Neurostimulation Devices Market size is projected to grow from USD 4.58 billion in 2015 at over 14.5% CAGR; according to the latest research report by Global Market Insights, Inc.
Growing geriatric population proportion and presence of high unmet medical needs pertaining to chronic diseases, and introduction of technological advancements is likely to drive the global neurostimulation devices market size.
Sacral nerve stimulator is identified to be most attractive usage segment, forecast to grow at highest CAGR of 19.7%, from 2016 to 2023. Spinal cord stimulators dominated the market in 2015, accounting for over 57% of global revenue. These devices were the first kind of neurostimulation devices to be commercialized and therefore, hold a competitive edge over the rest of the devices in terms of market penetration rate.
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Moreover, the introduction of technologically advanced products such as MRI safety and Bluetooth enabled devices, and the cost effectiveness exhibited by these devices in terms of quality adjusted life years (QALY) should drive the growth of this market.
Asia Pacific is expected to offer neurostimulation devices market lucrative growth opportunities in the coming years, due to presence of high unmet needs, rapidly developing healthcare infrastructure, and rising disposable income. Regional revenue was USD 636.4 million in 2015, with 17.9% CAGR growth target from 2016 to 2023.
To access sample pages or view this report titled, “Neurostimulation Devices Market Size By Product [Deep Brain, Gastric Electric, Spinal Cord, Sacral Nerve, Vagus Nerve], By Application [Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease], Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2016 - 2023” in detail along with the table of contents, please click on the link below:
Key insights from the report include:
Last updated on: 15/09/2016
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