Global Spinal Cord Stimulation Devices Market Size (2024 - 2029)

Spinal Cord Stimulation Devices Market Analysis

The Global Spinal Cord Stimulation Devices Market is expected to register a CAGR of 8.5% during the forecast period.

During the COVID 19 pandemic, the spinal cord stimulation devices market was adversely affected due to supply chain issues. Various research studies have provided insight into the impact of Covid on spinal cord stimulations. For instance, in August 2021, a research study published titled "The Impact of the COVID-19 Pandemic on Patients Awaiting Spinal Cord Stimulation Surgery in the United Kingdom: A Multi-Center Patient Survey" stated that spinal cord stimulation (SCS) is a recommended treatment for chronic refractory neuropathic pain. During the COVID-19 pandemic, elective procedures have been postponed indefinitely both to provide capacity to deal with the emergency caseload and to avoid exposure of elective patients to COVID-19. Hence, such studies provide insight into the negative impact of the pandemic on SCS.

Factors such as the rising prevalence of spinal disorders and chronic lower back pains coupled with the availability of medical reimbursements are key factors for the growth of the market. According to the National Spinal Cord Injury Statistical Center June 2021 report, it is estimated that about 296,000 people in the United States are living with a spinal cord injury. Of this population, about 78% of spinal cord injury cases occur in males, while the remaining 22% occur in females. The most common causes of SCI in this sample of 34,683 include auto accidents (32%), falls (23.1%), gunshot wounds (15.2%), motorcycle accidents (6.1%), and Diving (5.7%).

Similarly, in August 2021, a research study published titled "Spinal Cord Injuries" stated that globally between 250,000 and 500,000 patients each year suffer a spinal cord injury. Most of these cases are due to preventable causes such as violence and motor vehicle accidents. The same source stated that in the United States, there are approximately 17,000 new cases of spinal cord injuries (SCI) each year. Similarly, lower back pains are another factor in the growth of the market. For instance, in November 2021, a research study published titled "Interventions for the Management of Acute and Chronic Low Back Pain: Revision 2021" stated that low back pain (LBP) remains a musculoskeletal condition with an adverse societal impact. Globally, LBP is highly prevalent and a leading cause of disability. Hence, increasing spinal cord injury and lower back pain would increase the consumption of spinal cord stimulation devices and will increase the market growth.

The demand for spinal cord stimulators is increasing. For instance, in February 2022, Medtronic plc, one of the global leaders in healthcare technology, reported the first clinical procedure in India with the Intellis spinal cord stimulation (SCS) platform. It is one of the world's smallest SCS devices for the management of certain types of chronic intractable pain. Such use of technologically advanced products in developing countries would increase market growth in the upcoming future.

Reimbursement is another factor in the growth of the market. For instance, in the December 2021 report published titled "2022 National Average Payment Rate for Ambulatory Surgery Center (ASC)," the reimbursement cost for SCS Implant with Perc Leads (Insertion or replacement of spinal neurostimulator pulse generator or receiver, direct or inductive coupling) is USD 24,424. Similarly, the cost for laminectomy for implantation of neurostimulator electrodes, plate/paddle, and epidural is USD 17,146. Thus, the abovementioned factors will increase market growth in the upcoming future.

However, the risk associated with spinal cord stimulation devices would hinder the market growth.

Spinal Cord Stimulation Devices Industry Segmentation

As per the scope, the spinal cord stimulator (SCS) is a type of implantable neuromodulation device which is used to send electrical signals to select areas of the spinal cord for the treatment of certain pain conditions. Spinal cord stimulators consist of thin wires (electrodes) and a small, pacemaker-like battery pack. The electrodes are placed between the spinal cord and the vertebrae (the epidural space), and the generator is placed under the skin. The Spinal Cord Stimulation Devices Market is Segmented by Device Type (Rechargeable and Non-rechargeable), Application (Degenerative Disk Disease, Failed Back Syndrome, Unsuccessful Disk Surgery, and Others), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.