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Explored in latest research Spinal Cord Stimulation (SCS) System Market Size & Share, Growth, Trends and Forecast 2017 - 2025
The main objective of this report is to define, describe, and forecast the global “Spinal Cord Stimulation (SCS)” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.
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Spinal cord stimulation (SCS) systems are used to modulate the nervous system to improve biological functioning of spinal cord. Spinal cord stimulation (SCS) systems involve modulation of electrical signals transferred from the brain to various organs and vice versa. The Spinal cord stimulation (SCS) systems either function by stimulating the nerve impulse or inhibit the pain signals at the target site. This technology improves the lives of patients who are suffering from the profound loss of their sense organs or are severely paralyzed. A small spinal cord stimulation device is surgically implanted under the skin, which sends mild electrical signals to the spine, causing different sensation to the area of chronic pain. It also modifies pain signals before they reach the brain.
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. 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.
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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
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.
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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