Pain is related to clinical, social, and economic burden communities across the world, whereas chronic pain is associated with various health conditions. Therefore, the increasing prevalence of pain pushes the demand for advanced diagnosis and treatment. Pain management offers a 360-degree view of the activities being carried out on various pain conditions. Activities such as pain therapy, medicinal therapy, physiotherapy, exercise, and more come under the preview of the pain management system. The changing healthcare sector has encouraged the pain management market to a great extent.
The global pain management market is set to inflate positively at a CAGR of 6.0% during the forecast period (2018–2023).
A number of factors such as improved reimbursement policies in developed countries, increasing prevalence of cancer pain, improving regulatory framework, growing research funding, unmet medical needs, rising competition among market players, and increasing government assistance are propelling the growth of the global pain management market.
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Key Players
Some of the key players in the global pain management market are Abbott Laboratories, Abbvie, Allergan, Astellas Pharma, AstraZeneca plc, Bayer AG, Codman And Shurtleff, Inc, DJO Global LLC, Eli Lilly & Company, Endo Health Solutions, F. Hoffmann-La Roche Ltd, Forest Laboratories, GlaxoSmithKline plc, Johnson & Johnson Services, Inc., Mallinckrodt plc, Medtronic PLC, ST. Jude Medical, Inc., Boston Scientific Corporation, Pfizer Inc., Halyard Health, Inc., Smiths Medical, B. Braun Melsungen AG, Neurotech Na, Inc., Becton, Dickinson and Company, Nevro Corp., Merck & Co. Inc., Novartis AG, Purdue Pharma LP, Sanofi, Stryker Corporation, Teva Pharmaceuticals, and others.
Market Segmentation
The segmentation of the global pain management market is carried out on the basis of the type of pain management devices, type of pain management drugs, indication, mode of purchase, and end-user.
By type of pain management devices: neurostimulation devices, analgesic infusion pumps, and ablation devices are the segments, out of which neurostimulation devices are further segmented into Transcutaneous Electrical Nerve Stimulation (TENS) devices and Spinal Cord Stimulation (SCS) devices. Ablation devices are also segmented into RF ablation devices and cryoablation devices.
By type of pain management drugs: Non-Steroidal Anti-Inflammatory Drugs (NSAIDS), anticonvulsants, anesthetics, opioids, antimigraine agents, antidepressants, and others are the segments. Among them, the opioids segment is also classified as oxycodone, hydrocodone, tramadol, morphine, codeine, fentanyl, meperidine, methadone, and others.
By indication: neuropathic pain, cancer pain, facial pain and migraine, musculoskeletal pain, fibromyalgia, chronic back pain, arthritic pain, migraine, post-operative pain, and others are the segments.
By mode of purchase: counter and prescription-based are the segments.
By end-user: hospitals and clinics, pharmaceutical companies, medical device companies, research and academic institutes, and others are the segments.
Intended Audience
- Pharmaceutical Companies
- Medical Devices Companies
- Research and Development (R&D) Companies
- Government Research Institutes
- Academic Institutes and Universities
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Regional Market Outlook
The Americas leads in the pain management market due to the growing occurrence of chronic pain, well-developed technology, high healthcare expenditure, and the existence of leading players. Moreover, these conditions are more found in women than men, which states 34.3% in women and 26.7% in men in the United States.
Europe owes to be in the second position in the market pf pain management with an increasing contribution towards research and development as well as swelling competition among marketers are likely to drive the European pain management market profoundly.
Whereas, the Asia Pacific is considered to be the fastest growing pain management market due to the vast patient pool, increasing demand for treatments, and rising healthcare expenditure. Lastly, the Middle East and Africa have the lowest share of the global pain management market owing to diminutive development, lack of technical knowledge, and inadequate medical facilities.
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