The Spinal Cord Stimulation Market size in the Asia Pacific is estimated to be worth USD 354.62 million by 2027 and USD 219.39 million in 2022, growing at a CAGR of 10.08% from 2022 to 2027. Asia-Pacific region is accounted to have the highest CAGR over the forecast period due to increasing pain prevalence.
The market is expected to expand as the frequency of failing back syndrome and complicated regional pain syndrome rises. After spinal surgery for back or leg discomfort, failed back syndrome develops as persistent pain. The discomfort may go away after spinal surgery, or the disease may worsen when scar tissue forms around the spinal nerve roots. Apart from this, the growing number of Spinal cord stimulators implementations are propelling the market growth. The demand for spinal cord stimulation in Asia is likely fuelled by rapid technical developments in spinal cord stimulation devices.
The other significant factors, such as favorable reimbursement policies, the growing geriatric population, and increasing investment by the government and non-government organizations in the healthcare sector, propel the market growth during the forecast period. In addition, by suppressing pain before it reaches the brain, the spinal cord stimulation device is used to treat patients who have had little success with spine operations. As a result, an increase in patients suffering from chronic pain following surgery is expected to boost product demand throughout the forecast period.
Spinal cord stimulation has been used in treatment for almost 50 years now. The sophistication of the technology and our awareness of how to utilize it effectively have both advanced substantially. In treating clients with refractory neuropathic pain, high-quality, randomized, comparative clinical studies have demonstrated clear clinical and cost-effectiveness. According to the Centre for Disease Control and Prevention, the surge inpatient rate with chronic pain provides various growth opportunities for the SCS market.
However, factors such as high costs associated with operations are expected to hamper the growth rate of the APAC SCS market. In addition, unfavorable laws and regulatory frameworks are another important issues for key companies and other stakeholders in the industry, which is stifling the spinal cord stimulation market growth in the region.
This research report on the Asia Pacific Spinal Cord Stimulation Market has been segmented & sub-segmented into the following categories:
By Product Type:
By End Users:
Geographically, the APAC Spinal cord stimulation market is estimated to account for a substantial share in the global market during the forecast period. The APAC regional market for Spinal Cord Stimulation Market is projected to be fuelled by raising awareness among the people about spinal cord stimulation therapy, qualified healthcare professionals, and the advancing healthcare sector in the region. Also, the government's favorable reimbursement programs and initiatives for the development of healthcare infrastructure are most propelling the market growth in the region. However, significant growth contributors in the region such as China, India, and Japan are expanding the APAC regional market growth. In the APAC regional market, China dominated the spinal cord stimulators market with a significant market share. China has witnessed technological advancements in the healthcare sector, proving a way for the new market players. On the other hand, the rising number of patients suffering from neuropathic pain following spinal operations and persistent pain in the legs, arms, and feet resulting from trauma and accidents drive the Indian spinal stimulation market.
KEY MARKET PLAYERS:
Notable companies leading the APAC Spinal Cord Stimulation market are Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, and Stimwave.
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