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Global Spinal Cord Stimulation Market Share, Size, Growth, Trends, Analysis, Forecast: By Product Type: Rechargeable Spinal Cord Stimulator Systems, Non-Rechargeable Spinal Cord Stimulator Systems; By Applications: Sciatica, FBS (Failed Back Syndrome), Arachnoiditis, Others; By End User; Regional Analysis; Supplier Landscape; 2024-2032
Global Spinal Cord Stimulation Market Outlook
The global spinal cord stimulation market was valued at USD 2.7 billion in 2023, driven by the growing demand for spinal cord stimulation due to the rising prevalence of spinal cord injuries and surgeries conducted around the world and the rapidly developing healthcare technology. The market size is anticipated to grow at a CAGR of 8.1% during the forecast period of 2024-2032 to achieve a value of USD 5.4 billion by 2032.
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Global Spinal Cord Stimulation Market Trends
Spinal cord stimulation is a method used to relieve pain by using a spinal cord stimulator device that is surgically placed under the skin. The device is used to deliver low levels of electricity directly to the spinal cord. These devices can be used by healthcare providers, along with other pain management treatments and reduce the need for medications.
- Increasing restrictions on opioid medication for pain relief has propelled the demand for spinal cord stimulation due to the need for non-opioid alternative treatment solutions. Opioid medication can lead to addiction among patients, due to which, restrictions are being placed to reduce the utilisation of opioids.
- The rising prevalence of cases related to chronic pain is one of the key factors propelling the global market for spinal cord stimulators. With the development of the market, new spinal cord stimulation therapy guidelines can enhance the spinal cord stimulation market development.
- In addition, the rapidly developing healthcare sector has created opportunities for innovations and improved treatment methods for spinal cord injuries. One such development is Epidural stimulation, which utilizes surgically implanted electrodes to deliver current to the dorsal aspect.
Global Spinal Cord Stimulation Market Analysis
Based on type, the market can be segmented into rechargeable and non-rechargeable. Based on the disease, the market bifurcations include failed back surgery syndrome, degenerative disc disease, complex regional pain syndrome, arachnoiditis, and ischemic limb pain, among others. Based on end-use, the market can be divided into hospitals, ambulatory surgical units, and speciality clinics. The regional markets for the spinal cord stimulation market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.
- Abbott Laboratories
- Medtronic Plc
- Boston Scientific Corporation
- Nevro Corp.
- Stimwave LLC
- Others
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Types of Spinal Cord Stimulation Devices in the Market
The global market for spinal cord stimulation has different types of devices, such as rechargeable and non-rechargeable. Rechargeable devices are growing rapidly in demand and are expected to hold the largest market share. The development of the market segment can be attributed to the cost-effectiveness and flexibility, and it enables remote treatment to be conducted. In addition, these devices reduce the number of surgeries which helps in reducing the patient’s discomfort and complications.
Diseases in the Spinal Cord Market
Based on the diseases, the market can be segmented into failed back surgery syndrome, degenerative disc disease, complex regional pain syndrome, arachnoiditis, and ischemic limb pain, among others.
The failed back surgery syndrome segment is expected to lead the segment owing to the rising number of patients enrolling for the treatment of failed back pain. The increasing number of spinal surgeries done around the world is likely to enhance the market growth.
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Competitive Landscape
Abbott Laboratories is an American multinational medical device and healthcare company, which was founded in 1888. The company has a large product portfolio related to technologies for various fields, including healthcare, diagnostics, medical devices, nutritional supplements, and generic medicines. The company offers their products in more than 160 countries.
Medtronic Plc is one of the leading medical technology companies, founded in 1949. The company's headquarter is located in Dublin, Ireland. The company has developed their product portfolio based on different fields including cardiovascular, diabetes, digestion, neurological, spinal and orthopaedic, and urological.
Boston Scientific Corporation is a multinational biotechnology and engineering company, operating to develop innovative devices and treatment solutions for chronic diseases and life-threatening conditions. The company operates across more than 100 countries to provide healthcare services. The company was founded in 1979 and has been developing various products related cardiovascular treatment, pacemakers, remote patient monitoring, and critical care products.
Other market players include Nevro Corp. and Stimwave LLC, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Applications |
|
| Breakup by End User |
|
| Breakup by Region |
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| Market Dynamics |
|
| Supplier Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Spinal Cord Stimulation Market Overview
3.1 Global Spinal Cord Stimulation Market Historical Value (2017-2023)
3.2 Global Spinal Cord Stimulation Market Forecast Value (2024-2032)
4 Global Spinal Cord Stimulation Market Landscape
4.1 Global Spinal Cord Stimulation Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Spinal Cord Stimulation Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Applications
4.2.3 Analysis by End User
5 Global Spinal Cord Stimulation Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Spinal Cord Stimulation Market Segmentation
6.1 Global Spinal Cord Stimulation Market by Product Type
6.1.1 Market Overview
6.1.2 Rechargeable Spinal Cord Stimulator Systems
6.1.3 Non-Rechargeable Spinal Cord Stimulator Systems
6.2 Global Spinal Cord Stimulation Market by Applications
6.2.1 Market Overview
6.2.2 Sciatica
6.2.3 FBS (Failed Back Syndrome)
6.2.4 Arachnoiditis
6.2.5 Degenerative Disk Disease
6.2.6 Others
6.3 Global Spinal Cord Stimulation Market by End User
6.3.1 Market Overview
6.3.2 Hospitals
6.3.3 Ambulatory Surgical Centres
6.3.4 Specialty Centres
6.3.5 Others
6.4 Global Spinal Cord Stimulation Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Spinal Cord Stimulation Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Spinal Cord Stimulation Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Spinal Cord Stimulation Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Spinal Cord Stimulation Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Spinal Cord Stimulation Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Nevro Corp.
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 St. Jude Children's Research Hospital
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Synapse Biomedical Inc.
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 NeuroSigma Inc.
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Medtronic
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 Greatbatch
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 NDI Medical LLC
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 NeuroPace Inc.
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 Abbott
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 Autonomic Technologies Inc.
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 Beijing PINS Medical Co., Ltd.
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Cirtec Medical Corporation
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Boston Scientific Corporation
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 Stimwave LLC
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Saluda Medical Pty Ltd.
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
18 Global Spinal Cord Stimulation Market - Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
In 2023, the global spinal cord stimulation attained a value of USD 2.7 billion.
The market is anticipated to grow at a CAGR of 8.1% during the forecast period of 2024-2032 to reach a value of USD 5.4 billion by 2032.
The market growth is driven by the growing demand for spinal cord stimulation due to the rising prevalence of spinal cord injuries and surgeries conducted around the world and the rapidly developing healthcare technology.
The increasing demand for non-invasive treatment methods and increasing restrictions on opioid medication can aid the market development.
The regional markets include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The types of devices available in the market include rechargeable and non-rechargeable.
The types of diseases include failed back surgery syndrome, degenerative disc disease, complex regional pain syndrome, arachnoiditis, and ischemic limb pain, among others.
The spinal cord stimulation treatments are utilised by hospitals, ambulatory surgical units, and speciality clinics.
The key players in the market include Abbott Laboratories, Medtronic Plc, Boston Scientific Corporation, Nevro Corp., and Stimwave LLC, among others.
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