Neuromodulation 2016: Competition Heats Up In Spinal Cord Stim Market
In the $3.2 billion market for neuromodulation devices, competition is heating up in the spinal cord stimulation (SCS) segment as device manufacturers armed with new clinical trial data and next-generation technologies disrupt the status quo of standard tonic SCS systems and begin to expand the market, shift market share and boost the revenues of companies both large and small. Innovation is fueling healthy growth in this market, particularly in the US, where the market is projected to grow from around $1.13 billion in 2014 to almost $1.62 billion in 2019, a CAGR of 7.5%.
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The market for spinal cord stimulation (SCS) systems, used for treating chronic debilitating pain, is expanding relentlessly, and companies like Abbott Laboratories, Medtronic, Boston Scientific and Nevro are all vying to gain more market share with their respective technologies. At this year's annual meeting of the North American Neuromodulation Society (NANS) in Las Vegas, physicians were presented with the latest clinical evidence backing these innovations. This article looks at the overall SCS market, discusses study findings presented at NANS and the latest innovations. It also provides insights from two established pain management specialists on factors they think will drive SCS technologies forward.
In the global pain management market, spinal cord stimulation (SCS) systems are expected to continue to be the fastest-growing segment with increasing competition among device manufacturers to develop innovative, targeted therapies. In this second article of a two-part series, we'll discuss the competitive landscape in the SCS market, the key players, emerging companies and their respective technologies.
Many medtech companies reported their sales and earnings for all of 2016, along with projections for 2017, at the end of January or early February. Medtech Insight has examined their reports as well as the comments of the analysts who track these companies to highlight a few that had especially good years, some that had down years, and some lesser-known companies worth watching in the future.