market.
Global Pain Management Devices Market segmentation
By applications
Cancer pain
Neuropathic pain
Musculoskeletal pain
Facial and migraine pain
Trauma
By types
Analgesic pain
Intrathecal pain
External pumps
Radiofrequency ablation devices
Electrical stimulators
Tens
Neurostimulators
Spinal cord stimulators
Sacral nerve stimulators
Deep brain stimulators
Competitive landscape
Market share analysis
Key company analysis
Regional analysis
North america
United states
Canada
Rest of north america
Europe
United kingdom
France
Germany
Italy
Spain
Rest of europe
Asia pacific
India
China
Japan
Rest of the world
Company profiles
B braun melsungen ag
Baxter international inc.
Becton dickinson and company
Biomedical research ltd.
Boston scientific corporation
Codman and shurtleff inc.
Djo global llc
Halyard health inc.
Hospira inc.
Kimberly-clark corporation
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