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Spinal Cord Stimulator Device Market is expected to reach US$ 4,967.52 million by 2030

Spinal cord stimulator device market is projected to surpass US$ 4,967.52 million by 2030 from US$ 2,779.91 million in 2022| Unlock Growth Strategic Insights

By The Insight Partners

Complex Regional Pain Held Largest Share of Spinal Cord Stimulator Device Market in 2022

According to our new research study on “Spinal Cord Stimulator Devices Market Forecast to 2030 – Global Analysis – by Product Type, Application, and End User,” the spinal cord stimulator device market is expected to grow from US$ 2,779.91 million in 2022 to US$ 4,967.52 million by 2030; it is anticipated to record a CAGR of 7.5% from 2022 to 2030. The report emphasizes the trends prevalent in the global spinal cord stimulator devices market and drivers and deterrents affecting its growth.    

Spinal Cord Injury (SCI) is responsible for causing motor impairment with sensation loss, chronic pain, and another locomotor dysfunction. Various organizations focus on introducing various rehabilitation programs for patients suffering from SCIs. For instance, the SPINAL CORD REPAIR PROJECT (SCRP) is a multidisciplinary collaboration among scientists from the European Union (EU) responsible for restoring physical movements such as motor function or movement after SCIs. Under this program, an experimental setup—MotoRater—was developed and trademarked for the standardized testing of locomotion movements among rodents as a part of clinical testing. These rodents were utilized to identify and characterize the cellular properties of excitatory central pattern generator (CPG) neurons such as EphA4, which are responsible for locomotion. CPG is a neural circuit in the spinal cord that stimulates rhythmic movements from the interplay between CPG neurons and their synaptic interactions. The clinical research results were presented through meetings and congresses; patents were filed and published. Such ongoing innovations in the treatments of spinal cord disorders in the EU help improve the mobility and quality of life for millions suffering from SCIs.

Spinal Cord Stimulator Devices Market, by Region, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00016810

Source: The Insight Partners Analysis

Based on product type, the spinal cord stimulator device market is bifurcated into rechargeable and non-rechargeable. The rechargeable segment held a larger market share in 2022 and is expected to record a significant CAGR during 2022–2030. A spinal cord stimulator, an implantable device, sends low-magnitude electrical signals directly into the spinal cord to offer pain relief. Spinal cord stimulation is mostly employed after nonsurgical pain treatments fail to provide sufficient relief. Several top manufacturers have launched innovative rechargeable spinal cord stimulation devices in the past. In December 2022, Abbott received approval from the US Food and Drug Administration (FDA) for the world's smallest implantable and rechargeable spinal cord stimulation system indicated for chronic pain.

By application, the spinal cord stimulator device market is segmented into failed back syndrome, complex regional pain syndrome, degenerative disk disease, and others. The complex regional pain syndrome segment accounted for the largest market share in 2022, and the same segment is expected to register the highest CAGR from 2022 to 2030. Complex regional pain syndrome (CRPS) involves prolonged pain and inflammation occurring due to an injury or other medical events such as surgery, trauma, stroke, and heart attack. CRPS can occur anywhere in the body, usually affecting the arm, leg, hand, or foot. It is more likely to occur in anyone at any age, with the inflammation approaching a peak after 40 years. Most CRPS cases are caused by damaged or improperly functioning small peripheral C-fiber nerve fibers, which carry pain messages to the brain. CRPS often goes undiagnosed with the development of tiny clots, sometimes blocking blood flow to the nerve and injuring it.

In terms of end users, the spinal cord stimulator device market is categorized into hospitals, ambulatory surgery centers, and others. The hospital segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR during 2022–2030. Spinal cord stimulation devices are widely adopted in hospitals to treat patients suffering from SCIs. These devices are implanted via a minor surgery that is often carried out as an outpatient procedure, followed by an overnight stay of patients in the hospital. The hospital infrastructure is well-equipped to successfully use implantable devices such as spinal cord stimulators, which transmit mild electrical pulses directly into the nerve fibers of the patient after implantation, resulting in reduced chronic pain.

Boston Scientific Corp, Nevro Corp, Abbott Laboratories, Cirtec Medical Corp, Medtronic Plc, Biotronik SE & Co KG, Curonix LLC, Nalu Medical Inc, and Synapse Biomedical Inc are a few of the key companies in the spinal cord stimulator devices market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name.

The report segments the spinal cord stimulator devices market as follows: 

The spinal cord stimulator devices market is divided based on product type, application, end-user, and geography. Based on product type, the market is bifurcated into rechargeable and non-rechargeable. The spinal cord stimulator device market is segmented based on application as failed back syndrome, complex regional pain syndrome, degenerative disk disease, and others. In terms of end users, the spinal cord stimulator device market is categorized into hospitals, ambulatory surgery centers, and others. Based on geography, the market is segmented into North America (US, Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), the Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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