The Spinal Cord Stimulation Market size in Europe was worth USD 306.46 Billion in 2022 and estimated to reach USD 474.99 million by the end of 2027, with a growing potential of 9.16%.
The European spinal cord stimulation market is expected to be driven by eth factors such as increasing degenerative disc diseases and chronic pain cases. Also, technological advancements are supporting the Spinal cord stimulation market. Furthermore, the rapid adoption of minimally invasive surgeries in the recent past has favored market growth.
The increasing number of spinal cord stimulation implantations and advancing the healthcare sector are uplifting the market growth. The growing geriatric population boosts market growth as the older population is vulnerable to various chronic pain and degenerative disc diseases. The ongoing research and development activities in spinal stimulation are expected to provide lucrative growth opportunities to the market growth. Increasing investment and funding by the government and manufacturers in research and development activities to reduce the size of spinal cord stimulators and the development of healthcare infrastructure encourages market growth.
Moreover, the increasing awareness among people about the advantages of spinal cord stimulation systems for better pain management is expected to accelerate the market growth. The benefits of the spinal cord stimulation systems are the cost-effectiveness of the spinal cord stimulation system compared to other pain management surgeries. Further, it increases the demand for the spinal cord stimulation system and drives the European market. Y-O-Y increasing number of neurological disorders and spinal cord injuries in the countries such as France, the UK, and Italy are expected to contribute to the regional market expansion.
Key players in the region are implementing various strategies to gain a competitive advantage over the marketplace. The strategies include partnerships, mergers, and acquisitions. In addition, the major companies are introducing the innovative system.
However, the high cost of devices and the complications associated with the spinal cord stimulator implantation hamper the market growth.
This research report on the European spinal cord stimulation market has been segmented & sub-segmented into the following categories:
By Product Type:
By End Users:
Europe recorded the second-largest share of the spinal stimulation market, and it is anticipated to continue its dominance during the forecast period. The market growth is driven by favorable reimbursement policies, well-established healthcare infrastructure, and the presence of key market players. In addition, the increased focus of government to reduce dependence on opioids and shifting towards non-opioid alternative therapies, and increasing FDA approval in the region are accelerating the market growth.
The UK recorded the largest share of the market, and it is expected to register a prominent share during the forecast period. The high presence of the senior population, government guidelines, and increased healthcare spending is propelling the market growth.
Similarly, Germany is estimated to witness a promising share in the market. The market growth is fuelled by technological advancements, Growing demand for minimally invasive therapies, and rapid adoption of neuromodulation and
On the other hand, the emerging countries Italy, France, and Spina are projected to showcase promising spinal cord stimulation market shares. The increasing incidence of chronic pain cases, growing population, increasing investments in research and development activities are fuelling the market growth. In addition, raising awareness, improving healthcare infrastructure, and supportive government policies contribute to market growth.
KEY MARKET PLAYERS:
Some of the key companies operating in the European Spinal Cord Stimulation market are Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, and Stimwave.
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