Spinal Cord Stimulators Market: Global Outlook and Forecast (2023-2030)

The market size of Spinal Cord Stimulators (SCS) reached a staggering USD 1.9 billion in 2021, and it is expected to continue its impressive growth trajectory at a CAGR of 8.5 percent during the forecast period.As chronic pain becomes more prevalent due to a rise in accidents and traumas associated with spinal operations and treatments, the demand for spinal cord stimulators is anticipated to rise exponentially. This innovative neuromodulation tool, also known as the dorsal column stimulator, is implanted in the body to treat chronic pain by blocking pain signals and altering pain impulses before they reach the brain. With technological advancements, increasing awareness, and government support, the market for spinal cord stimulators is positioned to expand even further.

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ABeacon of Hope for Chronic Pain Sufferers

Chronic pain is a persistent and debilitating condition affecting millions of people worldwide. According to the National Spinal Cord Injury Statistical Centre, the prevalence of chronic disorders has nearly doubled in recent years. Each year, the U.S. reports 54 cases of spinal cord injuries (SCI) per million people, primarily caused by accidents and trauma.As the number of individuals suffering from chronic pain increases, the market for spinal cord stimulators is projected to experience substantial growth.

The Impact of COVID-19 on the SCS Market

The outbreak of COVID-19 had significant repercussions on elective and non-urgent medical treatments across the globe. Operations and procedures were delayed due to government mandates, which temporarily slowed down the expansion of the spinal cord stimulator market. Nevertheless, as the situation stabilizes, the demand for these devices is expected to rebound swiftly.

Drivers Fueling the Market Growth

1. Growing Elderly Population and ChronicAilments

With the demographic shift leading to an aging population, there is an increasing incidence of chronic ailments like neurological disorders. The Department of Economic and SocialAffairs Population Division of the United Nations predicts a quadruple increase in the global population aged 60 and older in the next 30 years. This demographic change is driving the demand for spinal cord stimulators, as elderly individuals are more susceptible to chronic pain.

2. Ongoing Research and Development

Investments in research and development are propelling the spinal cord stimulation market to new heights. Breakthroughs in intelligent spinal interfaces and neurostimulation therapies for spinal cord injuries are revolutionizing the treatment landscape for paralyzed individuals. With ongoing advancements, more opportunities for expanding the market are on the horizon.

Market Restraints to Overcome

1. High Cost and Implantation Complications

While spinal cord stimulators offer hope to chronic pain sufferers, the high cost of implantation, along with possible complications affecting a significant percentage of patients, poses challenges. Efforts to address these concerns will be critical in sustaining market growth.

Segment Overview

1. Rechargeable Products Gaining Ground

Rechargeable spinal cord stimulator devices are expected to witness rapid growth due to their cost-effectiveness, adaptability, and pain management capabilities through wireless remote procedures. The affordability of these devices and the increasing number of patients seeking relief from chronic and neuropathic pain are driving the segment's success.

2. Dominance of Complex Regional Pain Syndrome (CRPS)

The CRPS segment holds a dominant position in the market due to the large number of patients suffering from chronic pain. CRPS is often associated with nerve injuries that regulate blood flow and body temperature, leading to skin tone and temperature changes. As the number of CRPS cases continues to rise, the demand for spinal cord stimulators will follow suit.

Regional Landscape

1. NorthAmerica Leading the Charge

NorthAmerica currently leads the global market for spinal cord stimulators, driven by an increasing prevalence of chronic pain and neurological disorders. The presence of wellestablished healthcare facilities, qualified medical professionals, and awareness about spinal cord stimulation therapy further contribute to the region's dominance.

2.Asia Pacific with the Highest Growth Potential

Asia Pacific is expected to exhibit the highest CAGR during the forecast period, primarily due to its large population of senior citizens and the growing adoption of neuromodulation therapy. Other regions, including the Middle East andAfrica, LatinAmerica, and others, show significant growth potential, driven by the rising prevalence of chronic back pain and demand for minimally invasive therapies.

Key Players in the Market

Several companies are spearheading the spinal cord stimulator market, including Medtronic Public Limited Company, Boston Scientific Corp, St Jude Medical LLC, Nevro Corp,

Nuvectra Corporation, Stimwave, Synapse Biomedical Inc., Neurosigma Inc.,Abbott Laboratories, Bluewind Medical, Beijing PINS Medical Co., Ltd, Cirtec Medical Corporation, Gimer Medical, Bioinduction, Greatbatch, Inc., and Saluda Medical Pty Ltd.

Conclusion

The spinal cord stimulator market is on an upward trajectory, poised for remarkable growth in the coming years.As the prevalence of chronic pain rises, and research and development lead to groundbreaking innovations, spinal cord stimulators will continue to be a beacon of hope for chronic pain sufferers. The market's potential is vast, and with the support of the healthcare industry, government initiatives, and technological advancements, it will thrive and improve the lives of countless individuals.

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