Global Spinal Cord Stimulators Market, By Product (Rechargeable Spinal Cord Stimulator Systems, Non-Rechargeable Spinal Cord Stimulator Systems), Application (Sciatica, FBS, Arachnoiditis, Degenerative Disk Disease, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The market for spinal cord stimulators is huge and relatively untapped. Spinal cord stimulators have a lot of promise for treating persistent back pain. Because of the growing geriatric population, increased desire for less invasive operations, and technological improvements around the world, the worldwide spinal cord stimulators market is expected to rise significantly in the next years.
Data Bridge Market Research analyses that the spinal cord stimulators market which was USD 2.1 billion in 2021, would rocket up to USD 3.92 billion by 2029, and is expected to undergo a CAGR of 8.1% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
The spinal cord stimulator (SCS), also known as the dorsal column stimulator, is an implanted neuromodulation device used to relieve chronic pain in the human body. The device puts out electric signals that block pain signals, preventing the brain from recognizing the pain. The dorsal column stimulator (DCS) is another name for the spinal cord stimulator (SCS). An electric pulse generator is part of the system. The spinal cord stimulator's operation is based on pain control therapy. The spinal cord stimulator blocks pain signals from reaching the brain, preventing the brain from recognizing the pain. The device has favorable, symptomatic, and long-term results in sciatica, cervical radiculopathy, failed back surgery syndrome (FBSS), reflex sympathetic dystrophy, and arachnoiditis.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Billion, Volumes in Units, Pricing in USD
By Product (Rechargeable Spinal Cord Stimulator Systems, Non-Rechargeable Spinal Cord Stimulator Systems), Application (Sciatica, FBS, Arachnoiditis, Degenerative Disk Disease, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Market Players Covered
Nevro Corp. (U.S), St. Jude Children's Research Hospital (U.S), Synapse Biomedical Inc (U.S), NeuroSigma Inc U.S), Medtronic (U.S), Greatbatch (U.S), NDI Medical LLC (U.S), NeuroPace Inc. (U.S), Abbott (U.S), Autonomic Technologies Inc Germany), Beijing PINS Medical Co., Ltd(China), Cirtec Medical Corporation (U.S), Boston Scientific Corporation (U.S), Stimwave LLC (U.S), Saluda Medical Pty Ltd. (U.S)
Spinal Cord Stimulators Market Dynamics
Risen as the burden of chronic diseases has grown
The increased need for spinal cord stimulators is due to an increase in injuries and traumas following spinal procedures and changes in social behaviour.
The number of people suffering from chronic pain is increasing
Spinal cord stimulators for pain management is increased which is one of the key factors propelling the global spinal cord stimulators market forward. New spinal cord stimulation therapy guidelines drive the worldwide spinal cord stimulators market.
Growth in well-established healthcare industries
The market is growing as patients become more aware of the benefits of modern technologies for pain treatment. The government's ongoing research and investment are also contributing to the cause.
The expansion of the spinal cord stimulation market is being fueled by technological improvements, the availability of healthcare facilities, and the rising desire for non-invasive surgeries. The government's actions are promoting market development. Furthermore, greater awareness and increased research and development activities allow the industry to expand. People grow more knowledgeable about medicines, their side effects, and how they are utilized to alleviate pain. The most extensively used therapy, HF10, has proven to be more beneficial in the case of SCS.
Side effects of the therapy and the use of any electronic equipment in the human body should be avoided in patients who are undergoing anticoagulant treatment. The high cost of items and the lack of appropriate device reimbursements are also predicted to limit market expansion.
This spinal cord stimulators market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the spinal cord stimulators market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Spinal Cord Stimulators Market
Across the country, the COVID-19 epidemic had a significant influence on elective and non-urgent procedures. As a result, the government chose to postpone the surgeries, potentially slowing the growth of the global spinal cord stimulators (SCS) market. Other than the COVID pandemic, the spinal cord stimulators (SCS) market faces significant challenges, including product recalls, adverse effects and hazards related to the devices, and the high cost of the devices.
- In January 2018, Nevro Corp stated that its spinal cord stimulation device, the Senza II Spinal Cord Stimulation (SCS) System, which delivers HF10 therapy, had been approved by the U.S Food and Drug Administration.
- In January 2017, Abbott announced the purchase of St. Jude Medical Inc., which included the company's complete product portfolio as well as its pharmaceuticals sector. A global leader in medical equipment is projected to emerge with this transaction.
Global Spinal Cord Stimulators Market Scope
The spinal cord stimulators market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Rechargeable Spinal Cord Stimulator Systems
- Non-Rechargeable Spinal Cord Stimulator Systems
On the basis of product the market is segmented into Rechargeable Spinal Cord Stimulator Systems and Non-Rechargeable Spinal Cord Stimulator Systems.
- FBS (Failed Back Syndrome)
- Degenerative Disk Disease
On the basis of application the market is segmented into Sciatica, FBS (Failed Back Syndrome), Arachnoiditis, Degenerative Disk Disease and others.
Spinal Cord Stimulators Market Regional Analysis/Insights
The spinal cord stimulators market is analyzed and market size insights and trends are provided by country, type, price range, application and end-user as referenced above.
The countries covered in the spinal cord stimulators market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is expected to dominate the overall spinal cord stimulators (SCS) market during the forecast period. This domination is due to the enhanced reimbursement policies by the government and the high acceptance of technical advancements owed to the increase in healthcare expenditure by the U.S government.
Asia Pacific is forecasted to be the fastest-growing region owing to the rise in the number of patients and the rise in the inclination of the patients for innovative technologies and non-invasive methods for the treatment of neuropathic pain.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The spinal cord stimulators market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for spinal cord stimulators market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the spinal cord stimulators market. The data is available for historic period 2010-2020.
Competitive Landscape and Spinal Cord Stimulators Market Share Analysis
The spinal cord stimulators market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to spinal cord stimulators market.
Some of the major players operating in the spinal cord stimulators market are:
- Nevro Corp. (U.S)
- St. Jude Children's Research Hospital (U.S)
- Synapse Biomedical Inc (U.S)
- NeuroSigma Inc (U.S)
- Medtronic (U.S)
- Greatbatch (U.S)
- NDI Medical LLC (U.S)
- NeuroPace Inc. (U.S)
- Abbott (U.S)
- Autonomic Technologies Inc. (Germany)
- Beijing PINS Medical Co., Ltd (China)
- Cirtec Medical Corporation (U.S)
- Boston Scientific Corporation (U.S)
- Stimwave LLC (U.S)
- Saluda Medical Pty Ltd.(U.S)
Research Methodology: Global Spinal Cord Stimulators Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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