Spinal Cord Stimulation Market

Global Spinal Cord Stimulation Market Size (2024 to 2032)

In 2023, the global spinal cord stimulation market was valued at USD 2207 million and it is expected to reach USD 4637 million by 2032 from USD 2396 million in 2024, growing at a CAGR of 8.6 % during the forecast period.

Spinal cord stimulation blocks pain sensation by using a low voltage stimulation, like a mild tingling. It helps the patients to manage symptoms better and will potentially decrease the use of pain drugs. It may also be an option if you have arm pain or chronic leg and have not found relief with other therapy's spine. It is a small device implanted in the body to transmit an electrical current to the spinal cord. When it turns on, the stimulation feels.

MARKET DRIVERS

The growing number of patients affected with chronic and neuropathic pain in arms, feet, and legs due to injuries and trauma after spinal surgeries propelling the spinal cord stimulation market.

The increasing adoption rate of spinal cord stimulation due to its non-invasive nature, significant reduction of targeted pains, and minimal or no side effects boost the growth of the global spinal cord stimulation market. In addition, increasing the adoption of technologically advanced spinal cord stimulation devices contributes to the growth of the overall market. Other key factors driving the development of the global spinal cord stimulation market are medical professionals' availability, the availability of healthcare facilities, and increasing awareness among people regarding available therapies for stimulation of the spinal cord. 

An increase in the number of advancements in spinal cord stimulators are estimated to promote the global spinal cord stimulation market growth.

Manufacturers have stepped up their research efforts to reduce the size of spinal cord stimulators. For instance, Stimgenics, a business based in the United States, created a new spinal cord stimulation waveform dubbed Differential Target Multiplexed (DTM) spinal cord stimulation. Another essential technique utilized to generate the impulse is HF10 therapy, which is more effective than typical spinal cord stimulation therapies. Aside from that, platforms such as WaveCrest and Intellis, remotely connected with smartphones and tablets to modify dose levels, promote spinal cord stimulation usage.

The rising prevalence of chronic neurological illnesses such as Parkinson's, epilepsy, and others in developed and developing economies propel the worldwide spinal cord stimulation market.

The growing focus of public and private sectors in various developed and developing countries for research and development activities in spinal cord stimulation is supposed to provide lucrative growth opportunities to key market players in the spinal cord stimulation market during the forecast period across the world. In addition, increasing demand for non-invasive surgery techniques due to patient preference for comfort will likely boost opportunities for the spinal cord stimulation market. Also, the continually growing account of neurological disorders and spinal cord injuries is expected to provide several options for developing the global spinal cord stimulation market. Furthermore, developing countries like India and China and the rising prevalence of chronic diseases in these regions will likely create lucrative opportunities for the key players during the forecast period.  Other key factors that are projected to fuel the growth of the worldwide spinal cord stimulation market throughout the forecast period include an increase in the incidence of lifestyle-related disorders such as sedentary lifestyle, stress, high blood pressure, and the growing use of spinal cord stimulators over opioids. In addition, the growing aging population, increased cases of persistent lower back pain, and increased healthcare investment are the key trends driving market expansion throughout the forecast period.

MARKET RESTRAINTS

High costs associated with the surgeries are the major challenge limiting the growth of the global spinal cord stimulation market.

Furthermore, unfavorable rules and regulatory frameworks are another significant restraint to the growth of the worldwide spinal cord stimulation market. Furthermore, product recalls, side effects and hazards related to the devices, and the high cost of the equipment are other vital factors hampering the spinal cord stimulation market growth. In addition, potential problems associated with SCS implantation, such as nerve injury, bleeding, and paralysis, could hamper the market's steady growth during the forecast period. Furthermore, the strict criteria for authorizing innovative treatments are a significant hurdle in substantial enterprises like Saluda Medical's growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Spinal Cord Stimulation Market Analysis By Product Type

The rechargeable device segment dominated the market in 2023 and is likely to grow at a brisk pace during the forecast period owing to the benefits associated with rechargeable devices, such as wireless control, flexibility, and cost control, and these devices can block neuropathic pain and easy to replace the battery. 

Global Spinal Cord Stimulation Market Analysis By Application

The CRPS segment led the global spinal cord stimulation market in 2023 and is expected to witness substantial growth during the forecast period owing to factors such as the broad base of patients affected with chronic pains due to trauma, limb mobilization, or injuries that occurred to soft tissues. 

The degenerative disk disease segment contributes a substantial share of revenues to the global spinal cord stimulation market. Furthermore, it will likely grow rapidly over the prediction period due to the rising patient pool of such diseases. 

Global Spinal Cord Stimulation Market Analysis By End-user

The hospital segment accounted for more than half of the market share, likely to continue for the rest of the forecast period. Because SCS is a surgical technique, it is primarily performed in hospitals, a significant driver driving the hospital segment's rise. Additionally, favorable health reimbursement rules and an expanding patient pool are expected to propel the market forward.

REGIONAL ANALYSIS

Among all those regions, the North American region led the market accounting for the dominating share in 2023, followed by Europe and Asia-Pacific due to the top manufacturers in the area. Some attributing factors in the spinal cord stimulation market are the government's rise in support by launching new products and providing various reimbursement policies in favor of the public. Additionally, there is enormous popularity in the North American region over the availability of different treatment processes. Moreover, technology is so advanced in the North American area. The dominance of the North American region is due to the government's improved reimbursement procedures and the high adoption of technological developments due to the US government's increased healthcare spending. Furthermore, the United States is the world's largest market, with many key businesses operating in the region. Due to rising product launches and commercialization agreements among leading manufacturers and other companies, the market is expected to develop.

The Asia-Pacific market is forecasted to have the highest CAGR due to the increasing prevalence of pain over the forecast period. Growth in the aging population and the rise in cancer-related disease incidences. Moreover, the presence of contributing countries like China and India, due to the high population, increases the investments in R&D activities of life sciences.

In upcoming years, Europe is anticipated to have robust growth due to the increased adoption rate in treatment procedures of the latest techniques growing prevalence of improving healthcare quality.

Latin America is estimated to hold a considerable share of the global market during the forecast period and MEA is expected to showcase a steady CAGR in the coming years.

KEY PLAYERS IN THE GLOBAL SPINAL CORD STIMULATION MARKET

A few notable global spinal cord stimulation market companies are Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, and Stimwave.

RECENT HAPPENINGS IN THE MARKET

• In February 2020, the Spine and Nerve Centre Organization released the results of their double-blind trials; the results suggest that ESAP-controlled closed-loop spinal cord stimulation is more effective than open-loop stimulation. In addition, the responder threshold of leg and back pain is enhanced in patients who underwent closed-loop stimulation.
• In February 2020, the researchers conducted studies to analyze the durability and efficacy of BurstDR spinal cord stimulation devices in analgesic consumption and abdominal pain reduction. They have reviewed the patient's medical records that affected different diseases related to abdominal pain. After completing the trial stimulation period, the researchers collected the data from those three patients. The data showed that two patients were entirely relieved from pain within two years, while the third still showed signs of illnesses with less frequency and severity.

DETAILED SEGMENTATION OF THE GLOBAL SPINAL CORD STIMULATION MARKET INCLUDED IN THIS REPORT

This research report on the global spinal cord stimulation market has been segmented and sub-segmented based on the product type, application, end-user, and region.

By Product Type

• Rechargeable
• Non-Rechargeable

By Application

• Degenerative Disk Disease (DDD)
• Failed Back Syndrome (FBS)
• Unsuccessful Disk Surgery
• Complex Regional Pain Syndrome (CRPS)
• Multiple Back Operations
• lumbar Adhesive Arachnoiditis

By End User

• Hospitals
• Ambulatory Surgery Centers (ASCs)

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa