Spinal Cord Stimulators Market SWOT and PEST Analysis 2031
The Spinal Cord Stimulators Market is expected to register a CAGR of 7.5% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Non-Rechargeable, Rechargeable) Application (Degenerative Disk Disease (DDD), Failed Back Syndrome (FBS), Unsuccessful Disk Surgery, Multiple Back Operations, Lumbar Adhesive Arachnoiditis and Complex Regional Pain Syndrome (CRPS)) End Users (Hospitals, Ambulatory Surgery Centers, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Spinal Cord Stimulators Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Spinal Cord Stimulators Market Segmentation
Product- Non-Rechargeable
- Rechargeable
- Degenerative Disk Disease
- Hospitals
- Ambulatory Surgery Centers
- Others
Strategic Insights
Spinal Cord Stimulators Market Growth Drivers- Increasing Prevalence of Chronic Pain:
There is a continuously increasing patient population that experiences chronic and neuropathic pain conditions. This patient population is one of the main reasons driving the rise in the use of spinal cord stimulators, as these devices help alleviate pain by placing low levels of electricity in the spinal cord and preventing pain signals from back to the brain. Along with the tendency of an increase in the number of chronic pain conditions, the number of patients looking for radius pain relief tools also increases. In light of the emerging conditions, the stimulation of spinal cords is very much in demand, given that these devices seem to be effective in controlling chronic pain, where almost all other treatments have failed. - Technological Advancements:
There have been developments in spinal cord stimulation technology, especially in impulse generators, which makes the devices more effective and exciting. The launch of rechargeable stimulators is also gaining momentum, and this market segment may be the cause of changes in optimistic growth rates for this historical region. Developments in the technology of spinal cord stimulation have resulted in improved functionality of these devices. In this case, improvements in the designs and leads of stimulators have made it possible to deliver more targeted and tailored stimulation patterns to each patient as per their requirements. This customization enhances patient outcomes and satisfaction levels, which in turn promotes acceptance of SCS as a treatment option even more. - New Product Launches:
The most prominent players in the medical device industry are constantly developing and introducing new versions of spinal cord stimulators. These innovations enhance patient care and promote the growth of the market by encouraging more and more healthcare providers to embrace the technologies. The development of next-generation spinal cord stimulator systems, particularly that of Medtronic Inceptiv's closed loop system, represents the beginning of a new era of spinal cord stimulation technology. This is due to the fact that these systems can optimize pain management by changing stimulation based on feedback obtained from the patient's own body. Such innovations increase the efficiency of SCS therapies significantly, making them desirable for both patients and healthcare providers.
- Increased Acceptance and Awareness:
People in the healthcare system, as well as patients, are beginning to appreciate the role of spinal cord stimulation. The gradual acceptance of spinal cord stimulation as a suitable treatment option for chronic pain, especially in patients unresponsive to conventional methods, is being supported by educational campaigns and clinical evidence about the effectiveness of SCS. As various healthcare providers become more aware of the effects and advantages of spinal cord stimulation, there is a corresponding enhancement of the recommendation of the use of such devices to consumers. This recognition is accompanied by increased training and education on SCS technologies in medical curricula and courses for practicing specialists. Such outlook among providers results in better SCS therapy referrals, which subsequently boosts the market. - Diverse Applications:
The use of spinal cord stimulators is undergoing a paradigm shift as they are being used for other purposes besides the relief of neuropathic pain. Conditions such as failed back surgery syndrome and complex regional pain syndrome are increasingly being treated using spinal cord stimulators. This shift is increasing the possible number of patients and, consequently, the growth of the market. In the past, spinal cord stimulators were only used as a form of reflex therapy for patients suffering from neuropathic pain. However, the range of such patients has increased to include those suffering from conditions such as failed back surgery syndrome, complex regional pain syndrome, and even ischemic pain. This broadening of treatment indications allows SCS devices to cater to a broader patient demographic, thus increasing the market's supply potential in relation to these devices. The trend of diverse applications for spinal cord stimulators is a crucial driver of market growth, expanding treatment options, increasing the patient population, and fostering innovation. In the wake of market growth, more capabilities to include a host of pain conditions will most likely augment the place of spinal cord stimulators in pain management. This scenario is beneficial for patients and healthcare providers. - Patient-Centric Approaches:
The SCS market clearly demonstrates a transition towards a patient-centered approach. The manufacturers are more interested in making devices that not only relieve pain effectively but also help improve the overall experience of the patient. For example, they include easy-to-operate interfaces and ways of monitoring the patients remotely. The trend toward patient-focused processes draws Attention to the way treatment plans are created for patients. Spinal cord stimulators are ever more often being used as a component of individualized care where pain management treatments are adjusted to the patient's particular pain and preferences in regard to the stimulation settings they are provided with. This personalization improves patient satisfaction and compliance with the treatment, which in turn increases the demand for SCS devices.
- Collaborations and Partnerships:
Synergetic gatherings of device manufacturers, healthcare service suppliers, and research and development institutions present myriad chances for novel and efficient solutions in healthcare systems. Such collaborations will ease the conduct of clinical research, the development of products, and the market for the products. Where companies have entered into strategic alliances, this has also enabled the companies to enter into new regional markets. However, by forming strategic partnerships with local partners such as healthcare service providers, manufacturers can more efficiently deal with legal issues as well as the promotional aspects of selling their products in that region. This is notably significant in developing nations where there is a rising need for effective strategies for managing advanced pain. - Regulatory Support and Reimbursement Policies:
As an increasing number of people embrace spinal cord stimulators as a more effective treatment, these devices are likely to receive more backing and fast-tracking for approval processes from the agencies responsible. Also, optimistic practices from insurance providers on reimbursement can help patients gain access to the devices, and therefore, that is another factor that will increase the market size. Markets for spinal cord stimulators (SCSs) are affected by policies on regulatory support and reimbursement because they create room for manufacturers and providers to operate. These policies make it clear that spinal cord stimulators will be adopted as suitable ways of treating chronic pain management, which in turn promotes their usage and growth of the market. - Increased Acceptance in Pain Management Protocols:
Global Attention to the opioid crisis has prompted many healthcare professionals to look for alternative pain relief solutions. Spinal cord stimulators are emerging as a reasonable alternative for patients who fail standard treatment methods. This tectonics in treatment approaches is expected to have a positive impact on the growth of the market for SCS devices.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Spinal Cord Stimulators Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Spinal Cord Stimulators Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
Boston Scientific Corp, Abbott Laboratories, Medtronic Plc, Nevro Cor, accounting for higesh market shares and are some of the major players operating in the market
The Rechargeable segment accounts for highest revenue in product the Spinal Cord Stimulators Market in 2023
Asia Pacific region dominated the Spinal Cord Stimulators Market in 2023
North America region dominated the Spinal Cord Stimulators Market in 2023
The Spinal Cord Stimulators Market is estimated to witness a CAGR of 7.5% from 2023 to 2031
The major factors driving the Spinal Cord Stimulators Market are:
1.Increasing Prevalence of Chronic Pain
2. Technological Advancements
3. New Product Launches
1. INTRODUCTION
1.1. SCOPE OF STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
2. KEY TAKEAWAYS
3. SPINAL CORD STIMULATORS MARKET LANDSCAPE
3.1. MARKET OVERVIEW
3.2. MARKET SEGMENTATION
3.2.1. Spinal Cord Stimulators Market - By Product
3.2.2. Spinal Cord Stimulators Market - By Application
3.2.3. Spinal Cord Stimulators Market - By End User
3.2.4. Spinal Cord Stimulators Market - By Region
3.2.4.1. By Country
3.3. PEST ANALYSIS
3.3.1. North America - PEST Analysis
3.3.2. Europe - PEST Analysis
3.3.3. Asia Pacific - PEST Analysis
3.3.4. Middle East and Africa - PEST Analysis
3.3.5. South and Central America- PEST Analysis
4. SPINAL CORD STIMULATORS MARKET - KEY INDUSTRY DYNAMICS
4.1. KEY MARKET DRIVERS
4.2. KEY MARKET RESTRAINTS
4.3. KEY MARKET OPPORTUNITIES
4.4. FUTURE TRENDS
4.5. IMPACT ANALYSIS
5. SPINAL CORD STIMULATORS MARKET - GLOBAL ANALYSIS
5.1. GLOBAL SPINAL CORD STIMULATORS MARKET OVERVIEW
5.2. GLOBAL SPINAL CORD STIMULATORS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
5.3. MARKET POSITIONING/MARKET SHARE
5.4. PERFORMANCE OF KEY PLAYERS
5.5. EXPERT OPINIONS
6. SPINAL CORD STIMULATORS MARKET- GLOBAL REGULATORY SCENARIO
6.1. OVERVIEW
6.2. NORTH AMERICA
6.3. EUROPE
6.4. ASIA PACIFIC
6.5. MIDDLE EAST & AFRICA
6.6. SOUTH AND CENTRAL AMERICA
7. SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - BY PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
7.3. NON-RECHARGEABLE MARKET
7.3.1. Overview
7.3.2. Non-Rechargeable Market Revenue Forecasts and Analysis (US$ Mn)
7.4. RECHARGEABLE MARKET
7.4.1. Overview
7.4.2. Rechargeable Market Revenue Forecasts and Analysis (US$ Mn)
8. SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - BY APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
8.3. DEGENERATIVE DISK DISEASE (DDD) MARKET
8.3.1. Overview
8.3.2. Degenerative Disk Disease (DDD) Market Revenue Forecasts and Analysis (US$ Mn)
8.4. FAILED BACK SYNDROME (FBS) MARKET
8.4.1. Overview
8.4.2. Failed Back Syndrome (FBS) Market Revenue Forecasts and Analysis (US$ Mn)
8.5. UNSUCCESSFUL DISK SURGERY MARKET
8.5.1. Overview
8.5.2. Unsuccessful Disk Surgery Market Revenue Forecasts and Analysis (US$ Mn)
8.6. COMPLEX REGIONAL PAIN SYNDROME (CRPS) MARKET
8.6.1. Overview
8.6.2. Complex Regional Pain Syndrome (CRPS) Market Revenue Forecasts and Analysis (US$ Mn)
8.7. MULTIPLE BACK OPERATIONS MARKET
8.7.1. Overview
8.7.2. Multiple Back Operations Market Revenue Forecasts and Analysis (US$ Mn)
8.8. LUMBAR ADHESIVE ARACHNOIDITIS MARKET
8.8.1. Overview
8.8.2. Lumbar adhesive Arachnoiditis Market Revenue Forecasts and Analysis (US$ Mn)
9. SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 -BY END USER
9.1. OVERVIEW
9.2. END USER MARKET REVENUE AND FORECASTS ANALYSIS (US$ MN)
9.3. HOSPITALS MARKET
9.3.1. Overview
9.3.2. Hospitals Market Revenue Forecasts and Analysis (US$ Mn)
9.4. AMBULATORY SURGICAL CENTERS MARKET
9.4.1. Overview
9.4.2. Ambulatory Surgical Centers Market Revenue Forecasts and Analysis (US$ Mn)
9.5. OTHERS MARKET
9.5.1. Overview
9.5.2. Others Market Revenue Forecasts and Analysis (US$ Mn)
10. NORTH AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
10.1. NORTH AMERICA SPINAL CORD STIMULATORS MARKET OVERVIEW
10.2. NORTH AMERICA SPINAL CORD STIMULATORS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
10.3. NORTH AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY PRODUCT (US$ MN)
10.4. NORTH AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY APPLICATION (US$ MN)
10.5. NORTH AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY END USER (US$ MN)
10.6. NORTH AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
10.7. US MARKET OVERVIEW
10.7.1. US Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
10.7.2. US Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
10.7.3. US Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
10.8. CANADA MARKET OVERVIEW
10.8.1. Canada Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
10.8.2. Canada Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
10.8.3. Canada Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
10.9. MEXICO MARKET OVERVIEW
10.9.1. Mexico Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
10.9.2. Mexico Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
10.9.3. Mexico Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
11. EUROPE SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
11.1. EUROPE SPINAL CORD STIMULATORS MARKET OVERVIEW
11.2. EUROPE SPINAL CORD STIMULATORS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
11.3. EUROPE SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY PRODUCT (US$ MN)
11.4. EUROPE SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY APPLICATION (US$ MN)
11.5. EUROPE SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY END USER (US$ MN)
11.6. EUROPE SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
11.7. FRANCE MARKET OVERVIEW
11.7.1. France Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
11.7.2. France Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
11.7.3. France Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
11.8. GERMANY MARKET OVERVIEW
11.8.1. Germany Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
11.8.2. Germany Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
11.8.3. Germany Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
11.9. UK MARKET OVERVIEW
11.9.1. UK Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
11.9.2. UK Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
11.9.3. UK Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
12. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
12.1. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET OVERVIEW
12.2. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
12.3. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY PRODUCT (US$ MN)
12.4. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY APPLICATION (US$ MN)
12.5. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY END USER (US$ MN)
12.6. ASIA PACIFIC SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
12.7. CHINA MARKET OVERVIEW
12.7.1. China Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
12.7.2. China Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
12.7.3. China Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
12.8. INDIA MARKET OVERVIEW
12.8.1. India Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
12.8.2. India Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
12.8.3. India Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
12.9. JAPAN MARKET OVERVIEW
12.9.1. Japan Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
12.9.2. Japan Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
12.9.3. Japan Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
13. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
13.1. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET OVERVIEW
13.2. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
13.3. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY PRODUCT (US$ MN)
13.4. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY APPLICATION (US$ MN)
13.5. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY END USER (US$ MN)
13.6. MIDDLE EAST AND AFRICA (MEA) SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
13.7. SOUTH AFRICA MARKET OVERVIEW
13.7.1. South Africa Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
13.7.2. South Africa Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
13.7.3. South Africa Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
13.8. SAUDI ARABIA MARKET OVERVIEW
13.8.1. Saudi Arabia Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
13.8.2. Saudi Arabia Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
13.8.3. Saudi Arabia Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
13.9. UAE MARKET OVERVIEW
13.9.1. UAE Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
13.9.2. UAE Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
13.9.3. UAE Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
14. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS TO 2028 - COUNTRY ANALYSIS
14.1. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET OVERVIEW
14.2. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET REVENUE FORECASTS AND ANALYSIS (US$ MN)
14.3. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY PRODUCT (US$ MN)
14.4. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY APPLICATION (US$ MN)
14.5. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY END USER (US$ MN)
14.6. SOUTH AND CENTRAL AMERICA SPINAL CORD STIMULATORS MARKET REVENUE AND FORECASTS ANALYSIS - BY COUNTRY (US$ MN)
14.7. BRAZIL MARKET OVERVIEW
14.7.1. Brazil Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Product (US$ Mn)
14.7.2. Brazil Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By Application (US$ Mn)
14.7.3. Brazil Spinal Cord Stimulators Market Revenue Forecasts and Analysis - By End User (US$ Mn)
15. INDUSTRY LANDSCAPE
15.1. ORGANIC GROWTH STRATEGIES
15.1.1. New Product Launches
15.1.2. Marketing & Promotional Activities
15.2. INORGANIC GROWTH STRATEGIES
15.2.1. Partnerships, Collaborations, and Joint Ventures
15.2.2. Mergers & Acquisitions
16. SPINAL CORD STIMULATORS MARKET, KEY COMPANY PROFILES
16.1. BOSTON SCIENTIFIC CORPORATION
16.1.1. Key Facts
16.1.2. Business Description
16.1.3. Financial Overview
16.1.4. Product Portfolio
16.1.5. Product Pipeline
16.1.6. SWOT Analysis
16.1.7. Key Developments
16.2. ABBOTT
16.2.1. Key Facts
16.2.2. Business Description
16.2.3. Financial Overview
16.2.4. Product Portfolio
16.2.5. Product Pipeline
16.2.6. SWOT Analysis
16.2.7. Key Developments
16.3. MEDTRONIC
16.3.1. Key Facts
16.3.2. Business Description
16.3.3. Financial Overview
16.3.4. Product Portfolio
16.3.5. Product Pipeline
16.3.6. SWOT Analysis
16.3.7. Key Developments
16.4. NEVRO CORP.
16.4.1. Key Facts
16.4.2. Business Description
16.4.3. Financial Overview
16.4.4. Product Portfolio
16.4.5. Product Pipeline
16.4.6. SWOT Analysis
16.4.7. Key Developments
16.5. NEUROS MEDICAL
16.5.1. Key Facts
16.5.2. Business Description
16.5.3. Financial Overview
16.5.4. Product Portfolio
16.5.5. Product Pipeline
16.5.6. SWOT Analysis
16.5.7. Key Developments
16.6. STIMWAVE LLC
16.6.1. Key Facts
16.6.2. Business Description
16.6.3. Financial Overview
16.6.4. Product Portfolio
16.6.5. Product Pipeline
16.6.6. SWOT Analysis
16.6.7. Key Developments
16.7. NUVECTRA CORPORATION
16.7.1. Key Facts
16.7.2. Business Description
16.7.3. Financial Overview
16.7.4. Product Portfolio
16.7.5. Product Pipeline
16.7.6. SWOT Analysis
16.7.7. Key Developments
16.8. SALUDA MEDICAL PVT LTD
16.8.1. Key Facts
16.8.2. Business Description
16.8.3. Financial Overview
16.8.4. Product Portfolio
16.8.5. Product Pipeline
16.8.6. SWOT Analysis
16.8.7. Key Developments
16.9. SYNAPSE BIOMEDICAL INC
16.9.1. Key Facts
16.9.2. Business Description
16.9.3. Financial Overview
16.9.4. Product Portfolio
16.9.5. Product Pipeline
16.9.6. SWOT Analysis
16.9.7. Key Developments
16.10. NEROSIGMA
16.10.1. Key Facts
16.10.2. Business Description
16.10.3. Financial Overview
16.10.4. Product Portfolio
16.10.5. Product Pipeline
16.10.6. SWOT Analysis
16.10.7. Key Developments
17. APPENDIX
17.1. ABOUT THE INSIGHT PARTNERS
17.2. GLOSSARY OF TERMS
17.3. RESEARCH METHODOLOGY
1. Boston Scientific Corporation,
2. Abbott,
3. Medtronic
4. Nevro Corporation,
5. Synapse Biomedical Inc,
6. NeuroSigma,
7. Stimwave LLC,
8. Neuros Medical,
9. Nuvectra Corporation,
10. Saluda Medical Pvt ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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