Pune, India -- (SBWIRE) -- 11/15/2018 -- The Spinal Cord Stimulation Market was worth USD 1976.23 Million in 2017 and is projected to reach around USD 3247.06 Million by 2024. The Spinal Cord Stimulation Market is estimated to grow at a CAGR of 7.5% during the forecast period 2018-2024. The North America region accounted for the largest market share of approximate 78% in 2017 and is expected to remain dominant through the forecast period. The Asia-Pacific region is expected to grow at highest CAGR of 7.9% during the forecast period.

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The spinal cord stimulation is a neuro stimulation therapy used to treat the certain pain condition like chronic pain by blocking the pain signals before they reach to the brain with the help of spinal cord stimulators. A spinal cord stimulator devices implanted under the patients skin, sends the electric signals to the specific areas of spinal cords to treat the pain. When the device is turned on, it modify the pain signal before it reaching to the brain. A spinal cord stimulator device contain small wire that carries the current (or electrical signals) and transmit it towards the nerve fibers of the spinal cord.

According to WHO, around the world, between 250,000 and 500,000 people suffer from spinal cord injury (SCI) every year .The rising incidence of spinal cord injuries, neurological disorder and the chronic back pain are the sizable factors that drives the growth of spinal cord stimulation market. In addition, growing geriatric population, and rising demand for minimally invasive surgeries also contributes towards the growth of spinal cord stimulation market. However, the high treatment cost and government regulations are hampering the market growth. Moreover, ongoing research and development in the spinal cord stimulation is expected to improve the market profitability and able to serve more opportunities in upcoming years.

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Geographically, North America accounted for the highest share in the spinal cord stimulation market. In North America region the prevalence of chronic back pain is more that creates the demand of spinal cord stimulation among the population. According to the National Institute of Neurological Disorder and Stoke, about 80 percent of adults experience low back pain at any given time. In The U.S. 31 million people in the U.S. experience lower back pain says American Chiropractic Association. The Asia-pacific is expected to grow at the highest CAGR owing to rising demand of minimal intensive surgeries, improving healthcare infrastructure and healthcare expenditure.