Global Spinal Cord Stimulation (Scs) Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Spinal Cord Stimulation (Scs) Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Spinal Cord Stimulation (Scs) Devices is placed under the skin of a patient by surgery, and sends a gentle current to the spinal cord of the patient. Spinal Cord Stimulation (Scs) Devices is composed of pulse generator, which is a small wire that transmits current from pulse generator to spinal nerve fibers. When opened, the Spinal Cord Stimulation (Scs) Devices stimulates the nerves in the area where the patient feels pain. When the electrical pulse changes and masks the pain signal to reach the brain, the pain will be relieved. Spinal Cord Stimulation (Scs) Devices can be divided into rechargeable and non-rechargeable, which are mainly used to treat Painful Diabetic Neuropathy (PDN), Degenerative disk disease (DDD), Failed back syndrome (FBS), Multiple back operations, Unsuccessful disk surgery.

Market Overview:

The latest research study on the global Spinal Cord Stimulation (Scs) Devices market finds that the global Spinal Cord Stimulation (Scs) Devices market reached a value of USD 2547.9 million in 2022. It’s expected that the market will achieve USD 5028.19 million by 2028, exhibiting a CAGR of 12.0% during the forecast period.

Since 2019, the sudden COVID-19 epidemic has swept the world, which has had a great impact on all walks of life. Closed management and more medical resources in many cities have affected the daily medical care of patients with Painful Diabetic Neuropathy (PDN), Degenerative disk disease (DDD) to varying degrees. During the epidemic, the number of operations decreased, and many hospitals chose conservative treatment and delayed treatment strategies. The demand for Spinal Cord Stimulation (Scs) Devices may drop appropriately in a short time. Under the influence of the epidemic, people pay more and more attention to life and health, and their awareness of treating diseases is constantly improving. Generally speaking, with the gradual recovery of the epidemic, R&D, production and demand will gradually recover, which has little impact on the development of the industry.

Political Factors

Political factors usually have an impact on organizations and their operating methods. Organizations need to be able to respond to current and anticipated future legislation and adjust their marketing strategies accordingly.
These are all about how and to what extent the government intervenes in the economy. This may include government policies, political stability or instability in overseas markets, foreign trade policies, tax policies, labor laws, environmental laws, trade restrictions, and so on.

Economic Factors

Economic factors have a significant impact on how an organization does business and also how profitable they are. Factors include – economic growth, interest rates, exchange rates, inflation, disposable income of consumers and businesses, and so on.
These factors can be further broken down into macro-economic and micro-economic factors. Macro-economic factors deal with the management of demand in any given economy. Governments use interest rate control, taxation policy, and government expenditure as the main mechanisms they use for this.

Social Factors

Also known as socio-cultural factors, are the areas that involve the shared belief and attitudes of the population. These factors include – population growth, age distribution, health consciousness, career attitudes, and so on. These factors are of particular interest as they have a direct effect on how marketers understand customers and what drives them.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Boston Scientific is one of the major players operating in the Spinal Cord Stimulation (Scs) Devices market, holding a share of 23.71% in 2023.

Boston Scientific

Boston Scientific changes life by designing less invasive technologies for diagnosing and treating various medical conditions. In more than 100 countries/regions, Boston Scientific helps service providers to provide medical services more effectively by reducing costs, improving efficiency and expanding medical opportunities, so as to help more people in more places live longer and healthier lives.

St. Jude Medical (Abbott)

St. Jude Medical was acquired by Abbott Laboratories in January 2017. Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company sells medical devices, diagnostics, branded generic medicines and nutritional products.

Segmentation Overview:

Among different product types, Rechargeable segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Failed back syndrome (FBS) segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Spinal Cord Stimulation (Scs) Devices market covered in Chapter 3:

Medtronic
Nevro Corp.
Boston Scientific
St. Jude Medical (Abbott)

In Chapter 4 and Chapter 14.2, on the basis of types, the Spinal Cord Stimulation (Scs) Devices market from 2018 to 2029 is primarily split into:

Rechargeable
Non-Rechargeable

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Spinal Cord Stimulation (Scs) Devices market from 2018 to 2029 covers:

Painful Diabetic Neuropathy (PDN)
Degenerative disk disease (DDD)
Failed back syndrome (FBS)
Multiple back operations
Unsuccessful disk surgery

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)