03 Feb 2021
"Neurostimulation Devices Market is valued at USD 6.25 Billion in 2020 and expected to reach USD 14.34 Billion by 2027 with the CAGR of 12.59% over the forecast period"
Increase in the prevalence of neural disorders and growing R&D activity are driving the growth of Neurostimulation Devices market over forecast period.
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Scope of Global Neurostimulation Devices Market Reports –
The implantable, programmable medical devices that transfer electrical simulation to specific parts of the patient’s brain, spinal cord and peripheral nervous system is called neurosimulation devices. These devices are used for treating conditions such as chronic pain, movement disorders, epilepsy and Parkinson’s disease. The device provides pain relief by disrupting the pain signals roaming between spinal cord and brain. The device has the features of adjusting the strength and location of simulation to solve the pain problem at the time changing body position. It has several components such as neurostimulator, leads and patient’s programmer. These implantable neurostimulation devices aim specific deep subcortical, cortical, spinal, cranial, and peripheral nerve structures to control neuronal activity, offering therapeutic effects for different types of neuropsychiatric disorders.
Global Neurostimulation Devices Market report is segmented on the basis of product, application, and by regional & country level. Based on product, global Neurostimulation Devices market is classified as deep brain, gastric electric, spinal cord, sacral nerve, vagus nerve. Based upon application, global Neurostimulation Devices is classified into pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, Parkinson’s disease.
The regions covered in this Neurostimulation Devices market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of clinical decision support system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Neurostimulation Devices Market Reports-
Some major key players for Global Neurostimulation Devices Market are ImThera Medical, St. Jude Medical, Neuronetics, Boston Scientific, Bayer, Medtronic, Nevro, Uroplasty, Cyberonics, NeuroSigma Inc., LivaNova PLC, Cochlear Ltd., Endostim Inc., Aleva Neurotherapeutics SA and others.
Global Neurostimulation Devices Market Dynamics –
Increase in neural disorders such as epilepsy, lifestyle diseases such as depression and chronic pain and growing research on neurology and brain activity are the factors driving the neurostimulation devices market. For instance, the updated Global Burden of Diseases, Injuries, and Risk Factors Study (GBD) 2016 on neurological disorders published in The Lancet Neurology states that 9 million deaths have occurred due to neural disorders and with 16.5% global deaths, it is the second leading cause of death after heart disease and with 276 million disability-adjusted life-years (DALYs) which is 11.6% of global DALYs, neurological disorder is the major cause of disability. This number in turn shows the growing demand and usability of neurostimulation devices for the people who are constantly in pain due neurological disorders. Technological advancement such as nervous system stimulator device allows patient management for varied types of nerve disorders which will accelerate neurostimulation device business growth. For instance, new technological devices are being developed to restore vision and to recover from serious injuries such as researchers are applying electric stimulation that support patients in regaining their body function and FDA approval of first visual prosthesis for treatment purpose. But side effects of neurostimulation devices such as allergic reaction, and tingling or prickling sensation at the time of implantation as well as growing device cost is restraining the market up to some extent.
Global Neurostimulation Devices Market Regional Analysis –
North America is dominating the neurostimulation devices market with highest market share due to robust healthcare infrastructure, growing R&D activity and presence of major healthcare players. According to American Nerological Association, due to increase in life expectancy, dementia will be increasingly prevalent with about 8.4 million Americans aged more than 65 years will have dementia by 2030. The prevalence of such type of diseases will help the market growth of neurostimulation devices. Europe has second highest share in this market due to easy procedures of obtaining CE approval as well as growing geriatric population. According to WHO, mental health is one of the most common disorder in Europe, for which European healthcare is more dependent on stimulation devices for treatment purpose. In case of Asia-pacific, it will have highest growth rate in forecast period as many manufacturers are shifting their facilities in to this region due to increasing demand for healthcare facilities as well as huge untapped potential that it provides due to presence of developing countries such as China and India.
Key Benefits for Global Neurostimulation Devices Market Reports–
Global Neurostimulation Devices Market report covers in depth historical and forecast analysis.
Global Neurostimulation Devices Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Neurostimulation Devices Market report helps to identify opportunities in market place.
Global Neurostimulation Devices Market report covers extensive analysis of emerging trends and competitive landscape.
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Global Neurostimulation Devices Market Segmentation –
Urinary and Fecal Incontinence
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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