Medtronic's recent FDA approval for its closed-loop spinal cord stimulation (SCS) device, named "Inceptiv," has sparked significant interest in the SCS market. This milestone signals a pivotal moment for Medtronic and presents promising opportunities for market expansion, according to insights from GlobalData, a leading data and analytics company.

While Medtronic is not the first to introduce closed-loop SCS technology (Saluda Medical received FDA approval in 2022), it is the first major player in the market to gain approval for such a device. This strategic advantage positions Medtronic to potentially increase its market share, especially as the market gradually shifts towards closed-loop devices.

Currently, Medtronic holds approximately 29% of the rechargeable SCS market, with competitors Nevro, Boston Scientific, and Abbott accounting for 25%, 24%, and 13% of the market, respectively.

Aidan Robertson, Medical Analyst at GlobalData, notes, "Medtronic's development of closed-loop technology in the SCS market gives the company a competitive edge. This innovation is expected to bolster its standing in the market, as the benefits of closed-loop devices over open-loop alternatives garner significant interest."

Closed-loop SCS devices offer a distinct advantage over open-loop devices by allowing real-time adjustment of stimulation output based on signals from the body. This personalized approach minimizes the risk of overstimulation and enhances patient comfort and satisfaction.

With the aging population driving demand for SCS devices to manage chronic pain conditions, the spinal cord stimulation market is poised for growth. Advanced technologies like closed-loop SCS are anticipated to gain traction among patient populations, leading to a gradual shift towards these innovative products.

Robertson concludes, "With Medtronic leading the charge in closed-loop SCS devices, GlobalData anticipates a notable increase in sales within this market following the launch of Inceptiv."