The Global Spinal Cord Stimulation Market is expected to gain from increasing per capita income. Recently Fortune Business insights, published a report, titled “Spinal Cord Stimulation: Global Market Analysis, Insights and Forecast, 2019-2026,” which studies in detail various factors influencing the market’s growth trajectory.
According to the report, the global spinal cord stimulation market was worth US$ 2,268.9 Mn in 2018. The global market is anticipated to progress at a CAGR of 8.1% and value US$ 4,236.2 Mn by the end of 2026. The report offers a comprehensive overview on various segments of the global spinal cord stimulation market.
Some of the companies operating in the global spinal cord stimulation market are;
- Stimwave LLC
- Nevro Corp Nuvectra
- Boston Scientific Corporation
Sample PDF Brochure:
According to the report the worldwide spinal cord stimulation market incitement market was commanded by North America in 2018. The North America market was esteemed at US$ 1,086.7 Mn in 2018. The area is foreseen to stay prevailing through the estimate time frame. Ideal wellbeing repayment approaches accessible in the district is one of the key elements empowering development of the spinal cord stimulation market advertise in North America.
Trailing North America, Europe has emerged as the second-leading region in the global market during the forecast period. Rapid technological advancements in the spinal cord stimulation systems is a primary factor expected to fuel the demand for spinal cord stimulation in Europe. Besides this, Asia Pacific is anticipated to report highest CAGR during forecast period. The market in the region is driven by the high demand and rapid adoption of spinal cord stimulation in the region. This is likely to enable growth in the global spinal cord stimulation market.
In terms of disease indication, The Failed Back Syndrome segment is estimated to emerge dominant in the global spinal cord stimulation market during the forecast period. The global prevalence of the Failed Back Syndrome is increasing further generating demand for the development of new and effective therapy to treat chronic back pain.
Government bodies across the world have introduced several policies encouraging expansion of the healthcare infrastructure. These are facilitating the smooth development of new spinal cord stimulation therapy as well. This is likely to increase the growth rate of the global market.
Innovation in Spinal Cord Stimulation Therapy to Drive Market
In the near future, the Global Spinal Cord Stimulation Market will gain significant impetus from the introduction of MRI conditional spinal cord stimulator. Besides this, reduction in the consumption of opioid medication is fueling the demand for spinal cord stimulation therapy.
Exposure to radiations and side effects associated with spinal cord stimulation therapy are a few factors that may restrain the global spinal cord stimulation market during the forecast period.
Abbot and Boston to Lead the Global Market
Abbott and Boston Scientific Corporation hold a significant share and are together leading the global spinal cord stimulation market. These companies are projected to lead the global market during the forecast period also. The growth witnessed is attributable to successful completion of acquisition of St. Jude Medical Inc. by Abbott.
Product launch by Boston Scientific Corporation is also contributing towards the growth. St. Jude Medical Inc., was acquired by Abbot in 2017, which further gave Abbot access to St. Jude Medical’s product portfolio and market share. Strategic collaborations are intended at expanding footprint and product portfolio. Such expansion strategies are expected to bode well for the overall market.
Browse Complete Report:
TABLE OF CONTENT:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
3.4 Market Trends
4. Key Insights
4.1 Prevalence of Back Pain – For Key Countries, 2018
4.2 Regulatory Scenario – For Key Countries
4.3 Health Reimbursement Overview
4.4 New Product Launch
4.5 Key Industry Developments -Mergers, Acquisitions and Partnerships
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 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.
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune – 411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: [email protected]
View Related Reports:
Business Jet Market to Reach USD 36.21 Billion by 2026 | Fortune Business Insights
Infant Formula Market Size to Reach USD 103.75 Billion by 2026 | Fortune Business Insights
Japanese Sake Market Size, Share, Top 10 Players Revenue and Future Outlook 2026
Bubble Tea Market Will Rise at a CAGR of 8.09%; Rising Demand for Beverages Will Enable Growth, says Fortune Business Insights