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Spinal Cord Stimulation Market: Strong Growth Fueled by Innovative Therapies, Expanding Indications, and Increasing Demand for Minimally Invasive Procedures
Spinal Cord Stimulation Market
What Is The Projected Market Size Of The Global Spinal Cord Stimulation Market And Its Growth Rate?
• From a valuation of $3.14 billion in 2024, the global spinal cord stimulation market expects to reach $3.42 billion in 2025, showcasing a promising CAGR of 8.8%.
• Growth drivers such as an aging population, widespread chronic pain, awareness of spinal cord stimulation methods, and surging demand for non-invasive pain management are contributing to the market's robust expansion.
• Looking forward, the market will further grow to $4.78 billion in 2029 at a compound annual growth rate (CAGR) of 8.7%. The thriving expansion can be attributed to the continual development of innovative stimulation therapies, expanding spinal cord stimulation indications, emerging demand for minimally invasive procedures, increasing R&D investments, and evolving reimbursement policies.
What Is Driving The Growth In The Spinal Cord Stimulation Market?
Driving the growth of the spinal cord stimulation market is the alarming increase in spinal cord injuries around the world. Ranging from traumatic injuries to domestic accidents, spinal cord injuries primarily invoke severe pain. This pain can be alleviated by the application of low-voltage electricity to the spinal cord, a procedure known as spinal cord stimulation. Thus, the increasing instances of spinal cord injuries, propelling the demand for effective pain management techniques, foster market growth.
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Who Are The Key Players Driving Spinal Cord Stimulation Market Growth?
• 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
What Are The Key Trends In The Spinal Cord Stimulation Market?
• Integration of artificial intelligence in spinal cord stimulation devices.
• Emergence of non-paraesthesia-based stimulation.
• Focus on expanding market presence in emerging economies.
• Adoption of rechargeable stimulators.
• Emphasis on patient-centric approaches in product development.
What Are The Segments Of The Global Spinal Cord Stimulation Market?
• By Product: Rechargeable, Non-rechargeable
• By Application: Failed Back Surgery Syndrome (FBSS), Degenerative Disc Disease (DDD), Complex Regional Pain Syndrome (CRPS), Arachnoiditis, Other Disease Indications
• By End User: Hospitals, Ambulatory Surgery Centers, Specialty Clinics
Which Region Leads The Spinal Cord Stimulation Market?
In terms of regional market segmentation, North America dominates the spinal cord stimulation market as of 2024. However, the fastest-growing region in the forecast period will be Asia-Pacific. Other regions analyzed in the report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Spinal Cord Stimulation Market Global Market Report?
• Market Size Analysis: Analyze the Spinal Cord Stimulation Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Spinal Cord Stimulation Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Spinal Cord Stimulation Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Spinal Cord Stimulation Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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