Spinal Cord Stimulation Devices Market Worth $3.58 Billion By 2026: Grand View Research, Inc

Spinal Cord Stimulation Devices Market Worth $3.58 Billion By 2026: Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting
According to report published by Grand View Research, The global spinal cord stimulation devices market size was valued at USD 1.83 billion in 2018 and is anticipated to expand at a CAGR of 8.7% during the forecast period.

The global Spinal Cord Stimulation Devices Market size is anticipated to reach USD 3.58 billion by 2026 registering a CAGR of 8.7%, according to a new report by Grand View Research, Inc. Increasing incidence of failed back syndrome and complex regional pain syndrome is anticipated to boost the market growth. Failed back syndrome occurs as a chronic pain after spinal surgeries for back or leg pain. After spinal surgery, the pain gets reduced or the condition may get worst due to scar tissue which build up around the spinal nerve roots.

Spinal cord stimulation device is used to treat patients who failed to get the result from spinal surgeries, by blocking the pain before it reaches the brain. Thus, increasing number of patients suffering from chronic pain after surgeries is likely to augment the product demand over the forecast period. In addition, technological advancements are expected to fuel the market growth further. For instance, Medtronic’s Intellis is a smallest implantable spinal cord stimulator designed to overcome limitations with the current systems.

The high dose therapy of the device helps reduce the pain for the patients suffering from diseases, such as degenerative disk disease. Key companies are introducing technologically enhanced products to gain competitive advantage in the industry. For instance, in January 2019, Boston Scientific launched its Spectra WaveWriter spinal cord stimulator in Europe. It is used for the treatment of chronic pain through electrical impulses. This new system also allows physicians and patients to customize their therapy.

U.S. spinal cord stimulation devices market size, by product, 2015 - 2026 (USD Million)

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Further key findings from the study suggest:

  • Rechargeable device segment led the global market in 2018 and is projected to expand further at the fastest CAGR from 2018 to 2026
  • This is attributed to the factors, such as new product launches by key companies and increasing number of patients suffering from neuropathic pain
  • Failed back syndrome was the dominant application segment in 2018 owing to high number of patients suffering from pain after spinal surgeries
  • North America led the global spinal cord stimulation devices market in 2018 owing to the increased incidence of post-laminectomy syndrome followed by chronic longstanding back pain

Global spinal cord stimulation devices market share, by application, 2018 (%)

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Grand View Research has segmented the global spinal cord stimulation devices market on the basis of product, application, and region:

Spinal Cord Stimulation Devices Product Outlook (Revenue, USD Million, 2015 – 2026)

  • Rechargeable
  • Non-rechargeable

Spinal Cord Stimulation Devices Application Outlook (Revenue, USD Million, 2015 – 2026)

  • Failed Back Syndrome
  • Complex Regional Pain Syndrome
  • Degenerative Disk Disease
  • Unsuccessful Disk Surgery
  • Others

Spinal Cord Stimulation Devices Regional Outlook (Revenue, USD Million, 2015 – 2026)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Singapore
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Columbia
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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