The spinal cord stimulator is set to grow through 2027, according to a Market Research Reports Search Engine analysis.
Here are five observations:
1. SCS's cost-effectiveness, compared to conventional management, will bolster the market. As the U.S. shifts to accountable care organizations, this technology's cost-effectiveness will prove critical.
2. The dangers associated with opioid use will also spur SCS market growth as an alternative pain management option.
3. The report notes less than 10 percent of potential patients are using SCS technology.
4. The U.S. and Europe capture 85 percent of the global SCS market.
5. Rechargeable SCS have a better market potential than the non-rechargeable SCS segment. The rechargeable SCS will likely account for 70 percent of the global market by 2027, growing at a 7.2 percent compound annual growth rate by value.