Spinal Cord Stimulation Market Poised for 9 % Growth, Set to Hit $4.78 Billion by 2029

How Are the key drivers contributing to the expansion of the spinal cord stimulation market?
The escalating instances of spinal cord injuries are predicted to fuel the expansion of the spinal cord stimulation market in the future. Spinal cord injuries encompass any impairment to the spinal cord or to the nerves located at the termination of the spinal canal. These injuries are generally a result of traumatic events and household accidents. Treatment for spinal cord injuries often involves spinal cord stimulation, a method in which low-voltage electricity is applied to the spinal cord to relieve pain. For example, in May 2022, the National Library of Medicine, a government library in the US, reported that spinal cord injuries impacted between 250,000 and 500,000 people globally each year. Additionally, approximately 17,000 fresh cases of spinal cord injuries are recorded annually in the US, while an estimated 282,000 Americans are believed to be survivors of spinal cord injuries. Therefore, the escalating instances of spinal cord injuries are driving the expansion of the spinal cord stimulation market.

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What growth opportunities are expected to drive the spinal cord stimulation market's CAGR through 2034?
The market size for spinal cord stimulation has seen robust growth in the past few years. Anticipated to escalate from a worth of $3.14 billion in 2024, it is projected to reach $3.42 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.8%. The surge witnessed in previous years can be traced back to factors such as the growing elderly population, an increase in cases of chronic pain, rising consciousness about spinal cord stimulation, and a growing preference for non-intrusive pain management methods.

In the coming years, a substantial increase is anticipated in the spinal cord stimulation market, which is projected to reach $4.78 billion in 2029, with a compound annual growth rate (CAGR) of 8.7%. Factors driving growth during the forecast period include the introduction of novel stimulation treatments, an increase in spinal cord stimulation indications, a burgeoning demand for minimally invasive operations, heightened investment in research and development, and favourable reimbursement schemes. Key trends during this period comprise the use of artificial intelligence in spinal cord stimulation equipment, the rise of non-paraesthesia-based stimulation, efforts to broaden market presence in developing economies, the utilization of rechargeable stimulators, and a focus on patient-oriented strategies in product design.

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What are the most significant trends transforming the spinal cord stimulation market today?
The rise of technological advancements is a crucial trend developing momentum in the spinal cord stimulation market. Firms leading the spinal cord stimulation market are keen on innovating technologically superior solutions to maintain their market dominance. For instance, Abbott Laboratories, an American medical device company, introduced the Eterna spinal cord stimulation system for chronic treatments in December 2022. This system, the smallest implantable, rechargeable spinal cord stimulator for managing chronic pain, is the latest in the market. Abbott's low-dose BurstDR stimulation, the only SCS waveform technology boasting the highest level of clinical proof (1A evidence), is employed in the Eterna SCS and has proven to alleviate pain by 23% more than traditional waveform technology methods.

Which growth-oriented segments of the spinal cord stimulation market are leading the industry's development?
The spinal cord stimulation market 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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What regions are leading the charge in the spinal cord stimulation market?
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.

What companies are at the forefront of innovation 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

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What Is Covered In The Spinal Cord Stimulation Global Market Report?

• Market Size Forecast: Examine the spinal cord stimulation market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the spinal cord stimulation market for a structured understanding.
• Key Players Overview: Analyze major players in the spinal cord stimulation market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the spinal cord stimulation market.
• Segment Contributions: Evaluate how different segments drive overall growth in the spinal cord stimulation market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the spinal cord stimulation market.
• Industry Challenges: Identify potential risks and obstacles affecting the spinal cord stimulation market.
• Competitive Landscape: Review strategic developments in the spinal cord stimulation market, including expansions, agreements, and new product launches.

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