Product ID: SQMIG35A2711
Global Spinal Cord Stimulation Market Size, Share, Growth Analysis, By Technology Type(Rechargeable, Non-Rechargeable), By Application(Failed back surgery syndrome, Complex Regional Pain Syndrome) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2711 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|
Tables:
65 |
Figures:
74
Global Spinal Cord Stimulation Market Dynamics
Spinal Cord Stimulation Market Drivers
Continuous technological advancements and government guidelines to favor the market growth.
- The makers have intensified their research efforts in an effort to make spinal cord stimulators smaller. For instance, the Stimwave LCC-produced Freedom SCS system is roughly 5% smaller than the existing Implantable Pulse Generators (IPG) on the market. The rise of the spinal cord stimulation market is being driven by this as well as improvements in impulse production.
- One of the main drivers of market expansion is the development of recommendations for spinal cord stimulation therapy. Guidelines for this therapy's use in the treatment of chronic pain and other disease indications are being developed by a number of government associations. For instance, the Senza SCS system, which administers HF10 therapy to treat patients with neuropathic pain, was the subject of guidelines and recommendations released by the National Institute for Health and Care Excellence. Such encouraging proposals from governmental organizations are likely to increase market activity.
Spinal Cord Stimulation Market Restraints
The high costs of treatment and uneven distribution of medical service are hindering the market growth
- The spinal cord stimulator implantations typically cost between US$ 21,000 and US$ 58,000. Whether the patient has private health insurance, public health insurance, or is footing the bill out of pocket also affects the cost of the surgery. In addition to this, the patient must cover yearly maintenance expenses such as hardware costs, healthcare workers' salaries, pulse generator replacement costs, hospitalization charges, etc. This is expected to most likely hinder the growth of the market.
- Lack of availability of healthcare equipment at remote locations is expected to create a dearth of treatment options for local population. This is create dependency of local tribes to rely on bigger towns to avail the relevant medical treatment.
Global Spinal Cord Stimulation Market Report Snapshots
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