Global Neuro-Stimulators Market By Product (Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Responsive Neuro Stimulation, Transcranial Magnetic Stimulation, Peripheral Nerve Stimulation, Gastric Electric Stimulator), Application (Pain Management, Epilepsy, Essential Tremor, Hearing Loss, Urinary & Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Neuro-Stimulators Market
Global neuro-stimulators market is expected to rise to an estimated value of USD 13.00 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the innovations of technologies and significant advancements of these technologies.
Market Definition: Global Neuro-Stimulators Market
Neuro-stimulators are implantable medical devices normally of the size of a small pocket watch or stopwatch. These devices are utilized in the neurostimulation procedures responsible for delivery of electric signals of a mild nature around the spinal area of the wearer with the help of wires, also known as leads. These devices or therapy system is highly useful in treatment of different disorders with a specialization in delivering pain relief.
- High volume of patients suffering from various lifestyle-related disorders; this factor is expected to drive the market growth
- Growing volume of patient suffering from various chronic diseases will also boost the growth of this market in the forecast period
- Growing volume of geriatric population worldwide resulting in high volume of target population base will also propel the market growth
- Focus of various authorities and organizations on enhancing the levels of understanding giving rise to high volume of research & development activities
- Availability and preferences for alternative treatment modes is expected to act as a restraint for the market growth
- Complications and significant negative impacts associated with these devices resulting in lack of usage will also restrict the growth of the market
- Existence of various strict and complicated regulatory compliances for the approval of these products; this factor is expected to hinder the growth of the market
Segmentation: Global Neuro-Stimulators Market
- Spinal Cord Stimulator
- Deep Brain Stimulator
- Sacral Nerve Stimulator
- Vagus Nerve Stimulator
- Responsive Neuro Stimulation
- Transcranial Magnetic Stimulation
- Peripheral Nerve Stimulation
- Gastric Electric Stimulator
- Pain Management
- Essential Tremor
- Hearing Loss
- Urinary & Fecal Incontinence
- Parkinson’s Disease
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2019, Boston Scientific Corporation announced the availability of “Spectra WaveWriter Spinal Cord Stimulator System” for the European region. This system is the first approved which can be used for the treatment of chronic pain while also offering paresthesia-based and sub-perception therapy alongside pain relief. The system will be able to provide physicians with real-time information for the patient while treating chronic pain successfully
- In January 2019, Abbott announced positive results for their multicenter study involving the company’s “BurstDR” stimulation device delivering low-energy intermittent doses, also known as “microdosing”. This method is capable of treating chronic pain or providing pain relief as effectively as standard dosing with “BurstDR” stimulation. This study will help enhance the overall battery life of spinal cord stimulation devices without compromising on the pain relief focus of these devices
Global neuro-stimulators market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neuro-stimulators market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global neuro-stimulators market are Boston Scientific Corporation; Abbott; Medtronic; Nevro Corp.; LivaNova PLC; Neuronetics; Laborie, Inc.; SYMMETRY SURGICAL INC; IntraPace, Inc.; NDI Medical, LLC; NeuroPace, Inc.; electroCore, Inc.; Nuvectra; Stimwave LLC; NeuroSigma, Inc.; Saluda Medical Pty Ltd.; Synapse Biomedical Inc. among others.
Research Methodology: Global Neuro-Stimulators Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed 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 an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global neuro-stimulators market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)