Neuromodulation is Stimulating Double-Digit Growth – iData Research
Industry: Healthcare
The increasing geriatric population and health risks associated with old age will drive spinal cord stimulation procedures to reach nearly 145,000 globally by 2026
Vanccouver, BC (PRUnderground) December 9th, 2019
According to the World Health Organization (WHO), between 250,000-500,000 suffer from a spinal cord injury (SCI) every year. Those who suffer from this pain can expect to experience chronic pains. Neuromodulation devices like spinal cord stimulators (SCS) have been created to address such issues. These devices deliver electrical pulses to the spinal cord to relieve chronic pain. SCS is also often used as treatment for failed back surgery syndrome, complex regional pain syndrome, neuropathic pain and ischemia-related refractory pain.
iData Research’s latest studies have discovered that the technology for spinal cord stimulation is rapidly advancing. Innovations like high-frequency stimulation, burst stimulation and more targeted stimulation are entering the market. Improvements in efficacy, efficiency, shrinking device sizes, decreasing device weight and programming options is vastly improving patient care.
“Despite the fact that SCS devices were the first type of neuromodulation devices to gain approval, the market is still not saturated; less than a hundred thousand SCS devices are sold annually in the Unites States, while 16 million Americans continue to experience chronic back pain,” says Kamran Zamanian, CEO of iData Research. “This low penetration indicates that the market has growth potential, allowing the number of units sold to continue growing into 2026. SCS manufacturers will continue to partner with national pain advocacy groups and engage in public relations functions to support patient education and awareness.”
Top Competitors in The Neurology Market
Medtronic is the leading competitor in the market for neurological devices. They hold a leading position in multiple segments of the neuromodulation device market. This includes the deep brain stimulation and SCS market. The company’s Intellis Platform has a primary cell battery life that rivals the lifetime of current rechargeable systems.
Other competitors in the Neurological device market Boston Scientific, Abbott, LivaNova, Stryker, Nevor, Penumbra, Integra LifeSciences, MicroVention, and Cerenvous.
For Further Market Information
More insights like this on the global market (19 Countries) can be found in a 2,271 page series of studies published by iData Research entitled the Neurological Device Market Analysis, Size, Trends | Global | 2019-2025 | MedSuite
About iData Research
iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries. Our research studies provide our clients profit access, which empowers their strategic decisions through actionable data.
