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Technavio’s market research analyst predicts the global spinal cord stimulation (SCS) devices market to grow steadily at a CAGR of around 4% by 2020. Global exposure and availability of several innovative techniques for learning have prompted surgeons to increase their knowledge about SCS devices. Several pain management societies are spreading awareness about SCS devices through international conferences, annual meetings, seminars, and workshops. Hospitals are actively participating in promoting these devices by educating patients on the necessity of using these devices for better health. Moreover, the growing shift towards minimally invasive surgery (MIS) is another development triggering the use of SCS devices. These surgeries are less painful, reduce the operative traumatic stress, and help patients to recover faster. The use of MIS techniques to treat spine-related disorders is likely to increase in the coming years, propelling the use of SCS devices.
The Americas is the largest revenue-contributing region in the SCS devices market and is anticipated to occupy around 59% of the overall market revenue during the forecast period. Much of the region’s growth is likely to come from the high investments by top manufacturers to improve product compatibility and patient safety. Majority of the region’s revenue comes from the US due to technological advancements and the availability of reimbursement facilities in the country. With the growing preference for SCS devices by the surgeons' in MIS technique for chronic back pain management, the market will witness huge growth in the region during the forecast period.
A few vendors dominate this SCS devices market and account for around 90% of the total market share. These existing companies are making investments in several research activities to launch new devices. Several new entrants like Stimwave, Nevro, and Greatbatch expected to gain market shares during the forecast period by manufacturing devices at low prices and focusing on the miniaturization of devices.
DDD is a condition related to aging where the disks between vertebrae get affected by the loss of cushioning, fragmentation, and herniation leading to flexibility issues. Exercise, medication and physical therapy are commonly preferred options for pain relief. However, recently SCS devices have proved to be successful. SCS procedures are finding high success as the perception of pain is decreased by manipulating pain carrier centers in the brain and the spinal cord with the implanted electrical device.
According to the spinal cord stimulation devices market analysis, hospitals are the largest end-users of SCS devices and accounted for around 78% of the total market share during 2015. Hospitals are well-established healthcare units with better facilities and have an adequate budget to purchase medical devices. This provides the comfort in buying devices such as SCS in case of emergencies. Since SCS requires expertise and surgery setup, these procedures are preferred to be performed in hospitals. Moreover, the growing focus on delivering better treatment for chronic pain management has propelled the use of SCS devices, which help in speedy recovery with minimal pain.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by product
PART 08: Market segmentation by end-user
PART 09: Geographical segmentation
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Key vendor analysis
PART 17: Appendix
PART 18: Explore Technavio
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