by on April 23, 2021
The global Implantable Neurostimulation Devices market is expected to reach $xx MN in 2026 from $xx MN, at a CAGR of 12.8% during the forecast period.
Implantable Neurostimulation Devices Market Overview & Dynamics:
Neurostimulation is the purposeful modulation of the nervous system's activity using invasive or non-invasive means. An implantable neurostimulator is a surgically placed device about the size of a stopwatch. It delivers mild electrical signals to the epidural space near your spine through one or more thin wires, called leads. They have been used to treat and relieve symptoms for neurological disorders, Parkinson’s disease, epilepsy, tremor, dystonia, tinnitus, stroke, incontinence, gastroparesis, and obesity.
Rapid advancements in Neurostimulation Technologies are providing growth opportunities to the market.
Increasing advances in Neurostimulation technologies are providing relief to an unprecedented number of patients affected by debilitating neurologic and psychiatric disorders. Recent advances in neurotechnologies and neuroimaging, along with an increased understanding of neurocircuitry, are factors contributing to the rapid rise in the use of Neurostimulation therapies to treat an increasingly wide range of neurologic and psychiatric disorders. On the contrary, the rising geriatric population, rise in prevalence of lifestyle diseases such as depression and chronic pain and investment in research & development activities boost the market growth.
Discomfort caused due to invasive surgical procedures may impact negatively on the market growth.
Implantation of the device by invasive means may cause discomfort in the patients and the high cost of the device may hamper the market growth. Also, side-effects and risks associated with Neurostimulation therapy and availability of other options of treatment for neurological disorders are some of the negative factors likely to hinder the market growth.
The report has profiled nineteen key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimation the size of the same. Increasing R&D activities in each region are different and focus is given on the regional impact on the cost, availability of advanced technology are analyzed and the report has come up with recommendations for a future hot spot in the APAC region.
Implantable Neurostimulation Devices Market Segment Analysis:
The global Implantable Neurostimulation Devices Market is segmented based on technology, application, and end-users. The technology segment includes innovative novel technologies like Spinal cord stimulation (SCS), Deep brain stimulation (DBS), Sacral nerve stimulation (SNS), Gastric electric stimulation (GES). The spinal cord stimulation (SCS) segment the largest revenue share of $ 2270 MN in 2018. It is expected to grow at a significant pace during the forecast period. A Spinal Cord Stimulator (SCS) or Dorsal Column Stimulator (DCS) is a type of implantable neuromodulation device that is used to send electrical signals to selected areas of the spinal cord (dorsal columns) for the treatment of certain pain conditions.
According to the news article released in October 2020, Boston Scientific launched spinal cord stimulator systems in Europe.
Boston Scientific announced the European launch of the WaveWriter Alpha portfolio of Spinal Cord Stimulator (SCS) Systems. The portfolio, consisting of four MRI conditional1, Bluetooth-enabled implantable pulse generators (IPGs), and offers expanded personalization based on patient needs, including rechargeable and non-rechargeable options, and access to waveforms that can cover multiple areas of pain. Chronic pain impacts approximately 100 million people across Europe. The WaveWriter Alpha SCS Systems received the CE Mark and are indicated as an aid in the management of chronic intractable pain. They are also indicated for peripheral nerve stimulation of the trunk for pain management.
Mayfield Brain & Spine clinic most recently was among the first in the United States to offer the next-generation Senza Omnia Spinal Cord Stimulation System for the treatment of patients who suffer chronic pain in the lower limbs or back. It was recently approved by the U.S. Food and Drug Administration (FDA) and is the first and only spinal cord stimulation system designed to deliver Nevro's proprietary HF10 therapy and many other available frequencies.
Global Implantable Neurostimulation Devices Market
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Implantable Neurostimulation Devices Market Regional Insights:
Global Implantable Neurostimulation Devices Market1
North America held the dominant revenue share and is expected to continue the dominance throughout the forecast period.
The rising prevalence of neurological disorders and advent of a sedentary lifestyle in the region, increasing geriatric population are some of the factors that help in market augmentation. According to an article published in 2017, neurological disorders affect around 100 million North Americans, indicating that about one-third of the total population suffers from neurological diseases, such as Alzheimer’s, multiple sclerosis, migraines, epilepsy, and spinal cord injury. As per the data published by WHO, in 2017, the prevalence of urinary incontinence ranges from 9.9% to 36.1% (reported in population-based studies). Moreover, the development of innovative & novel technologies in neurostimulators and favorable reimbursement policies by the US government will also add up to the market growth.
The Asia Pacific is expected to witness lucrative opportunities during the forecast period.
APAC is experiencing the fastest growth as the geriatric population increasing rapidly more prone to chronic diseases, rising awareness, favorable government policies, increased healthcare expenditure, and modernization in medical infrastructure essentially in developing nations like India, China, and Japan.
Global Implantable Neurostimulation Devices Market2
The report also helps in understanding Global Implantable Neurostimulation Devices dynamics, structure by analyzing the market segments and project the Global Implantable Neurostimulation Devices size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Implantable Neurostimulation Devices make the report investor’s guide.
Implantable Neurostimulation Devices Market Scope: Inquire before Buying
Global Implantable Neurostimulation Devices Market3
Implantable Neurostimulation Devices Market, By Region:
• North America
• Europe
• South America
Implantable Neurostimulation Devices Market Key Players:
• St. Jude Medical
• Medtronic Inc.
• Boston Scientific Corporation
• BioControl Medical
• Synapse Biomedical Inc.
• Nevro Corporation
• Spinal Modulation
• Cyberonics, Inc.
• Abbott
• LivaNova
• NeuroPace
• Beijing Pins
• Cochlear, Ltd.
• NDI Medical, LLC.
• NeuroSigma, Inc.
• NeuroMetrix
• Sonova
• The Magstim Company Limited
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Posted in: Health
Topics: healthcare
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