The Spinal Cord Stimulation Market size in North America was worth USD 1074.88 million in 2022 and estimated to reach USD 1605.85 million by the end of 2027, with a growing potential of 8.36%. North America has the highest share in the market due to top manufacturers in the region.
The Spinal Cord Stimulation Market in North America is majorly driven by a growing number of patients suffering failed back syndrome, complex regional pain syndrome, and chronic pain. Also, the expansion of the north spinal cord stimulation market is boosted by the growing acceptance rate of spinal cord stimulation due to its non-invasive nature, a considerable decrease of specific pains, and low or no side effects. However, the availability of advanced healthcare infrastructure and growing adoption of technological advancements in Spinal cord stimulation devices is expected to influence the market growth. In addition, increasing investments and funding by government and private organizations are encouraging new market participants. Aside from that, the market is growing due to an increase in the number of SCS implantations. According to the Centers for Disease Control and Prevention, about 50 million individuals in the United States suffer from chronic pain, creating a massive market for SCS. In addition, the US is witnessed new product launches by the major companies, which uplift the market expansion.
Furthermore, the market is anticipated to expand due to broad knowledge of spinal cord stimulation therapy, the Availability of well-established healthcare institutions, and experienced doctors in these settings. However, the emerging guidelines by the government for Spinal cord stimulation procedures, also the adoption of minimally invasive therapies are projected to propel the market growth. Even though spinal cord stimulation is the most well-known neuromodulation therapy, its applications are continuously developing. The International Neuromodulation Society defines Neuromodulation Society as a therapeutic contact with the central, peripheral, or autonomic nervous system by focused electrical stimulation or pharmaceutical administration from implanted devices. Furthermore, rising interest in spinal cord stimulators is likely to drive the market during the forecast period, as they minimize the need for opioids and other pain-relieving medications.
The primary issue restricting the growth of the global spinal cord stimulation market is the high costs associated with operations. Also, the Unfavourable laws and regulatory framework are important issues for key companies and other stakeholders in the industry, which is stifling the North American spinal cord stimulation market growth.
This research report on the North America Spinal Cord Stimulation Market has been segmented & sub-segmented into the following categories:
By Product Type:
By End Users:
Geographically, the North American SCS market dominated the global market, and it is projected to account for substantial growth during the forecast period. The market growth in the region is attributed to the growing number of patients with chronic pain, CRPS, and failed back syndrome across the region. In addition, other factors such as advancing healthcare infrastructure, increasing awareness among the people about spinal cord stimulation therapy, and the availability of highly skilled healthcare professionals are expected to augment the market growth. One of the main reasons driving the growth of the spinal cord stimulation market in North America is the region's favorable health reimbursement regulations. In addition, governments have adopted several policies across North America to encourage the growth of healthcare infrastructure. These also allow the seamless development of novel spinal cord stimulation therapies, which is expected to boost the regional market's growth rate. Large market players such as the U.S. and Canada are majorly contributing to the North American regional market growth. In the regional market, the U.S. dominated the Spinal Cord Stimulation Market with a significant market share over the forecast period. The presence of well-established healthcare facilities and rising adoption of technologically advanced products in the hospital segment are propelling the market growth in the United States.
KEY MARKET PLAYERS:
A few major companies operating in the North America Spinal Cord Stimulation market are Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, and Stimwave.
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