Pain Management Market (By Mode Of Pain Management: Drugs [Opioids, Non-narcotic Analgesics], Devices [Neurostimulation Devices, Analgesic Infusion Pumps]; By Application: Neuropathic Pain, Cancer Pain, Facial Pain And Migraine, Musculoskeletal Pain, Other Applications) - Global Industry Analysis, Market Size, Opportunities and Forecast 2020 - 2027

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Published | Pages : 190

The global pain management market is anticipated to grow at a CAGR of around 6.5% during the forecast period 2020 to 2027 and to reach around US$ 65.8 Bn by 2027.

Market Dynamics

Gradual increase in number of patients suffering from chronic cancer and diabetes, coupled with high government spending on hospital infrastructure in order to provide enhanced care are major factors expected to drive the growth of global market. According to U.S. Department of Health & Human Services in 2016, an estimated 20.4% of U.S. adults (50.0 million) had chronic pain and 8.0% of U.S. adults (19.6 million) had high-impact chronic pain.

Increasing investment by major players for R&D activities, and approach towards introduction of smart devices are factors responsible for the growth of target market. In addition, strategic merger and acquisition activities by major players in order to enhance the business presence are factors expected to augment the growth of target market.

In 2018, NeuroPace a global operating company that designs, develops, manufactures and market implantable devices for the treatment of neurological disorders launched RNS system for treatment of refractory epilepsy. This is expected to help the company to enhance the customer base.

In 2019, Boston Scientific Corp. engages launched Spectra WaveWriter™ Spinal Cord Stimulator System for treatment of chronic pain and simultaneously combine paresthesia-based and sub-perception therapy in Europe. This is expected to help the company to strengthen its position in Europe.

In 2019, NeuroPace, Inc. launched Senza® Omnia™ Spinal Cord Stimulation System in the US for the treatment of chronic pain. This is expected to help the company to enhance the product portfolio and enhance the profit ratio.

In 2018, Abbott a multinational medical devices and health care company signed an agreement with National Institutes of Health (NIH), US in order to provide neuromodulation technologies, including directional DBS, SCS, and DRG therapy, for NIH research and further explore the applications.

Favorable business policies and emergence of small and mid-size enterprises with advanced solutions are factors expected to support the growth of target market. In addition, players focus on tracking the untapped market in developing countries is expected to support the growth of target market.

However, factors such as high cost of devices and stringent government regulations related to product approval are expected to hamper the growth of global pain management market. In addition, lack of advanced infrastructure in developing countries for adoption of advanced devices is expected to challenge the growth of target market.

Rapid technological advancements by major players, integration of AI in devices coupled with introduction of innovative solutions are factors responsible to create new opportunities for players operating in the target market over the forecast period. In addition, increasing partnership and agreements between regional and international players is expected to support the revenue growth of target market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to availability of enhanced pain care management, increasing number of patients suffering from chronic diseases and availability of favorable insurance policies. Presence of large number of players operating in the country and approach towards introduction of innovative solutions are factors expected to boost the growth of target market.

Competitive Landscape                                                                                 

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market

Global Pain Management Market

Analysis Period

2016 – 2027

Base Year

2019

Forecast Data

2020 – 2027

Market Stratification

Mode of Pain Management, Application and Geography

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Report Coverage

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis


Pain Management Market Segment Analysis, 2019

The global market is segmented into mode of pain management and application. The mode of pain management segment is bifurcated into drugs and devices. Among the mode of pain management, the drugs segment is expected to account for major revenue share due to increasing investment for drug discovery and introduction of innovative solutions.

The application segment is divided into neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain and others. Among application the neuropathic pain segment is expected to account for significant revenue share due to integration of AI in healthcare and introduction of innovative devices from major players.

The players profiled in the report are Abbott Laboratories, AstraZeneca PLC, Baxter International Inc., Becton, Dickinson and Company, Boston Scientific Corporation, Fresenius SE & Co. KGaA, GlaxoSmithKline PLC, Johnson & Johnson, Medtronic PLC, Novartis International AG, and Pfizer Inc.

Market Segmentation

Market By Mode Of Pain Management

Drugs

  • Opioids
  • Non-narcotic Analgesics
      • NSAIDS
      • Anesthetics
      • Anticonvulsants
      • Anti-depressants
      • Other Non-narcotic Analgesics

Devices

  • Neurostimulation Devices
        • Transcutaneous Electrical Nerve Stimulation (TENS) Devices
        • Brain and Spinal Cord Stimulation (SCS) Devices

  • Analgesic Infusion Pumps
        • Intrathecal Infusion Pumps
        • External Infusion Pumps

Market By Application

Neuropathic Pain

Cancer Pain

Facial Pain and Migraine

Musculoskeletal Pain

Other Applications

Market By Region

North America

  • U.S.
  • Canada

Europe

  • U.K.
  • Germany
  • France
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific

Latin America

  • Brazil
  • Mexico
  • Rest of Latin America

Middle East & Africa

  • GCC
  • South Africa
  • Rest of Middle East & Africa


Frequently Asked Questions

The global pain management market in 2027 is expected to be above US$ 65.8 Bn.

The CAGR of the global pain management market from 2020-2027 is above 6.5%.

Gradual increase in number of patients suffering from chronic cancer and diabetes, coupled with high government spending on hospital infrastructure in order to provide enhanced care are major factors expected to drive the growth of global market.

In application the neuropathic pain segment is growing at faster pace.

In the global market the Asia Pacific region is expected to grow faster.

Some of the players considered in the report scope are GlaxoSmithKline PLC, Johnson & Johnson, Medtronic PLC, Novartis International AG, and Pfizer Inc.

The North America is expected to account for major revenue share in the global market.

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