Global Spinal Cord Stimulation Market

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


Report ID: SQMIG35A2711 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 65 | Figures: 74

Global Spinal Cord Stimulation Market Insights

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 called the dorsal column stimulator is a neuromodulation tool that is implanted in the body to treat chronic pain. By emitting electric signals that block pain signals, the device stops the brain from being able to perceive pain. The purpose of having a stimulator is to manage the pain related to spinal cord, back, arms, and legs. Medically, it is used in treating chronic pain conditions that fail to respond to medication and other massage therapies. Thus, the SCS therapy follows neurostimulation that enables electrical impulses to relieve chronic pain in the joints.

Due to technical improvement, the emergence of legislative guidelines for SCS operations, and the quick uptake of minimally invasive therapies, SCS is drawing more attention globally. The market is booming at present and is expected to create move avenues in the forthcoming years based on high adoption of neurostimulation and a high prevalence of chronic pain in the population owing to the pursuit of sedentary lifestyle.

US Spinal Cord Stimulation Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 3.02 billion

Largest Segment

 rechargeable

Fastest Growth

technology type

Growth Rate

7.58% CAGR

Global Spinal Cord Stimulation Market ($ Bn)
Country Share for NA and AP Region (%)
Global Spinal Cord Stimulation Market By technology type ($ Bn)
Global Spinal Cord Stimulation Market By Component (%)

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Global Spinal Cord Stimulation Market Segmental Analysis

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.

Spinal Cord Stimulation Market Analysis by Technology Type

Rechargeable devices led the market and are expected to increase significantly over the coming years. This can be attributed to the rechargeable stimulator’s huge cost savings when compared to non-rechargeable ones. Using a rechargeable spinal cord stimulator instead of a non-rechargeable one can save a patient up to US$ 100,000 over the course of their lifetime. A rechargeable device also has the benefit of requiring fewer procedures, which decreases patient suffering and complications. These crucial elements are anticipated to promote the segment's expansion.

Spinal Cord Stimulation Market Analysis by Application

The Failed back surgery syndrome (FBSS) segment led the market because of an increase in spinal operations. Arachnoiditis is an uncommon condition that affects roughly 25,000 people worldwide annually. Spinal cord stimulation is a viable choice for the management of ailment as there is no specific treatment, which benefits the segment growth. On the other hand, the Degenerative Disk Disease (DDD) segment is predicted to experience profitable growth over the projection period. High growth is a result of both the growing senior population and the rising prevalence of DDD.

Global Spinal Cord Stimulation Market By Application, 2021 (%)

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Global Spinal Cord Stimulation Market Regional Insights

North America is dominating the global market owing to market expansion as a result of new government regulations and favourable health reimbursement. The market in North America is being driven by the strategic presence of major competitors in the U.S. and new product launches.

Asia Pacific accounted for a significant CAGR during the forecast period.  Owing to the presence of a high geriatric population and the quick adoption of neuromodulation therapy, the market growth in manifolds in the coming years. Middle East and Africa, Latin America, and other regions make up the remainder of the world, which has enormous growth potential and is expected to become a valuable market. The expansion of the market in other parts of the world is influenced by factors such as the rising prevalence of chronic back pain and the rising demand for minimally invasive therapies.

Global Spinal Cord Stimulation Market By Region, 2023-2030

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Global Spinal Cord Stimulation Market Dynamics

Spinal Cord Stimulation Market Drivers

Continuous technological advancements and government guidelines to favor the market growth.

  • The makers have intensified their research efforts in an effort to make spinal cord stimulators smaller. For instance, the Stimwave LCC-produced Freedom SCS system is roughly 5% smaller than the existing Implantable Pulse Generators (IPG) on the market. The rise of the spinal cord stimulation market is being driven by this as well as improvements in impulse production. 
  • One of the main drivers of market expansion is the development of recommendations for spinal cord stimulation therapy. Guidelines for this therapy's use in the treatment of chronic pain and other disease indications are being developed by a number of government associations. For instance, the Senza SCS system, which administers HF10 therapy to treat patients with neuropathic pain, was the subject of guidelines and recommendations released by the National Institute for Health and Care Excellence. Such encouraging proposals from governmental organizations are likely to increase market activity.

Spinal Cord Stimulation Market Restraints

The high costs of treatment and uneven distribution of medical service are hindering the market growth

  • The spinal cord stimulator implantations typically cost between US$ 21,000 and US$ 58,000. Whether the patient has private health insurance, public health insurance, or is footing the bill out of pocket also affects the cost of the surgery. In addition to this, the patient must cover yearly maintenance expenses such as hardware costs, healthcare workers' salaries, pulse generator replacement costs, hospitalization charges, etc. This is expected to most likely hinder the growth of the market.
  • Lack of availability of healthcare equipment at remote locations is expected to create a dearth of treatment options for local population. This is create dependency of local tribes to rely on bigger towns to avail the relevant medical treatment.

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Global Spinal Cord Stimulation Market Competitive Landscape

Due to the company's strong emphasis on research and development (R&D) as well as significant acquisitions that will help it in creating cutting-edge devices to manage chronic pain, Medtronic dominated the market by having accounting for a huge revenue share. Healthcare professionals prefer Medtronic spinal cord stimulators because they are easy to use, have long battery lives, produce superior clinical results, and come with outstanding customer support.

Spinal Cord Stimulation Market Top Players Company Profiles

  • Medtronic
  • Boston Scientific Corporation
  • Abbott Laboratories
  • Stimwave LLC
  • Nuvectra Corporation
  • Saluda Medical Pty Ltd
  • Synapse Biomedical Inc.
  • NeuroSigma, Inc.
  • Axonics Modulation Technologies, Inc.
  • SPR Therapeutics, Inc.
  • Cyberonics, Inc.
  • Inspire Medical Systems, Inc.
  • ReShape Lifesciences Inc.
  • LivaNova PLC
  • Integer Holdings Corporation
  • Nevro Corp.
  • Stryker Corporation
  • Zynex, Inc.
  • StimGuard LLC.

Spinal Cord Stimulation Market Recent Development

  • In March 2022, Saluda's spinal cord stimulation system was approved by the FDA for chronic pain. 
  • The Evoke system stimulates the spinal cord to alleviate the effects of chronic pain in the trunk and limbs, such as failed back surgery syndrome, intractable low back pain, and leg pain, and it constantly adjusts its therapy to optimize treatment.

Global Spinal Cord Stimulation Key Market Trends

  • Government Initiatives to Reduce Opioid Dependence: The governments of the U.S., Europe, and other countries have stepped up their efforts to lessen opioid dependence. Due to this, alternative therapies that do not need opioids are gradually becoming more popular, and demand for spinal cord stimulation devices is increasing. For instance, firms requesting a quick approval procedure for devices that can be used in place of opioids for pain management submitted more than 200 submissions to the FDA. In order to take advantage of this potential, medical device companies like Medtronic, Abbott, and Boston Scientific are constantly conducting research
  • Technological Advancements: With the increase in use of miniature devices, the spinal cord treatment is getting advanced. Besides, with the help of customization techniques such as remote-control options, rechargeable batteries, and wireless connectivity, the trend of customized treatment is likely to continue in the healthcare sector

Global Spinal Cord Stimulation Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to the global spinal cord stimulation market report analysis, the global spinal cord stimulation market segmentation is based on technology type, application and region. Rechargeable devices led the market and are expected to increase significantly over the coming years. Also, the failed back surgery syndrome (FBSS) segment led the market because of an increase in spinal operations. The North American market is dominating the market. Also, the North American market is expanding as a result of new government regulations and favorable health reimbursement.

 

Report Metric Details
Market size value in 2021 USD 3.02 billion
Market size value in 2030 USD 5.83 billion
Growth Rate 7.58%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Technology Type
    • Rechargeable, Non-Rechargeable
  • Application
    • Failed back surgery syndrome, Complex Regional Pain Syndrome, Arachnoiditis, Sciatica, Degenerative Disc Disease, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Medtronic
  • Boston Scientific Corporation
  • Abbott Laboratories
  • Stimwave LLC
  • Nuvectra Corporation
  • Saluda Medical Pty Ltd
  • Synapse Biomedical Inc.
  • NeuroSigma, Inc.
  • Axonics Modulation Technologies, Inc.
  • SPR Therapeutics, Inc.
  • Cyberonics, Inc.
  • Inspire Medical Systems, Inc.
  • ReShape Lifesciences Inc.
  • LivaNova PLC
  • Integer Holdings Corporation
  • Nevro Corp.
  • Stryker Corporation
  • Zynex, Inc.
  • StimGuard LLC.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Spinal Cord Stimulation Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Spinal Cord Stimulation Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Spinal Cord Stimulation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Spinal Cord Stimulation Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Spinal Cord Stimulation Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Spinal Cord Stimulation Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

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).

Due to the company's strong emphasis on research and development (R&D) as well as significant acquisitions that will help it in creating cutting-edge devices to manage chronic pain, Medtronic dominated the market by having accounting for a huge revenue share. Healthcare professionals prefer Medtronic spinal cord stimulators because they are easy to use, have long battery lives, produce superior clinical results, and come with outstanding customer support. 'Medtronic', 'Boston Scientific Corporation', 'Abbott Laboratories', 'Stimwave LLC', 'Nuvectra Corporation', 'Saluda Medical Pty Ltd', 'Synapse Biomedical Inc.', 'NeuroSigma, Inc.', 'Axonics Modulation Technologies, Inc.', 'SPR Therapeutics, Inc.', 'Cyberonics, Inc.', 'Inspire Medical Systems, Inc.', 'ReShape Lifesciences Inc.', 'LivaNova PLC', 'Integer Holdings Corporation', 'Nevro Corp.', 'Stryker Corporation', 'Zynex, Inc.', 'StimGuard LLC.'

The makers have intensified their research efforts in an effort to make spinal cord stimulators smaller. For instance, the Stimwave LCC-produced Freedom SCS system is roughly 5% smaller than the existing Implantable Pulse Generators (IPG) on the market. The rise of the spinal cord stimulation market is being driven by this as well as improvements in impulse production. 

Government Initiatives to Reduce Opioid Dependence: The governments of the U.S., Europe, and other countries have stepped up their efforts to lessen opioid dependence. Due to this, alternative therapies that do not need opioids are gradually becoming more popular, and demand for spinal cord stimulation devices is increasing. For instance, firms requesting a quick approval procedure for devices that can be used in place of opioids for pain management submitted more than 200 submissions to the FDA. In order to take advantage of this potential, medical device companies like Medtronic, Abbott, and Boston Scientific are constantly conducting research

North America is dominating the global market owing to market expansion as a result of new government regulations and favourable health reimbursement. The market in North America is being driven by the strategic presence of major competitors in the U.S. and new product launches.

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