The Global Spinal Cord Stimulation Market consists of different international, regional, and local vendors. The market competition is foreseen to grow higher with the rise in technological innovation and M&A activities in the future. Moreover, many local and regional vendors are offering specific application products for varied end-users. The new vendor entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
Spinal cord stimulation (SCS) is a therapy for people who are not relieved from back or neck pain by surgeries and other treatments. It helps to treat pain by hiding pain signals before reaching brain. A device is implanted in body to deliver the signals to spinal cord. Battery attached to pulse generator are of two types, non-rechargeable and rechargeable batteries for the power demand of device.
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Failed back surgery is the most common reason for spinal cord stimulation surgery. SCS is a two step process to determine whether spinal cord stimulation will work for the patients or not. Trial spinal cord stimulation is a test drive to determine if therapy will provide pain relief to the patient or not. After the implantation in trial, patient considers the permanent implantation of device based on pain relief improvement.
The U.S. is the main contributor to the SCS market with increasing chronic back pain prevalence and rising addressable population for SCS. The U.S. has great potential in the years ahead with favorable reimbursement policies and improved health service quality. The growth of SCS outside the U.S. is driven by increasing awareness and need for new therapies and devices. The market is relatively small due to lack of reimbursements, that limits the growth of the market.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
The global SCS market is expected to grow in future due to growing ageing population, increase in health care expenditure and rising obese population. Key trends of this market include favorable reimbursement landscape in the U.S., launch of new products, awareness regarding early treatments, increase in trial SCS treatments, increasing demand for minimally invasive surgeries, increase SCS for predominant back pain and rising mergers & acquisitions activities. However, high cost of treatment, tough regulatory problems and dependency on traditional therapies are some of the factors posing challenge for the market growth.
The report Global Spinal Cord Stimulation Market: Industry Analysis & Outlook (2017-2021) by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the U.S. and Outside the U.S. region. The report profiles the key players of the market including Nevro Corporation, Medtronic Plc., Abbott Laboratories (St. Jude) and Boston Scientific.
The report Global Spinal Cord Stimulation Market: Industry Analysis & Outlook (2017-2021) by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the U.S., and Europe region along with the global market. The report profiles the key players of the market including Johnson & Johnson, Medtronic plc, Abbott Laboratories and DexCom Inc.
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