A recent report published by Infinium Global Research on spinal cord stimulation market provides in depth analysis of segments and sub-segments in global as well as regional spinal cord stimulation market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional spinal cord stimulation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global spinal cord stimulation market. According to report the global spinal cord stimulation market is projected to grow at a CAGR of 7.5% over the forecast period of 2018-2024.
The spinal cord stimulation is a neuro stimulation therapy used to treat the certain pain condition like chronic pain by blocking the pain signals before they reach to the brain with the help of spinal cord stimulators. A spinal cord stimulator devices implanted under the patients skin, sends the electric signals to the specific areas of spinal cords to treat the pain. When the device is turned on, it modify the pain signal before it reaching to the brain. A spinal cord stimulator device contain small wire that carries the current (or electrical signals) and transmit it towards the nerve fibers of the spinal cord.
According to WHO, around the world, between 250,000 and 500,000 people suffer from spinal cord injury (SCI) every year .The rising incidence of spinal cord injuries, neurological disorder and the chronic back pain are the sizable factors that drives the growth of spinal cord stimulation market. In addition, growing geriatric population, and rising demand for minimally invasive surgeries also contributes towards the growth of spinal cord stimulation market. However, the high treatment cost and government regulations are hampering the market growth. Moreover, ongoing research and development in the spinal cord stimulation is expected to improve the market profitability and able to serve more opportunities in upcoming years.
Geographically, North America accounted for the highest share in the spinal cord stimulation market. In North America region the prevalence of chronic back pain is more that creates the demand of spinal cord stimulation among the population. According to the National Institute of Neurological Disorder and Stoke, about 80 percent of adults experience low back pain at any given time. In The U.S. 31 million people in the U.S. experience lower back pain says American Chiropractic Association. The Asia-pacific is expected to grow at the highest CAGR owing to rising demand of minimal intensive surgeries, improving healthcare infrastructure and healthcare expenditure.
The report on global spinal cord stimulation market covers segments such as, products, application and end user. On the basis of products the global spinal cord stimulation market is categorized into rechargeable and non-rechargeable. On the basis of application the global spinal cord stimulation market is categorized into failed back surgery syndrome, ischemic limb pain, complex regional pain syndrome and others. On the basis of end user the global spinal cord stimulation market is categorized into clinics, hospitals and ambulatory surgical units.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global spinal cord stimulation market such as, ST. JUDE MEDICAL, Boston, Medtronic, Stimwave, Nevro, Greatbatch and others.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global spinal cord stimulation market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of spinal cord stimulation market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the spinal cord stimulation market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the spinal cord stimulation market to understand the present and future trends in this market and formulate their strategies accordingly.
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