According to the report “Global Spinal Cord Stimulation Market,” published by Market Data Forecast, the global market is projected to reach USD 2718 million by 2021, at a CAGR of 8.6% from 2016 to 2021.
Finding effective treatment for chronic pain especially chronic back and neck pain, can be challenging. When surgery or other treatments have been unsuccessful or are not an option, spinal cord stimulation or peripheral nerve field stimulation therapy may offer relief and improved daily functioning.
Spinal cord stimulation blocks the sensation of pain by using a low voltage stimulation to spine. It is a small device implanted in the body to transmit an electrical current to the spinal cord. When it turns on, the stimulation feels as a mild tingling in the area of pain. It helps the patients to better manage symptoms and will potentially decrease the use of pain medications. It may also be an option if you have an arm pain or chronic leg, and have not found relief with other therapies. Due to this simulation, It helps patients better to manage their chronic pain symptoms and also to decrease the use of opioid medications. Some strokes or pains like chronic back, leg or arm pain can get rid of this pain by using this stimulation, which has not found relief with other therapies.
Unlike most surgical procedures, spinal cord stimulation therapy is reversible. If a person decides at any time to discontinue the therapy, the electrical contacts, wires, and generator can all be removed and there are no permanent changes to the spine. The therapy does not have the type of side effects associated with many medications. Researchers have found that the costs associated with spinal cord stimulation compare favorably with alternatives, including non-surgical treatments.
Get a comprehensive overview of the Global spinal cord stimulation (SCS) market: http://www.marketdataforecast.com/market-reports/global-spinal-cord-stimulation-market-1306/
Global Spinal Cord Stimulation Market: Drivers & Restraints
The major factors that are driving the growth of the market are growing adult population, rising demand for minimally invasive surgeries, innovation of new technologies & therapies, increasing cases of obesity, and increasing in aging demographics. However, there are number of factors that are challenging the growth of the Spinal cord Stimulation market like high cost related with therapy, stringent regulatory approvals, and major reliance on traditional SCS therapy.
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Global spinal cord stimulation (SCS) market: Segmentation
- Degenerative Disk Disease (DDD)
- Failed Back Syndrome (FBS)
- Unsuccessful Disk Surgery
- Complex Regional Pain Syndrome (CRPS)
- Multiple Back Operations
- Lumbar adhesive Arachnoiditis
By Product Type
- Ambulatory Surgery Centers (ASC’s)
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Global spinal cord stimulation (SCS) market: Overview
Spinal cord stimulator segment is the largest product segment in Global spinal cord stimulation (SCS) market. This product is expected to witness high demand due to extensive use of applications, growing demand in healthcare institutions and clinics, and subsequent commercialization of products in faster growing product segments. Hospitals are major end-users of SCS devices and accounted for around 75% of the total market share during 2015
As discussed earlier, much of the region’s growth is likely to come from the high investments by top manufacturers to improve product compatibility and patient safety. Majority of the region’s revenue comes from the US due to technological advancements and the availability of reimbursement facilities in the country. With the growing preference for SCS devices by the surgeons’ in MIS technique for chronic back pain management, the market will witness huge growth in the region during the forecast period.
Global spinal cord stimulation (SCS) market: Region-wise Outlook
The Spinal Cord Stimulation market is analyzed under various regions namely North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America has the highest share in the market followed by Europe and Asia-Pacific due to the presence of top manufacturers in the region. Asia-Pacific is accounted to have highest CAGR over the forecast period owing to increasing prevalence in pain. Demand is gradually increasing in the emerging markets like Asia-Pacific and Latin America, The Americas is the largest revenue-contributing region in the SCS market and is expected to occupy around 59% of the overall market revenue during the forecast period.
Key Questions Answered
- What is the current and future spinal cord stimulation (SCS) market outlook in worldwide? What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the spinal cord stimulation (SCS) space in global?
- What are the key, high growth markets that spinal cord stimulation (SCS) manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the spinal cord stimulation (SCS) currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of spinal cord stimulation (SCS)?
- What are the challenges and barriers that have hindered widespread adoption of spinal cord stimulation (SCS)?
Global spinal cord stimulation (SCS) market: Key Players
Some of the major companies operating in the Global spinal cord stimulation (SCS) market are Boston, Medtronic, Nevro, St. Jude Medical, Greatbatch, Stimwave. In these new players like Stimwave, Greatbatch are expected to grow in the market in coming years. The companies like Boston Scientific, Medtronic Plc, Nevro Corporation, and St. Jude Medical are making higher investments in several research activities to launch new devices.
Reasons to buy Global spinal cord stimulation (SCS) market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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