Global Spinal Cord Stimulation Devices Market By Product (Rechargeable and Non-Rechargeable) By Application (Complex Regional Pain Syndrome, Unsuccessful Disk Surgery, Failed Back Syndrome, Degenerative Disk Disease and Other Applications)
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Market Report Description
The Global Spinal Cord Stimulation Devices Market size is expected to reach $2.8 billion by 2025, rising at a market growth of 8% CAGR during the forecast period. The increased cases of the failed back syndrome and complex regional pain syndrome are expected to positively impact the growth of the market. Failed back syndrome is a chronic pain that occurs after spinal surgeries for leg pain or back pain. Post the surgery, the pain reduces or the condition worsens due to scar tissue that arises around the spinal nerve roots.
Spinal cord stimulation devices treat patients who previously failed to get positive results from spinal surgeries. The devices block the pain before it reaches the brain. Therefore, the increased rate of patients suffering from chronic pain after surgeries is expected to boost the demand for these devices over the forecast period. Additionally, technological developments are pushing the growth and developments in the market. For example, Medtronic’s Intellis is the smallest implantable spinal cord stimulator that was created to overcome limitations with the existing systems.
Global Spinal Cord Stimulation Devices Market Size
The World Health Organization states that across the globe, around 250,000 to 500,000 people are suffering from spinal cord injury per year. The growing cases of spinal cord injuries, chronic back pain, and neurological disorders are the major factors that are influencing the developments in the spinal cord stimulation market. Additionally, the geriatric population and increased demand for minimally invasive surgeries further push the market growth. That being said, the high costs of treatment and stringent government regulations are restricting the growth of the market. Keeping these aside, constant research and developments in spinal cord stimulation are projected to enhance market productivity and can provide further opportunities in the near future.
Global Spinal Cord Stimulation Devices Market Share
Based on Product, the market is segmented into Rechargeable and Non-Rechargeable. Based on Application, the market is segmented into Complex Regional Pain Syndrome, Unsuccessful Disk Surgery, Failed Back Syndrome, Degenerative Disk Disease and Other Applications. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. An increase in the reimbursement of device developments like remote wireless technology has made a positive effect on the region's market growth. The Asia Pacific region is anticipated to attain the highest CAGR due to the huge number of neuropathic pain patients after spinal surgery and the chronic leg, arms, and foot pain caused by trauma and injuries. Due to growing instances of degenerative disorder, degenerative disk disease is projected to be the fastest-growing segment over the coming years.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories (St. Jude Medical, Inc.), Neurosigma, Inc., Nevro Corporation, Synapse BioMedical, Inc., Integer Holdings Corporation, Stimwave Technologies, Inc., Nuvectra Corporation and Saluda Medical Pty Ltd. The high dose treatment of the device reduces the pain for patients that suffer from diseases like degenerative disk disease. The key market players involved in the industry are introducing technologically advanced products to attain a cutting-edge in the market. For example, in January 2019, Boston Scientific launched its Spectra WaveWriter spinal cord stimulator in Europe. The device allows physicians and patients to tailor their treatment.
Scope of the Spinal Cord Stimulation Devices Market Analysis
- Complex Regional Pain Syndrome
- Unsuccessful Disk Surgery
- Failed Back Syndrome
- Degenerative Disk Disease
- Other Applications
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Boston Scientific Corporation
- Medtronic PLC
- Abbott Laboratories (St. Jude Medical, Inc.)
- Neurosigma, Inc.
- Nevro Corporation
- Synapse BioMedical, Inc.
- Integer Holdings Corporation
- Stimwave Technologies, Inc.
- Nuvectra Corporation
- Saluda Medical Pty Ltd.
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