Spinal Cord Stimulation Devices Market Scope
Spinal cord stimulation devices are used for treating chronic pain by modifying and blocking the pain signals before they reach the brain to relieve severe intractable pain. According to the National Institute of Neurological Disorders and Stroke (NINDS), 90.0% of cases complex of regional pain syndrome occur due to trauma and injury. Thus, the increasing number of patients suffering from chronic neuropathic pain drive market growth. Further, market players are focusing on new product development and technological advancements in the spinal cord simulators propelling market growth.
According to AMA, the Global Spinal Cord Stimulation Devices market is expected to see growth rate of 5.12%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Spinal Cord Stimulation Devices market throughout the predicted period.
Boston Scientific (United States), Medtronic plc (Ireland), Nevro corp. (United States), St. Jude Medical (United States), Greatbatch Medical (United States), Synapse Biomedical, Inc. (United States), Neurosigma, Inc. (United States), Neuropace, Inc. (United States) and Neuronetics, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Cyberonics, Inc. (United States), Stimwave (United States) and BioControl Medical (Israel).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Spinal Cord Stimulation Devices market by Type (Rechargeable and Non-Rechargeable), by Application (Degenerative disk disease (DDD), Failed back syndrome (FBS), Multiple back operations, Unsuccessful disk surgery, Complex regional pain syndrome (CRPS) and Arachnoiditis or lumbar adhesive Arachnoiditis) and Region with country level break-up.
On the basis of geography, the market of Spinal Cord Stimulation Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
31st January 2019, Boston Scientific Corporation, manufacturer of medical devices launched the Spectra WaveWriter Spinal Cord Stimulator (SCS) System in Europe. The system offers numerous non-drug therapies for patients with chronic pain.
“In 2014, Food and Drug Administration (FDA) approved spinal cord stimulation (SCS) as a treatment for failed back surgery syndrome (FBSS), chronic pain, complex regional pain syndrome, intractable angina, as well as visceral abdominal and perineal pain and pain in the extremities from nerve damage."
Market Trend
- Technological Advancement in the Spinal Cord Stimulators
- Development of Spinal Cord Simulators with Wireless Remote Techniques
Market Drivers
- Increasing Number of Patients with Neurological Disorders
- Growing Prevalence of Failed Back Syndrome
Opportunities
- Increasing Demand of Rechargeable Spinal Cord Stimulation Devices
- Growing Healthcare Infrastructure in the Developing Economies
Restraints
- Stringent Government Regulations Regarding Medical Devices
- Lack of Skilled Medical Professionals
Challenges
- Lack of Awareness in the Emerging Countries
Key Target Audience
Spinal Cord Stimulation Device Manufacturers, Spinal Cord Stimulation Devices Suppliers, Associations and Industrial Bodies, Healthcare Institutes, Government and Research Organizations, Market Research and Consulting Firms and Others