A recent report published by Infinium Global Research on the neurostimulation devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional neurostimulation devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional neurostimulation devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global neurostimulation devices market. According to the report, the global neurostimulation devices market is projected to grow at a CAGR of 10.9% over the forecast period of 2019-2025.
The demand for Neurostimulation devices is expected to rise in the forecast period. An implanted neurostimulation helps patients to get relief from chronic pain, which is accomplished by delivering mild electric signals to the epidural space near the spine through leads that modifies the pain signals reaching towards the brain. Different types of neurostimulator devices are available in the market depending upon the medical need.
Increasing cases of Parkinson’s disease, epilepsy and depression, and other neurological disorders globally is the major factor fuelling the growth of the market. According to WHO neurological disorders constitute 6.3% of the global burden of disease thus indicates the high demand for Neurostimulation devices in the forecast period. Moreover, the rising number of geriatric population is another major factor contributing to the growth of the market. According to WHO Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. By 2020, the number of people aged 60 years and older will outnumber children younger than 5 years. On the other hand, high costs associated with devices and a lack of trained experts can hamper the growth of the market. However, rising research and development activities and increasing awareness about the advanced pain management systems will provide ample opportunities to the market.
Geographically, global neurostimulation devices market segmented by North America, Europe, Asia-Pacific, and RoW. North America dominates the market and anticipated to keep its dominance in the forecast period, followed by Europe. Large patient pool suffering from neurological disorders, advanced healthcare facilities and increasing funding for research and development are and availability of reimbursement policies are supporting the growth of the market in these regions. The market in Asia-Pacific is expected to grow with a steady rate, high cost of the treatment and unsupportive reimbursement policies causing the slow growth of the market.
The report on the global neurostimulation devices market covers segments such as product, application, and end user. On the basis of product, the sub-markets include spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation devices, sacral nerve stimulation devices, gastric electric stimulation devices, and other devices. On the basis of application, the sub-markets include parkinson's disease, epilepsy, chronic pain management, alzheimer’s, ischemia, and other applications. On the basis of end user, the sub-markets include hospitals, scientific research laboratories, and other end users.
The report provides profiles of the companies in the market such as Boston Scientific Corporation, Medtronic, Inc., Nevro Corporation, Neurosigma, Inc., Neuropace, Inc., St. Jude Medical Inc., Aleva Neurotherapeutics SA, Synapse Biomedical, Inc., Neuronetics, Inc., Cyberonics, Inc., and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the neurostimulation devices market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.