Spinal Cord Stimulation Market to Reach USD 4.12 Billion at 8.0% CAGR by 2027; Introduction of Non-opioid Alternative Therapies to Boost Market, states Fortune Business Insights™

Spinal Cord Stimulation Market to Reach USD 4.12 Billion at 8.0% CAGR by 2027; Introduction of Non-opioid Alternative Therapies to Boost Market, states Fortune Business Insights™

GlobeNewswire

Published

Key Prominent Players Covered in the Spinal Cord Stimulation Market Research Report Are Boston Scientific Corporation, Medtronic, Abbott, Nevro Corp, Nuvectra, Stimwave LLC and other key market players.

Pune, India, Jan. 18, 2021 (GLOBE NEWSWIRE) -- The global spinal cord stimulation market is expected to reach USD 4.12 billion by 2027, exhibiting a CAGR of 8.0% during the forecast period. The increasing acceptance of minimally invasive therapies can have a tremendous impact on the global market, states Fortune Business Insights, in a report. The market size stood at USD 2.88 billion in 2019.

*Favorable Government Guidelines to Intensify Market *

The favorable policies pertaining to spinal cord stimulation therapy is expected to bolster the healthy growth of the market. Numerous government associations are introducing guidelines for the treatment of chronic pain and other disease indications, which, in turn, will aid the expansion of the market.

*
*

*Request a Sample Copy of the Research Report: *https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/spinal-cord-stimulation-market-100313

For instance, in January 2019, National Institute for Health and Care Excellence published guidelines and recommendations for the Senza SCS system, which delivers HF10 therapy to treat patients having neuropathic pain. Moreover, the rising shift towards non-opioid alternative therapies coupled with high demand for spinal cord stimulation will uplift the market in the near future. For instance, in 2018, the FDA received over 200 submissions from companies seeking a speedy approval process for devices that can be used in place of opioids for pain management.

We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain this global pandemic. 

*Rescheduling of Effective Surgeries to Restrict Market Amid COVID-19*

The postponement of selective and non-urgent surgeries by the government to administer COVID-19 patients has subsequently affected the growth of the market. According to COVIDSurg, around 28.4 million surgeries were canceled or postponed during the peak of 12 weeks of disruption due to COVID‐19. Many companies operating in the market reported a major drop in revenue during the pandemic.

*
*

*Click here to get the short-term and long-term impact of COVID-19 on this Market.*

*Please visit: *https://www.fortunebusinessinsights.com/industry-reports/spinal-cord-stimulation-market-100313

For instance, Abbott’s neuromodulation segment reported a 30.1% decline in the global revenues during the first quarter of 2020 when compared to the same period in 2019. Similarly, the neuromodulation segment of Boston Scientific Corporation witnessed a 24.6% decline in sales globally during the first six months of 2020 when compared to the same period in 2019.

*Prevalence of **Disc Diseases to Augment Growth in Europe *

North America accounted for the maximum share of the market primary due to the rapid adoption of neuromodulation therapies. The market in Europe is expected to grow owing to the rising cases of degenerative disc diseases and chronic pain. The introduction of innovative systems by companies will enable speedy expansion of the market in the region.

For instance, in January 2019, the launch of Spectra WaveWriter spinal cord stimulator system by Boston Scientific in Europe. Asia Pacific is likely to account for a considerable in the global market during the forecast period. The growth is attributed to the rapid adoption of neuromodulation therapies. The surging geriatric population is expected to bode well for the market in Asia Pacific. The growing demand for minimally invasive therapies will further incite the development of the market in the region.

*
*

*Quick Buy -  Spinal Cord Stimulation Market Research Report: *https://www.fortunebusinessinsights.com/checkout-page/100313

*
*

*Key Development*:

*September 2018: *Nevro, a medical device company announced that it has received TGA approval for Senza II, the company’s second-generation spinal cord stimulation system.

*The Report Lists the Key Companies in the Global Spinal Cord Stimulation Market:*

· Boston Scientific Corporation (Massachusetts, U.S.)
· Medtronic (Dublin, Ireland)
· Abbott (Illinois, U.S.)
· Nevro Corp (California, U.S.)
· Nuvectra (Texas, U.S.)
· Stimwave LLC (Florida, U.S.)
· Other prominent players

*
*

*Have Any Query? Ask Our Experts: *https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/spinal-cord-stimulation-market-100313

*
*

*Table of Contents:*

· *Introduction*

· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions

· *Executive Summary*
· *Market Dynamics*

· Market Drivers
· Market Restraints
· Market Opportunities

· *Key Insights*

· Prevalence of Key Indications – For Key Countries/ Regions
· Regulatory Scenario – For Key Countries/ Regions
· Impact of COVID-19 on Global Spinal Cord Stimulation Market
· New Product Launches
· Key Industry Developments - Mergers, Acquisitions and Partnerships

· *Global Spinal Cord Stimulation Market Analysis, Insights and Forecast, 2016-2027 *

· *Key Findings / Summary*
· *Market Analysis, Insights and Forecast – By Product*

· Rechargeable
· Non-rechargeable

· *Market Analysis, Insights and Forecast – By Disease Indication*

· Failed Back Surgery Syndrome (FBSS)
· Degenerative Disc Disease (DDD)
· Complex Regional Pain Syndrome (CRPS)
· Arachnoiditis
· Others

· *Market Analysis, Insights and Forecast – By End User*

· Hospitals
· Ambulatory Surgery Centers
· Specialty Clinics

· *Market Analysis, Insights and Forecast – By Region*

· North America
· Europe
· Asia Pacific
· Rest of World

TOC Continued….!

*
*

*Get your Customized Research Report: *https://www.fortunebusinessinsights.com/enquiry/customization/spinal-cord-stimulation-market-100313

*
*

*SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:*

· Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
· Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
· Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
· Number of procedures and average price of procedures
· Replacement rate and pricing of capital equipment
· Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
· Market & technological trends, new product developments, product pipeline.

*
*

*Have a Look at Related Reports:*

Smart Contact Lenses Market Share & Industry Analysis, By Type (Continuous Intraocular Pressure Monitoring Lenses, Photochromic Lenses, and Others), By End User (Ophthalmology Clinics, Home Care, and Others), and Regional Forecast, 2019-2026

Veterinary Vaccine Adjuvants Market Share & Industry Analysis, By Type (Alum and Calcium Salts, Oil Emulsion Adjuvants, Liposomes, and Archaeosomes, Nanoparticles and Mi-croparticles, and Others), By Application (Research, and Commercial), By Route of Admin-istration (Oral, Subcutaneous, Intramuscular, and Others), By Animal Type (Livestock Animal, and Companion Animal) and Regional Forecast, 2020-2027

Lymphoma Treatment Market Share & Industry Analysis, By Therapy (Immunotherapy, Targeted Therapy, Chemotherapy, and Others), By Disease Type (Non-Hodgkin Lymphoma, and Hodgkin Lymphoma), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others), and Regional Forecast, 2019-2026

Neonatal Intensive Care Market Share & Industry Analysis, By Product (Neonatal Incubators, Neonatal Phototherapy Equipment, Neonatal Ventilators, Neonatal Monitors, and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027

Healthcare Asset Management Market Share & Industry Analysis, By Product (Radiofrequency Identification (RFID), Real-time Location Systems (RTLS), and Others), By Application (Staff Management, Equipment Tracking, Patient Tracking, and Supply Chain Management), By End User (Hospitals, Laboratories, and Others) and Regional Forecast, 2020-2027

*
*

*About Us:*

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

*
*

*Contact Us:*

Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

*Phone:*
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs

*
*

*Press Release: *https://www.fortunebusinessinsights.com/press-release/spinal-cord-stimulation-market-9101

Full Article