September 26, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Spinal Cord Stimulation Devices Market Growth 2019-2024’, the worldwide spinal cord stimulation devices market is anticipated to amass US $2890 million by the year 2024.
Spinal cord stimulator is a kind of implantable neuromodulation device (pain pacemaker) which is used to send electrical signals to selected areas of the spinal cord for the treatment of specific pain conditions. Inability of conservative therapy to cure spinal pains, increasing geriatric population, and surging instances of spinal ailments are boosting the demand for spinal cord simulation (SCS) devices.
According to the report, global SCS devices market was worth US $2160 million in 2019 and is estimated to grow with a CAGR of 5% by the year 2024. The research also presents comprehensive insight about the segmental share, growth opportunities, challenges, drivers and trends impacting the market growth.
Spinal cord stimulation devices market is analyzed on the basis of product type, application spectrum and regional landscape. Speaking of the product type, the market is fragmented as non-rechargeable and rechargeable, wherein rechargeable segment dominate the market with 66% market share in 2017.
Considering the application spectrum, the SCS devices market is segmented as chronic pain, failed back surgery syndrome, complex regional pain syndrome and others. The failed back surgery syndrome segment led the market with 43.95% share in 2017.
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Based on the regional outlook, spinal cord stimulation devices market is divided into four major regions which are Americas, Asia Pacific, Europe, and Middle East & Africa. North America dominated the market with 56% consumption share in 2017, while Europe was the second largest consumer of the product with 24% share in the same year.
Prominent manufacturers/vendors operating in spinal cord stimulation devices market profiled in the report include Nuvectra, Medtronic, Nevro, Abbott (St. Jude Medical), and Boston Scientific.