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Spinal Cord Stimulation Market Report 2023-2032: Market Size, Share, Trends, And Regional Forecast | NeuroPace Inc., Abbott Laboratories, Medtronic PLC, Stryker Corporation, Boston Scientific Corp
Spinal Cord Stimulation Market
The Business Research Company's Spinal Cord Stimulation Global Market Report 2023 identifies increasing prevalence of spinal cord injuries as the major driver for the Spinal Cord Stimulation market's growth in the forecast period. Spinal cord injuries refer to any damage to the spinal cord or nerves at the spinal canal's end. Spinal cord injuries rise due to traumatic causes and domestic accidents. Spinal cord injuries are treated by spinal cord stimulation, which delivers low-voltage electricity to the spinal cord to alleviate pain.
The global spinal cord stimulation market is expected to grow from $2.6 billion in 2022 to $2.85 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The spinal cord stimulation market is expected to reach $3.96 billion in 2027 at a CAGR of 8.5%.
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Major competitors in the Spinal Cord Stimulation market are NeuroPace Inc., Abbott Laboratories, Medtronic PLC, Stryker Corporation, Boston Scientific Corp.
A key trend in the Spinal Cord Stimulation market includes Technological innovations. Major companies operating in the spinal cord stimulation market are focused on developing technologically advanced solutions to sustain their position in the market. For instance, in December 2022, Abbott Laboratories, a US-based medical device company, launched the Eterna spinal cord stimulation system for chronic treatment. It is the most miniature implantable, rechargeable spinal cord stimulator for the management of chronic pain currently on the market. Abbott's low-dose BurstDR stimulation, the only SCS waveform technology with the highest level of clinical proof (1A evidence), is used in Eterna SCS and has been shown to relieve pain 23% greater than conventional waveform technology methods.
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The Spinal Cord Stimulation market 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
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Spinal Cord Stimulation market.
The Business Research Company's "Global Spinal Cord Stimulation Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Spinal Cord Stimulation Market Include:
1. Executive Summary
2. Spinal Cord Stimulation Market Characteristics
3. Spinal Cord Stimulation Market Trends And Strategies
4. Spinal Cord Stimulation Market - Macro Economic Scenario
……
32. Global Spinal Cord Stimulation Market Competitive Benchmarking
33. Global Spinal Cord Stimulation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Spinal Cord Stimulation Market
35. Spinal Cord Stimulation Market Future Outlook and Potential Analysis
36. Appendix
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