The global spinal cord stimulators market is on a robust growth trajectory, poised to reach an impressive valuation of USD 5,441.4 million by 2033. Currently valued at USD 2,702.7 million in 2023, the market is forecasted to experience a strong compound annual growth rate (CAGR) of 7.2% over the next decade, according to expert insights from our healthcare analysts.
Innovative Clinical Studies Driving Market Demand
A significant catalyst for this expansion is the increasing number of clinical studies aimed at enhancing the efficacy and safety of spinal cord stimulators. Notably, ANEUVO, a pioneering platform and therapy development firm, has recently launched a clinical study of its ExaStim TSS system. This wirelessly controlled neuromodulation system is engineered for transcutaneous spinal cord stimulation (TSS). The study aims to assess the ExaStim system’s effectiveness in conjunction with conventional rehabilitation therapy for patients suffering from upper extremity paralysis.
TSS represents an innovative approach in neuromodulation therapy, specifically designed to assist individuals with spinal cord injuries (SCI) in improving their motor functions. Initial findings indicate that non-invasive spinal stimulation may enable individuals with SCI to recover lost motor function and enhance their functional independence.
Technological Advancements in Spinal Rehabilitation
The spinal cord stimulators market is also witnessing significant advances in spinal rehabilitation technology. At the American Congress of Rehabilitation Medicine (ACRM) conference held in 2022, several groundbreaking technologies were showcased, furthering the management and treatment of spinal cord injuries.
A key innovation in this field includes neuromodulation devices, which utilize electrodes placed on the brain, peripheral nerves, or spinal cord. These devices stimulate nerves to elicit a natural biological response or deliver targeted pharmaceutical agents directly to affected areas in small doses. Recent evidence highlights that nearly 50% of patients using these devices have reported improved pain management.
As the spinal cord stimulators market continues to evolve, key players are encouraged to engage with these clinical studies and technological advancements to drive further growth and improve patient outcomes.
Expanding Market Need: Access Our Full Report for In-Depth Analysis and Trends!
Key Takeaways from Spinal Cord Stimulators Market Trends:
The market for spinal cord stimulators (SCS) is experiencing positive growth due to several trends:
- Clinical studies exploring new applications: Companies are conducting trials to expand the use of SCS beyond traditional pain relief. For example, ANEUVO’s ExaStim system is being investigated for its potential to improve motor function in patients with upper extremity paralysis.
- Emerging technologies in spinal rehabilitation: Advancements like non-invasive transcutaneous spinal cord stimulation (TSS) offer promise for treating spinal cord injuries (SCI). Studies suggest TSS may help patients regain lost motor function and enhance independence.
- Focus on neuromodulation for pain management: Newer neuromodulation devices using electrical stimulation are showing positive results in pain management. Evidence suggests nearly half of patients report improved pain control with these devices.
These trends indicate a growing focus on using SCS technology for a wider range of conditions and a potential shift towards more non-invasive approaches. This could significantly impact the future of the SCS market.
New Developments Taken Place in the Market”
- In March 2023, Nevro reported the United States-wide release of the HFX iQ spinal cord stimulation system. HFX iQ begins patients on the program for pain relief, based on Nevro’s HFX algorithm. The device combines clinical inputs and quality-of-life inputs to offer an individualized program setting for every patient.
- In February 2023, ANEUVO introduced the United States study of ExaStim, which is a non-invasive spinal neuromodulation system, to assess its effectiveness and safety for paralysis owing to spinal cord injury.
Market Players:
- Medtronic Public Limited Company
- Boston Scientific Corp
- St Jude Medical LLC and Nevro Corp
- Nuvectra Corporation and Stimwave
- Neurosigma Inc.
- Synapse Biomedical Inc.
- Abbott Laboratories
- Beijing PINS Medical Co., Ltd
- Cirtec Medical Corporation
- Gimer Medical
- Bluewind Medical
- Bioinduction
- Greatbatch, Inc.
- Saluda Medical Pty Ltd.
Segments Covered in the Spinal Cord Stimulators Market Report:
Products:
- Rechargeable
- Non-Rechargeable
Application:
- Failed Back Surgery Syndrome
- Complex Regional Pain Syndrome
- Ischemic Limb pain
- Others
End User:
- Hospitals
- Ambulatory Surgical Centers
- Clinics
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa (MEA)
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