The Spinal Cord Stimulation Market size in the Middle East and Africa was worth USD 187.10 million in 2022 and estimated to reach USD 261.19 million by the end of 2027, showcasing a CAGR of 6.9%.
Growing senior populations, new product launches by key market participants, an increase in the number of patients suffering from spinal cord injuries, and favorable reimbursement and insurance acceptance processes are the major driving factors for the spinal cord stimulation market in the Middle East and Africa.
Over the forecast period, the rising number of patients suffering from spinal cord injuries is likely to fuel market growth. According to the World Health Organization, between 250,000 and 500,000 persons worldwide suffer from spinal cord injuries each year. Because of an increase in the incidence of spinal cord injuries, neurological disorders, and chronic back pain, the market for spinal cord stimulation in the Middle East and Africa is rising.
Furthermore, continued research and development in the spinal cord stimulation market are expected to grow the business and give more benefits during the projected period. As a result, the expanding geriatric population is driving the market, as they are more prone to chronic ailments, including neurological disorders. The government is offering additional assistance in the form of devices, new product launches, and wireless remote technologies, all of which are helping the market to expand. In addition, favorable spinal cord stimulation therapy policies are expected to boost the market's healthy expansion. Many government agencies are issuing standards for treating chronic pain and other symptoms of illness, which will aid the industry's growth. In the case of spinal cord stimulation therapy, however, discoveries and gadgets are on the horizon. To improve the technology, these gadgets underwent substantial research and development.
Spinal cord stimulation devices work by transmitting a low-voltage electric current via the spinal cord to relieve pain. Pain impulses are compressed before reaching the brain, preventing painful sensations. The growth of this regional market is likely to be aided by the growing senior population. In addition, many countries are encountering issues due to the ongoing and increasing demographic change in the population. On the other hand, the market's expansion will be limited by the high cost of equipment, problems associated with spinal cord stimulator implantation, and time-consuming regulatory clearances.
This research report on the Middle East and Africa spinal cord stimulation market has been segmented & sub-segmented into the following categories:
By Product Type:
By End Users:
The Middle East and Africa had a moderate share of the worldwide market geographically in 2020. However, the market is expected to grow due to the increased incidence of the degenerative disc disease and chronic pain in the region. Companies that employ innovative techniques will expand their market in the region more swiftly.
During the forecasted time, the Middle East and Africa are likely to engulf countries like the United Arab Emirates and Kuwait. The sector is expected to gain from the expanding senior population in MEA and the rapid rise of spinal cord stimulation in these countries. In addition, the growing need for less invasive solutions in the region will move the business forward.
Governments across MEA have devised several measures to support the creation of healthcare infrastructure. Additionally, these assist in the development of new spinal cord stimulation therapy. This is expected to increase the rate of growth in the regional market.
Rechargeable devices are expected to be the fastest-growing product in the UAE over the projected period due to their cost-effectiveness, adaptability, and control of pain management and wireless remote techniques. This device alleviates neuropathic pain by delivering mild electrical stimulation to the spinal cord near painful areas. In addition, it comes with a battery that can be easily replaced via surgery.
KEY MARKET PLAYERS:
Companies like Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, and Stimwave dominate the MEA Spinal Cord Stimulation Market.
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