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Global Spinal Cord Stimulators Market Influencing Factors by Top Companies like Boston Scientific Corporation, Abbott, Medtronic, Nevro Corp, Stimwave LLC, Integer Holdings Corporation and others
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Global spinal cord stimulators market is expected to undergo moderate growth in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. The market is expected to grow due to the rising levels of geriatric population, and chronic pain associated with this group of population.
Key Competitors:
• Boston Scientific Corporation
• Abbott
• Medtronic
• Nevro Corp
• Stimwave LLC
• Integer Holdings Corporation
• Autonomic Technologies Inc.
• LivaNova PLC
• Nuvectra
Market Drivers
• Rising levels of geriatric population globally giving rise to the population suffering from chronic pain
• Rising prevalence of minimally invasive surgeries and technological advancements regarding the products available is also expected to drive the market growth
Market Restraints:
• Side effects associated with the therapy and avoidance of the usage of this therapy in patients undergoing anticoagulation therapies as well as usage of any electronic devices in the human body
• High cost of products and lack of proper reimbursements with the devices is also expected to act as a restraint to the market growth
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Segmentation:
Product
• Rechargeable Spinal Cord Stimulator Systems
• Non-Rechargeable Spinal Cord Stimulator Systems
Application
• Sciatica
• FBS (Failed Back Syndrome)
• Arachnoiditis
• Degenerative Disk Disease
Geography
• North America
• South America
• Europe
• Asia-Pacific
• Middle East & Africa
Competitive Analysis:
Global spinal cord stimulators market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of spinal cord stimulators market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Developments in the Market:
• In January 2018, Nevro Corp announced that they had received US Food and Drug Administration approval for its spinal cord stimulation system “Senza II Spinal Cord Stimulation (SCS) System”, delivering HF10 therapy.
• In January 2017, Abbott announced the acquisition of St. Jude Medical Inc., along with its entire product portfolio along with the pharmaceuticals division. This acquisition is expected to create a global leader in medical devices.
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