Spinal Cord Stimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

  • Single User License $3500

Spinal Cord Stimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : January, 2022 | Medical Devices

Report Digest


Global Spinal Cord Stimulation Devices Market: Overview

Spinal cord stimulation devices are effective way of pain relief technique, which works through passing a low voltage electric current to the spinal cord. This process packs the pain signals before reaching the brain and thus avoids the painful sensation. However, these devices are not new to use for spinal cord stimulation therapy. These devices have underwent robust research and development, for sharpening the technology. In addition, increasing government support in the form of reimbursements for devices, new product launches, and wireless remote technique, which are reflecting in terms of growth of the market.

Global Spinal Cord Stimulation Devices Market: Companies Mentioned

Some of the players operating in the global spinal cord stimulation devices market are Boston Scientific Corp., NeuroSigma, Inc., Medtronic PLC, Nevro Corp., Synapse Biomedical, Inc., and Stimwave LLC. The market is estimated to gain benefit from the new product launches, patent approvals, and regulatory approvals from the governmental bodies.

For instance, in 2019, the Nevro Corp has received motion for preliminary injunction. However, the local US court has issued a stay order for Stimwave Technologies, Inc., from infringing patent claims for 3 kHz and 10 kHz by programming Stimwave's SCS systems. Such patent expiration and newer approvals are leading to benefit other companies; thus, the players are looking to improve their products offerings.

However, strict criteria’s for approving the newer techniques is creating barrier in the growth way of the major companies such as Saluda Medical. The company is facing hurdle for getting its spinal cord stimulation device approved by regulators in the US and Australia.

Global Spinal Cord Stimulation Devices Market: Drivers and Restraints

Surge in number of people suffering from several diseases such as chronic pain, failed back syndrome, and Complex Regional Pain Syndrome (CRPS) is creating need for newer technologies for better treatment. This is a key factor propelling growth of the global spinal cord stimulation devices market. The CRPS condition is known for chronic pain of limb majorly after injuries. The National Institute of Neurological Disorders and Stroke (NINDS), suggests that the symptoms of CRPS are majorly found in women of any age and 90.0% of the cases are occurred due to trauma and injury. Thus, increase in number of patients having chronic pain is leading to boost the market growth and is estimated to drive the market in coming years. Additionally, advent of technological advancement coupled with rising awareness among people toward health is driving growth of the global spinal cord stimulation devices market.

Global Spinal Cord Stimulation Devices Market: Geographical Analysis

Based on the region, the spinal cord stimulation devices market is segmented in to five parts such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Of these, North America is anticipated to dominate the spinal cord stimulation devices market in coming years. This growth is attributable to the increased prevalence of chronic pain, CRPS, and failed back syndrome. Additionally, the factors such as increase in awareness about presence of spinal cord stimulation therapy, presence of well-established healthcare facilities along with continuously evolving technologies, and availability of highly skilled doctors and operators are estimated to drive the regional market in coming years. Further, earliest adoption of technologically advanced products is estimated to push the growth of market. However, the Asia Pacific region is expected to witness the highest CAGR owing to surge in number of patients of neuropathic pain especially after the spinal surgeries coupled with chronic pain in arms, legs, and foot. 

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?