At 7.4% CAGR, Europe Spinal Cord Stimulation Device for Chronic Pain Market is Projected to be Worth US$ 1,412.01 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe spinal cord stimulation device for chronic pain market was valued at US$ 799.87 million in 2022 and is expected to reach US$ 1,412.01 million by 2030, registering a CAGR of 7.4% from 2022 to 2030. Rising number of spinal cord injuries and availability of innovative treatments in European union are among the critical factors attributed to the Europe spinal cord stimulation device for chronic pain market expansion.

According to a report published by the Association for Spinal Injury Research, Rehabilitation and Reintegration (Aspire, UK), ~2,500 people are diagnosed with spinal cord injuries (SCIs) annually in the UK. Currently, ~50,000 people are living with SCIs in the country. An elevated number of cases is attributed to emerging motocross and motorcycling competitions as the most popular sporting activities in the UK, as per the National Institute of Health (NIH) report. With rising motor sporting activities among the youth and senior age group population, there is an increase in the incidence of SCIs among the participants of these events. SCIs have life-changing impacts on the injured patients and their families. Owing to the rising incidence of SCIs, results in at least one readmission of the patient every year. This is because SCIs are not treated at once. The causes of rehospitalization include respiratory and urinary tract infections, and fractures occurring during motorcycling sports activities.

The London Spinal Cord Injury Center (LSCIC) is 1 of the 11 organizations in the UK dedicated to treating SCI patients. At the LSCIC, patients undergo a rehabilitation program that takes years and is best delivered through lifelong intervention. With rising SCI and the availability of a well-developed infrastructure in treatment centers providing rehabilitation programs, demand for spinal cord stimulation devices is surging in specialized or rehab centers, which fuels the market growth.

On the contrary, product recalls hamper the growth of Europe spinal cord stimulation device for chronic pain market.

Based on product type, the Europe spinal cord stimulation device for chronic pain market is bifurcated into rechargeable and non-rechargeable. The rechargeable segment held 72.6% share of the Europe spinal cord stimulation device for chronic pain market in 2022, amassing US$ 580.52 million. It is projected to garner US$ 1,042.85 million by 2030 to expand at 7.6% CAGR during 2022-2030.

In terms of application, the Europe spinal cord stimulation device for chronic pain market is segmented into failed back syndrome, complex regional pain syndrome, degenerative disk disease, and others. The complex regional pain syndrome segment held 40.3% share of the Europe spinal cord stimulation device for chronic pain market in 2022, amassing US$ 322.63 million. It is estimated to garner US$ 563.40 million by 2030 to expand at 7.2% CAGR during 2022-2030.

By end user, the Europe spinal cord stimulation device for chronic pain market is segmented into hospitals, ambulatory surgery centers (ASCS), and others. The hospitals segment held 68.2% share of Europe spinal cord stimulation device for chronic pain market in 2022, amassing US$ 545.48 million. It is predicted to garner US$ 970.56 million by 2030 to expand at 7.5% CAGR during 2022-2030.

Based on country, the Europe spinal cord stimulation device for chronic pain market is categorized into Germany, France, United Kingdom, Spain, Italy, Switzerland, Sweden, Poland, Belgium, Slovakia, Czech Republic, Greece, Ireland, the Netherland, and the Rest of Europe. Germany held 21.3% share of Europe spinal cord stimulation device for chronic pain market in 2022, amassing US$ 170.70 million. It is projected to garner US$ 311.52 million by 2030 to expand at 7.8% CAGR during 2022-2030.

Key players operating in the Europe spinal cord stimulation device for chronic pain market are Boston Scientific Corp, Abbott Laboratories, Medtronic Plc, Biotronik SE & Co KG, Nevro Corp, Cirtec Medical Corp, and Synapse Biomedical Inc, among others.

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