The global Spinal Cord Stimulation Devices market will register an 8.7% CAGR in terms of revenue, the global market size will reach US$ 1.83 million by 2027.
Moreover, an increasing number of patients suffering from chronic and neuropathic pain and new product launches by major companies are driving the segment further. For instance, Boston Scientific launched its Precision Novi spinal cord stimulator, which is an Implantable Pulse Generator (IPG). The primary cell spinal cord stimulator implant is designed to enhance patient comfort and address chronic pain, which is one of the primary causes of spinal surgeries.
Rechargeable device is expected to be the fastest-growing product segment over the forecast period owing to their cost-effectiveness, flexibility, and controlling pain management, and wireless remote techniques. Such a device sends mild electrical signals to the spinal cord near painful areas so that it can block the neuropathic pain. It contains a battery, which can get replaced easily through a surgical procedure.
Top Key Players in the Spinal Cord Stimulation Devices Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Spinal Cord Stimulation Devices Market is fragmented with a large number of small players operating worldwide. The companies referred to in the market research report include Medtronic, Boston Scientific, Abbott (St. Jude Medical), Nevro, Nuvectra, and others.
Jan. 24, 2022-- Medtronic plc (NYSE:MDT), a global leader in healthcare technology, today announced it has received U.S. Food and Drug Administration approval of its Intellis™ rechargeable neurostimulator and Vanta™ recharge-free neurostimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy (DPN). DPN is a debilitating and progressive neurological disorder that affects approximately 30% of people with diabetes, significantly impacting both quality of life and functional ability, including mood, social relationships, and sleep.1 DPN occurs when high blood sugar (glucose) damages nerves in the body, most often in the legs and feet, leading to numbness and burning or stabbing pain. In some patients, the pain can become progressively worse and excruciating.
The market is segmented based on the type, applications, companies and regions.
By Type, Spinal Cord Stimulation Devices Market has been segmented into
The end user’s industry application on Spinal Cord Stimulation Devices Market is,
North America held the largest proportion of the spinal cord stimulation market. The prevalence of chronic back pain is higher in North America, which increases the need for spinal cord stimulation among the population. According to the National Institute ( Neurological Disorders and Stoke, over 80% of persons suffer from low back pain at some point in their lives. According to the American Chiropractic Association, 31 million people in the United States suffer from lower back discomfort. Due to expanding demand for minimally invasive surgeries, improved healthcare infrastructure, and increased healthcare spending, Asia-Pacific is predicted to develop at the fastest rate.
North America
The Spinal Cord Stimulation Devices Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Spinal Cord Stimulation Devices Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Report Title | Spinal Cord Stimulation Devices Market - Global Growth, Trends and Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Medtronic, Boston Scientific, Abbott (St. Jude Medical), Nevro, Nuvectra |
Forecast Period 2022 to 2028 CAGR | CAGR of 8.7% over the forecast period (2022-2027) |
By Type |
|
By Application |
|
By Companies | Medtronic, Boston Scientific, Abbott (St. Jude Medical), Nevro, Nuvectra |
Regions Covered |
|
Countries Covered |
|
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 133 |
Customization Available | Yes, the report can be customized as per your needs |
Frequently Asked Questions
What is the study period of this market?
The Spinal Cord Stimulation Devices Market is studied from 2017 - 2027.
What is the growth rate of Spinal Cord Stimulation Devices Market?
The Spinal Cord Stimulation Devices Market is growing at a CAGR of 8.7% over the next 5 years.
Who are the key players in Spinal Cord Stimulation Devices Market?
Medtronic, Boston Scientific, Abbott (St. Jude Medical), Nevro, Nuvectra
What regions does this Spinal Cord Stimulation Devices Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Spinal Cord Stimulation Devices Market?
Rechargeable, Non-Rechargeable
What are the major end-use applications of the Spinal Cord Stimulation Devices Market?
Failed Back Surgery Syndrome, Complex Regional Pain Syndrome, Chronic Pain, Other
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
Reach us with your research requirements and we shall provide the optimum solution to suit your needs.
Discounts available for multiple report purchases.
