Spinal Cord Stimulation Devices Market Expected to Reach $4.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Spinal Cord Stimulation Devices Market," The spinal cord stimulation devices market was valued at $2.1 billion in 2022, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.

The major factors that contribute to the growth of spinal cord stimulation devices industry are surge in technological advancements in spinal cord stimulation devices, rise in prevalence of spinal disorders, and availability of medical reimbursements for spinal cord stimulation procedure. One of the most significant advancements in spinal cord stimulation devices is the development of rechargeable batteries. Traditional spinal cord stimulation devices require replacement of the battery every few years, which can be costly and require surgery.

Rechargeable spinal cord stimulation devices, on the other hand, can be charged using a wireless charger and can last for several years. This makes spinal cord stimulation devices more convenient for patients and reduces the need for frequent battery replacements. For instance, Abbott Laboratories offers Eterna rechargeable spinal cord stimulation system for treating failed back surgery syndrome and intractable low back & leg pain. Thus, availability of such rechargeable spinal cord stimulation system boosts the growth of market.

In addition, advancements such as closed-loop spinal cord stimulation is a type of spinal cord stimulation technology that uses real-time feedback to adjust stimulation parameters automatically. 
Closed-loop spinal cord stimulation devices use sensors to monitor the patient's physiological responses to stimulation, such as heart rate and breathing rate. The device then adjusts the stimulation parameters in response to the patient's feedback to optimize pain relief. For instance, Medtronic's Intellis platform is a closed-loop spinal cord stimulation device that features AdaptiveStim technology. The device uses advanced algorithms to automatically adjust stimulation settings based on the patient's movements and physiological responses.

Rise in the burden of spinal disorders is another significant factor driving the growth of the spinal cord stimulation devices industry. Spinal disorders such as failed back surgery syndrome, complex regional pain syndrome, diabetic neuropathy, and degenerative disc disease can cause chronic pain and have a significant impact on quality of life. Spinal cord stimulation devices are often used as a treatment option for these conditions, and the growing burden of spinal disorders is driving the demand for spinal cord stimulation devices. 

Furthermore, the growth of the spinal cord stimulation devices market is majorly driven by increase in awareness and acceptance of spinal cord stimulation therapy among patients and healthcare providers. The effectiveness of spinal cord stimulation devices has been well-established in clinical trials and studies, and many patients who have failed to find relief with other treatments are turning to spinal cord stimulation therapy, which propels the market expansion. In addition, the patient can use a handheld controller to adjust the settings of the spinal cord stimulation device. The patient can increase or decrease the intensity of the electrical impulses as well as change the frequency and duration of the impulses. This allows the patient to customize the therapy according to the needs and preferences.

Moreover, surge in adoption of spinal cord stimulation devices by healthcare professionals has contributed to the growth of the spinal cord stimulation devices market trends. Physicians are increasingly recognizing the benefits of spinal cord stimulation and are recommending it as a treatment option for patients who have not responded to other forms of therapy. Thus, increase in awareness of spinal cord stimulation among physicians and patients is expected to drive spinal cord stimulation devices market forecast.

On the basis of product, the spinal cord stimulation devices market analysis is categorized into rechargeable devices and non-rechargeable devices. The rechargeable devices segment accounted for largest spinal cord stimulation devices market share in 2022 and is expected to register highest CAGR during the forecast period owing to several advantages they offer over non-rechargeable devices such as longer battery life and higher flexibility in programming and adjusting the stimulation settings according to the patient’s needs.

Depending on indication, the market is fragmented into failed back surgery syndrome, complex regional pain syndrome, degenerative disc disease, and others. The failed back surgery syndrome accounted for largest spinal cord stimulation devices market share in terms of revenue in 2022, owing to rise in number of spinal surgeries, increase in adoption of spinal cord stimulation therapy as it has proven to be effective in treating failed back surgery syndrome. The degenerative disk disease segment is anticipated to register highest CAGR during the forecast period owing to increase in number of patients suffering from degenerative disk disease and rise in adoption of spinal cord stimulation therapy to provide long-term pain relief. 

By end user, the market is segregated into hospital, ambulatory surgical centers, and others. The hospitals segment accounted for largest spinal cord stimulation devices market size in terms of revenue in 2022, and is anticipated to register highest CAGR during the forecast period owing to availability & access to specialized healthcare professionals, advanced medical technologies & infrastructure, and strong relationships with insurance providers resulting in adoption of spinal cord stimulation therapy. 

Region wise, North America accounted for the largest spinal cord stimulation devices market size in terms of revenue in 2022 owing to high prevalence of chronic pain conditions, availability of advanced healthcare facilities, and presence of major players offering spinal cord stimulation devices. 
However, Asia-Pacific is anticipated to witness notable growth, owing to rise in number of cases of chronic pain conditions, increase in awareness regarding available spinal cord stimulation treatment devices, and surge in investments for development of effective spinal cord stimulation devices for chronic pain. 

Key findings of the study

• By product, the rechargeable devices segment accounted for largest share in terms of revenue in 2022, and expected to register highest CAGR during the forecast period.
• On the basis of indication, the failed back surgery syndrome segment was the major shareholder in terms of revenue in 2022. However, the degenerative disk disease segment is anticipated to register highest CAGR during the forecast period.
• Depending on end user, the hospitals segment garnered the largest share in terms of revenue in 2022, and anticipated to register highest CAGR during the forecast period.
• Region wise, North America occupied the largest share in terms of revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.