14 Days To A Better North America Spinal Cord Stimulation Market

14 Days To A Better North America Spinal Cord Stimulation Market

The North America spinal cord stimulation market was valued at USD  675.8 million in 2020 and the market is estimated to grow at a CAGR of 10.82%

2021-09-21

The North America spinal cord stimulation market was valued at USD  675.8 million in 2021 and the market is estimated to grow at a CAGR of 10.82% in the forecast period to reach a market value of USD YY million by 2029.

North America is dominating the global spinal cord stimulation market in 2020 and is estimated to hold a significant market size over the forecast period (2022-2029) owing to the emerging guidelines, favorable health reimbursements, and increasing prevalence of spinal cord injuries.

The increasing prevalence of spinal cord injuries is expected to accelerate market growth. For instance, the most recent figures for the US alone, published in 2018 by the National Spinal Cord Injury Statistical Center, show that there are about 17,700 new SCI cases each year and an estimated 288,000 people with SCI currently living in the US. Also, more than 2.1 million people in the US suffer from substance abuse related to opioid pain relievers, while globally, an estimated 15.5 million people are now classified as opioid-dependent. Chronic pain is often a significant driver of opioid use as patients seek relief and improvement to their quality of life. Fortunately for patients, SCS therapy has been proven clinically to offer meaningful assistance to patients suffering from chronic pain.

The presence of an increased number of research and development activities in the region is expected to boost market growth. For instance, according to an article published on November 8, 2019, the researchers of the University of Wisconsin-Madison have published preclinical data from their collaboration to create externally powered neurostimulation systems by injecting fluid electrode material that cures in place. The project recently received a $2.1 million grant from the National Institutes of Health to support the development of a non-opioid alternative to treat chronic back pain. The injected stimulator elements would operate with power from a transcutaneous electrical stimulation unit.  Also, on November 5, 2019, an article about a chronic pain patient who recently found relief via spinal cord stimulation (SCS) notes that the government in British Columbia, Canada funds 28 SCS implants a year.

In addition, increasing reimbursements for innovations in devices, such as wireless remote techniques, are positively affecting the market growth in the region. Additionally, the factors such as an increase in awareness about the presence of spinal cord stimulation therapy, the presence of well-established healthcare facilities along with continuously evolving technologies, and the availability of highly skilled doctors and operators are estimated to drive the regional market.

Spinal cord stimulation therapy accounts for about 70% of all neuromodulation treatments in the United States. That number is expected to grow to manage a variety of chronic long-term conditions.

As per NCBI, today, an estimated 50,000 spinal cord stimulators are implanted annually in the US. SCS has demonstrated high success rates in previous and also recent studies, with findings showing that earlier use is linked to better outcomes

The need for increased use of SCS also should be considered in context with a current opinion on the risks of opioid use, and the DEA’s decision to reduce the production of schedule II opioid agents in the United States by 25% or more in 2017.

In addition, spine surgery recently has “come under attack,”, particularly in light of the recent New York Times article suggesting that surgeries such as spinal fusion are no better than alternative nonsurgical treatments.

In terms of market revenue, North America dominated the market owing to the company’s strong focus on R&D as well as key acquisitions that will assist it in developing innovative devices to manage chronic pain.

For instance, in September 2017, Medtronic plc announced FDA approval and launch of the Intellis platform in the US for the management of certain types of chronic intractable pain. It was developed to overcome limitations with current spinal cord stimulation systems, like battery performance. It can power the EvolveSM workflow, which standardizes the guidance and balances high-dose and low-dose therapy settings.

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Tel: +1 877 441 4866

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