Increasing prevalence of chronic diseases, rising geriatric population, growing number of unmet medical needs, increasing evidences of neurological diseases, rising demand for minimally invasive surgeries are key factors contributing to high CAGR of Neurostimulation Devices during forecast period.
Market Size – USD 4.98 Billion in 2018, Market Growth - CAGR of 12.4%, Market Trends – Product launches and research for advanced Neurostimulation Devices
According to the current analysis of Reports and Data, the global Neurostimulation Devices market was valued at USD 4.98 Billion in 2018 and is expected to reach USD 12.7 Billion by the year 2026, at a CAGR of 12.4 %. Neurostimulation Devices - Neurostimulator or Neurostimulation are equipment that is used for neuromodulation. The process of making use of an implantable medical device to alter and modulate neural activities for therapeutic purposes is called neuromodulation. The recent emergence of Neurostimulation Devices as a neural activity modulator is a major disruptive finding in the healthcare sector. In line with this, market leaders, as well as emerging players, are developing mechanisms that can be used for neural activities modulation. For instance, Medtronic plc US-based medical device company launched EnterraII gastric neurostimulator, a programmable device that generates mild electrical pulses for gastric electrical stimulation to treat chronic, intractable nausea and vomiting due to gastroparesis.
Rising prevalence of chronic diseases and lifestyle health disorders, unmet needs of patients are pushing the technological development, significant focus of healthcare companies on development of novel mechanisms, upcoming patent expiry, availability of private as well public funds for research, and affirmative regulatory scenario all over the globe, are some of the notable factors boosting market growth in the industry. According to the American Academy of Neurology, stroke is listed as the third leading cause of death in U.S., with Alzheimer’s being ranked as the sixth leading cause of death. Statistics from the same source indicate that Parkinson’s affects nearly 1 million Americans annually with at least a minimum of 60,000 new cases that are reported annually. However, associated adverse effects and availability of advanced alternative options are the major hindrances for Neurostimulation devices market growth during 2019-2026.
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The report provides a complete analysis of the global Neurostimulation Devices market with important details about the key market players from insightful primary and secondary research data. The report also aims to benefit the user by providing constructive data to gain insight into the market growth, size, and investment approaches.
The key companies profiled in the market are:
Medtronic PLC, BioControl Medical, St. Jude Medical, Spinal Modulation, Boston Scientific Corp., Synapse Biomedical Inc., Cochlear, Cyberonics, Inc., and Nevro Corp.
Further key findings from the report suggest
- Neurostimulation Devices market is growing at a CAGR of 13.6% in the Asia Pacific, followed by North America and Europe, with 12.3 % and 12.1% CAGR, respectively. Rising chronic disease prevalence across the globe is the prominent factor to accelerate the Neurostimulation Devices market growth during forecast period across all regions
- As of 2018, Spinal Cord Stimulators is the dominating Neurostimulation Devices, which holds 35.5% of the global market. European regional market is the chief revenue-generating source for this product segment, followed by North America, Asia-Pacific, and other regions
- Sacral Nerve Stimulators is expected to be the fastest-growing market segment during the forecast period 2019-2026, with a CAGR of 13.2%. However, associated stringent government regulation is a major challenge for the Neurostimulation Devices market growth of this market segment
- Pain Management application type segment was valued at USD 2.03 billion in 2018 and is expected to reach USD 5.3 billion by 2026
- The Asia Pacific is expected to account for 19.4% of the global Neurostimulation Devices market. Developing nations such as China and India are likely to observe high growth
- Associated adverse effects related to Neurostimulation Devices and Availability of external substitutes is expected to hinder the market growth during the forecast period
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026.
Product Type (Revenue, USD Million; 2016–2026)
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Gastric Electric Stimulators
Application Type (Revenue, USD Million; 2016–2026)
- Pain Management
- Epilepsy
- Essential Tremor
- Urinary and Fecal Incontinence
- Depression
- Dystonia
- Gastroparesis
- Parkinson's Disease
- Others
Type (Revenue, USD Million; 2016–2026)
- Implantable
- External
End Use (Revenue, USD Million; 2016–2026)
- Hospitals/Clinics
- Cognitive Care Centers
- Research Institutes
- Others
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The report further segments the market on the basis of key regions of the world and offers an assessment of the production and manufacturing capacity, import and export, production and consumption patterns, supply and demand ratio, and the presence of key players in each region. The Neurostimulation Devices market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
In-depth regional analysis covers:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- A.E.
- Rest of MEA
The report includes primary and subjective research with a comprehensive study examined and validated by industry professionals and experts. The report further provides insights into the opportunities and threats that the industry may witness in the upcoming years, throughout the forecast period. The report also provides an insight into the growth in revenue along with CAGR throughout the forecast period. It also provides insights into lucrative opportunities to enable the businesses to capitalize on the emerging trends of the market.
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Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Neurostimulation Devices market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
- Global Growth Trends
2.1 Global Neurostimulation Devices market size
2.2 Latest Neurostimulation Devices market trends
2.3 Key growth trends
- Competitive Landscape
3.1 Global Neurostimulation Devices market key players
3.2 Global Neurostimulation Devices size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Neurostimulation Devices market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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Global Neurostimulation Devices Market - OverviewNeurostimulation is a modulation of the nervous system’s activity.
It is deliberately carried out by using invasive and non-invasive techniques.
Implantable stimulation devices are most used in the treatment of the neurological conditions such as epilepsy, Parkinson’s disease, dystonia, tremors, depression, obsessive compulsive disorder, diabetic neuropathy, and few other conditions.
Increasing cases of the neurological disorders such as chronic pain and depression high adoption of the neurostimulation therapy are likely to improve the market of neurostimulation devices.
According to the World Health Organisation (WHO) neurological disorders are responsible for 4.5%-11% of all illnesses including in low- or high-income economies.
This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to rise further over the coming years.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/2263The market for neurostimulation devices is growing rapidly due to an increase in the number of cases of neurological diseases which is the result of changing lifestyle along with it increase in patient’s awareness about neurological disease, related surgeries and therapies.
