SEATTLE, March 10, 2021, (MEDGADGET) — Interventional pain management is a technique of pain management with special procedures for spinal cord stimulation and pain management injections. These procedures are provided by trained anesthesiologists at pain management clinics or centers and are widely used in the treatment of various types of pain, which include back and neck pain, diabetic neuropathy, cancer pain, foot and ankle pain, and joint pain.
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Market Drivers
The growing prevalence of chronic pain is projected to increase the demand for interventional pain management techniques for its treatment, hence fueling interventional pain management market growth in the near future. For instance, according to a study published by the National Centre for Biotechnology Information (NCBI) in 2015, around 19.6% of the individuals aged between 20 to 60 years were suffering from low back pain worldwide.
According to a study published by the Centers for Disease Control and Prevention (CDC) in 2012, around 20.3% of the population in the U.S. suffer from lower back pain. As per the report of the American Academy of Pain Medicine (AAPM) 2012, over 100 million people suffer from chronic pain, 25.8 million from diabetes, 16.3 million from coronary heart disease, and 11.9 million from cancer in the U.S. every year, which is expected to further increase in the near future. Moreover, in 2015, the National Institutes of Health (NIH) estimated that one in 10 people in the U.S. suffers from chronic pain. According to a study published in the British Medical Journal in 2016, around one-third to half of the population in the U.K. suffers from chronic pain.
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An increasing number of establishments for national interventional pain management platform is projected to fuel the growth of the market over the forecast timeline. For instance, in February 2018, NexPhase Capital, LP acquired Gulf Coast Pain Institute, through which the company launched a new national interventional pain management platform named Clearway Pain Solutions Institute, which will provide interventional pain management therapies to patients suffering from chronic pain.
The chances of chronic pain in the geriatric population is very high. Hence, the rising geriatric population base rate is expected to increase demand for interventional pain management and fuel global interventional pain management market growth over the forecast period. For instance, according to the data published by the United Nations Population Fund, people aged 60 years and above accounted for 12.3% of the global population in 2015, which is expected to increase to 22% by 2050, accounting for 2 billion people.
Regional Analysis
North America’s interventional pain management market is expected to gain drastic growth over the forecast period and this can be attributed to increasing promotional activities by interventional pain management providers to bring awareness about interventional pain management techniques among the population. For instance, in 2016, the Center for Interventional Pain and Spine launched its new website to bring awareness about the interventional pain management techniques among the population.
The growing prevalence of chronic pain among the population is projected to fuel interventional pain management market growth in Europe in the near future. For instance, according to the data published by the World Health Organization (WHO) in 2015, around 20% of the adult population in Europe was suffering from chronic pain.
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At the same time, the Asia Pacific market is expected to witness significant growth over the forecast owing to the increasing geriatric population in the region which is presumed to increase the demand for interventional pain management, which in turn is expected to drive interventional pain management market growth in the region. For instance, according to the data published by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) in 2016, the Asia Pacific region constitutes around 60% of the world’s geriatric population. It is estimated that in 2016, around 547 million people were aged above 60 years in the Asia Pacific region and this number is expected to double and reach around 1.3 billion by 2050.
Key Players
Key players operating in the global interventional pain management market include the Ipsen Group, Allergan Plc., Medytox Inc., Merz GmbH, Medtronic Plc., Boston Scientific Corporation, and St. Jude Medical, Inc.
Market Segmentation
The global interventional pain management market is segmented based on technique, application, and region.
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
By Region-
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
Table of Content
Global Interventional Pain Management Market Research Report
Section 1: Global Interventional Pain Management Industry Overview
Section 2: Global Economic Impact on Interventional Pain Management Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Interventional Pain Management Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Interventional Pain Management Market Forecast
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