Published Date: 16-Oct-2019
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According to a new report Global Spinal Cord Stimulation Devices Market, published by KBV Research, The Global Spinal Cord Stimulation Devices Market size is expected to reach $2.8 billion by 2025, rising at a market growth of 8% CAGR during the forecast period.
Geographically, the largest share in the industry for spinal cord stimulation was held by North America. The incidence of chronic back pain in North America is more likely to create the demand for stimulation of the spinal cord among the people. Approximately 80 percent of adolescents encounter low back pain at any given time (as per the National Institute of Neurological Disorder and Stroke). In the U.S. 31 million people have lower back pain, says the American Chiropractic Association. Asia-Pacific is anticipated to expand at the highest CAGR due to increased demand for minimally intensive surgery, enhancing health infrastructure, and spending on health care. Additionally, The Europe market is expected to witness a CAGR of 7.6% during (2019 - 2025).
Rechargeable devices are expected to become more prevalent over the years to come, hence, attribute major market share in the Global Spinal Cord Stimulation Devices Market by Product. This can be attributed to their flexibility, cost-effectiveness, and controlling pain management & wireless remote technologies. Devices like these release mild electrical signals to the spinal cord near the painful points; this helps to block the neuropathic pain. It also contains a battery that is easily replaceable through surgical processes. The Non-Rechargeable however, showcases a CAGR of 9.6% during (2019 - 2025).
The Complex Regional Pain Syndrome market dominated the Global Spinal Cord Stimulation Devices Market by Applications in 2018, growing at a CAGR of 7.6 % during the forecast period. The Unsuccessful Disk Surgery market is expected to witness a CAGR of 8.4% during (2019 - 2025).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Boston Scientific Corporation, Medtronic PLC, Abbott Laboratories (St. Jude Medical, Inc.), Neurosigma, Inc., Nevro Corporation, Synapse BioMedical, Inc., Integer Holdings Corporation, Stimwave Technologies, Inc., Nuvectra Corporation and Saluda Medical Pty Ltd.
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