The global Neurostimulation Devices market was valued at USD 4.98 Billion in 2022 and is expected to reach USD 12.7 Billion by the year 2032, at a CAGR of 12.4%. Neurostimulators or Neurostimulation is 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 emergence of Neurostimulation Devices as a neural activity modulator is a significant disruptive finding in the healthcare sector. In line with this, Neurostimulation devices market leaders, as well as emerging players, are engaged in the launch and development of mechanisms that can be used for neural activities modulation. For instance, Medtronic plc, a US-based medical device company launched The Restore Sensor SureScan MRI neurostimulator, a device automatically adjusts stimulation based on the patient’s needs and preferences in different body positions and allows patients safe access to MRI scans anywhere in the body.
The global market is propelled by several factors such as increasing prevalence of chronic diseases, rising geriatric population, growing number of unmet medical needs, rising evidences of neurological disorders, increase in demand for minimally invasive surgeries, strategic developments by market players such as partnerships and agreements, favorable research funding scenario, and development pressure on market players due to upcoming patent expiry. The Neurostimulation Devices market is fragmented and includes a large number of healthcare leaders as well as emerging players. Additionally, these emerging players have an excellent opportunity to enter the Neurostimulation Devices market, owing to the availability of research funding, and complimentary regulatory scenario for external medicines. In June 2019, Boston Scientific Corporation announced the acquisition of Vertiflex, Inc., a privately-held company that developed and commercialized the Superion Indirect Decompression System, a minimally-invasive device used to increase physical function and overcome pain in patients with lumbar spinal stenosis (LSS).
Request a Sample@ https://www.qyresearchmedical.com/sample/119266
Key Coverage of the Report
- Region and country-wise assessment from the period 2023-2032. For the study, 2021-2022 has been utilized as historical data, 2023 as the base year, and 2023-2032 has been derived as forecasts for the Neurostimulation devices market
- Company profiling with detailed strategies, financials, and recent developments.
- To define, describe, and forecast the global Neurostimulation devices market with respect to the type of product, material type, end-user, and region
- Strategical analysis of micro markets and macro markets with respect to individual growth trends, prospects, and contributions to the overall market.
- Demand and Supply GAP Analysis.
- Neurostimulation devices market forecasts for a minimum of 6 years of all the mentioned segments, and the regional markets
- Analysis of the presence of Neurostimulation devices market in the country along with region-wise analysis and their market penetration across the regions; their structure, i.e., chain, independent, pharmacies, and hospitals; and the availability of Neurostimulation devices.
- Detailed analysis of information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
- The regulatory framework of different nations is analyzed in detail.
- Key strategic initiatives of the Neurostimulation devices industry like mergers, acquisitions, product developments, product launches, product agreements, regulatory approvals, collaborations, partnerships, market extensions, service launches and market penetration of the Neurostimulation devices market players and their detailed analysis.
- Analysis of competitive intelligence through strategic developments and market opportunities for stakeholders with complete details of the market leaders.
- A comprehensive mapping of the competitive landscape and market participants’ behavior.
- Regional Competitors pipeline analysis of the Neurostimulation devices market
- Complete Neurostimulation devices market forecast & estimation of the global Neurostimulation devices market with respect to five central regions—North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East and Africa (MEA)
Salient Trends of the Neurostimulation Devices Market
- Launch of new devices for Neurostimulation is expected to support the market growth during coming years. For instance, Medtronic offers the pain Neurostimulation system with SureScan MRI Technology which has FDA-approval and which is engineered for patients to safely undergo a MRI scans
- There are promising devices for Neurostimulation in the pipeline. The anticipated launch of these devices is likely to support the Neurostimulation devices market growth during forecast period
- Europe is anticipated to hold 30.6% of market share by year 2032, the regional segment is further expected to grow at a CAGR of 12.1%.
- Neurostimulation Devices are majorly sold over the counter across the globe. Lack of awareness about these devices and risks associated with Neurostimulation devices is a major challenge for the market growth across the globe
- Availability of alternative therapeutic procedures or external substitutes related to Neurostimulation Devices are the major challenges for the market growth.
Companies considered and profiled in this market study
Medtronic PLC, Biocontrol Medical, St. Jude Medical, Spinal Modulation, Boston Scientific Corp., Synapse Biomedical Inc., Cochlear, Cyberonics, Inc., and Nevro Corp are some of the major players in Neurostimulation devices market.
- As of 2018, Spinal Cord Stimulators is the leading product segment of the global Neurostimulation Devices However, Sacral Nerve Stimulators segment is expected to register highest CAGR among Neurostimulation Devices
- Sacral Nerve Stimulators segment was valued at USD 1,553.2 million in 2018 and is expected to grow at the largest rate of 13.2%. Increasing global prevalence of chronic diseases is the prominent factor contributing to the market growth of this product segment
- The market for Pain Management application type segment is expected to reach USD 5.38 billion by year 2032, growing at a CAGR of 12.9% during the forecast period
- The Essential Tremor application type segment is expected to register a CAGR of 11.7% during 2019-2032.
- Asia-Pacific regional segment of the Neurostimulation Devices market is expected to remain highest growing segment during 2019-2032, at a CAGR of 13.6%; owing it to the untapped market potential offered by chronic disease patients in developing nations such as China & India.
Segments covered in the report
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 2023 to 2032.
For the purpose of this study have segmented the Neurostimulation Devices market on the basis of type, Product type, Application type, end use, and region:
Product Type (Revenue, USD Million; 2023–2032)
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Gastric Electric Stimulators
Application Type (Revenue, USD Million; 2023–2032)
- Pain Management
- Essential Tremor
- Urinary and Fecal Incontinence
- Parkinson’s Disease
Type (Revenue, USD Million; 2023–2032)
End Use (Revenue, USD Million; 2023–2032)
- Cognitive Care Centers
- Research Institutes
Regional Outlook (Revenue in USD Million; 2023–2032)
- North America
- Rest of the Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
Buy quantitative research Report at discounted price – USD 1500 https://www.qyresearchmedical.com/report/checkout/119266/1500
You can place an order or ask any questions, please feel free to contact email@example.com | +1 9197 992 333
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover North America, Europe, Latin America, Middle East and Africa, Asia- Pacific.
For Latest Update Follow Us: