This Neurostimulation market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Neurostimulation market.
Neurostimulation is used for the treatment of various debilitating conditions such as gastroparesis, incontinence, Parkinson’s disease, epilepsy, depression and essential tremors. Neurostimulation is a highly potential treatment option for patients who do not obtain relief from medications and surgical therapies. It improves the quality of life of patients who are severely paralyzed or suffering from intense loss of various sense organs. Therefore, neurostimulation is highly instrumental in artificial vision, hearing aids, artificial limbs and other prosthetics.
The global neurostimulation market is analyzed based on the therapies in which neurostimulation systems are utilized. This includes the following segments:
- Deep brain stimulation (DBS)
- Spinal cord stimulation (SCS)
- Vagus nerve stimulation (VNS)
- Sacral nerve stimulation (SNS)
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Spinal cord stimulation therapy accounts for the largest share in the global neurostimulation market owing to the presence of a large number of SNS neurostimulators in treating diabetic neuropathy, pain, postherpetic neuralgia, ischemic limb pain and acute herpes zoster pain. Deep brain stimulators are currently approved for the treatment of neurological disorders such as Parkinson’s disease, epilepsy, dystonia, obsessive-compulsive disorder (OCD), essential tremors and depression. However, extensive research and advancement in technology leading to new, exciting applications such as stroke, obesity, autism, sleep disorders and many others will expand the deep brain stimulator market at a faster pace.
There is a rising need for devices with improved outcome, ability to pre-sense a neurological episode on-set, optimize the inter-device communication and better user interface. Developing technologies sufficing the treatment objective and market demand will lead to an increase in the demand for neurostimulation therapy and devices. Moreover, aging population driving rise in the incidence of neurological disorders such as Parkinson’s disease, epilepsy, essential tremors and depression related disorders will lead to an increase in demand for neurostimulation. In addition, neurostimulation devices and systems are gaining acceptance for the treatment of chronic pain especially in the developing economies such as India, China, Brazil, Mexico and Russia. Furthermore, increase in FDA approvals for novel neurostimulators with new applications, will expedite the growth of the global neurostimulation market in the near future. However, lack of a reliable measuring systems which can provide the expected outcome of neurostimulation therapies is a major challenge for manufacturers. High cost of the therapy is a deterring factor for the neurostimulation market, which can be subsided by gaining reimbursement for such devices.
The neurostimulation market, currently, is strong in North America and Europe, but is experiencing faster growth in Asia-Pacific region, mainly across China, Brazil and India. Growth in the Asia-Pacific region will be mainly driven by increase in patient awareness and acceptance of neurostimulation as an alternative treatment for chronic pain and neurological disorders. Neurostimulation device manufacturing companies and their research affiliates are continuously working on developing novel devices and technologies which can enhance the therapeutic outcome of existing devices and simultaneously gain market advantage. The strategic approaches followed by these companies are focusing on creating new markets and increasing their existing market share.
The global neurological market is characterized by few dominating players which pose a challenge for the new entrants in the global neurostimulation market. The major players in the neurostimulation market include Boston Scientific Corporation, Cyberonics Inc., St. Jude Medical Inc., Medtronic Inc., NeuroPace Inc., and NeuroSigma, Inc.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2012 - 2014
- Market Size & Forecast 2015 to 2025
- Supply & Demand Value Chain
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Market Drivers and Restraints
Regional analysis includes
- North America
- US & Canada
- Latin America
- Brazil, Argentina & Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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- The current and future market size, covering each aspect and nuanced trends across key national and geographic markets
- An overview of the market report, providing an imperative visual of the varied market subdivisions and overall forecast statistics in terms of value and volume
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- Underlying Neurostimulation Market forces that are compelling consumers or businesses to purchase the product
- How novel technologies and consumer-centric innovations will create new value-adding opportunities for companies active in the Neurostimulation Market
- What will be environment and regulatory impacts on the market over the next decade
Which framework has been used to develop the Neurostimulation Market report?
- Investment Feasibility Matrix - It shows returns on investment, level of competition, success rate of investment, and potential risks associated with the market. The analysis shows that the competition is high in the established market, while the returns for short-term investment are also taken into consideration
- Relative Maturity Mapping – The relative maturity is measured according to three growth phases (growth, maturity, decline)
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