Neurostimulation Devices Market Size – USD 5.60 billion in 2019, Market Growth – CAGR of 12.6%
VANCOUER, BC, CANADA, April 26, 2022 /EINPresswire.com/ — The global Neurostimulation Devices Market will be worth USD 13.70 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the increasing prevalence of chronic nervous disorders. The rising demand for minimally invasive surgeries due to the growing preference among patients and doctors for faster recovery and shorter hospital stays is expected to drive the growth of neurostimulation devices.
The study on the Global Neurostimulation Devices Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Neurostimulation Devices Market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Neurostimulation Devices Market industry.
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The increasing prevalence of neurological disorders, such as epilepsy, Dystonia, Parkinson’s diseases, is most likely to drive the demand for neurostimulation devices. Technological advancement in the healthcare infrastructure of several countries through the implementation of intelligent technologies is expected to boost the demand for the devices. Implementation of advanced technologies such as Artificial intelligence and machine learning is helping in the development of smart neuromodulation, which is most likely to benefit the patients suffering from brain damage.
Top Companies Profiled in the Neurostimulation Devices Market Report Include : BOSTON SCIENTIFIC CORPORATION, ST. JUDE MEDICAL, MEDTRONIC, NEURONETICS, INC., Codman & Shurtleff, Inc., NEVRO CORPORATION, INTRAPACE, Abbott Laboratories, LivaNova PLC, and Bayer AG, among others.
Market Drivers :
The constant efforts of prominent players to develop newer and modern technologies and product advancements are expected to drive the growth of the industry over the coming years. The report studies the extensive business expansion plans and advancements in R&D activities and product portfolio. The report offers a clear understanding of the alliances in the market, such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launches and brand promotions, and corporate deals.
Key Highlights of Report :
In 2019, Medtronic launched the Intellis platform for the management of certain types of chronic intractable pain. The platform was designed to overcome limitations with current spinal cord stimulation (SCS) systems, such as battery performance, and can power the Evolve workflow. It can track patients 24/7 and help in monitoring chronic pain.
The spinal cord stimulator segment held the largest market share of 46.2% in 2019. The rising need for treating spinal injuries and neuropathic pain is most likely to increase the demand for the Spinal Cord Stimulators across the globe.
Pain management is forecasted to grow with the fastest CAGR of 14.0%. The increasing incidence of chronic and acute pain disorders among patients suffering from neurological disorders is expected to increase the usage of neurostimulation devices for pain management.
The Asia Pacific region is expected to be the fastest-growing region over the forecast period. The economic development and increasing Healthcare Budgetary Allocation in developing countries is expected to drive the growth of neurostimulation devices in the region.
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It exclusively offers details about the regulatory framework and development policies that have been implemented in the market over recent years latest Neurostimulation Devices Market trends The Global Neurostimulation Devices Market report is an all-inclusive document on the current scenario of the global Neurostimulation Devices Market industry.
Emergen Research has segmented the global Neurostimulation Devices Market on the basis of Product, Application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Sacral Nerve stimulator
Spinal Cord Stimulator
Vagus Nerve Stimulator
Gastric Electric Stimulators
Deep Brain Stimulators
Application Outlook (Revenue, USD Billion; 2017-2027)
Urinary and Fecal Incontinence
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The global Neurostimulation Devices Market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Neurostimulation Devices Market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements
This survey provides answers to the following important questions:
What is the expected growth rate of the Neurostimulation Devices Market ? What is the market size for the forecast period from 2022 to 2027 ?
What are the main drivers of changing the course of the industry?
Who are the major vendors dominating the Neurostimulation Devices Market industry in different regions? What are their winning strategies to stay ahead of the competition?
What are the market trends for Neurostimulation Devices Market that business owners can trust in the next few years?
What are the threats and challenges that are expected to limit the progress of Neurostimulation Devices Market industry in different countries?
What are the main opportunities available to employers during the forecast period from 2022 to 2027 ?
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
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