Driven by surge in prevalence of chronic pain, ageing population and growing R&D activities for the development of patient-centric novel devices, the pain management devices market is poised to grow significantly over the coming years.

The global pain management devices market is estimated to grow from $7.94 billion in 2024 to $13.32 billion by 2035, at a CAGR of 4.8% during the forecast period, till 2035.

Pain can be defined as an unpleasant sensation that can result from both physical and emotional factors. In the field of medical diagnosis, pain is regarded as a medical condition or a symptom of a disease and is one of the most common reasons why individuals seek medical consultation across the world. Given the prevalence of pain, effective pain management solutions become crucial in improving patient outcomes and quality of life. The key concept behind pain management is identifying the precise source of pain and identifying the optimal treatment options. Various effective treatment approaches are adopted by the healthcare personnels to tackle / manage the pain. These include pharmacological measures (such as analgesics, antidepressants and anticonvulsants), psychological measures (such as biofeedback and cognitive behavioral therapy), medical devices, physical therapy, exercise and application of ice and / or heat at the affected site.

Pain Management Solutions

Pain management is a process of providing medical care to prevent, reduce, or stop any condition characterized by pain. It generally involves the deployment of devices and therapies for reducing the suffering of individuals with musculoskeletal, spinal and neuropathic pain and other pain related disorders. Medications that are used for pain management includes both oral and topical therapies. Oral therapies include non-steroidal anti-inflammatory drugs (NSAIDs), acetaminophen, opioids, anti-depressants, muscle relaxants, sedatives and marijuana. Whereas topical therapies that are used for pain management include ointments, creams and transdermal patches. Apart from the using therapeutics to reduce the threshold of pain, acute and chronic pain can also be alleviated with the usage of pain management devices (such as spinal cord stimulators, radiofrequency ablation devices, infusion pump and virtual reality devices) which aids in providing sustained relief from pain and reducing the dependency on pain medications.

In pursuit of obtaining a competitive edge, companies are presently engaged in the development of advanced pain management devices in order to augment their product portfolio offerings.

In order to determine the relative competitiveness of companies engaged in pain management devices market, we focused on several relevant parameters, such as company strength (in terms of number of years of experience and company size), and portfolio strength (based on number of devices, type of pain management devices and type of pain managed). The primary purpose of this analysis is to develop a deeper understanding of the overall strength of the pain management device companies in this field. It allows leading companies to compare their existing capabilities and identify ways to gain a competitive edge in the industry.

The insights obtained from this analysis have been presented in the form of three-dimensional bubble charts, with company strength on the abscissa, portfolio strength on the ordinate and application area represented by size of the bubble (z-axis).

As per our proprietary scoring criteria, Zynex Medical emerged as the key player, having achieved a relatively higher score, in terms of portfolio strength. The company is engaged in the development of pain management devices for the treatment of both acute pain and chronic pain. It is worth noting that the zynex pain management product portfolio includes a wide range of non-invasive neurostimulation devices which includes NexWaveTM, Zynex Pro LSOs, Zynex Pro Wrist Brace, OA Knee Brace, Zynex Pro TLSO Brace, Aspen Horizon LSO, Zynex DynaComp and M-WaveTM. These devices have been developed to alleviate musculoskeletal pain, trauma and post-operative discomfort in the patients.

Furthermore, Medtronic and Boston Scientific (in decreasing order of their respective portfolio strength score) emerged as other important players. It is worth mentioning that Medtronic a US based company that offers ten pain management devices in their product portfolio. It is interesting to highlight that in April 2024, Medtronic launched Inceptiv device, an implantable closed-loop spinal cord stimulation system, in order to treat chronic pain.

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