Global Spinal Cord Stimulators Market was valued at USD 2.25 billion in 2021, growing at a CAGR of 8.70% during the forecast period from 2022 to 2027 to reach USD 3.72 billion by 2027. The demand for Spinal Cord Stimulators (SCS) is primarily attributed to the growing number of patients with chronic pain, and neuropathic pain in the shoulder, legs, and knee. The technologically advanced devices that are non-invasive, eliminate targeted pains, cause a reduction in patient discomfort, with no side effects are likely responsible for a boost in the Global Spinal Cord Stimulators (SCS) Market growth. Moreover, favorable government regulations for commercialization and launching products in the market and rising geriatric population are some of the factors responsible for propelling the growth of the Spinal Cord Stimulators (SCS) Market.
Spinal Cord Stimulators: An Overview
Spinal cord stimulation device consists of a thin wire, which carries out current from the pulse generator to nerve fibers of the spinal cord. These are mounted under the skin and transmit electrical signals to the spinal cord. This system is made up of a short wire that brings current to the nerve fibers of the spinal cord from a pulse generator. Therefore, machines for spinal cord stimulation help minimize discomfort due to electrical pulses and mask the signal of pain from affecting the brain.
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Global Spinal Cord Stimulators Market
Global Spinal Cord Stimulators (SCS) Market was valued at USD 2.25 billion in 2021, growing at a CAGR of 8.70% during the forecast period from 2022 to 2027 to reach USD 3.72 billion by 2027.
Recent Developmental Activities in the Spinal Cord Stimulators (SCS) Market:
- On September 02, 2021, The Auburn Surgery Center in Cape Girardeau, Mo., performed the region’s first procedure using Medtronic’s recharge-free Vanta spinal cord stimulator.
- In May 2021, Medtronic has announced the launch of CareGuidePro, a new mobile application and web portal that serves as a virtual guide for patients throughout their spinal cord stimulation therapy journey.
- In January 2021, Abbott announced the upcoming launch of NeuroSphere myPath, a digital health app designed to track and report on patient-perceived pain relief in chronic pain patients with physicians before device implant.
Key Takeaways from the Spinal Cord Stimulators Market Report Study
- Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Spinal Cord Stimulators (SCS) market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Spinal Cord Stimulators (SCS) Market.
- Various opportunities are available for the other competitor in the Spinal Cord Stimulators (SCS) Market space.
- What are the top-performing segments in 2021? How these segments will perform in 2027?
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Spinal Cord Stimulators (SCS) market growth in the coming future?
Spinal Cord Stimulators Market Dynamics
Spinal Cord Stimulators (SCS) Market has significantly increased due to the growing burden of chronic diseases throughout the world. An increase in the injuries and traumas after going through spinal surgeries and changes in social behavior contributes to the rising demand for Spinal Cord Stimulators.
As per American Chiropractic Association, experts estimate that up to 80% of the population will experience back pain at some time in their lives. According to a research study, it’s estimated that around 80,000 people yearly are suffering due to back surgery failure. Failed back surgery statistics show that anywhere from 10-40% of failed back syndrome patients are affected. In fact, up to 74.6% of low back spine surgeries fail to eliminate back pain, according to a 2016 review in the Journal of Pain Research. Thus, the burgeoning cases of chronic diseases will contribute to the Global Spinal Cord Stimulators (SCS) Market growth.
COVID-19 Impact on the Spinal Cord Stimulators Market
The COVID-19 pandemic had a profound impact on elective and non-urgent surgeries across the countries. Hence, the government decided to postpone these surgeries which might slow down the Global Spinal Cord Stimulators (SCS) market growth. Certain factors other than the COVID pandemic such as product recalls, side effects and risks associated with the devices, and also the high cost of the devices pose a major hurdle for the growth of the Spinal Cord Stimulators (SCS) market.
Spinal Cord Stimulators Market Segment Analysis
Spinal Cord Stimulators (SCS) market by Product (Rechargeable, Non-Rechargeable, Others), Spinal Cord Stimulators (SCS) market by Application (Failed Back Syndrome (FBS), Degenerative Disk Disease (DDD), Complex Regional Pain Syndrome (CRPS), Others), Spinal Cord Stimulators (SCS) market by End User (Hospitals, Clinics, Ambulatory Surgical Centers), and Spinal Cord Stimulators (SCS) market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).
Some of the key market players operating in the Spinal Cord Stimulators (SCS) market include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Nevro Corp., Cirtec Medical, Stimwave LLC, NeuroSigma, Inc., Synapse Biomedical, Inc., Greatbatch, Inc., Saluda Medical Pty Ltd., Beijing PINS Medical Co., Ltd., and others.
Find more related information of the report– Spinal Cord Stimulators Market Size
Table of Content
1. Spinal Cord Stimulators (SCS) Market Report Introduction
2. Spinal Cord Stimulators (SCS) Market Executive summary
3. Regulatory and Patent Analysis
4. Spinal Cord Stimulators (SCS) Market Key factors analysis
5. Spinal Cord Stimulators (SCS) Porter’s Five Forces Analysis
6. COVID-19 Impact Analysis on Spinal Cord Stimulators (SCS) Market
7. Spinal Cord Stimulators (SCS) Market layout
8. Spinal Cord Stimulators (SCS) Global Company Share Analysis – Key 3-5 Companies
9. Spinal Cord Stimulators (SCS) Company and Product Profiles
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
14. About DelveInsight
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