How Has The Spinal Cord Stimulation Market Size Evolved Historically?
The spinal cord stimulation market has seen considerable growth due to a variety of factors.
•There has been significant growth in the market size of spinal cord stimulation in the past few years. The market is projected to expand from $3.14 billion in 2024 to a value of $3.42 billion in 2025, showing a compound annual growth rate (CAGR) of 8.8%.
This growth during the historical period can be credited to factors such as an aging population, increasing instances of chronic pain, advanced awareness regarding spinal cord stimulation, and high demand for non-invasive procedures to manage pain.
What Will Be The Spinal Cord Stimulation Market Size In The Future?
The spinal cord stimulation market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for spinal cord stimulation is anticipated to witness substantial growth in the coming years, scaling up to $4.78 billion in 2029, with a compound annual growth rate (CAGR) of 8.7%.
This anticipated growth within the forecast period can be ascribed to the evolution of inventive stimulation therapies, the broadened application scope for spinal cord stimulation, increasing demand for minimally invasive procedures and escalating investments in research and development along with accommodating reimbursement policies. Notable trends for the forecast duration encompass the incorporation of artificial intelligence into spinal cord stimulation devices, rising prominence of non-paraesthesia-based stimulation, strategic focus on enlarging market presence in developing economies, the preference for rechargeable stimulators, and a strong emphasis on patient-centric designs in the product development process.
What Are The Key Drivers Fueling Growth In The Spinal Cord Stimulation Market?
The escalating frequency of spinal cord injuries is predicted to fuel the expansion of the spinal cord stimulation market. The term spinal cord injuries pertains to any harm to the spinal cord or the nerves at the end of the spinal canal, often caused by traumatic events and domestic accidents. Spinal cord injuries are managed through spinal cord stimulation, which employs low-voltage electricity to the spinal cord to reduce pain. For example, in May 2022, the National Library of Medicine, a government library based in the US, reported that spinal cord injuries annually affect between 250,000 and 500,000 people globally. Approximately 17,000 fresh spinal cord injuries are recorded in America each year, with an estimated 282,000 Americans identified as survivors of spinal cord injury. Thus, the escalating frequency of spinal cord injuries is driving the expansion of the spinal cord stimulation market.
What Are The Principal Market Segments In The Global Spinal Cord Stimulation Industry?
The spinal cord stimulation market covered in this report is segmented –
1) By Product: Rechargeable, Non-rechargeable
2) By Application: Failed Back Surgery Syndrome (FBSS), Degenerative Disc Disease (DDD), Complex Regional Pain Syndrome (CRPS), Arachnoiditis, Other Disease Indications
3) By End User: Hospitals, Ambulatory Surgery Centers, Specialty Clinics
Subsegments:
1) By Rechargeable: Implantable Pulse Generators (IPGs), Rechargeable Lead Systems
2) By Non-Rechargeable: Non-Rechargeable Implantable Pulse Generators (IPGs), Non-Rechargeable Lead Systems
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Which Emerging Market Trends Are Altering The Spinal Cord Stimulation Sector?
The rising prominence of technological breakthroughs is a trending aspect in the spinal cord stimulation industry. Leading corporations in the market are striving to develop superior technological solutions to ensure their dominance. For example, in December 2022, Abbott Laboratories, an American medical equipment company, introduced the Eterna spinal cord stimulation system for chronic treatments. This is the smallest implantable, rechargeable spine stimulator for chronic pain management available in the market right now. Abbott's proprietary low-dose BurstDR technology, the sole SCS waveform technology supported by top-tier clinical evidence (1A evidence), powers this Eterna SCS technology. It has been demonstrated to provide pain relief that's 23% more effective than traditional waveform technology methods.
Who Are the Key Players in the Spinal Cord Stimulation Market?
Major companies operating in the spinal cord stimulation market include:
• Abbott Laboratories
• Medtronic PLC
• Stryker Corporation
• Boston Scientific Corp.
• LivaNova PLC
• Globus Medical Inc.
• ZimVie Inc.
• Avanos Medical Inc.
• Nevro Corp.
• Axonics Modulation Technologies Inc.
• SPR Therapeutics Inc.
• BlueWind Medical
• Bioness Inc.
• Saluda Medical Pty. Ltd.
• Soterix Medical Inc.
• Synapse Biomedical Inc.
• NeuroMetrix Inc.
• NDI Medical LLC
• Neuros Medical Inc.
• Cirtec Medical Corp.
• Mainstay Medical International plc
• Gimer Medical
What are the Regional Insights into the Spinal Cord Stimulation Market?
North America was the largest region in the spinal cord stimulation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spinal cord stimulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
