Spinal cord stimulation is a medical technique that involves the use of an implanted device that delivers electrical impulses to spinal cord, with the aim of reducing pain and improving function in patients with chronic pain conditions. The spinal cord stimulation device consists of a small battery-powered generator that is implanted under the skin, in the lower back and one or more leads that are implanted in the epidural space near the spinal cord. The leads are connected to the generator and deliver electrical impulses to the spinal cord, which interrupt or block pain signals from reaching the brain. Spinal cord stimulation devices are used to treat a variety of conditions, such as failed back surgery syndrome (FBSS), complex regional pain syndrome (CRPS), degenerative disc disease (DDD), and painful diabetic neuropathy (PDN). Spinal cord stimulation devices are available in different types and designs, with varying features and capabilities. Different types of spinal cord stimulation such as rechargeable and non-rechargeable devices are designed to address different patients’ needs and provide customized treatment options.
The major factors driving the growth of spinal cord stimulation devices market are Increase in number of people suffering from chronic pain conditions, technological advancements in spinal cord stimulation devices, and rise in adoption of spinal cord stimulation devices. Chronic pain can be caused by a variety of conditions, such as failed back surgery syndrome (FBSS), complex regional pain syndrome (CRPS), degenerative disc disease (DDD), and diabetic neuropathy. These conditions can be debilitating, affecting a person's quality of life and requiring long-term management. Spinal cord stimulation devices have emerged as an effective treatment option for patients suffering from chronic pain conditions who have not responded to other forms of therapy. In addition, spinal cord stimulation devices work by delivering electrical impulses to the spinal cord, disrupting the transmission of pain signals to the brain.
Further, technological advancements in spinal cord stimulation devices have made the devices smaller, flexible, and more effective. For instance, newer devices use high-frequency stimulation, which can provide pain relief without causing the tingling or prickling sensations associated with traditional low-frequency stimulation. In addition, other advances Include the development of rechargeable batteries and wireless devices, which improve patient comfort and convenience. These technological advancements are expected to drive the demand for spinal cord stimulation devices as patients and physicians seek out more effective and user-friendly devices.
Moreover, the world’s population is aging rapidly, and this demographic shift is expected to drive the demand for spinal cord stimulation devices. Older adults are more likely to suffer from chronic pain conditions, and as the population ages, the number of people in need of spinal cord stimulation therapy is expected to grow. For instance, according to the U.S. Census Bureau 2022, more than 56 million adults aged 65 and older live in the U.S., accounting for about 16.9% of the nation’s population; thus, rise in geriatric population is anticipated to fuel the growth of market.
The spinal cord stimulation devices market is segmented into product, indication, end user, and region. On the basis of product, the market is bifurcated into rechargeable devices and non-rechargeable devices. Depending on indication, it is categorized into failed back surgery syndrome, complex regional pain syndrome, degenerative disc disease, and others. By end user, it is segregated into hospital, ambulatory surgical centers, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East Africa)
Major key players that operate in the global spinal cord stimulation devices market are Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Beijing PINS Medical Co., Ltd, Saluda Medical Pty Ltd., Nalu Medical, Inc., BIOTRONIK, GIMER MEDICAL, and Teliatry, Inc. The key players have adopted strategies such as acquisition, product launch, product approval, and expansion to expand their product portfolio.
The major factors driving the growth of spinal cord stimulation devices market are Increase in number of people suffering from chronic pain conditions, technological advancements in spinal cord stimulation devices, and rise in adoption of spinal cord stimulation devices. Chronic pain can be caused by a variety of conditions, such as failed back surgery syndrome (FBSS), complex regional pain syndrome (CRPS), degenerative disc disease (DDD), and diabetic neuropathy. These conditions can be debilitating, affecting a person's quality of life and requiring long-term management. Spinal cord stimulation devices have emerged as an effective treatment option for patients suffering from chronic pain conditions who have not responded to other forms of therapy. In addition, spinal cord stimulation devices work by delivering electrical impulses to the spinal cord, disrupting the transmission of pain signals to the brain.
Further, technological advancements in spinal cord stimulation devices have made the devices smaller, flexible, and more effective. For instance, newer devices use high-frequency stimulation, which can provide pain relief without causing the tingling or prickling sensations associated with traditional low-frequency stimulation. In addition, other advances Include the development of rechargeable batteries and wireless devices, which improve patient comfort and convenience. These technological advancements are expected to drive the demand for spinal cord stimulation devices as patients and physicians seek out more effective and user-friendly devices.
Moreover, the world’s population is aging rapidly, and this demographic shift is expected to drive the demand for spinal cord stimulation devices. Older adults are more likely to suffer from chronic pain conditions, and as the population ages, the number of people in need of spinal cord stimulation therapy is expected to grow. For instance, according to the U.S. Census Bureau 2022, more than 56 million adults aged 65 and older live in the U.S., accounting for about 16.9% of the nation’s population; thus, rise in geriatric population is anticipated to fuel the growth of market.
The spinal cord stimulation devices market is segmented into product, indication, end user, and region. On the basis of product, the market is bifurcated into rechargeable devices and non-rechargeable devices. Depending on indication, it is categorized into failed back surgery syndrome, complex regional pain syndrome, degenerative disc disease, and others. By end user, it is segregated into hospital, ambulatory surgical centers, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East Africa)
Major key players that operate in the global spinal cord stimulation devices market are Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Beijing PINS Medical Co., Ltd, Saluda Medical Pty Ltd., Nalu Medical, Inc., BIOTRONIK, GIMER MEDICAL, and Teliatry, Inc. The key players have adopted strategies such as acquisition, product launch, product approval, and expansion to expand their product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the spinal cord stimulation devices market analysis from 2022 to 2032 to identify the prevailing spinal cord stimulation devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the spinal cord stimulation devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global spinal cord stimulation devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Indication
- Failed back surgery syndrome
- Complex regional pain syndrome
- Degenerative disc disease
- Others
By Product
- Rechargeable devices
- Non-rechargeable devices
By End User
- Hospitals
- Ambulatory surgical centers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East Africa
Key Market Players
- Boston Scientific Corporation
- Beijing PINS Medical Co., Ltd
- Medtronic plc
- Abbott Laboratories
- BIOTRONIK SE & Co. KG
- Saluda Medical Pty Ltd.
- Nalu Medical, Inc.
- GIMER MEDICAL
- Teliatry, Inc.
- Nevro Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SPINAL CORD STIMULATION DEVICES MARKET, BY PRODUCT
CHAPTER 5: SPINAL CORD STIMULATION DEVICES MARKET, BY INDICATION
CHAPTER 6: SPINAL CORD STIMULATION DEVICES MARKET, BY END USER
CHAPTER 7: SPINAL CORD STIMULATION DEVICES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Spinal Cord Stimulation Devices Market,' The spinal cord stimulation devices market was valued at $2.1 billion in 2022, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.A spinal cord stimulation device is surgically implanted under the skin, typically in the lower back or buttock area, and uses electrical impulses to help alleviate chronic pain. The device works by delivering a low-voltage electrical current to the spinal cord, which interrupts pain signals traveling from the spinal cord to the brain. The major factors driving the growth of spinal cord stimulation devices market are increasing prevalence of chronic pain, favorable reimbursement policies and growing aging population. Chronic pain conditions such as failed back surgery syndrome, complex regional pain syndrome, and neuropathic pain are becoming more common. For instance, Canadian Pain Task Force Report 2021, stated that, chronic pain is major problem, and projections indicate as many as 8.3 million Canadians may live with chronic pain by 2025 & as many as 9.0 million by 2030, thereby driving the demand for spinal cord stimulation devices.
Spinal cord stimulation devices provide a non-pharmacological approach to managing chronic pain, offering an alternative to opioid-based pain management. Further, global population is aging, leading to increased risk of chronic pain conditions such as degenerative disc disease, and spinal stenosis. As the elderly population expands, the demand for effective pain management solutions such as spinal cord stimulation devices rises. Furthermore, advancements in technology have played a crucial role in the growth of the spinal cord stimulation devices market. Modern spinal cord stimulation devices offer a wide range of programming features, including the ability to target specific areas of pain, adjust stimulation parameters, and provide personalized therapy. These advancements have led to improved patient outcomes, enhanced pain relief, and increased patient satisfaction. Moreover, the development of rechargeable batteries has extended the lifespan of spinal cord stimulation devices, reducing the need for frequent battery replacements and enhancing patient convenience. Technological advancements have made spinal cord stimulation devices more effective, user-friendly and durable, thereby fueling their adoption and market growth.
In addition, the growing awareness and education about spinal cord stimulation devices therapy in emerging markets play a vital role in its adoption. Healthcare professionals, patient advocacy groups, and medical societies are actively involved in spreading awareness and providing education about the benefits of spinal cord stimulation devices therapy. This increased knowledge and understanding among healthcare providers and patients contribute to the acceptance and adoption of spinal cord stimulation devices therapy in these markets.
Moreover, reimbursement policies and coverage play a vital role in the adoption of medical devices, including spinal cord stimulation devices. In many regions such as North America, governments and insurance providers have recognized the clinical effectiveness of spinal cord stimulation in managing chronic pain and have implemented favorable reimbursement policies. These policies ensure that a significant portion of the cost associated with spinal cord stimulation devices and implantation procedures is covered, making them more accessible to patients. The availability of reimbursement encourages healthcare providers to recommend spinal cord stimulation devices as a viable treatment option, as patients can afford the associated costs, thereby propelling the growth of market.
The spinal cord stimulation devices market is segmented into product, indication, end user, and region. Based on product, the market is bifurcated into rechargeable devices and non-rechargeable devices. Depending on indication, it is categorized into failed back surgery syndrome, complex regional pain syndrome, degenerative disc disease and others. By end user, it is segregated into hospital, ambulatory surgical centers and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America and Middle East Africa).
The key players profiled in the study include Medtronic Plc, Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Beijing PINS Medical Co., Ltd, Saluda Medical Pty Ltd., Nalu Medical, Inc., BIOTRONIK, GIMER MEDICAL, and Teliatry, Inc.
Key Market Insights
- By product, the rechargeable devices segment accounted for largest share in terms of revenue in 2022 and expected to register highest CAGR during the forecast period.
- Based on indication, the failed back surgery syndrome segment was the major shareholder in terms of revenue in 2022. However, the degenerative disk disease segment is anticipated to register highest CAGR during the forecast period.
- Region wise, North America occupied the largest share in terms of revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Boston Scientific Corporation
- Beijing PINS Medical Co., Ltd
- Medtronic plc
- Abbott Laboratories
- BIOTRONIK SE & Co. KG
- Saluda Medical Pty Ltd.
- Nalu Medical, Inc.
- GIMER MEDICAL
- Teliatry, Inc.
- Nevro Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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