Global Spinal Cord Stimulation Market Size, Share, Growth Analysis, By Technology Type(Rechargeable, Non-Rechargeable), By Application(Failed back surgery syndrome, Complex Regional Pain Syndrome)

Description

Spinal Cord Stimulation Market size was valued at USD 3.02 billion in 2021 and is poised to grow from USD 3.25 billion in 2022 to USD 5.83 billion by 2030, growing at a CAGR of 7.58% in the forecast period (2023-2030).

The spinal cord stimulator (SCS), also known as the dorsal column stimulator, is a neurostimulation device implanted in the body to treat chronic pain. It works by emitting electric signals that block pain signals, providing relief for conditions related to the spinal cord, back, arms, and legs. This therapy is particularly beneficial for patients with chronic pain who have not responded to medication or other traditional treatments.

The global SCS market is experiencing significant growth due to advancements in technology, the establishment of guidelines for SCS procedures, and the increasing adoption of minimally invasive therapies. These factors are driving the attention and demand for SCS globally. Additionally, the high prevalence of chronic pain in the population, attributed to sedentary lifestyles, further contributes to the market's expansion. The current boom in the market is expected to create more opportunities in the future, fueled by the growing adoption of neurostimulation techniques.

Segments covered in this report

Spinal Cord Stimulation Market segmentation is based on technology type, application and region. Based on technology type the market is segmented into rechargeable and non- rechargeable types. Based on application, the market is segregated into failed back surgery syndrome, complex regional pain syndrome, arachnoiditis, sciatica, degenerative disc disease and others. Based on region the Spinal Cord Stimulation Market is segmented into North America, Europe, Asia-Pacific and Rest of the world

Driver

Continuous technological advancements and government guidelines are driving the growth of the spinal cord stimulator market. Manufacturers are focusing on making devices smaller and more efficient, leading to the development of more advanced impulse production. Additionally, government associations are establishing recommendations and guidelines for the use of spinal cord stimulation therapy in treating chronic pain and other conditions. These guidelines, such as those released by the National Institute for Health and Care Excellence, are encouraging market activity and adoption of spinal cord stimulators.

Restraint

The high costs associated with spinal cord stimulator implantation and the uneven distribution of medical services are posing challenges to market growth. The surgery costs can vary significantly depending on factors such as insurance coverage and out-of-pocket expenses. Additionally, the ongoing maintenance expenses and replacement costs further contribute to the financial burden for patients. Moreover, the lack of availability of healthcare equipment in remote locations limits treatment options for the local population, leading to a dependency on larger towns for necessary medical care. These factors are likely to impede the growth of the market.

Market Trends

Government initiatives aimed at reducing opioid dependence have led to an increased demand for alternative therapies, including spinal cord stimulation devices. Governments in the U.S., Europe, and other countries are actively supporting the development and approval of non-opioid pain management devices. Medical device companies like Medtronic, Abbott, and Boston Scientific are investing in research and development to capitalize on this growing market opportunity.

Technological advancements in the field of spinal cord stimulation are also driving market growth. Miniature devices are being developed, and customization techniques such as remote-control options, rechargeable batteries, and wireless connectivity are being incorporated into the devices. These advancements allow for more personalized and convenient treatment options in the healthcare sector.

Product Code: SQSG35A2012

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Spinal Cord Stimulation Market by Technology Type

Market Overview
Rechargeable
Non-Rechargeable

Global Spinal Cord Stimulation Market by Application

Market Overview
Failed back surgery syndrome
Complex Regional Pain Syndrome
Arachnoiditis
Sciatica
Degenerative Disc Disease
Others

Global Spinal Cord Stimulation Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Medtronic
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Boston Scientific Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Abbott Laboratories
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stimwave LLC
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nuvectra Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Saluda Medical Pty Ltd
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Synapse Biomedical Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
NeuroSigma, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Axonics Modulation Technologies, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
SPR Therapeutics, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cyberonics, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Inspire Medical Systems, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
ReShape Lifesciences Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
LivaNova PLC
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Integer Holdings Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Nevro Corp.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Stryker Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Zynex, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
StimGuard LLC.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Spinal Cord Stimulation Market Size, Share, Growth Analysis, By Technology Type(Rechargeable, Non-Rechargeable), By Application(Failed back surgery syndrome, Complex Regional Pain Syndrome) - Industry Forecast 2023-2030