Trusted Business Insights presents the Updated and Latest Study on Neurostimulation Devices Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Neurostimulation Devices Market
Industry / Sector Trends
Neurostimulation Devices Market size was valued over USD 7 billion in 2018 and is expected to witness 15.2% CAGR from 2019 to 2025.
Increasing prevalence of neurological disorders including epilepsy, depression, Alzheimers, dementias, Parkinsons disease, migraine and multiple sclerosis in developed economies is the key driving factor in the neuro stimulation devices business growth. According to World Health Organization, mental health is one of the most common disorder among European population. Thus, surge in number of mental disorders will accelerate the demand for neuromodulators. Moreover, neurostimulation devices deliver electrical stimulation to accurate parts of peripheral nervous system (PNS), spinal cord, and brain to treat various neurological disorders. Several such benefits associated with neurostimulation devices will augment industry growth over the coming years.
Technological innovations such as devices that electrically stimulate nervous system allowing patient management for different types of nerve disorders will foster neuro stimulation devices business growth. Novel technologies developed to restore vision, help in movement after paralysis and recover from traumatic injury will augment the demand for such devices. For instance, researchers use electric stimulation that assist patients with spinal cord injury and regain control of body functions. Additionally, FDA has approved the first visual prosthesis, that has allowed physicians to manage patient health more accurately. Above mentioned aspects will further propel the need for advanced neurostimulators. However, lack of skilled healthcare professionals may impede neurostimulation devices industry growth during the analysis timeframe.
Market Segmentation, Outlook & Regional Insights: Neurostimulation Devices Market
Neurostimulation Devices Market, By Product
Sacral nerve stimulators segment is estimated to show around 19% CAGR during the forecast timeline. Increasing number of people suffering from incontinence coupled with several efforts by manufacturers for introducing advanced sacral nerve stimulators will prove beneficial for segment growth. Moreover, ability of these devices to stimulates the bowel, sphincter and bladder muscles for normal functioning will increase the adoption of neuro stimulation devices.
Deep brain stimulators segment held over 17% revenue share in 2018 and is expected to rise significantly by 2025. Advantages such as reduced disruption of other brain parts and minimum complications as compared to pallidotomy and thalamotomy will boost segmental growth. Deep brain stimulators facilitate change in brain stimulator injection according to patients response to medication and disease progression with an aim to eliminate the need for surgery. Such factors should propel segment growth during the analysis period.
Neurostimulation Devices Market, By Application
Urinary and fecal incontinence segment accounted for more than USD 750 million in 2018 and is estimated to witness considerable demand over the forthcoming years. Treatment of fecal and urinary incontinence can be achieved by surgically implanted system. This system comprises of sacral nerve stimulation (SNS) that applies minor electrical pulses to sacral nerves and impact the working of bladder. Growing adoption of neurostimulation devices in such treatments will spur the segment size.
Depression segment held significant revenue share in 2018 and is projected to show over 13.5% CAGR during the forecast timeline. Several substitutes for antidepressant drugs including vagus nerve stimulation, direct current transcranial stimulation and electroconvulsive therapy will favor segmental growth. Additionally, stimulation is focused on areas of brain involved in depressive disorder. Rising cases of depression worldwide will thus accelerate the segment growth.
Germany Neurostimulation Devices Market Size, By Application, 2018 (USD Million)
Neurostimulation Devices Market, By Region
Europe neurostimulation devices market is estimated to witness around 16% CAGR during the forecast timeframe. Growing preference for advanced technologies and innovative treatments should result in escalating use of neurostimulators across the region. Also, presence of established market players focusing on development of technologically driven products will boost the regional business growth.
Asia Pacific market is projected to exceed USD 3 billion by 2025. Rising health concerns and rapidly rising prevalence of neurological diseases among the population will spur regional market size. Increasing healthcare spending for better patient management coupled with developments in healthcare infrastructure should foster Asia Pacific neuromodulation industry growth.
Key Players, Recent Developments & Sector Viewpoints: Neurostimulation Devices Market
Some of the prominent industry players operating in neurostimulation devices industry include ImThera Medical, St. Jude Medical, Neuronetics, Boston Scientific, Bayer, Medtronic, Nevro, Uroplasty and IntraPace. The business players implement numerous strategies such as collaborations and product innovations to maintain industry position.
Recent industry developments:
In June 2018, NeuroPace launched next generation RNS system. A system for the treatment of refractory epilepsy. The company aimed at utilizing latest technologies to explore every treatment for better patient care
In April 2018, Allergan launched TrueTear, an Intranasal Neurostimulation Device at 2018 ASCRS-ASOA annual meeting. This technology delivers drop-free and drug-free selection for patients suffering from inadequate tear production. The new product launch has helped company to strengthen its existing product portfolio and sustain market competition
Neurostimulation Devices Industry Viewpoint
History of neurostimulation devices can be tracked back in 1950s and 1960s, when the first spinal cord stimulation system was introduced for chronic pain treatment. In 1960s, scientists began experimenting with implanted electrodes as a means for restoring hearing loss and first tested the long-term safety and effectiveness of implanting electrodes in the human brain. Later in 1972, first functional cochlear implant prototype, using a single electrode, was implanted into a patient with other advances. Also, several implantable devices for effective patient management were then approved by the FDA. Then in 2000s-2010s, there was a rapid growth in the neurostimulation industry seeking new targets. Advent in technology has led to introduction of novel devices over the last few years. Thus, growing demand for neuro stimulation devices in treatment of various neurological disorders will accelerate industry growth during the forthcoming year
What are the Key Insights Covered: Exhaustive Neurostimulation Devices Market
1. Market size (sales, revenue and growth rate) of Neurostimulation Devices industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Neurostimulation Devices industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Neurostimulation Devices industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Neurostimulation Devices industry.
Research Methodology: Neurostimulation Devices Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Neurostimulation Devices Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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