Global Spinal Cord Stimulators Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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MarketResearch.biz delivers in-depth insights on the global spinal cord stimulators market in its upcoming report titled, “Global Spinal Cord Stimulators Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global spinal cord stimulators market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global spinal cord stimulators market report has been segmented on the basis of product type, application, end user, and region.
Spinal cord stimulation is a type of therapy; used on patients suffering from chronic pain and in need of reducing use of opioid medication, it basically masks pain signals sent to the brain. Spinal cord stimulator is a small device, similar to a pacemaker, which is implanted in the patient’s body so as to deliver electrical pulses to the spinal cord. A spinal cord stimulator (SCS) device is surgically placed beneath the skin, which sends mild electric currents to the spinal cord. When turned on, the SCS stimulates the nerves in the area where your pain is felt. Pain is reduced because the electrical pulses modify and mask the pain signal from reaching your brain. Stimulation does not eliminate the source of pain, it simply interferes with the signal to the brain, and so the amount of pain relief varies from person to person.
Increasing incidence of chronic neurological disorders such as Parkinson’s disease, epilepsy, etc. in developed and developing economies is a major factor driving growth of the global spinal cord stimulators market. In addition, increasing incidence of lifestyle related diseases due to sedentary lifestyle, stress, high blood pressure, etc. and growing adoption of spinal cord stimulators as compared to opioids are other major factors expected to fuel growth of the global spinal cord stimulators market over the forecast period.
However, high costs associated with procurement and use of spinal cord stimulators is a major factor restraining growth of the global spinal cord stimulators market. Additionally, problems such as spinal cord stimulators being useful, only to mask pain signals but are of no use to treat the underlying pain coupled with device-related complications and mandatory surgery required are all other factors limiting adoption of spinal cord stimulators which is hampering growth of the global spinal cord stimulators market over the forecast period.
Currently, the market in North America dominates the global spinal cord stimulators market in revenue terms owing to growing awareness about these devices, presence of proper healthcare infrastructure, and increasing incidence of neurological disorders in the region. The market in Europe accounted for second-highest revenue share in the global spinal cord stimulators market, due to high healthcare expenditure by governments of countries, and high disposable income, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing number of patients suffering from chronic neurological diseases, and rise in government initiatives for improvement of healthcare facilities in countries in the region.
Global spinal cord stimulators market segmentation:
By product type:
- Degenerative Disk Disease (DDD)
- Failed Back Syndrome (FBS)
- Complex Regional Pain Syndrome (CRPS)
By end user:
- Ambulatory Surgical Units
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Boston Scientific Corporation
- Medtronic Plc.
- NeuroSigma, Inc.
- Nevro Corp
- Stimwave LLC
- Synapse Biomedical Inc.
- Jude Medical Inc.
- NDI Medical LLC
- NeuroPace, Inc.
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