Press release
Spinal Cord Stimulation Market on Track for Strong Growth, Estimated to Grow at 8.7% CAGR Through 2029
Spinal Cord Stimulation
What Is the Expected CAGR for the Spinal Cord Stimulation Market Through 2025?
The domain of spinal cord stimulation has experienced robust expansion lately, projected to escalate its market valuation from $3.14 billion in 2024 to $3.41 billion by 2025, reflecting an annual compounded growth rate of 8.5%; this preceding period's upward trajectory stems from factors such as an expanding elderly demographic, the heightened incidence of persistent pain conditions, greater recognition surrounding spinal cord stimulation methods, and the increasing preference for treatment modalities that avoid invasive procedures for pain control.
What's the Projected Size of the Global Spinal Cord Stimulation Market by 2029?
Anticipating a robust expansion trajectory, the market encompassing spinal cord stimulation is projected to achieve a valuation of $4.76 billion by the year 2029, exhibiting a Compound Annual Growth Rate (CAGR) of 8.7% throughout the forthcoming period. This upward momentum across the forecast horizon is fundamentally driven by several key factors, including the pioneering of novel stimulation methodologies, a broadening scope of conditions treated by spinal cord stimulation, increasing preference for procedures that require minimal surgical intervention, heightened financial allocations toward research and innovation, and supportive reimbursement frameworks. Within this same timeframe, several significant shifts are becoming apparent: artificial intelligence is increasingly being incorporated into spinal cord stimulation apparatus, stimulation techniques that negate the need for anesthesia are gaining traction, there is a strategic concentration on deepening market penetration within developing nations, rechargeable stimulation units are becoming more prevalent, and product creation is increasingly prioritizing solutions centered around individual patient needs.
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Top Growth Drivers in the Spinal Cord Stimulation Industry: What's Accelerating the Market?
Anticipated expansion in persistent spinal cord injury cases is poised to drive forward the expansion of the spinal cord stimulation sector. Such injuries involve harm to the spinal cord itself or the nerves located toward the termination of the spinal canal, frequently stemming from both violent incidents and accidents occurring at home. Spinal cord stimulation serves as a treatment modality for these injuries, involving the application of low-voltage electrical current directly to the spinal cord to achieve pain reduction. To offer context, data from the National Library of Medicine, a US governmental resource, indicated in May 2022 that between 250,000 and 500,000 individuals globally experienced new spinal cord injuries each year; furthermore, approximately 17,000 fresh cases are documented yearly within the United States, accounting for an estimated 282,000 survivors of spinal cord injuries across the nation. Consequently, the escalating frequency of spinal cord trauma is fueling the upward trajectory of the spinal cord stimulation market.
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What Trends Will Shape the Spinal Cord Stimulation Market Through 2029 and Beyond?
Advancements in technology represent a significant trend gaining traction within the spinal cord stimulation sector, compelling key market participants to concentrate on engineering sophisticated solutions to maintain their competitive edge; for example, in December 2022, US-based medical device manufacturer Abbott Laboratories released the Eterna system for chronic spinal cord stimulation treatment, which stands as the smallest rechargeable, implantable spinal cord stimulator presently available for chronic pain management, featuring Abbott's BurstDR stimulation-the sole SCS waveform technology possessing the strongest clinical substantiation (1A evidence)-demonstrated to yield a 23 percent superior pain reduction compared to standard waveform approaches.
What Are the Main Segments in the Spinal Cord Stimulation Market?
The spinal cord stimulationmarket covered in this report is segmented -
1) By Product: Rechargeable; Non-rechargeable
2) By Application: Failed Back Surgery Syndrome (FBSS); Degenerative Disc Disease (DDD); Complex Regional Pain Syndrome (CRPS); Arachnoiditis; Other Disease Indications
3) By End User: Hospitals; Ambulatory Surgery Centers; Specialty Clinics
Subsegments:
1) By Rechargeable: Implantable Pulse Generators (IPGs); Rechargeable Lead Systems
2) By Non-Rechargeable: Non-Rechargeable Implantable Pulse Generators (IPGs); Non-Rechargeable Lead Systems
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Which Top Companies are Driving Growth in the Spinal Cord Stimulation Market?
Major companies operating in the spinal cord stimulation market include Abbott Laboratories, Medtronic PLC, Stryker Corporation, Boston Scientific Corp., LivaNova PLC, Globus Medical Inc., ZimVie Inc., Avanos Medical Inc. , Nevro Corp., Axonics Modulation Technologies Inc., SPR Therapeutics Inc., BlueWind Medical, Bioness Inc., Saluda Medical Pty. Ltd., Soterix Medical Inc., Synapse Biomedical Inc., NeuroMetrix Inc., NDI Medical LLC, Neuros Medical Inc., Cirtec Medical Corp., Mainstay Medical International plc, Gimer Medical
Which Regions Will Dominate the Spinal Cord Stimulation Market Through 2029?
North America was the largest region in the spinal cord stimulation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the spinal cord stimulation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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