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  • Lloyd Price

Key trends expected to shape Pain Management and Adherence markets in 2024 and beyond



Exec Summary:


The pain management market is experiencing exciting growth, driven by several key trends:


Increased Demand:


  • Chronic pain prevalence: Chronic pain affects a significant portion of the population, with an aging demographic further increasing demand.

  • Opioid crisis: Concerns about opioid addiction are driving the search for non-opioid pain management solutions.

  • Technological advancements: New technologies offer more personalised, data-driven, and effective pain management strategies.

Tech-driven Solutions:


  • Digital Therapeutics (DTx): App-based solutions offering personalized pain management programs, education, and support.

  • Telehealth: Remote consultations and monitoring for improved accessibility and convenience.

  • Wearables & Biosensors: Continuous pain monitoring and data collection for personalized treatment plans.

  • AI & Machine Learning: Personalized pain prediction, risk assessment, and treatment recommendations.

  • Neurostimulation Devices: Minimally invasive procedures targeting specific nerves for pain relief.

  • Virtual Reality (VR): distraction and pain management techniques through immersive experiences.

Other Key Trends:


  • Focus on non-pharmacological approaches: Mind-body therapies, mindfulness, and exercise programs gaining traction.

  • Precision medicine: Tailoring pain management to individual needs and genetic variations.

  • Remote patient monitoring: Continuous data collection for proactive intervention and improved outcomes.

  • Value-based care models: Emphasis on cost-effective and evidence-based pain management strategies.

  • The global pain management market is expected to reach $3.3 Billion by 2026.

  • Neurostimulation devices are the largest product segment, followed by infusion pumps and ablation devices.

  • North America dominates the market, but Asia Pacific is expected to see the fastest growth.

Challenges:


  • Data privacy and security are crucial concerns in a data-driven healthcare landscape.

  • Affordability and access to new technologies remain a barrier for some patients.

  • Integration with existing healthcare systems can be complex and require collaboration.

  • Regulatory approvals for new technologies can take time, hindering market adoption.

Overall, the pain management market is poised for significant growth, fuelled by technological innovation and a growing demand for effective, non-opioid solutions.


Corporate Development for Healthcare Technology companies in EMEA


Healthcare Technology Thought Leadership from Nelson Advisors – Market Insights, Analysis & Predictions. Visit https://www.healthcare.digital 


HealthTech Corporate Development - Buy Side, Sell Side, Growth & Strategy services for Founders, Owners and Investors. Email lloyd@nelsonadvisors.co.uk  


HealthTech M&A Newsletter from Nelson Advisors - HealthTech, Health IT, Digital Health Insights and Analysis. Subscribe Today! https://lnkd.in/e5hTp_xb 


HealthTech Corporate Development and M&A - Buy Side, Sell Side, Growth & Strategy services for companies in Europe, Middle East and Africa. Visit www.nelsonadvisors.co.uk  





Some of the key trends expected to shape the pain management market in 2024 and beyond


Building upon the previous insights, here are some specific trends expected to significantly shape the Pain Management market in 2024 and beyond:


Tech-driven Advancements:


  • AI-powered diagnostics and treatment: AI algorithms analyzing patient data for personalized pain diagnosis, treatment recommendations, and predicting potential complications.

  • Digital therapeutics (DTx) evolution: DTx platforms integrating biofeedback, cognitive behavioral therapy (CBT), and gamification for more engaging and effective pain management.

  • Closed-loop neuromodulation: Implantable devices with AI-driven closed-loop systems adjusting stimulation based on real-time pain signals for personalized pain relief.

  • AR/VR integration: Augmented Reality and Virtual Reality offering immersive distraction techniques, rehabilitation exercises, and pain management education.


Shifting Focus:


  • Precision pain medicine: Targeting specific pain mechanisms and individual genetic variations for more effective treatment.

  • Holistic pain management: Integrating non-pharmacological approaches like mindfulness, meditation, and exercise into treatment plans.

  • Mental health integration: Addressing the strong link between chronic pain and mental health conditions like anxiety and depression for improved overall well-being.

  • Preventative care: Utilizing wearables and biosensors for early pain detection and intervention to prevent chronic pain development.


Market Dynamics:


  • Telehealth expansion: Continued growth of telehealth consultations and remote monitoring for pain management, especially in underserved areas.

  • Value-based care models: Increasing focus on cost-effectiveness and improved patient outcomes driving adoption of evidence-based pain management strategies.

  • Data-driven insights: Utilizing real-world data and analytics to optimize pain management protocols and improve treatment efficacy.

  • Regulatory landscape changes: Streamlined regulatory pathways for innovative pain management technologies to accelerate market access.


Challenges and Opportunities:


  • Data privacy and security: Implementing robust data security measures and ensuring patient privacy in a data-driven healthcare environment.

  • Accessibility and affordability: Addressing cost barriers and developing affordable pain management solutions for diverse populations.

  • Integration and interoperability: Ensuring smooth integration of new technologies with existing healthcare systems for seamless patient care.

  • Educating healthcare professionals: Providing effective training and education on new pain management technologies for wider adoption.


These trends highlight a dynamic and evolving Pain Management market, driven by technological advancements, a shift towards personalised and holistic approaches, and a focus on value-based care. By addressing the challenges and leveraging opportunities, the market has the potential to significantly improve pain management outcomes and quality of life for millions of people worldwide.



Emerging Pain Management Technologies and Companies


Neuromodulation:


  • Company: Nevro Corporation (HFX System) - This system uses high-frequency spinal cord stimulation to treat chronic pain in various regions, offering minimally invasive and long-lasting relief.

  • Technology: Closed-loop neuromodulation - Implantable devices like Medtronic's Intellis and Abbott's BurstDRT continuously analyse pain signals and adjust stimulation automatically for personalised pain relief.

Biofeedback & Wearables:


  • Company: BioSerenity (PainPod) - This device uses biofeedback and gentle electrical stimulation to help users manage chronic pain through relaxation techniques.

  • Technology: Biometric sensors in wearables like Empatica's E4 wristband and Spire Health's Health Tag monitor stress levels, heart rate variability, and skin conductance, providing insights into pain management strategies.

Virtual Reality (VR) & Augmented Reality (AR):


  • Company: AppliedVR (EaseVRx) - This VR platform uses immersive experiences to distract users from pain and promote relaxation, reducing reliance on medication.

  • Technology: XR Therapeutics' XR Health platform utilizes AR/VR applications for pain management education, rehabilitation exercises, and distraction techniques.

Digital Therapeutics (DTx):


  • Company: Akili Interactive (Akilala) - This video game-based therapeutic uses neurocognitive exercises to improve attention and cognitive function, alleviating pain perception in chronic pain conditions.

  • Technology: Pear Therapeutics' RelievaRx app offers personalised biofeedback and cognitive behavioural therapy (CBT) exercises to manage chronic pain.

Other Emerging Technologies:


  • Non-invasive neuromodulation: Companies like Cala Health and eNeura Therapeutics are developing transcranial direct current stimulation (tDCS) and transcranial magnetic stimulation (TMS) devices for non-invasive pain management.

  • Gene editing: Companies like Voyager Therapeutics and Editas Medicine are exploring gene editing therapies targeting specific pain pathways for long-term pain relief.




Venture Capital Investment in Pain Management


While there's growing awareness of the immense societal impact of chronic pain, investment in pain management companies remains surprisingly low compared to other healthcare areas. Here's a breakdown:


Overall:


  • Despite the high prevalence of chronic pain, venture capital investment in pain management has lagged behind other sectors like oncology.

  • In 2021, only 1.3% of total VC investment in therapeutics went to pain and addiction companies, totaling $228 million, compared to $9.7 billion for oncology.

  • While 2023 data isn't fully available, some reports suggest a slight uptick in investment, but the disparity persists.

Reasons for Low Investment:


  • High regulatory hurdles: Drug development for pain is historically challenging with a high failure rate due to complex pain mechanisms and stringent regulatory requirements.

  • Opioid crisis: The public's negative perception of opioids has made investors cautious about pain medications, even non-opioids.

  • Competition from other areas: Investors often prioritiSe diseases with larger patient populations and potentially higher returns, like oncology and rare diseases.

Areas of Growth:


  • Despite the overall low investment, some sub-sectors within pain management are seeing increased interest:

  • Neuromodulation devices: Less invasive and offer long-term relief, attracting companies like Nevro and Abbott.

  • Digital therapeutics (DTx): Offer personalized and non-invasive approaches, like Akili Interactive and Pear Therapeutics.

  • Telehealth: Enables remote pain management consultations and monitoring, driven by companies like Teladoc Health and Livongo Health.

Future Outlook:


  • Rising awareness of the pain crisis and the unmet medical need might drive increased investment in the coming years.

  • Advancements in technology like AI and DTx could lead to more effective and cost-efficient pain management solutions, attracting investor interest.

  • Policy changes that incentivise pain research and development could also accelerate investment.

Overall, while current investment levels are low, there are signs of increasing interest in pain management, potentially leading to a brighter future for patients dealing with chronic pain.



Pain management adherence - market size and opportunity


While the precise size of the pain management adherence market isn't readily available as a singular entity, it can be estimated by combining data from related markets and analysing specific segments. Here's a breakdown:


Overall Pain Management Market:


  • The global pain management drugs market was valued at USD 78.66 billion in 2023, with a projected CAGR of 4.5% until 2032.

  • The global medication adherence market is anticipated to reach USD 11.23 billion by 2030, growing at a CAGR of 15.5%.

Estimating Pain Management Adherence Market Size:


  • Considering that non-adherence contributes significantly to treatment failure in pain management, a portion of the overall pain management market can be assumed to represent the potential opportunity for adherence solutions.

  • Estimates suggest that medication non-adherence costs the US healthcare system $289 billion annually, with a significant portion related to pain management medications.

  • Based on these figures, the opportunity for pain management adherence solutions could be in the range of billions of dollars, reflecting the substantial economic burden of non-adherence.

Market Components:


  • The pain management adherence market encompasses various solutions including:

  • Smart pillboxes: Dispensing medications at specific times with reminders and remote monitoring.

  • Digital therapeutics: Mobile apps offering medication reminders, educational content, and personalized support.

  • Telehealth consultations: Remote consultations with healthcare professionals to address adherence barriers.

  • Non-invasive neuromodulation: Devices like TENS units and biofeedback for pain relief, potentially improving adherence to medication regimens.

Growth Drivers:


  • Rising prevalence of chronic pain conditions.

  • Increased awareness of the impact of non-adherence on health outcomes and costs.

  • Advancements in technology like data analytics and AI for personalized adherence strategies.

  • Growing focus on value-based care models incentivizing improved patient outcomes.

Challenges:


  • Reimbursement challenges for new technologies.

  • Data privacy and security concerns.

  • Integrating solutions with existing healthcare systems.

  • Educating patients and healthcare professionals about adherence-focused tools.

Overall, the pain management adherence market presents a significant opportunity with rising demand for solutions that improve medication adherence and patient outcomes. Continued innovation, regulatory support, and patient education will be crucial to unlocking this market's full potential.



The future of pain management and adherence


The future of pain management and adherence in the next 5 years promises to be exciting and transformative, driven by several key trends:


Technological Advancements:


  • AI-powered solutions: AI algorithms will analyze patient data to predict pain flare-ups, personalize treatment plans, and recommend adherence strategies in real-time.

  • Closed-loop neuromodulation: Implantable devices will automatically adjust stimulation based on individual pain signals, offering personalized and long-term pain relief.

  • Virtual and augmented reality (VR/AR): Immersive VR/AR experiences will provide distraction from pain, promote relaxation, and guide rehabilitation exercises.

  • Digital therapeutics (DTx): Advanced DTx platforms will integrate biofeedback, cognitive behavioral therapy (CBT), and gamification for engaging and effective pain management.

Shifting Focus:


  • Precision medicine: Pain management will become increasingly personalized, targeting specific pain mechanisms and individual genetic variations for more effective treatment.

  • Holistic approach: Non-pharmacological approaches like mindfulness, meditation, and exercise will be seamlessly integrated into treatment plans.

  • Mental health integration: The strong link between chronic pain and mental health conditions will be addressed, offering comprehensive care for improved well-being.

  • Predictive and preventative care: Wearables and biosensors will enable early pain detection and intervention, potentially preventing chronic pain development.

Evolving Market Dynamics:


  • Telehealth expansion: Telehealth consultations and remote monitoring will become commonplace, improving access to pain management specialists, especially in underserved areas.

  • Value-based care models: Focus on cost-effectiveness and improved outcomes will drive the adoption of evidence-based pain management and adherence solutions.

  • Data-driven insights: Real-world data and analytics will be used to optimize pain management protocols, personalize treatment plans, and improve adherence strategies.

  • Regulatory landscape changes: Streamlined regulatory pathways for innovative pain management technologies will accelerate market access and adoption.

Challenges and Opportunities:


  • Data privacy and security: Implementing robust data security measures and ensuring patient privacy will be crucial in a data-driven healthcare environment.

  • Accessibility and affordability: Addressing cost barriers and developing affordable pain management solutions for diverse populations will be essential.

  • Integration and interoperability: Ensuring smooth integration of new technologies with existing healthcare systems will be necessary for seamless patient care.

  • Educating healthcare professionals: Providing effective training and education on new pain management technologies and adherence strategies will be key to wider adoption.

Overall, the future of pain management and adherence holds immense promise for alleviating suffering and improving the lives of millions living with chronic pain. Embracing technological innovation, adopting a holistic approach, and addressing existing challenges will be crucial to unlocking the full potential of this transformative field.


Corporate Development for Healthcare Technology companies in EMEA


Healthcare Technology Thought Leadership from Nelson Advisors – Market Insights, Analysis & Predictions. Visit https://www.healthcare.digital 


HealthTech Corporate Development - Buy Side, Sell Side, Growth & Strategy services for Founders, Owners and Investors. Email lloyd@nelsonadvisors.co.uk  


HealthTech M&A Newsletter from Nelson Advisors - HealthTech, Health IT, Digital Health Insights and Analysis. Subscribe Today! https://lnkd.in/e5hTp_xb 


HealthTech Corporate Development and M&A - Buy Side, Sell Side, Growth & Strategy services for companies in Europe, Middle East and Africa. Visit www.nelsonadvisors.co.uk  





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