The spinal cord stimulators market size is estimated to register a revenue of USD 5,441.4 million by 2033. Our healthcare experts opine that spinal cord stimulator suppliers can expect a promising CAGR of 7.2% through 2033, with a present valuation of USD 2,702.7 million in 2023.
Spinal Cord Stimulators Market Trends
Clinical Studies to Enhance the Market Demand for Spinal Cord Stimulators
Key players are initiating clinical studies to further the market expansion. For instance, ANEUVO, a platform and therapy development firm, recently commenced the clinical study of the ExaStim TSS system, a wirelessly controlled neuromodulation system engineered for transcutaneous spinal cord stimulation (TSS). The study intends to research the safety and efficacy of ExaStim in combination with conventional rehabilitation therapy for patients with upper extremity paralysis.
TSS is an emerging neuromodulation therapy with the scope to assist individuals suffering from SCI to better their motor function. ExaStim therapy stimulates the spinal cord to modulate neural networks to improve motor function. Initial research suggests that non-invasive spinal stimulation may assist individuals with SCI in recovering lost motor function and improving their functional independence.
Recent Advances in Spinal Rehabilitation Technology
The market is observing significant advances in spinal rehabilitation therapy and technology. For instance, the American Congress of Rehabilitation Medicine (ACRM) conference in 2022 exhibited several new technologies and trends in spinal cord rehabilitation. These are expected to enhance the management of spinal cord injury (SCI).
One of the recent innovations includes neuromodulation devices. These involve the usage of electrodes on the brain, peripheral nerves, or the spinal cord. It functions by actively stimulating nerves to develop a natural biological response or by using targeted pharmaceutical agents in small doses straight to the site. The latest evidence has showcased that almost 50% of patients have stated enhanced pain management.
| Attributes | Details |
|---|---|
| Spinal Cord Stimulators Market Size, 2022 | USD 2,550.3 million |
| Spinal Cord Stimulators Market Size, 2023 | USD 2,702.7 million |
| Spinal Cord Stimulators Market Size, 2033 | USD 5,441.4 million |
| Value CAGR (2023 to 2033) | 7.2% |
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The spinal cord stimulators market is estimated to expand at a higher CAGR of 7.2% in the forecast period, in comparison to the 5.8% CAGR observed in the historical period.
| Spinal Cord Stimulators Market Size (2018) | USD 2,037.50 million |
|---|---|
| Spinal Cord Stimulators Market Size (2022) | USD 2,550.3 million |
| Spinal Cord Stimulators Market (CAGR 2018 to 2022) | 5.8% |
According to the estimates by the National Spinal Cord Injury Statistical Center, chronic diseases have now doubled in the past few years. In the United States alone, 54 incidences of injuries in every million get listed under SCI owing to surged injuries and traumas associated with spinal procedures and treatments. The spinal cord stimulator industry is expected to swell due to rising cases of chronic diseases in the upcoming years.
The industry is projected to widen as awareness about the advantages of these technologies to alleviate pain becomes widespread. The schemes and policies offered by the government to profit the elderly population and underprivileged people by getting treated at reasonable costs are significant factors leading to market expansion.
| Country/ Region | Value Share (2022) |
|---|---|
| North America | 75.2% |
| Europe | 14.8% |
| The United States | 73.1% |
| Germany | 2.3% |
| Japan | 4.9% |
The spinal cord stimulators are instrumental in treating chronic neuropathic pain refractory. This treatment option is used when intractable chronic pain has not improved with conventional treatment modalities. Several SCS/neuromodulation recipients include women of childbearing age who may become pregnant. As per the latest market estimates, the North America market for spinal cord stimulators holds the maximum market share of around 75.2%.
The United States spinal cord stimulators market is expected to acquire a market value of about 73.1% in 2022. The market development can be attributed to the utilization patterns that show a drastic surge in spinal cord stimulation trials. Moreover, due to ongoing research and study, the medical literature exhibits the efficacy of spinal cord stimulation in alleviating chronic pain and improving quality of life and cost-utility.
The market in the United States is also thriving due to Medicare-approved SCS operations. From 2000 to 2019, there were 9,92,372 Medicare-approved percutaneous cord stimulator operations. Total open spinal cord stimulator operations, in this duration that were Medicare-approved included somewhere around 99,736. In 2019, Medicare paid USD 1.02 billion and USD 145 million in reimbursement to physicians for percutaneous spinal cord stimulator and open spinal cord stimulator operations, respectively.
The Europe market is expected to acquire about 14.8% in 2023. The region is led by Germany, which has a market contribution of 2.3% on a global scale. The regional market is catalyzed by the increasing cases of failed back surgery syndrome, also known as postlaminectomy syndrome (PLS). The treatment of this disorder entails the deployment of spinal cord stimulators.
With the advent of the latest technologies, the demand for SCS devices has dramatically surged to alleviate axial pain effectively. Rising demand for industry-sponsored trials for improved outcomes is expected to consolidate the market.
The United Kingdom market is expected to thrive at a CAGR of 6.9% through 2033. Throughout the forecast period, the soaring presence of highly qualified healthcare professionals, surging awareness about SCS, and fueling healthcare funding are expected to advance the market growth.
The Japan market for spinal cord stimulators is expected to acquire a market share of around 4.9% in 2023. The market is experiencing a surge in patients suffering from neuropathic pain and choosing spinal procedures due to injuries and trauma. Moreover, Japan's health ministry has permitted induced pluripotent stem cells (iPS) to treat spinal cord injuries. iPS is being studied at Keio University in Japan, and it is considered one of the most significant treatment plans in regenerative medicine techniques.
The technique of iPS cells has escalated the expectations of mobility and function of paralyzed muscles. Consequently, this fueled the demand for the growth of spinal cord stimulators.
The Asia Pacific spinal cord stimulators market is expected to expand at a notable CAGR. The region is being supported by the growth in the emerging economies of the continent, particularly China and India, which show growth rates of 5.8% and 5.5% CAGRs, respectively. Since chronic pain is a critical social burden in Asian countries, the market for spinal cord stimulators is surging at an elevated rate. This is because spinal cord stimulation (SCS) is a promising treatment for refractory pain.
Analysts at FMI have predicted positive future trends for the uptake of spinal cord stimulators by hospitals, clinics, and ambulatory surgical centers. As research in this field is gaining high traction, and different regional organizations are coming forward to provide financial support for the said research, the market scope is expected to amplify over the forecast period.
China is expected to facilitate the establishment of novel indications for SCS, considering that at least one of their active trials is feasibility research of epidural stimulation in patients suffering from disorders of consciousness.
The spinal cord stimulators market in Australia is expected to expand at a CAGR of 6.9% through 2033. The increasing commitment from the public, as well as the private sector, is critical in obtaining treatments from bench to bedside. Researchers have predicted the requirement of USD 10 to 20 million in research investment to boost the adoption rate of spinal cord stimulation by all Australians suffering from spinal cord injury (SCI). In Australia, around 20,800 Australians have been diagnosed with SCI as of 2020, boosting the uptake of treatment options.
Despite the high cost of delivery of treatment plans, their return on investment is quite high. For instance, the new spinal cord stimulation treatment, which requires USD 20 million of investment, can gain a cost saving of USD 1.3 billion, thus resulting in a benefit-cost ratio of 1.96.
Principal Consultant
The rechargeable stimulator devices are gaining high traction. As per the analysts at FMI, the segment is expected to occupy a market share of around 67.7% in 2023. Factors like adaptability, affordability, and ability to control pain via wireless remote procedures are attributed to the surging adoption of these devices.
| Top Segment | Rechargeable Stimulator Devices |
|---|---|
| Market Share in 2023 | 67.7% |
Rechargeable stimulator devices facilitate curbing neuropathic pain by moderately electrically stimulating the spinal cord near pain points. Additionally, the battery of these devices is easy to replace.
The new product launches by prominent firms and the surge in patients with neuropathic and chronic pain are fueling the market growth. As reported by the NIH report on rechargeable and non-rechargeable systems in 2021, the median longevity of rechargeable devices was relatively greater than that of non-rechargeable devices purchased at similar costs.
Failed back surgery syndrome is expected to account for around 65.6% of the global market share in 2023. As per the research undertaken in North America, Latin America, and Europe, 44.6% cases of overall SCI cases were of failed back surgery syndrome (FBSS).
| Top Segment | Failed Back Surgery Syndrome |
|---|---|
| Market Share in 2023 | 65.6% |
Increasing advances in the spinal cord stimulation technique by the top investors are expected to lead the market growth. Increasing healthcare infrastructure and mounting healthcare funding are also driving the growth of this segment.
The ambulatory surgical centers (ASC) segment led the market by 59.1% market share. This segment has amassed significant revenue on account of cost-effective procedures and shorter stay periods.
| Top Segment | Ambulatory Surgical Centers |
|---|---|
| Market Share in 2023 | 59.1% |
Apart from this, manufacturers educate citizens about the benefits of SCS devices, which also contributes to the increase in patients seeking diagnostic procedures to overcome any challenge later on. The surge in the minimally invasive surgeries operated in ASCs is also fueling the sales in ambulatory surgical centers.
Key players in the market are going for M&A methods to gain a swift and low-risk entry in the global spinal cord stimulators market. M&A also helps widen the scope of the product portfolio. Additionally, active companies are emphasizing the research and development of new technologies to effectively manage pain. This creates a high preference for the leading players.
New Developments Taken Place in the Market
Market Players:
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The spinal cord stimulators market is worth USD 2,702.7 million in 2023.
The market is expected to expand at a CAGR of 7.2% through 2033.
The United States leads the spinal cord stimulators market.
Rechargeable spinal cord stimulators are witnessing high preference by end users.
Boston Scientific Corp, Greatbatch, Inc., and Saluda Medical Pty Ltd. are the key competitors of SCS.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Products 5.1. Rechargeable 5.2. Non-Rechargeable 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Failed Back Surgery Syndrome 6.2. Complex Regional Pain Syndrome 6.3. Ischemic Limb Pain 6.4. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals 7.2. Ambulatory Surgical Centers 7.3. Clinics 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Medtronic Public Limited Company 18.2. Boston Scientific Corp 18.3. St Jude Medical LLC and Nevro Corp 18.4. Nuvectra Corporation and Stimwave 18.5. Neurosigma Inc. 18.6. Synapse Biomedical Inc 18.7. Abbott Laboratories 18.8. Beijing PINS Medical Co., Ltd 18.9. Cirtec Medical Corporation 18.10. Gimer Medical 18.11. Bluewind Medical 18.12. Bioinduction 18.13. Greatbatch, Inc 18.14. Saluda Medical Pty Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
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Spinal Cord Stimulators Market
