Spinal Cord Stimulation Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4114
Spinal Cord Stimulation Devices Market size is projected to experience significant growth from 2019 to 2025.
Increase in number of people suffering from spinal disorders will enhance the market growth in the near future. As per the recent statistics, back pain is second most reason for physician visits. Also, across the globe spinal or back pain is the major leading cause of disability that prevents people from engaging into any kind of day to day activity. Hence, growing number of back problems across the globe will stimulate the spinal cord stimulation devices market growth in the near future.
Recent technological advancements in manufacturing novel spinal stimulation devices will play a significant role in the market growth. Since the past few years, advancements in spinal cord stimulation accelerated at substantial pace. Earlier, the devices had low frequency electrical stimulation, that was considered not as effective as required. Recent technological developments will enhance the product efficiency, resulting in high demand and adoption rate, fueling the market growth.
However, several risks and disadvantages associated with spinal cord stimulation will be a major reason for impeding the business growth. As per a recent study, around 40% of the users had device-related problems. The major complications were unintended movement of the leads, breakage of leads and failed connections in leads. Hence, certain risk factors will negatively impact the market growth.
Rechargeable spinal cord stimulation devices market is estimated to rapid growth over the forecast period. The segment growth is attributed to product flexibility, cost effectiveness, controlling pain management and wireless remote techniques. These devices send minute electrical signals to the spinal cord and blocks the neuropathic pain. Hence, several user friendly advantages offered by the product will boost the demand and adoption rate, augmenting the business growth.
Application of spinal cord stimulation devices in complex regional pain syndrome (CRPS) is estimated to hold significant market share. Increase in number of people suffering from CRPS across the globe will be a major market impact rendering factor. Some individuals develop complex regional pain syndrome CRPS due to any injury or trauma, that may involve fractures, sprains, soft tissue injury and limb immobilization. Hence, the above mentioned factors will play major role in the growth of spinal cord stimulation devices market.
U.S. is forecasted to dominate the North America spinal cord stimulation devices market growth. As per the American Chiropractic Association, around 31 million people in the U.S. suffer from low back pain. Also, some of the experts state that almost 80% people in the U.S. will experience back pain in their lifetime. Rise in prevalence of spinal trauma and back pain in the region will augment the industry growth in the upcoming years.
India spinal cord stimulation devices is estimated to show robust growth over the forecast time period. As per the recent research article, around 20% of the in age group 16 – 34 years of age are treated for back and neck conditions in the country. Increase in number of people opting for neck and back pain in the country will enhance the demand and adoption rate of the spinal cord stimulation devices, fueling the market growth.
Some of the significant industry players of spinal cord stimulation devices market are St. Jude Medical (Abbott), Inc., Boston Scientific Corporation, Medtronic among others. These players mainly focus on strategic alliances, new product approvals, developments and launch as their primary market expansion strategies.
Spinal Cord Stimulation Devices Market, By Product, 2014-2025 (USD Million)
Spinal Cord Stimulation Devices Market, By Application 2014-2025 (USD Million)
- Failed back syndrome
- Complex regional pain syndrome
- Degenerative disk disease
- Unsuccessful disks surgery
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Boston scientific corporation
- Nevro corp
- Synapse biomedical
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