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Detailed examination of Spinal Cord Stimulator Market Size & Share, Growth, Trends, and Forecast 2017 - 2025
The objective of this report is to define, describe, and forecast the market on the basis of type, application, medical condition, and region. It provides detailed information regarding the major factors influencing the growth of the market. This report also tracks and analyzes competitive developments of the key players in terms of market developments, product portfolios, and financials.
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Spinal cord stimulator (SCS) is also known as dorsal column stimulator. The system comprises and an electric pulse generator. Functioning of the spinal cord stimulator is based on the pain management therapy. The spinal cord stimulator hinders transmission of pain signals to the brain so that the brain does not identify the pain. The device gives positive, symptomatic, and long-term effects in cases of sciatica, cervical radiculopathy, failed back surgery syndrome (FBSS), reflex sympathetic dystrophy, arachnoiditis, and peripheral neuropathy. Spinal cord stimulation received approval from the U.S. FDA in 1989 for indications such as nerve damage in the trunk, arms, or legs. According to a study conducted by the Institute of Medicine of The National Academies, 100 million people in the U.S. suffer from chronic pain. Moreover, the study states that the incidence rate of lower back pain is the maximum. Lower back pain accounted for around 30% of all kinds of chronic pain.
The spinal cord stimulators market is large-sized and relatively untouched. Spinal cord stimulators possess high potential to treat widespread chronic back pain. The global spinal cord stimulators market is anticipated to witness significant growth in the next few years due to rising geriatric population, increasing demand for minimally invasive surgeries, and technological advancements across the world. In May 2015, Nevro Corporation received the U.S. FDA’s approval for its Senza spinal cord stimulator (SCS) system. This implantable and rechargeable system helps in relieving chronic pain in the limbs and the trunks. The upcoming product innovations and new product launches are expected to boost the market from 2017 to 2025. However, factors such as unfavorable reimbursement scenario, lack of trained professionals, and high cost of products and treatment are hindering the market for spinal cord stimulators. According to a survey conducted by ECRI Institute in January 2015,
The global spinal cord stimulators market has been classified based on product, application, end-user, and geography. Based on product, the market has been segmented into rechargeable spinal cord stimulator systems and non-rechargeable spinal cord stimulator systems. Compact size, user-friendly nature, and launch of new rechargeable systems are some of the factors fueling the rechargeable systems segment.
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Based on application, the global spinal cord stimulators market has been divided into sciatica, failed back syndrome (FBS), arachnoiditis, degenerative disk disease, and others. High prevalence of chronic back pain and disk surgery and increasing demand for devices providing rapid relief are major factors likely to increase the demand for spinal cord stimulators during the forecast period. The market is anticipated to witness high growth in the next few years, due to rise in the number of health care organizations and clinics and commercialization of products across the globe. Hospitals is anticipated to be a major end-user segment of the SCS systems market and is anticipated to dominate the market during the forecast period.
Geographically, the global spinal cord stimulators market has been classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The U.S. was the largest market in terms of revenue in 2016. while the market in is likely to expand at the most rapid pace during the forecast period.
Boston Scientific, St. Jude Medical, Medtronic Plc, Nevro Corporation are key players operating in the global market for spinal cord stimulators. They are making investments in research activities to launch new devices. Several new entrants such as Stimwave, Greatbatch, Autonomic Technologies, Inc., and Cyberonics are planning to expand in the global spinal cord stimulators market in the near future.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
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Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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