{"product_id":"global-spinal-cord-stimulation-market-2023-2030","title":"Global Spinal Cord Stimulation Market - 2023-2030","description":"\u003cp\u003eGlobal Spinal Cord Stimulation Market - 2023-2030\u003cbr\u003e\nGlobal Spinal Cord Stimulation Market reached US$ XX billion in 2022 and is expected to reach US$ XX billion by 2030, growing with a CAGR of XX% during the forecast period 2023-2030.\u003c\/p\u003e\n\n\u003cp\u003eSpinal cord stimulation (SCS) is a relatively new technology that can help manage chronic pain when the cause cannot be treated completely or the injury cannot be repaired. Spinal cord stimulation therapy offers relief and improved daily functioning.\u003c\/p\u003e\n\n\u003cp\u003eSpinal cord stimulation uses a mild electrical current to stimulate certain nerve fibers in the spinal cord. Spinal cord stimulation helps in targeted pain relief. It is indicated as an aid in the management of chronic, intractable pain of the trunk and\/or limbs-including unilateral or bilateral pain. Spinal cord stimulation can improve overall quality of life and sleep and reduce the need for pain medicines.\u003c\/p\u003e\n\n\u003cp\u003eDynamics\u003c\/p\u003e\n\n\u003cp\u003eIncreased number of launches of advanced devices is expected to accelerate the market growth\u003c\/p\u003e\n\n\u003cp\u003eAdvanced spinal cord stimulators help provide efficient treatment to patients suffering from chronic pain, thus, increasing the demand for the devices and driving the market growth. For instance, on January 24, 2022, Medtronic Plc, a global leader in healthcare technology, introduced two highly advanced spinal cord stimulating devices, Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator for treating chronic pain associated with diabetic peripheral neuropathy (DPN).\u003c\/p\u003e\n\n\u003cp\u003eFurthermore, on October 12, 2022, Nevro Corp., a global medical device company that delivers comprehensive, life-changing solutions for the treatment of chronic pain, developed the Senza HFX iQ spinal cord stimulation (SCS) system. Senza HFX iQ is the first and only Artificial Intelligence-based SCS system that learns from patients.\u003c\/p\u003e\n\n \u003cp\u003eThe increase in the number of spinal cord injuries and the increase in the adoption of spinal cord stimulators by chronic disease patients as an alternative to medication are the additional factors that are expected to drive the market growth.\u003c\/p\u003e\n\n \u003cp\u003eHigh cost of the treatment procedure is expected to hinder market growth\u003c\/p\u003e\n\n  \u003cp\u003eThe high cost of the treatment can affect the market growth by allowing the patients to shift from spinal cord stimulation to other low-cost drugs and painkillers. According to a study funded by the Washington State Department of Labor and Industries, the average total medical costs of implanting a spinal cord stimulating system range from $19,246–$47,190 per patient.\u003c\/p\u003e\n\n \u003cp\u003eOther factors, such as complications associated with spinal cord stimulation and leakage in the spinal fluid, can hamper the market growth. Thus, it affects the market growth.\u003c\/p\u003e\n\n\u003cp\u003eSegment Analysis\u003c\/p\u003e\n\n\u003cp\u003eThe global spinal cord stimulation market is segmented based on device type, indication, end-user, and region.\u003c\/p\u003e\n\n\u003cp\u003eRechargeable implantable pulse generator segment holds a significant position in the market share\u003c\/p\u003e\n\n\u003cp\u003eThe increase in the number of approvals of rechargeable implantable pulse generators is expected to hold a significant position in the market growth. For instance, BIOTRONIK, on April 19, 2023, received U.S. Food and Drug Administration (FDA) approval for Prospera, a spinal cord stimulation (SCS) system. The system features RESONANCE, the first and only multiphase stimulation paradigm, paired with Embrace One™, a patient-centric care model that makes proactive care possible by offering automatic, objective, daily remote monitoring and ongoing management and support.\u003c\/p\u003e\n\n \u003cp\u003eAdditionally, on December 19, 2022, Abbott received the US Food and Drug Administration (FDA) approval of the company’s Eterna spinal cord stimulation (SCS) system, which it claims is the smallest implantable, rechargeable spinal cord stimulator currently available on the market for the treatment of chronic pain. Thus, an increase in the number of product approvals is expected to hold the segment in the dominant position.\u003c\/p\u003e\n\n \u003cp\u003eGeographical Penetration\u003c\/p\u003e\n\n\u003cp\u003eNorth America holds the largest market share in the global spinal cord stimulation market\u003c\/p\u003e\n\n\u003cp\u003eNorth America holds a dominant market share due to the increase in the number of FDA approvals. Launches and distribution of a large number of products help make the treatment available to a number of individuals.\u003c\/p\u003e\n\n \u003cp\u003eFor instance, on January 19, 2022, Nevro Corp., a global medical device company, received FDA approval for expanded labeling for its Senza Spinal Cord Stimulation (SCS) System for treating Non-Surgical Refractory Back Pain (NSRBP).\u003c\/p\u003e\n\n  \u003cp\u003eAdditionally, on May 16, 2023, Abbott received the U.S. Food and Drug Administration (FDA) approval for expanding its spinal cord stimulation (SCS) devices for the treatment of chronic back pain in people who have not had or are not eligible to receive back surgery, known as non-surgical back pain. Thus, increasing the number of FDA approvals is expected to drive the region’s market share.\u003c\/p\u003e\n\n \u003cp\u003eCompetitive Landscape\u003c\/p\u003e\n\n\u003cp\u003eMedtronic Plc, Abbott Laboratories, Synapse Biomedical (SBI), Boston Scientific Corporation, Curonix LLC, Cirtec Medical, Nevro Corporation, Gimer Medical., Beijing Pinchi Medical Equipment Co., Ltd., and Saluda Medical Pty Ltd. are the leading companies with significant market share.\u003c\/p\u003e\n\n \u003cp\u003eKey Developments\u003cbr\u003e\n • On August 25, 2023, Medtronic plc, a global leader in healthcare technology, received CE Mark approval for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS).\u003c\/p\u003e\n\n\u003cp\u003eCOVID-19 Impact Analysis\u003c\/p\u003e\n\n\u003cp\u003eCOVID-19 has impacted the spinal cord stimulation market moderately. The treatment procedures have been postponed, and the follow-ups after the treatment procedures have been delayed. The development and manufacturing of the devices has been halted. This created a negative impact on the growth of the market.\u003c\/p\u003e\n\n \u003cp\u003eMarket Segmentation\u003c\/p\u003e\n\n\u003cp\u003eBy Device Type\u003cbr\u003e\n• Rechargeable implantable pulse generator\u003cbr\u003e\n • Conventional implantable pulse generator\u003cbr\u003e\n• Non-rechargeable\u003cbr\u003e\n• Radiofrequency stimulator\u003c\/p\u003e\n\n\u003cp\u003eBy Indication\u003cbr\u003e\n• Failed Back Syndrome (FBS)\u003cbr\u003e\n• Degenerative Disk Disease\u003cbr\u003e\n • Complex regional pain syndrome (CRPS)\u003cbr\u003e\n• Post-surgical pain\u003cbr\u003e\n• Arachnoiditis\u003cbr\u003e\n• Others\u003c\/p\u003e\n\n\u003cp\u003eBy End-User\u003cbr\u003e\n• Hospitals\u003cbr\u003e\n• Specialty Clinics\u003cbr\u003e\n• Orthopedic centers\u003cbr\u003e\n • Others\u003c\/p\u003e\n\n\u003cp\u003eBy Region\u003cbr\u003e\n• North America\u003cbr\u003e\nU.S.\u003cbr\u003e\nCanada\u003cbr\u003e\nMexico\u003cbr\u003e\n• Europe\u003cbr\u003e\nGermany\u003cbr\u003e\nUK\u003cbr\u003e\nFrance\u003cbr\u003e\nItaly\u003cbr\u003e\nSpain\u003cbr\u003e\nRest of Europe\u003cbr\u003e\n• South America\u003cbr\u003e\nBrazil\u003cbr\u003e\nArgentina\u003cbr\u003e\nRest of South America\u003cbr\u003e\n• Asia-Pacific\u003cbr\u003e\nChina\u003cbr\u003e\nIndia\u003cbr\u003e\nJapan\u003cbr\u003e\nAustralia\u003cbr\u003e\nRest of Asia-Pacific\u003cbr\u003e\n• Middle East and Africa\u003c\/p\u003e\n\n \u003cp\u003eWhy Purchase the Report?\u003cbr\u003e\n• To visualize the global spinal cord stimulation market segmentation based on device type, indication, end-user, and region, as well as understand key commercial assets and players.\u003cbr\u003e\n• Identify commercial opportunities by analyzing trends and co-development.\u003cbr\u003e\n • Excel data sheet with numerous data points of spinal cord stimulation market-level with all segments.\u003cbr\u003e\n• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.\u003cbr\u003e\n• Product mapping available as excel consisting of key products of all the major players.\u003c\/p\u003e\n\n\u003cp\u003eThe global spinal cord stimulation market report would provide approximately 61 tables, 59 figures, and 183 Pages.\u003c\/p\u003e\n\n\u003cp\u003eTarget Audience 2023\u003cbr\u003e\n• Manufacturers\/ Buyers\u003cbr\u003e\n• Industry Investors\/Investment Bankers\u003cbr\u003e\n• Research Professionals\u003cbr\u003e\n• Emerging Companies\u003c\/p\u003e","brand":"Life Science","offers":[{"title":"September, 2023 \/ 183 Pages \/ MCW16247649","offer_id":47670714106162,"sku":null,"price":5220.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/global-spinal-cord-stimulation-market-2023-2030","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}