Global Spinal Cord Stimulation Market (2021-2026) by Product, Disease, End User, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Spinal Cord Stimulation Market is estimated to be USD 2.1 Bn in 2021 and is expected to reach USD 3.2 Bn by 2026, growing at a CAGR of 8.9%.

Market Dynamics

A spinal Cord Stimulator (SCS) device is surgically placed under your skin and sends a mild electric current to your spinal cord. Thin wires carry current from a pulse generator to the nerve fibres of the spinal cord. When turned on, the SCS stimulates the nerves in the area where your pain is felt. Factors such as increasing incidence of the failed back syndrome, availability of medical reimbursements, increase in the number of patients suffering from chronic pain and increasing incidence of complex regional pain syndrome are drivers for the market. Whereas adverse risks associated with spinal cord stimulation devices are restraints for the market growth.

Growing awareness in developing countries provides an opportunity for the market’s growth through the availability of therapies poses a challenge.

Market Segmentation

The Global Spinal Cord Stimulation Market is segmented further based on Product, Disease, End User and Geography.

By Product, the market is classified into Rechargeable and Non-Rechargeable segments.

By Disease, the market is classified into Failed Back Surgery Syndrome (FBSS), Degenerative Disc Disease (DDD), Complex Regional Pain Syndrome (CRPS), Arachnoiditis, Ischemic Limb Pain, and Others. Amongst all, the Failed back surgery syndrome (FBSS) segment is expected to contribute the highest growth.

By End User, the market is classified into Hospitals, Ambulatory Surgical Units, Speciality Clinics segments. Amongst all segments, the Hospitals segment is expected to grow at the highest CAGR.

By Geography, North America is projected to lead the market.

Recent Developments

1. Medtronic receives approval for US labelling of the Intellis platform showing superior back pain relief when using DTM spinal cord stimulation - 17th March 2021
2. Nervo announced that it has agreed to dismiss its patent case against Boston Scientific relating to high-frequency spinal cord stimulation therapy - 15th December 2020

Company Profiles

Some of the companies covered in this report are Abbott Laboratories, Autonomic Technologies Inc., Beijing PINS Medical Co., Ltd, BioControl Medical (B.C.M) Ltd., Bioinduction, Bluewind Medical, Boston Scientific Corporation, Cirtec Medical Corporation, and Gimer Medical, etc.

Competitive Quadrant

The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Spinal Cord Stimulation Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market