Europe Internal Neuromodulation Devices Market, By Product (Spinal Cord Stimulator (By Lead Type (Percutaneous, Paddle Lead)),, Deep Brain Stimulator, Vagus Nerve Stimulator, Sacral Nerve Stimulator, Gastric Nerve Stimulator), By Indication (Failed Back Surgery Syndrome, Parkinson’s disease, Urinary Incontinence, Epilepsy, Gastroparesis), By Battery Type (Primary, Rechargeable), By End-User (Hospitals, Clinics, Home Healthcare, Community Healthcare), By Country (Germany, France, U.K., Spain, Italy, Russia, Netherlands, Turkey, Belgium, Switzerland, Rest of Europe) - Trends and Forecast to 2024
The Europe Internal neuromodulation market is expected to reach USD 2,503.4 million by 2024, from 948.4 million in 2016 growing at the CAGR of 12.9% in the forecast period 2017 to 2024.
The Europe Internal Neuromodulation devices market is driven by the large geriatric population, and niche disease indications such as Alzheimer, Parkinson among others. The need of pain management and the inclusion of pain as the fifth vital factor have boosted the requirement of neuromodulation devices in this market. The eEuropean market for internal neuromodulation is established and is not growing exponentially but technological developments may insert a boost in this market. The internal neuromodulation markets growth is focused upon expansion of application of these devices.
The market is segmented based on product type, battery type, lead type, by indication, by end user and by geography.
The Internal neuromodulation devices market is segmented into 5 product types Spinal Cord Stimulator, Deep Brain Stimulator, Vagus Nerve Stimulator, Sacral Nerve Stimulator and Gastric Nerve Stimulator. The Spinal Cord Stimulator segment dominates the European internal neuromodulator devices market with more than 53,7% market share in 2015 and is expected to grow at the highest CAGR in the forecast period 2016 to 2024 followed by deep brain stimulator and vagus nerve stimulator. The market is further segmented based on indications of usage into failed back surgery syndrome, conditional regional pain syndrome, eschemia, Parkinson’s disease, Alzheimers, urinary incontinence, faecal incontinenece, epilepsy, gastroparesis and others. The product segments are further divided into rechargeable and primary battery types also for spinal cord stimulators the market is divided into 2 lead types percutaneous and paddle lead.
Based on geography the Europe market is segmented into 11 countries, Germany, France, U.K., Spain, Italy, Russia, Netherlands, Turkey, Belgium, Switzerland and rest of Europe. Germany is expected to dominate the market with 31.7% market share in 2016, and will continue to be the leader in the forecast period 2017 to 2024. Othernotable countries in this market include Turkey, Belgium, Netherlands, U.K., France and Ireland.
The Europe internal neuromodulation market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some of the major players operating in this market are Medtronic, Boston Scientific Corporation, St. Jude Medical, Inc., Nevro Corporation, Cyberonics, Inc. among other companies.