Neurostimulation Devices - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Neurostimulation Devices Market is accounted for $5.61 billion in 2019 and is expected to reach $16.58 billion by 2027 growing at a CAGR of 14.5% during the forecast period. Some of the key factors propelling the growth of the market are growing prevalence of neurological disorders, growing adoption of innovative products, and rising demand for minimally invasive surgery. However, the lack of skilled healthcare practitioners is the restraining factor for the growth of the market.
Equipment used for neuromodulation is known as neurostimulation device. This device helps in the treatment of neurologic disorders by assuring the delivery of electrical stimulation to the intended parts of the patient’s brain, peripheral nervous system, and spinal cord.
By product, the spinal cord stimulators (SCS) segment is expected to grow at a significant market share during the forecast period owing to the high market penetration of commercially available products in this segment. Based on geography, North America is anticipated to hold considerable market share during the forecast period which is attributed to the growing geriatric population, changing lifestyles, and increasing consumption of alcohol and junk food.
Some of the key players in Neurostimulation Devices Market include Medtronic, Cyberonics, Boston Scientific Corporation, St. Jude Medical, Nevro Corporation, Electromedical Products International (EPI), NeuroPace, Inc., Aleva Neurotherapeutics SA, BioControl Medical, EnteroMedics Inc, Bioness Inc, Autonomic Technologies, Neuronetics, Inc, Multi Radiance Medical, Inc, American Imex, Amrex Electrotherapy Equipment, Synapse Biomedical, LivaNova PLC, DePuy Synthes Inc, NeuroSigma Inc, Abbott Laboratories, and Integer Holdings Corporation.
• Cochlear Implants (CI)
• Spinal Cord Stimulators (SCS)
• Deep Brain Stimulators (DBS)
• Sacral Nerve Stimulators (SNS)
• Gastric Electric Stimulators (GES)
• Percutaneous Tibial Nerve Stimulators
• Auditory Brainstem Implant
• Hypoglossal Nerve Stimulation
• Transcranial Magnetic Stimulators
• Vagus Nerve Stimulators (VNS)
End Users Covered:
• Research Institutes/Scientific Research Laboratories
• Cognitive Care Centers
• Rehabilitation Centers
• Medical Clinic
• Ambulatory Surgery Centers
• Specialty Clinics
• Neurological Disorders
• Chronic Pain
• Movement Disorders
• Treatment Resistant Depression(TRD)
• Obsessive Compulsive Disorder(OCD)
• Hearing Loss
• Pain Management
• Neurologic Urinary and Fecal Incontinence
• Essential Tremor
• Depressive Disorder
• Respiratory Disorders
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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