Neurostimulation Devices Market Analysis, Growth and Forecast to 2020: P&S Market ResearchMedical Records ManagementUpdated on Nov 3, 2015 View more like this | Visit USK, WA | Contact P&S Market Research |
The neurostimulation devices market is growing with a considerable rate due to rising prevalence of neurological disorders and unprecedented increase in the aging population. Growing geriatric population causing the incidence rates of target diseases, especially in Parkinson and Alzheimer, and the occurrence of high medical needs in disease segments with restricted treatment options including migraine and epilepsy are also some of the factors driving the growth of the neurostimulation devices market. Expansion in emerging economies is providing an ample opportunity to the neurostimulation devices market to grow with a significant rate in the coming future. A significant increase in product development and launches is one of the major trends seen in the neurostimulation devices market.
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North America dominates the neurostimulation devices market due to the presence of high healthcare expenditures and patient awareness levels in the developed countries of the region such as the U.S.
Neuromodulation is the process which implants medical device so as to alter and modulate neural activities for remedial purposes. Neurostimulation devices are used as the implantable devices for neuromodulation. The device’s role is to stimulate nerve impulses by inhibiting pain signals at target sites such as autonomic nervous system, central nervous system, deep nuclei of the brain, and peripheral nervous system.
On the basis of device type, the neurostimulation devices market can be categorized as implantable device and external device. Implantable devices include vagus nerve stimulation, spinal cord stimulation, gastric electric stimulation, deep brain stimulation, sacral nerve stimulation, and cochlear implants. External device includes transcranial magnetic stimulation, respiratory electrical stimulation and transcutaneous electrical nerve stimulation. Spinal cord stimulation includes failed back surgery, chronic pain and ischemia. Deep brain stimulation includes depression, dystonia, Parkinson's disease, Alzheimer's disease, tremor and tourette syndrome. Spinal cord stimulation devices dominate the neurostimulation devices market and they were the first to be commercialized devices among others. The cost efficiency demonstrated by the devices in terms of quality adjusted life years is expected to drive the growth of the market.
On the basis of applications, the neurostimulation devices market can be categorized as urinary and fecal incontinence, gastroparesis, pain management, depression, Parkinson's disease, epilepsy, dystonia, and essential tremor. Pain management leads the application category of the neurostimulation devices market. Growing adoption rates of neurostimulation devices for pain management on account of their high therapeutic value and high global prevalence of chronic pain disorders are some of the factors driving the growth of the pain management category in the neurostimulation devices market. Moreover, the neurostimulation devices market for Parkinson’s disease is expected to grow at a healthy rate during the forecast period majorly on account of the growing global base of geriatric population and the low availability of treatment options for this disease.
Investments and Funds in the neurostimulation devices market, expanded target applications and new indications, and strong product pipeline are some of the factors driving the growth of the neurostimulation devices market. Additionally, with the introduction of technological advanced products such as safety enabled neurostimulators, magnetic resonance imaging (MRI) and the transdermal neuromodulation technology, the neurostimulation devices market is expected to grow by a more significant rate. Whereas, lack of trained professionals and unfavorable reimbursement scenario are the factors restraining the growth of the neurostimulation devices market to some extent.
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Neuromodulation is the process which implants medical device so as to alter and modulate neural activities for remedial purposes. Neurostimulation devices are used as the implantable devices for neuromodulation. The device’s role is to stimulate nerve impulses by inhibiting pain signals at target sites such as autonomic nervous system, central nervous system, deep nuclei of the brain, and peripheral nervous system.
On the basis of device type, the neurostimulation devices market can be categorized as implantable device and external device. Implantable devices include vagus nerve stimulation, spinal cord stimulation, gastric electric stimulation, deep brain stimulation, sacral nerve stimulation, and cochlear implants. External device includes transcranial magnetic stimulation, respiratory electrical stimulation and transcutaneous electrical nerve stimulation. Spinal cord stimulation includes failed back surgery, chronic pain and ischemia. Deep brain stimulation includes depression, dystonia, Parkinson's disease, Alzheimer's disease, tremor and tourette syndrome. Spinal cord stimulation devices dominate the neurostimulation devices market and they were the first to be commercialized devices among others. The cost efficiency demonstrated by the devices in terms of quality adjusted life years is expected to drive the growth of the market.
On the basis of applications, the neurostimulation devices market can be categorized as urinary and fecal incontinence, gastroparesis, pain management, depression, Parkinson's disease, epilepsy, dystonia, and essential tremor. Pain management leads the application category of the neurostimulation devices market. Growing adoption rates of neurostimulation devices for pain management on account of their high therapeutic value and high global prevalence of chronic pain disorders are some of the factors driving the growth of the pain management category in the neurostimulation devices market. Moreover, the neurostimulation devices market for Parkinson’s disease is expected to grow at a healthy rate during the forecast period majorly on account of the growing global base of geriatric population and the low availability of treatment options for this disease.
Investments and Funds in the neurostimulation devices market, expanded target applications and new indications, and strong product pipeline are some of the factors driving the growth of the neurostimulation devices market. Additionally, with the introduction of technological advanced products such as safety enabled neurostimulators, magnetic resonance imaging (MRI) and the transdermal neuromodulation technology, the neurostimulation devices market is expected to grow by a more significant rate. Whereas, lack of trained professionals and unfavorable reimbursement scenario are the factors restraining the growth of the neurostimulation devices market to some extent.
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Some of the competitors in the neurostimulation devices market are NDI Medical, LLC, St. Jude Medical, Inc., Cyberonics, Inc., Medtronic plc, Cochlear, Ltd, NeuroSigma, Inc., Boston Scientific Corporation, MED-EL GmbH, and NeuroPace, Inc.
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About P&S Market Research
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Contact:
Ms Somya
Manager – Client Partner
347, 5th Ave. #1402
New York City, NY - 10016
Toll-free: +1-888-778-7886 (USA/Canada)
Email: [email protected]
Web: https://www.psmarketresearch.com
