The global scs market size was worth USD 1,871.6 Million in 2020 and estimated to reach USD 2,827.4 Million by the end of 2025, with a growth potential of 8.6% CAGR during the forecast period.
Spinal cord stimulation blocks the sensation of pain by using a low voltage stimulation to like a mild tingling in the area of pain. It helps the patients to manage symptoms better and will potentially decrease the use of pain medications. It may also be an option if you have arm pain or chronic leg and have not found relief with other therapy's spine. It is a small device implanted in the body to transmit an electrical current to the spinal cord. When it turns on, the stimulation feels.
MARKET DRIVERS:
The factor that is significantly boosting the global spinal cord stimulation (SCS) market is the continually growing number of patients affected with chronic pain and neuropathic pain in arms, foot, and legs due to injuries and trauma after going through spinal surgeries. The increasing adoption rate of spinal cord stimulation due to its non-invasive nature, significant reduction of targeted pains, and minimal or no side effects boost the growth of the global spinal cord stimulation market.
Increasing the adoption of technologically advanced SCS devices is contributing to the growth of the overall market. Other key factors driving the development of the global spinal cord stimulation market are medical professionals' availability, availability of healthcare facilities, increasing awareness among people regarding available therapies for stimulation of the spinal cord.
MARKET OPPORTUNITIES:
Increasing focus of public and private sectors in various developed and developing countries for research and development activities in spinal cord stimulation are supposed to provide lucrative growth opportunities to key market players in the spinal cord stimulation market during the forecast period across the world.
Increasing demand for non-invasive surgery techniques due to patient preference for comfort is likely to boost opportunities for the growth of the spinal cord stimulation market. Also, continually increasing the account of neurological disorders and spinal cord injuries is expected to provide several options for developing the global spinal cord stimulation market.
Growing economies of developing countries like India, China and the rising prevalence of chronic diseases in these regions are likely to create lucrative opportunities for the key players during the forecast period.
MARKET CHALLENGES:
High costs associated with the surgeries are the major challenge limiting the growth of the global spinal cord stimulation market. Another major challenge for the key players and other stakeholders in the industry is unfavorable rules and regulatory framework, which is resisting the growth of the worldwide spinal cord stimulation market.
Impact of COVID-19 on the global spinal cord stimulation market:
COVID-19 pandemic impacted every market at some extend level across the globe. As same as the spinal cord stimulation market has also been affected by the COVID-19 pandemic. During the lockdown days, there is a rapid rise of government supportiveness by new initiative steps. Every market is trying to fight against COVID-19 up to their level best to rid of this terrific virus.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Product Type, Application, End Users and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global spinal cord stimulation market has been segmented and sub-segmented based on the product type, application, end-user, and region.
Spinal Cord Stimulation Market - By Product Type:
Based on product type, the Rechargeable device segment is dominating the market and is likely to grow at a brisk pace during the estimated period due to the benefits associated with the rechargeable devices such as wireless controlling, flexibility, cost control, and these devices can block neuropathic pain and easy to replace the battery.
Spinal Cord Stimulation Market - By Application:
Based on application, the CRPS segment is leading the global spinal cord stimulation market by contributing a significant share of revenues to the market and is expected to witness substantial growth during the forecast period owing to the factors such as the broad base of patients affected with chronic pains due to trauma, limb mobilization, or injuries occurred to soft tissues.
The degenerative disk disease segment contributes a significant share of revenues to the Global Spinal Cord Stimulation Market. It is likely to be growing rapidly over the prediction period due to the rising patient pool of such diseases.
Spinal Cord Stimulation Market - By End User:
Spinal Cord Stimulation Market - By Region:
Among all those regions, North America has the highest share in the market, followed by Europe and Asia-Pacific, due to the presence of top manufacturers in the area. Some of the attributing factors in the spinal cord stimulation market are the rise of supportiveness from the government by launching new products and providing various reimbursement policies in favor of the public. Additionally, there is huge popularity in the North American region over the availability of different treatment processes. Moreover, there is a technology which is so advanced in the North American area.
Asia-Pacific is accounted to have the highest CAGR over the forecast period owing to the increasing prevalence of pain. Growth in the aging population, the rise in the incidences of cancer-related diseases. Moreover, the presence of contributing countries like China and India due to the high population, the increase of investments in R&D activities of life sciences.
In upcoming years, anticipating that the European region will have robust growth due to the increase in the adoption rate in treatment procedures of latest techniques, growing prevalence for improving healthcare quality.
KEY MARKET PLAYERS:
Notable companies leading the global spinal cord stimulation market profiled in the report are Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, and Stimwave.
RECENT HAPPENINGS IN THIS MARKET:
In February 2020, the spine and nerve center organization has released the results of their double-blind trials; the results suggest that the ESAP-controlled closed-loop spinal cord stimulation is more effective than open-loop stimulation. The responder threshold of leg pain and back pain is enhanced in patients who underwent through closed-loop stimulation.
In Feb 2020, the researchers have conducted studies for analyzing the durability and efficacy of BurstDR spinal cord stimulation device in analgesic consumption and abdominal pain reduction. They have reviewed the patients' medical records that affected different diseases related to abdominal pain. After completing the trial stimulation period, the researchers collected the data from those three patients. The data results showed that two patients are entirely relieved from pain within two years, while the third patient still showed signs of illnesses with less frequency severity.
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Application
5.1.1 Introduction
5.1.2 Degenerative Disk Disease (DDD)
5.1.3 Failed Back Syndrome (FBS)
5.1.4 Unsuccessful Disk Surgery
5.1.5 Complex Regional Pain Syndrome (CRPS)
5.1.6 Multiple Back Operations
5.1.7 lumbar adhesive Arachnoiditis
5.1.8 Y-o-Y Growth Analysis, By Application
5.1.9 Market Attractiveness Analysis, By Application
5.1.10 Market Share Analysis, By Application
5.2 Product Type
5.2.1 Introduction
5.2.2 Non-Rechargeable
5.2.3 Rechargeable
5.2.4 Y-o-Y Growth Analysis, By Product Type
5.2.5 Market Attractiveness Analysis, By Product Type
5.2.6 Market Share Analysis, By Product Type
5.3 End-users
5.3.1 Introduction
5.3.2 Hospitals
5.3.3 Ambulatory Surgery Centers (ASC’s)
5.3.4 Clinics
5.3.5 Y-o-Y Growth Analysis, By End users
5.3.6 Market Attractiveness Analysis, By End users
5.3.7 Market Share Analysis, By End users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Application
6.1.3.3 By Product Type
6.1.3.4 End users
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Application
6.1.4.3 By Product Type
6.1.4.4 By End users
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Application
6.1.5.3 By Product Type
6.1.5.4 By End users
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Boston
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Medtronic
8.3 Nevro
8.4 St. Jude Medical
8.5 Greatbatch
8.6 Stimwave
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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