London, Feb. 27, 2023 (GLOBE NEWSWIRE) -- The mounting rate of chronic disease and pain prevalence, an expanding geriatric patient pool, and surging preference for non-invasive procedures are expected to primarily drive revenue to spinal cord stimulators market. “Government support in form of assistance to elderly as well as underprivileged patient population that seeks affordable care will act as the strongest growth driver for the market expansion,” says the analyst at Fairfield Market Research. A new study of the company intends to closely examine the market to uncover the valued insights into how the growth will unfold over the near term. The report would highlight key growth influencers, trends, potential opportunities associated with the market in addition to the detailed competitive analysis. The exorbitant installation costs, yearly maintenance spending, and others like pulse generator replacement costs will however remain the key impediments to market growth in long run.
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Insights into Segmental Analysis
On the back superior adaptability, affordability, and pain regulating ability, rechargeable devices will most likely remain the top-sought category of spinal cord stimulators. These devices possess the capability to control pain through a wireless remote procedure, which serves as the winning imperative for this segment of the market. With a growing number of chronic as well as neuropathic patients worldwide, demand for rechargeable stimulator devices will remain on an uptrend. The report also intends to thoroughly examine the various application areas of stimulators, which primarily reveals dominance of complex regional pain syndrome (CRPS). The segment will most likely continue to lead its way majorly banking on advent of technology, and new launches on the market.
Insights into Regional Analysis
North America’s lead in global spinal cord stimulators market will most likely remain intact in long run. The region continues to witness an alarming rate of increase in prevalence of chronic pain, CRPS, as well as the failing back syndrome, which majorly underpins the primacy of North America over the other regional markets. In addition to higher healthcare spending and sophisticated infrastructure, the market here will continue to benefit from greater awareness about the availability of spinal cord stimulation therapy.
On the other hand, preliminary research findings indicate impressive growth projections for Asia Pacific’s spinal cord stimulator market. While the market here is expected to gain significantly from the constantly expanding elderly patient population, brisk rise in number of patients preferring neuromodulation therapy will also catalyse the growth of key Asian markets. Notably rising prevalence of chronic back pain cases, and patient inclination toward minimally invasive procedures will collectively establish a strong breeding ground for the spinal cord stimulators market, across Asia Pacific.
Key Companies in Spinal Cord Stimulators Market
Boston Scientific Corp, Abbott Laboratories, Medtronic Public Limited Company, Nevro Corp, Nuvectra Corporation, Stimwave LLC, St Jude Medical LLC, Neurosigma Inc., Synapse Biomedical Inc., Cirtec Medical Corporation, Bluewind Medical, Beijing PINS Medical Co., Ltd, Gimer Medical, Bioinduction, Saluda Medical Pty Ltd., Greatbatch, Inc.
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Spinal Cord Stimulators Market is Segmented as Below:
By Products
- Rechargeable
- Non-Rechargeable
By Application
- Failed Back Surgery Syndrome
- Complex Regional Pain Syndrome
- Ischemic Limb pain
- Others
By End User
- Hospitals
- Ambulatory Surgical Centers
- Clinics
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
Key Elements Included In The Study: Global Spinal Cord Stimulators Market
- Spinal Cord Stimulators Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2018 - 2021
- Market Value at Regional and Country Level, 2022 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
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