The Spinal Cord Stimulation Market was worth USD 1,871.6 Million in 2016 and estimated to reach USD 2,998.2 Million by the end of 2022 with a growth potential of 8.6%.
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Spinal cord stimulation therapy is used to reduce the pain signals that are sent to the brain through spinal cord which in return release pain relief chemicals. For this process, a spinal cord stimulator also known as dorsal column stimulator, is surgically placed under the skin to send a mild electrical current to the spinal cord.
The process has its advantages and disadvantages.
Spinal cord stimulation (SCS) is a pain relief technique that delivers a low-voltage electrical current continuously to the spinal cord to block the sensation of pain.
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SCS is the most commonly used implantable neuro-stimulation technology for management of pain syndromes. The growth of the global Spinal Cord Stimulation market is driven by a number of factors that include rise in ageing demographics, rising healthcare expenditure per capita, growing cases of obesity and increasing number of failed surgeries.
Acknowledging these factors, it could be said that the Spinal Cord Stimulation market business will certainly gain importance in the years to come.
Global Spinal Cord Stimulation Market: Drivers & Restraints
The cost-effectiveness of spinal cord stimulators, particularly when compared to conventional medical management has led to the rapid growth of the spinal cord stimulators market. Spinal cord stimulation has been proven to be effective after a period of three years and this leads to a noticeably better lifestyle.
As several countries move towards the accountable care model, the cost-effectiveness of spinal cord stimulators is predicted to play a major role during the forecast period. As with most advanced medical technologies, the high cost of spinal cord stimulators is the biggest restraint to growth in the spinal cord stimulators market.
The cost of the device itself, the procedure, and the maintenance cost are hardly insubstantial and this is especially problematic in regions such as the Middle East & Africa and Asia Pacific where treatment and device cost is not reimbursed by reimbursement companies. That is why the largest spinal cord stimulators markets are North America and Europe.
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Global Spinal Cord Stimulation Market: Segmentation
- Deep Brain Stimulation
- Spinal Cord Stimulation
- Transcranial Magnetic Stimulation
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Global Spinal Cord Stimulation Market: Overview
Global exposure and availability of several innovative techniques for learning have prompted surgeons to increase their knowledge about SCS devices. Several pain management societies are spreading awareness about SCS devices through international conferences, annual meetings, seminars, and workshops.
Hospitals are actively participating in promoting these devices by educating patients on the necessity of using these devices for better health. Moreover, the growing shift toward
Global Spinal Cord Stimulation Market: Region-wise Outlook
Based on Geography, the Spinal Cord Stimulation market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America has the highest share in the market followed by Europe and Asia-Pacific due to the presence of top manufacturers in the region.
Asia-Pacific is accounted to have highest CAGR over the forecast period owing to increasing prevalence in pain.
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