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New Report Examines the Spinal Cord Stimulation (SCS) System Market Research
Spinal cord stimulation devices are neuromodulation devices dealing with non-malignant chronic neuropathic pain management. The spinal cord stimulator is primarily used to mask the pain by producing tiny nerve impulses without making any anatomical changes to the target area. Spinal cord stimulation devices have varied applications for chronic non-malignant pain management purposes. They are used to curb neuropathic non-malignant pain, peripheral nerve injuries, FBSS (failed back surgery syndrome), CRPS (complex regional pain syndrome), peripheral vascular diseases, and urinary incontinence.
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Spinal cord stimulation devices have been successful in curbing pain and their minimally invasive nature allows patients to recover faster. The device is superficially placed in the body, making it easily removable. The spinal cord stimulation system market is driven by rising incidences of neurological disorders such as Parkinson’s disease, epilepsy, incidences of depression related disorders, and chronic back pain. However, high cost of treatment and stringent regulatory scenarios are some factors restraining the market.
The spinal cord stimulation system market has been segmented into product, application, end-user, and geography. Based on product, the market has been segregated into conventional system, rechargeable system, and radiofrequency system. In terms of application, the spinal cord stimulation (SCS) system market has been divided into sciatica, failed back syndrome (FBS), degenerative disk disease (DDD), unsuccessful disk surgery, multiple back operations, complex regional pain syndrome (CRPS), and arachnoiditis or lumbar adhesive arachnoiditis. Based on end user, the spinal cord stimulation (SCS) system market has been categorized into hospitals, clinics, and ambulatory surgical centers.
In terms of geography, the global spinal cord stimulation system market has been classified into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global spinal cord stimulation system market in 2016, owing to increasing prevalence of chronic back pain and rising patient pool for spinal cord stimulation. According to the American Chiropractic Association, people in the U.S. spend around US$ 50 Bn each year on back pain and 31 million people in the U.S. experience lower back pain at any given time.
In terms of revenue, Europe is expected to be the second largest market in the forecast period. The market is Europe is expected to expand due to rapid economic development and increase in health care expenditure. Asia Pacific is expected to register high growth rate between 2017 and 2025, due increasing demand for minimally invasive surgeries and rising disposable income. In Middle East & Africa countries increasing healthcare expenditure and improving healthcare infrastructure are likely to drive the growth of the spinal cord stimulation (SCS) system market
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Key players operating in the global spinal cord stimulation (SCS) system market include Boston Scientific Corporation, Medtronic, NeuroSigma, Inc., Nevro Corp, Stimwave LLC, and Synapse Biomedical Inc.
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