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Neurostimulation Devices Market By Type (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Gastric Electric Stimulators), By Therapeutic Areas (Pain Management, Epilepsy, Essential Tremors, Urinary And Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease) - Growth, Future Prospects & Competitive Analysis, 2016 - 2024

Neurostimulation is the process of agitating or modulating neural activities for therapeutic purposes. Neurostimulation devices are used for neuromodulation and function by either stimulating nerve impulses or inhibiting pain signals at specific sites such as the autonomic nervous system, peripheral nervous system, deep brain nuclei, or central nervous system.

Significant growth in the geriatric population base has triggered the incidence of age-related nervous conditions such as Alzheimer's disease and Parkinson's disease and has thereby presented an area of high unmet medical needs in neurological disease segments. Similar scenarios are also experienced in other conditions, such as chronic pain, migraine, epilepsy, and others. Going forward, it is expected that the growth of the neurostimulation devices market will be facilitated by the efficient harnessing of the untapped market opportunities in the Asia-Pacific and Latin American markets, furthering the evolution of neurostimulation treatments.

This report attempts to study the global neurostimulation devices market in terms of product types, therapeutic areas, and regional distribution. Based on product types, this report studies the individual markets for a spinal cord stimulator, a deep brain stimulator, a sacral nerve stimulator, a vagus nerve stimulator, and a gastric electric stimulator.

Whereas, in terms of therapeutic areas, the report studies the global neurostimulation devices market for pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, Parkinson's disease, and other therapeutic areas. Market size and forecasts for each mentioned segment are provided in this report for the period 2013–2024 (US$ Mn), along with respective CAGRs (value %) for the period2016–20244.

Geographically, the neurostimulation devices market is studied for the following regional markets:

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of LATAM
  • Middle East and Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East and Africa

The market size and respective forecasts for these regional and country-level markets are presented in this study for the period 2013–2024. Market growth rates for the forecast period 2016–2024 are also included in this report, considering 2015 as the base year. This study also includes cross-sectional market size and forecast for each regional market, thus considering product types and therapeutic areas.

Along with quantitative information, qualitative information sets and assessment tools are provided in this study for a better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges, and opportunities assists the readers in understanding the ongoing trends in the global neurostimulation devices market. Tools such as key player market positioning and an appealing investment proposition provide readers with insights into the competitive scenario of the global neurostimulation devices market. This report concludes with a company profiles section that highlights major information about the key players engaged in the development, manufacture, and sale of neurostimulation devices.

Based on the types of therapeutic areas where neurostimulation is significantly in demand, the global neurostimulation devices market is segmented as follows:

  • Pain Management
  • Epilepsy
  • Essential Tremor
  • Urinary and femoral incontinence
  • Depression
  • Dystonia
  • Gastroparesis
  • Parkinson's Disease
  • Others

Pain management is the mainstay of neurostimulation applications; the highest prevalence of chronic pain, surgical pain, and trauma-related pain are the major therapeutic areas where neurostimulation devices are extensively used as adjuncts to conventional medication administration.

In addition, the market size of neurostimulation devices for treating Parkinson's disease is expected to progress at an impressive rate due to the large geriatric patient pool and the proven efficiency of neurostimulation devices in treating neurological disorders. Other conditions, such as migraine and epilepsy, are observed to have high unmet needs in terms of efficient treatment. Such disparities in disease prevalence and treatment efficacy are essentially profitable market opportunities for the neurostimulation devices market.

Based on the product types, the global neurostimulation devices market is segmented as follows:

  • Stimulator of the Spinal Cord
  • deep brain stimulator
  • sacral nerve stimulator
  • Vagus Nerve Stimulator
  • gastric electric stimulator

Spinal cord stimulation currently dominates the overall market in terms of revenue share, and it is anticipated that the segment will retain its dominance through the forecast period. The popularity of spinal cord stimulators is largely due to their larger application and patient base, as well as their extensive market penetration.

The introduction of technologically advanced devices in this segment will further assist in market sustenance. Some of the recent technological advancements in this space are MRI-safe devices, tripolar leads, etc. However, there is a growing demand for sacral nerve stimulation devices and deep brain stimulators. Based on the same, it is anticipated that the revenue share of sacral nerve stimulators and deep brain stimulators will augment through the forecast period. In addition, the demand for gastric electric stimulators is also expected to grow further due to their expanding application areas, such as their promising role in obesity control.

For this study, the global market for neurostimulation devices is divided into the following groups:

  • North America (U.S., Canada)
  • Europe (U.K., Germany, rest of Europe)
  • Asia Pacific (Japan, China, and the Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and the Rest of Latin America)
  • Saudi Arabia, South Africa, and the rest of the Middle East and Africa

North America accounted for the largest revenue share in the global neurostimulation devices market. However, the region is expected to lose its market share to rapid developments in European and Asia-Pacific markets and stringent regulatory policies in the U.S. and yet retain its dominance during the forecast period.

In addition, the presence of large unmet needs in Asia and Latin America will make the manufacturers shift their focus from North America and Western Europe and allow the fastest market growth rates in these regions. Improving disposable incomes among the general population and raising awareness about the availability of the latest treatments for neurodegenerative diseases are anticipated to be the chief environmental factors prevalent in the region. The presence of a sizable patient population base will also drive market growth in the Asia Pacific. 

Frequently Asked Questions:

The market for Neurostimulation Devices Market is expected to reach US$ 17,017.1 Mn By 2024.

The Neurostimulation Devices Market is expected to see significant CAGR growth over the coming years, at 13.0%.

The report is forecasted from 2016-2024.

The base year of this report is 2015.

St.Jude Medica, Boston Scientific Corporation, Codman & Shurtleff, Inc., Neuronetics, Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2017
Category:  Medical Devices
Report ID:   58336
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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