Spinal Cord Stimulators (SCS) - Market Insights, Competitive Landscape, and Market Forecast - 2030

Spinal Cord Stimulators (SCS) Market By Product (Rechargeable, Non-Rechargeable, and Others), Application (Failed Back Syndrome (FBS), Degenerative Disk Disease (DDD), Complex Regional Pain Syndrome (CRPS), and Others), End-User (Hospitals, Clinics, and Ambulatory Surgical Centers), and Geography is expected to grow at a steady CAGR forecast till 2030 owing to growing number of patients with chronic pain and technologically advanced devices

The global spinal cord stimulators (SCS) market was valued at USD 2.25 billion in 2023, growing at a CAGR of 8.70% during the forecast period from 2024 to 2030 to reach USD 3.72 billion by 2030. The demand for spinal cord stimulators (SCS) is primarily attributed to the growing number of patients with chronic pain, and neuropathic pain in the shoulder, legs, and knee. The technologically advanced devices that are non-invasive, eliminate targeted pains, and cause a reduction in patient discomfort, with no side effects are likely responsible for a boost in the global spinal cord stimulators (SCS) market growth. Moreover, favorable government regulations for commercialization and launching products in the market and the rising geriatric population are some of the factors responsible for propelling the growth of the spinal cord stimulators (SCS) market.

Spinal Cord Stimulators (SCS) Market Dynamics:

The rising prevalence of patients affected with chronic lower back pain (LBP) and neuropathic pain due to injuries and trauma is anticipated to bolster the market for spinal cord stimulators during the forecasted period.

According to the Centers for Disease Control and Prevention (CDC) 2022, LBP is a very common condition causing more disability around the world than any other condition.

Further, as per the latest study conducted by the American Chiropractic Association, it was estimated that up to 80% of the population will experience back pain at some time in their lives. According to the same source, it was estimated that the majority of people are suffering from LBP due to back surgery failure. Failed back surgery statistics show that anywhere from 10-40% of failed back syndrome patients are affected.

The International Association for the Study of Pain 2021, disability associated with Lower Back Pain increased in all age groups between 1990 and 2019 and was greatest in the 50-54 age group in 2019. Approximately 70% of years lost through disability were in working-aged people (20-65 years) in 2020.

Moreover, a rise in traumatic injuries due to road crashes falls, and others are likely to cause lower back and spine injuries, herniated discs, and others which will further increase the demand for Spinal Cord Stimulators.

As per the data published by the World Health Organization (WHO) 2021, every year between 250,000 and 500,000 people suffer a spinal cord injury (SCI) around the world and the majority of spinal cord injuries are due to road traffic crashes, falls, or violence.

In addition, in January 2020, Stimgenics developed a spinal cord stimulation waveform known as Differential Target Multiplexed Spinal Cord Stimulation. The therapy is delivered through Medtronic's Intellis platform and is a chronic pain treatment option. Such technological advancement in the field of spinal cord stimulators (SCS) is likely to boost the market for the same.

However, certain factors such as risks associated with the devices, and also the high cost of the devices pose a major hurdle to the growth of the spinal cord stimulators (SCS) market.

Spinal Cord Stimulators (SCS) Market Segment Analysis:

Spinal Cord Stimulators (SCS) market by Product (Rechargeable, Non-Rechargeable, Others), Spinal Cord Stimulators (SCS) market by Application (Failed Back Syndrome (FBS), Degenerative Disk Disease (DDD), Complex Regional Pain Syndrome (CRPS), Others), Spinal Cord Stimulators (SCS) market by End User (Hospitals, Clinics, Ambulatory Surgical Centers), and Spinal Cord Stimulators (SCS) market by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Spinal Cord Stimulators (SCS) market product segment, the Rechargeable market segment will hold the majority of the Global Spinal Cord Stimulators (SCS) market in 2020. The rapid growth of this product segment can be attributed to the growing demand due to significant cost-savings with the use of rechargeable stimulators as compared to non-rechargeable ones leading to the high adoption of these devices.

Moreover, most of the non-rechargeable SCS devices contain a battery that must eventually be surgically replaced but, with rechargeable SCS, the battery can theoretically last several years longer than with traditional SCS. Therefore, with the growing demand for disease treatment benefits, the market of Spinal Cord Stimulators (SCS), is expected to rise.

In addition, new product approvals are also likely to upsurge the spinal cord stimulators (SCS) market during the forecasted period. For instance, in February 2022, the US FDA approved Intellis(TM), a rechargeable stimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy (DPN).

Additionally, a rechargeable SCS system is projected to require from 2.6 to 4.2 fewer battery generator replacements for battery depletion than a non-rechargeable SCS system.

Hence, all the above-mentioned factors are expected to drive the segment growth of the Spinal Cord Stimulators (SCS) market.

North America is expected to dominate the Overall Spinal Cord Stimulators (SCS) Market:

North America is expected to dominate the overall spinal cord stimulators (SCS) market during the forecast period. This can be attributed to the growing prevalence of lower back pain, the rising prevalence of spinal degenerative disc diseases, and others, thereby propelling the market of spinal cord stimulators in the United States.

As per the Back Pain Facts and Statistics, 2021, about 31 million Americans tend to experience lower back pain at any given time.

As per the Centers for Disease Control and Prevention (CDC) 2021, nearly 25% of United States adults reported lower back pain in the prior three months.

Also, according to the Back Pain Statistics 2021, nearly 30% of the United States population experienced lower back problems in the last three months of 2019.

Further, the United States represents the largest market worldwide supported by rising product launch and commercialization agreements among the key manufacturers and other companies which is anticipated to boost the market growth. For instance, in January 2021, the recent launch of Boston Scientific's WaveWriter Alpha portfolio of Spinal Cord Stimulator (SCS) systems, is expected to propel the market growth of Spinal Cord Stimulators (SCS).

Also, in August 2022, Abbott received the US Food and Drug Administration (FDA) approval for its new Proclaim(TM) Plus spinal cord stimulation (SCS) system featuring FlexBurst360(TM) therapy.

Thus, all the above-mentioned factors are anticipated to propel the market for spinal cord stimulators in the United States during the forecast period from 2023 -2028.

Spinal Cord Stimulators (SCS) Market Key Players:

Some of the key market players operating in the Spinal Cord Stimulators (SCS) market include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Nevro Corp., Cirtec Medical, Stimwave LLC, NeuroSigma, Inc., Synapse Biomedical, Inc., Greatbatch, Inc., Saluda Medical Pty Ltd., Beijing PINS Medical Co., Ltd., and others.

Recent Developmental Activities in the Spinal Cord Stimulators (SCS) Market:

In May 2022, Medtronic announced the launch of CareGuidePro, a new mobile application and web portal that serves as a virtual guide for patients throughout their spinal cord stimulation therapy journey.

In January 2022, Abbott announced the upcoming launch of NeuroSphere myPath, a digital health app designed to track and report on patient-perceived pain relief in chronic pain patients with physicians before the device implant.

In January 2022, The US Food and Drug Administration (FDA) approved two of Medtronic's existing technologies, Intellis and Vanta, for the treatment of pain associated with diabetic peripheral neuropathy (DPN).

Key Takeaways from the Spinal Cord Stimulators (SCS) Market Report Study

Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global spinal cord stimulators (SCS) market.

Various opportunities are available for the other competitor in the spinal cord stimulators (SCS) market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for spinal cord stimulators (SCS) market growth in the coming future?

Target Audience Who can be benefited from this Spinal Cord Stimulator (SCS) Market Report Study

Spinal Cord Stimulators (SCS) providers

Research organizations and consulting companies

Spinal Cord Stimulators (SCS) related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders in spinal cord stimulators (SCS)

Various End-Users want to know more about the spinal cord stimulators (SCS) market and the latest technological developments in the spinal cord stimulators (SCS) market.

Frequently Asked Questions for Spinal Cord Stimulators (SCS) Market:

1. What are spinal cord stimulators (SCS)?

A spinal cord stimulation device consists of a thin wire, which carries out current from the pulse generator to the nerve fibers of the spinal cord. These are mounted under the skin and transmit electrical signals to the spinal cord. This system is made up of a short wire that brings current to the nerve fibers of the spinal cord from a pulse generator. Therefore, machines for spinal cord stimulation help minimize discomfort due to electrical pulses and mask the signal of pain from affecting the brain.

2. What is the market for global spinal cord stimulators (SCS)?

The global spinal cord stimulators (SCS) market was valued at USD 2.25 billion in 2023, growing at a CAGR of 8.70% during the forecast period from 2024 to 2030 to reach USD 3.72 billion by 2030.

3. What are the drivers for the global spinal cord stimulators (SCS) market?

The major drivers driving the demand for spinal cord stimulators (SCS) are attributed to the rising technological advancements by key players, the growing burden of chronic diseases like failed back syndrome, chronic pain, and complex regional pain syndrome, reducing the burden of opioids and pain-relieving drugs intake, favorable government regulations, and increasing geriatric population among others.

4. Who are the key players operating in the global spinal cord stimulators (SCS) market?

Some of the key market players operating in the spinal cord stimulators (SCS) market include Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories, Nevro Corp., Cirtec Medical, Stimwave LLC, NeuroSigma, Inc., Synapse Biomedical, Inc., Greatbatch, Inc., Saluda Medical Pty Ltd., Beijing PINS Medical Co., Ltd., and others.

5. Which region has the highest share in the spinal cord stimulators (SCS) market?

North America is expected to dominate the overall spinal cord stimulators (SCS) market during the forecast period, 2024 to 2030. This domination is due to the improved reimbursement policies by the government, and the high adoption of technological advancements owing to the rise in healthcare expenditure by the US government.