Interventional pain management (IPM) provides minimally invasive procedures such as epidural steroid injections, facet joint injections, radiofrequency ablations to treat various types of chronic and acute pain including lower back pain, neck pain, knee pain, and cancer pain. These procedures help in pain relief with a short recovery time as compared to conventional pain management and surgeries. With growing geriatric population and rising incidence of chronic diseases, the need for IPM procedures is increasing rapidly.
Market key trends:
Minimally invasive nature and short recovery time are the major factors contributing to the increasing adoption of IPM procedures. These procedures help in delivering targeted drug therapies or applying radiofrequency energy to block pain signals with minimal incisions or punctures. This reduces trauma, blood loss, and post-procedure recovery time significantly as compared to conventional surgeries. With growing burden of chronic diseases and rising cases of acute injury and trauma, IPM is becoming the preferred option for pain management worldwide which is expected to drive the interventional pain management market growth over the forecast period.
Segment Analysis
The global interventional pain management market is dominated by thermal radiofrequency ablation segment due to increased adoption of minimally invasive procedures for pain management. Thermal radiofrequency ablation procedures involve application of heat to destroy small nerves and tissues, resulting in reduced pain sensation. The technique helps treat various conditions such as back and neck pain without the need for surgery.
Key Takeaways
The Global Interventional Pain Management Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The market size for interventional pain management was valued at US$ 7.49 Billion in 2023 and is projected to reach over US$ 25 Billion by 2030, registering a CAGR of around 25%.
Regional analysis
North America currently dominates the global interventional pain management market due to rising geriatric population and increasing prevalence of chronic pain disorders in the region. The United States accounts for the largest share in the North American as well as global interventional pain management market. Increasing adoption of minimally invasive procedures and growing awareness about pain management therapies are some of the key factors driving the growth of interventional pain management market in the region.
Key players
Key players operating in the interventional pain management market are Medtronic, Abbott, Stryker, B. Braun Melsungen AG, Boston Scientific Corp., Baxter, OMRON Healthcare, Inc. Medtronic holds the largest share in the global market owing to its wide portfolio of thermal radiofrequency ablation systems for pain management. Abbott is another prominent player with strong presence across key markets.
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