Overview Despite the severe impact of the COVID-19 pandemic on elective surgeries, global sales of neuromodulation systems for the treatment of chronic, intractable pain—which include innovative implantable spinal cord stimulation (SCS) devices and associated products—is expected to increase at a healthy CAGR of approximately 8.
New York, Sept. 03, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neuromodulation: Spinal Cord Stimulation Devices Market" - https://www.reportlinker.com/p05955586/?utm_source=GNW
6%, from nearly $3bn in 2019 to an estimated $4.5bn in 2024.
A healthy rebound is expected to occur in SCS beginning in 2021 based on an expected successful vaccine and/or treatments, and a resurgence of procedures deferred in 2020 due to pent-up demand from an aging population suffering from chronic, debilitating pain in need of safer and more effective therapy alternatives to potentially dangerous and addictive opioids. There is strong demand for SCS from a growing number of intractable pain patients who have failed back/spine surgery, are not eligible for/cannot afford spine surgery, and have failed conventional treatment options.
SCS is the largest neuromodulation device market, and SCS technology is supported by a long clinical history, demonstrating a substantial reduction in excruciating pain (50% or higher reduction) in most patients. Next-generation systems aim to improve pain relief even further by offering more precise targeting, superior pain coverage, multiple and customized waveforms, proprietary algorithms/software and apps, and other innovations.
Key competitors in the SCS market include: Medtronic, Boston Scientific, Abbott, and Nevro. While major medical device companies dominate this highly competitive market, a handful of startups have attempted to enter the space, and successful companies (eg Saluda Medical) are partnering with key players to advance proprietary advanced technologies.
This comprehensive medical market and technology report provides:
overview of chronic pain
SCS technologies, key product, and features
emerging technologies/pipelines and innovations
in-depth market and competitive analyses, including market drivers/limiters, 5-year market forecasts by segment and region, and global/regional market share
overview of companies, financials, and strategic growth plans
Markets covered by this analysis include the US, Japan, the five major European markets (France, Germany, Italy, Spain, and the UK), and the Rest of World (RoW) markets, which includes all other countries. Market forecasts are for the 2019-24 time period.
Read the full report: https://www.reportlinker.com/p05955586/?utm_source=GNW
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