Overview:

The global spinal cord stimulators market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Spinal cord stimulator (SCS) is also known as dorsal column stimulator. This is a neuromodulator device implanted under the skin, wherein it sends mild currents to spinal cord to treat pain. The spinal cord stimulation is followed preferably in nonsurgical pain treatment where other options are unable to provide relief from pain.

Market Dynamics:

Rising number of patients suffering from failed back syndrome and complex regional pain syndrome (CRPS) is a key factor driving growth of the global spinal cord stimulators market. In addition, rising awareness about spinal cord therapy in developing countries is another factor fueling growth of the target market.

In addition, rising incidence of trauma and various type of injury is another major factor propelling growth of the target market. Moreover, rising product launches by key players is among the other factor supporting market growth.

However, high cost of spinal cord stimulation devices is one of the key factors hampering growth of the global spinal cord stimulator market. However, during the forecast period it is expected that the cost of the devices will get low, thereby driving the market growth.

Key Trends:

Major players are receiving approvals for newly launched spinal cord stimulators in various regions which is a key trend observed in the market. For instance, in May 2020, NEVRO CORP. has received approval for Senza Omnia spinal cord stimulation system in Europe. Thus, such product approvals are expected to further drive the growth of the global market.

Regional Analysis:

For detailed understanding of market dynamics, the global market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounted for highest share in terms of revenue in the spinal cord stimulators market in 2019. Early adoption of advance technology and increased healthcare spending in the region are some of the key factors driving growth of the target market in North America.

The Asia Pacific market is expected to witness highest growth rate followed by Europe during the forecast period, owing to rising number of spinal surgeries and associated treatment in countries in the region.

Scope of the Report:

Detailed Segmentation:

Global Spinal Cord Stimulators Market, By Type:

• Rechargeable
• Non-Rechargeable

Global Spinal Cord Stimulators Market, By Application:

• Failed Back Surgery Syndrome
• Complex Regional Pain Syndrome
• Ischemic Limb Pain
• Others

Global Spinal Cord Stimulators Market, By End User:

• Hospitals
• Ambulatory Surgical Units
• Clinics

Key Players Covered:

Key players operating in the market includes, Boston Scientific Corporation, Integer Holdings Corporation, Abbott Laboratories, Medtronic, Nevro Corp, Stimwave LLC, LivaNova PLC, Autonomic Technologies Inc., and Nuvectra.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Spinal Cord Stimulators Market by type, application, end user, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global spinal cord stimulators market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.