Neurostimulation Devices Market To Reach USD 12.7 Billion By 2026 | CAGR of 12.4% | Medtronic PLC, BioControl Medical, St. Jude Medical, etc
: New York, United States, 21-July-2020, (Via WiredRelease), (Reports and Data) – According to the current analysis of Reports and Data, the global Neurostimulation Devices market was valued at USD 4.98 Billion in 2018 and is expected to reach USD 12.7 Billion by the year 2026, at a CAGR of 12.4 %. Neurostimulation Devices – Neurostimulator or Neurostimulation are equipment that is used for neuromodulation. The process of making use of an implantable medical device to alter and modulate neural activities for therapeutic purposes is called neuromodulation. The recent emergence of Neurostimulation Devices as a neural activity modulator is a major disruptive finding in the healthcare sector.
Rising prevalence of chronic diseases and lifestyle health disorders, unmet needs of patients are pushing the technological development, significant focus of healthcare companies on development of novel mechanisms, upcoming patent expiry, availability of private as well public funds for research, and affirmative regulatory scenario all over the globe, are some of the notable factors boosting market growth in the industry. According to the American Academy of Neurology, stroke is listed as the third leading cause of death in U.S., with Alzheimer’s being ranked as the sixth leading cause of death..
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Medtronic PLC, BioControl Medical, St. Jude Medical, Spinal Modulation, Boston Scientific Corp., Synapse Biomedical Inc., Cochlear, Cyberonics, Inc., and Nevro Corp.
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For the purpose of this report, Reports and Data have segmented into the global Neurostimulation Devices market on the basis of type, propellants, application, and region:
Product Type (Revenue, USD Million; 2016–2026)
Spinal Cord StimulatorsDeep Brain StimulatorsSacral Nerve StimulatorsVagus Nerve StimulatorsGastric Electric Stimulators
Application Type (Revenue, USD Million; 2016–2026)
Pain ManagementEpilepsyEssential TremorUrinary and Fecal IncontinenceDepressionDystoniaGastroparesisParkinson’s DiseaseOthers
Type (Revenue, USD Million; 2016–2026)
End Use (Revenue, USD Million; 2016–2026)
Hospitals/ClinicsCognitive Care CentersResearch InstitutesOthers
Regional Outlook (Revenue, USD Million; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/neurostimulation-devices-market
Key aspects of the Neurostimulation Devices Market Report:
The report comprises of Neurostimulation Devices market overview, market share, demand and supply ratio, supply chain analysis, and import/export details.
The report explores different strategies and procedures undertaken by key market players that assist in making profitable decisions.
The report covers all the crucial information about the products and services of major competitors.
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