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Spinal Cord Stimulation Market Size, Share and Global Trend By Product (Implantable Pulse Generator, Radiofrequency System), Disease Indication (Failed Back Syndrome, Degenerative Disk Disease, Complex Regional Pain Syndrome, Arachnoiditis), End Users (Hospital, Ambulatory Surgical Centers, Specialty Clinics) and Geography Forecast till 2025

Region : Global | Latest Update: Jul, 2019 | Published Date: May, 2019 | Report ID: FBI100313| Status : Published

 

KEY INDUSTRY INSIGHTS

The Global Spinal Cord Stimulation Market, which was valued at US$ 2,268.9 Mn in 2018, is projected to reach US$ 4,236.2 Mn by the end of 2026, exhibiting a CAGR of 8.1%. Neuromodulation is an emerging therapy involving targeted delivery of electromagnetic or chemical stimulation to a specific neurological area in the body. One of the neuromodulation technique is spinal cord stimulation which involves the delivery of electrical stimuli to the spinal cord resulting in masking of pain. Spinal cord stimulation is receiving increased worldwide attention which can be attribute to the emerging government guidelines for spinal cord stimulation treatment procedures.

Furthermore, the market is boosted by the introduction of rechargeable pulse stimulator which is less costly than non-rechargeable pulse stimulators. The use of spinal cord stimulators reduces the intake of opioids and other pain-relieving drugs. The emerging applications of spinal cord stimulation for pain management are likely to accelerate its growth in the forecast duration.

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Implantable Pulse Generator Dominate the Global Spinal Cord Stimulation Market 

The implantable pulse generator segment dominated the spinal cord stimulation market with a dominating share in 2018. The cost-effectiveness of rechargeable pulse generator has resulted in greater preference and higher sales volume of implantable pulse generator. Furthermore, the launch of new products in the market such as Spectra WaveWriter in Europe, Intellis in Canada, and others have made rechargeable implantable pulse generator as the fastest growing segment.  

In terms of disease indication, the spinal cord stimulation market is categorized into Failed Back Syndrome (FBS), Degenerative Disk Disease (DDD), Complex Regional Pain Syndrome (CRPS), arachnoiditis and others.  The Failed Back Syndrome (FBS) segment is estimated to have a major portion of the spinal cord stimulation market owing to increased government efforts to develop a new therapy for chronic back pain and increased prevalence across the globe. Various end users covered under the report are hospitals, ambulatory surgical centers, specialty clinics.

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North America to Dominate the Global Spinal Cord Stimulation Market  

North America was dominating the global spinal cord stimulation market with a maximum revenue of US$ 1,086.7 Mn in 2018 and will continue to remain a dominating segment throughout the forecast period. Emerging government guidelines and favorable health reimbursement are the factors responsible for the expansion of the spinal cord stimulation market in North America during 2018-2026. Europe is anticipated to be the second most prominent region in terms of revenue by 2026. The launch of Spectra WaveWriter spinal cord stimulator system by Boston Scientific Corporation in January 2019 is poised to surge the growth in spinal cord stimulation market in Europe. Asia Pacific is projected to register the highest CAGR during the forecast period owing to the higher demand and rapid adoption due to the increased presence of the ageing population in this region.

North America Spinal Cord Stimulation Market, 2018

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Boston Scientific Corporation and Abbott to Account for More Than Half of the Market Share in Terms of Revenue

Boston Scientific Corporation and Abbott hold a major portion of the spinal cord stimulation market owing to strategic acquisition by Abbott and new product launch by Boston Scientific Corporation. In January 2017, Abbott completed the acquisition of St. Jude Medical, Inc., which resulted in the acquisition of spinal cord stimulation and other products and increased the market share of Abbott in the global spinal cord stimulation market. Other players operating in the global spinal cord stimulation market are Medtronic, Stimwave LLC, Nevro Corp., Nuvectra and other players 

Report Overview 

Spinal cord stimulation is one of the neuromodulation technique in which electrical impulses are delivered to the spinal cord in order to mask the pain signal. The introduction of MRI conditional spinal cord stimulators, favorable health reimbursement, emerging government guidelines and positive recommendations are the major factors for the increased demand for spinal cord stimulation therapy. Also, the significant reduction in the intake of opioid medications has increased the preference for spinal cord stimulators among the patients.

The report provides qualitative and quantitative insights on the spinal cord stimulation industry and detailed analysis of market size and growth rate for all possible segments in the market. The market is segmented by product type, disease indication, and end user. Based on product, the global spinal cord stimulation market is segmented into implantable pulse generator and radiofrequency system. The implantable pulse generator segment can be further classified into rechargeable and non-rechargeable. In terms of disease indication, the market is categorized into Failed Back Syndrome (FBS), Degenerative Disk Disease (DDD), Complex Regional Pain Syndrome (CRPS), arachnoiditis, and others. Various end users covered under the report are hospitals, ambulatory surgical centers, and specialty clinics. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries. 

Along with this, the report provides elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the prevalence of chronic back pain for key countries, new product launch, regulatory scenario for key countries, global reimbursement overview, recent industry developments such as mergers & acquisitions and key industry trends.

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 Key segments within the market 

 SEGMENTATION

 DETAILS

By Product

·   Implantable Pulse Generator

·   Rechargeable

·   Non-rechargeable

·   Radiofrequency System

By Disease Indication

·   Failed Back Syndrome (FBS)

·   Degenerative Disk Disease (DDD)

·   Complex Regional Pain Syndrome (CRPS)

·   Arachnoiditis

·   Others

By End User

·   Hospital

·   Ambulatory Surgical Centers

·   Specialty Clinics

By Geography

·   North America (USA and Canada)

·   Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)

·   Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

·   Latin America (Brazil, Mexico and Rest of Latin America)

·   Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

 

Key companies covered in the report

  • Medtronic
  • Abbott
  • Boston Scientific Corporation
  • Stimwave LLC
  • Nevro Corp. 
  • Nuvectra
  • Other players

Spinal Cord Stimulation Market Size, Share and Global Industry Trend Forecast till 2026
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