In the year 2018, The Global Spinal Cord Stimulation (SCS) Market was valued at USD 1871.6 Million. By the year 2023, it is predicted to reach USD 2827.4 Million with pace of 8.6% CAGR. Spinal cord stimulation devices are medical devices. These services can be implanted under the skin and sends electric current to the spinal cord. This device contains of a small wire which carries current from a pulse generator to the nerve fibers of the spinal cord. So that, spinal cord stimulation devices aid in reducing the pain due to the electrical pulses and mask the pain signal from reaching your brain.
Growing need for spinal cord stimulation market and technological advancements in the specific field are estimated to drive the market.
Factors affecting market growth:
- Increasing adult population, rising demand for minimally invasive surgeries. (+)
- Technological advancements and therapies. (+)
- Growing cases of obesity, and increasing in elderly population. (+)
- Expensive costs of related therapies. (+)
- Strict regulatory policies. (-)
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Global Spinal Cord Stimulation (SCS) Market is segmented on the basis of
- Degenerative Disk Disease (DDD)
- Failed Back Syndrome (FBS)
- Unsuccessful Disk Surgery
- Complex Regional Pain Syndrome (CRPS)
- Multiple Back Operations
- Lumbar adhesive Arachnoiditis
- Product Type
The market is segmented based upon the various factors. Rechargeable devices are the largest segment with a market share of 61%, followed by Non-rechargeable Devices segment. Failed back surgery syndrome segment accounts for 36% of the market by application due to increasing number of cases, followed by complex regional pain syndrome.
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The major shareholders of the Global Spinal Cord Stimulation (SCS) Market include Stimwave, Greatbatch, St. Jude Medical, Nevro, Medtronic, and Boston.