Global Spinal Cord Stimulation Devices Market by Application (CRPS, Degenerative Disk Disease), by Product (Rechargeable, Non-rechargeable) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global market for spinal cord stimulation devices was worth USD 1.83 billion. This market is expected to grow at 8.7% CAGR over the forecast period. The spinal cord stimulation device is made up of a thin wire that carries current from the pulse generator to the nerve fibers in the spinal cord. The market is experiencing significant growth due to the rise in patients with failed back syndrome, chronic pain and Complex Regional Pain Syndrome (CRPS).

Chronic pain syndrome (CRPS) is a chronic condition that causes severe pain in one limb (hand or arm), and can occur after an injury. There are two types of CRPS: CRPS I and CRPS II. Individuals without confirmed nerve injury are classified as CRPS I, while those with confirmed nerve injury are classified as CRPS II.

According to the National Institute of Neurological Disorders and Stroke, symptoms of CRPS most often occur in women but can also occur at any age. 90% of cases of CRPS are due to injury or trauma. Market growth is driven by the increasing number of chronic pain patients.

It can be used to treat chronic pain by altering and blocking pain signals before reaching the brain. According to the National Center for Biotechnology Information, (NCBI), spinal cord stimulation is treated by electrical stimulation at the dorsal spinal cord surface that blocks neuropathic pain.

Product Insights

The fastest-growing product category in the forecast period is the rechargeable device. This is due to their flexibility, cost effectiveness, control of pain management, and wireless remote technologies. This device sends gentle electrical signals to the spine near the painful areas in order to block neuropathic pain. It has a battery that can be easily replaced by a surgeon.

The segment is also being driven by the increasing number of patients with chronic and neuropathic symptoms and new product launches from major companies. Boston Scientific launched the Precision Novi spinal stimulator in June 2015. It is an Implantable Pulse Generator, (IPG) and was designed to enhance patient comfort. The implantable primary cell spinal cord stimulator implant was designed to improve patient comfort and address chronic, which are the main causes of spinal surgery.

Applications Insights

Due to the high prevalence of chronic pain, the CRPS segment dominated the market for spinal cord stimulation devices. People with CRPS may also notice changes in their skin color and temperature. These changes are caused by abnormal microcirculation due to damage to nerves controlling temperature and blood flow. People can develop CRPS after injury or trauma. This could include sprains and fractures, limb immobilization and soft tissue injuries. The tissues contain inflammatory chemicals that can also affect the immune system. Due to the increasing incidence of degenerative disc disease, this segment is expected to grow the fastest over the forecast period.

This is a common age-related condition. It occurs when one or more discs between the vertebrae and spinal column deteriorate or break down, leading to pain. Segment growth can also be boosted by technological advances and new product development. Medtronic's implantable neurostimulation device, for example, is designed to decrease chronic pain in the trunk or limbs. It can be used to treat failed back syndrome, post-laminectomy pain, peripheral causalgia and epidural fibrisis.

Regional Insights

North America dominated the global market for 2018 and will continue to lead in future due to increased cases of chronic pain, failed-back syndrome and CRPS. The regional market will be driven by increasing awareness of spinal cord stimulation therapy, the presence of established healthcare facilities, and the availability of highly qualified doctors. Market growth will also be spurred by the rapid adoption of technologically advanced products.

Additionally, the market growth is being positively affected by the increasing reimbursements for innovative devices such as wireless remote technology. Asia Pacific will see the greatest CAGR. This is due to an increasing number of patients with neuropathic pain following spinal surgery and chronic pain in the legs, arms and feet owing to traumas and injuries.

Market Share insights on Spinal Cord Stimulation Devices

Boston Scientific Corp., Medtronic PLC, NeuroSigma, Inc., Nevro Corp., Stimwave LLC, and Synapse BIOMEDICAL, Inc. are some of the major players in this market. To maintain their market positions, these companies are focused on product development, technological advances, and growth strategies such as mergers or acquisitions.

Market Report Scope Spinal Cord Stimulation Devices

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2015 to 2026. Grand View Research has divided the global market for spinal cord stimulation devices on the basis product, region, and application.

• Product Outlook (Revenue USD Million, 2015-2026)

  • Rechargeable

  • Non-Rechargeable

• Application Outlook (Revenue USD Million, 2015-2026)

  • Failed Back Syndrome

  • Complex Regional Pain Syndrome

  • Degenerative disk disease

  • Unsuccessful Disk Surgery

  • Other

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Singapore

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Columbia

  • Middle East and Africa (MEA).

    • South Africa

    • Saudi Arabia

    • UAE

These are the most frequently asked questions about this report

b. Global spinal cord stimulation device market was valued at USD 2.0 billion in 2019, and is forecast to grow to USD 2.1 billion by 2020.

b. The global market for spinal cord stimulation devices is expected to expand at 8.7% compound annual growth rate between 2019 and 2026, to reach USD 3,5 billion by 2026.

b. With a 30.88% share in 2019, North America was the dominant market for spinal cord stimulation devices. This can be attributed to the growing prevalence of chronic and neuropathic pains, the presence of established healthcare facilities, and the availability of highly-skilled neurologists.

b. Boston Scientific Corporation, St. Jude Medical, Inc. (Abbott), Neurosigma Inc, Nevro Corp, SynapseBiomed Inc, and Medtronic are some of the major players in the spinal cord stimulation device market.

b. Market growth is driven by the following key factors: increasing incidence of failed back syndrome, availability medical reimbursements, rise in patients suffering from chronic pain, and increasing incidence of complex regional painful syndrome.

Up Market Research published a new report titled “Spinal Cord Stimulation Devices Market research report which is segmented by Application (CRPS, Degenerative Disk Disease), by Product (Rechargeable, Non-rechargeable), By Players/Companies Boston Scientific Corp; Medtronic PLC; NeuroSigma, technological advancements, Inc These companies focus on new product development, Inc; Nevro Corp; Stimwave LLC; and Synapse Biomedical, growth strategies, to maintain their industry positions, such as mergers and acquisitions”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Spinal Cord Stimulation Devices Market Report Segments:

The market is segmented by Application (CRPS, Degenerative Disk Disease), by Product (Rechargeable, Non-rechargeable).

Spinal Cord Stimulation Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Spinal Cord Stimulation Devices Market

Overview of the regional outlook of the Spinal Cord Stimulation Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Spinal Cord Stimulation Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Spinal Cord Stimulation Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. CRPS

                2. Degenerative Disk Disease

                1. Rechargeable

                2. Non-rechargeable

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Spinal Cord Stimulation Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Spinal Cord Stimulation Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.