Spinal Cord Stimulation Market is projected to expand at a steady CAGR over the forecast by 2031 | Synapse Biomedical Inc, NeuroSigma Inc, Medtronic, Greatbatch, NDI Medical LLC

New York, According to a new market research report published by Global Insight Services Spinal Cord Stimulation Market is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Spinal Cord Stimulation (SCS) is a therapy that uses a low-voltage electrical current to treat chronic pain. The electrical current is delivered to the spinal cord through a device called a stimulator, which is implanted under the skin. SCS is most often used to treat pain that is not relieved by other treatments, such as medication, physical therapy, and surgery.

Key Trends

There are a few key trends in Spinal Cord Stimulation technology. First, there is a trend towards smaller and more compact devices. This is due to the fact that patients are increasingly active and want to be able to take their device with them wherever they go.

Second, there is a trend towards more patient-friendly devices. This means that devices are being designed to be easier to use and more comfortable to wear.

Third, there is a trend towards longer-lasting battery life. This is because patients want to be able to use their device for a longer period of time without having to worry about charging it.

Key Drivers

The key drivers of the Spinal Cord Stimulation market are technological advancements, rising prevalence of chronic pain, and increasing number of geriatric population.

Technological advancements in the field of Spinal Cord Stimulation have led to the development of new and improved devices which are more efficient and effective in treating chronic pain.

The rising prevalence of chronic pain is another major driver of the Spinal Cord Stimulation market. According to the World Health Organization, chronic pain affects more than 20% of the world's population.

The increasing number of geriatric population is another key driver of the Spinal Cord Stimulation market. This is due to the fact that older adults are more likely to suffer from chronic pain as compared to younger adults.

Restraints & Challenges

The key restraints and challenges in the Spinal Cord Stimulation market include the high cost of the procedure, the lack of reimbursement, and the limited number of trained physicians.

The high cost of the procedure is a major barrier to adoption, as it is not covered by insurance in most cases.

The lack of reimbursement is a significant challenge, as it limits the number of patients who can afford the procedure.

The limited number of trained physicians is another major challenge, as there are only a handful of centers in the United States that offer the procedure.

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Market Segmentation

The Spinal Cord Stimulation Market is segmented by application, product and region. By application, the market is bifurcated into degenerative disk disease and CRPS. By product, the market is divided into rechargeable and non-rechargeable. By region, the market is segmented into North America, Europe, Asia-Pacific and rest of the world.

Key Players

The key players in the Spinal Cord Stimulation Market market are Nevro Corp., St. Jude Children's Research Hospital , Synapse Biomedical Inc , NeuroSigma Inc , Medtronic, Greatbatch , NDI Medical LLC, NeuroPace Inc. , Abbott and Autonomic Technologies Inc.

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Reasons to buy Spinal Cord Stimulation Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
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• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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