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11-Mar-2019

Global Neurostimulation Devices Market:Growing Automation in Healthcare to Benefit Growth of the Market

Neurostimulation devices are used for treatment of long lasting chronic pain. It is an electric system which work with the help of battery which is placed under skin. Also, Lead (medically used wire) is placed inside the body either in spine at back, at neck, or on specific nerve. The device sends small electric beats; these electric beats block the pain message from reaching the brain. Neurostimulation does not remove the source of pain but changes feeling of pain.

Major factor driving growth of the global neurostimulation devices market is increasing incidences of neurological disorders and rising demand by geriatric population for minimal invasive procedures with easy and early recovery. In addition, increasing government expenditure on healthcare sector in developed and developing countries and technological advancements in neurological treatment devices is further expected to support growth of the global neurostimulation devices market.

The global neurostimulation devices market is segmented on the basis of product type, application, and region.

Global Neurostimulation Devices Market Segmentation:

By Product:

  • Spinal Cord Stimulator
  • Deep Brain Stimulator
  • Sacral Nerve Stimulator
  • Vagus Nerve Stimulator
  • Gastric Electric Stimulator

By Application:

  • Pain Management
  • Epilepsy
  • Essential Tremor
  • Urinary and Fecal Incontinence
  • Others (Depression, Dystonia, Gastroparesis, Parkinson’s Disease)

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On the basis of product type the global neurostimulation devices market is segmented into spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, gastric and electric stimulator. The spinal cord stimulator segment is expected to account for highest share in the global neurostimulation devices market in terms of revenue. This can be attributed to increasing number of patients suffering from spinal cord injuries through accidents, sport injuries, etc. The deep brain stimulator segment is projected to register highest CAGR over the forecast period.

On the basis of application, the global neurostimulation devices market is segmented into pain management, epilepsy, essential tremor, urinary and fecal incontinence, others (depression, dystonia, gastroparesis, parkinson’s disease). The pain management segment is expected to account for highest share in the global neurostimulation devices market in terms of revenue. This can be attributed to high prevalence of chronic pain disorders and high adoption of neurostimulation devices for pain management.

On the basis of region, the global neurostimulation devices market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America market accounted for largest market share in the global neurostimulation devices market. Market in Asia Pacific is expected to register highest CAGR in terms of revenue, owing to increasing government expenditure on healthcare sector and increasing patient pool suffering from neurological disorder in emerging economies in this region.

Key players operating in the global neurostimulation devices market include DePuy Synthes, Inc., Cyberonics, Inc., Nevro Corporation, St. Jude Medical, Inc., BioControl Medical Ltd., Synapse Biomedical, Inc., Neuropace, Inc., Boston Scientific Corporation, NDI Medical, LLC, and euroSigma, Inc.

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Last Updated: 11-Mar-2019