Dublin, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The "Global Spinal Cord Stimulation Market (2021-2026) by Product, Disease, End User and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Spinal Cord Stimulation Market is estimated to be USD 2.1 Bn in 2021 and is expected to reach USD 3.2 Bn by 2026, growing at a CAGR of 8.9%.
A spinal Cord Stimulator (SCS) device is surgically placed under your skin and sends a mild electric current to your spinal cord. Thin wires carry current from a pulse generator to the nerve fibers of the spinal cord. When turned on, the SCS stimulates the nerves in the area where your pain is felt.
Factors such as increasing incidence of the failed back syndrome, availability of medical reimbursements, increase in the number of patients suffering from chronic pain and increasing incidence of complex regional pain syndrome are drivers for the market. Whereas adverse risks associated with spinal cord stimulation devices are restraints for the market growth.
Growing awareness in developing countries provides an opportunity for the market's growth through the availability of therapies poses a challenge.
Market Segmentation
- By Product, the market is classified into Rechargeable and Non-Rechargeable segments.
- By Disease, the market is classified into Failed Back Surgery Syndrome (FBSS), Degenerative Disc Disease (DDD), Complex Regional Pain Syndrome (CRPS), Arachnoiditis, Ischemic Limb Pain, and Others. Amongst all, the Failed back surgery syndrome (FBSS) segment is expected to contribute the highest growth.
- By End User, the market is classified into Hospitals, Ambulatory Surgical Units, Speciality Clinics segments. Amongst all segments, the Hospitals segment is expected to grow at the highest CAGR.
- By Geography, North America is projected to lead the market.
Recent Developments
- Medtronic receives approval for labeling of the Intellis platform showing superior back pain relief when using DTM spinal cord stimulation - 17th March 2021
- Nervo announced that it has agreed to dismiss its patent case against Boston Scientific relating to high-frequency spinal cord stimulation therapy - 15th December 2020
Market Influencers
Drivers
- Increasing Incidence of Failed Back Syndrome
- Availability of Medical Reimbursements
- Increase in Number of Patients Suffering from Chronic Pain
- Increasing Incidence of Complex Regional Pain Syndrome
Restraints
- Adverse Risks Associated with Spinal Cord Stimulation Devices
Opportunities
- Growing Awareness in Developing Countries
Challenges
- Availability of Therapies
Company Profiles
- Abbott Laboratories
- Autonomic Technologies Inc.
- Beijing PINS Medical Co., Ltd
- BioControl Medical (B.C.M) Ltd.
- Bioinduction
- Bluewind Medical
- Boston Scientific Corporation
- Cirtec Medical Corporation
- Gimer Medical
- Greatbatch, Inc.
- GTX Medical
- Helius Medical Technologies
- Integer Holdings Corporation
- LivaNova PLC
- Medtronic PLC
- Microtransponder
- Neuronano
- Neuronetics Inc.
- Neuropace Inc.
- NeuroSigma, Inc.
- Nevro Corp.
- Nuvectra
- Saluda Medical Pvt ltd
- Soterix Medical
- Spinal Modulation
- Stimwave LLC
- Synapse Biomedical, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/1mwnac
