Neurostimulation Devices Market (Forecast Period 2021-2028): The report provides a valuable source of insightful data for business strategists and competitive analysis of Neurostimulation Devices Market. The study covers important knowledge that makes the analysis document a handy resource for managers, analysts, business consultants and different key individuals get ready-to-access and self-analyzed study in conjunction with graphs and tables to assist perceive market trends, drivers and market challenges.It also highlights the restraints and opportunities expected to influence the market’s growth during the said period. The study provides a holistic perspective on the market’s growth throughout the above mentioned forecast period in terms of revenue(in US$ Mn) and Volume (Thousand Units), across different geographies.
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Major Players In This Market Are: Virtual Medical Centre Inc Neurosigma, Boston Scientific Corporation, St. Jude Medical Inc., NDI Medical, electroCore LLC, Electro Medics, Endostim Inc., and NeuroPace, Inc.
The growing prevalence of Parkinson’s disease is projected to propel the growth of the neurostimulation devices market. According to the Parkinson’s Foundation, around 1 million people in the U.S. will suffer from Parkinson’s disease by 2020. It also reports that around 60,000 Americans are diagnosed with Parkinson’s disease each year. The Parkinson’s Foundation also estimates that 1.2 million people in the U.S. are expected to develop Parkinson’s disease by 2030. According to the Global Burden of Disease study in 2018 reports that neurological disorders were the leading source of disability around the world, and the fastest-growing of these disorders is Parkinson’s disease.
- In March 2021, Abbott announced the U.S. launch of NeuroSphere
Virtual Clinic, a first-of-its-kind technology that allows patients to communicate with physicians, ensure proper settings and functionality, and receive new treatment settings remotely as needed
- In January 2021, FDA has granted breakthrough status to two medical devices aimed at Alzheimer’s disease patients.
- In June 2021, Mainstay Medical announced the commercial launch of its ReActiv8 implantable restorative neurostimulation system in the U.S.
North America is expected to hold the dominant position in the global neurostimulation devices market owing to the product launches by key players. For instance, in January 20201, Boston Scientific received FDA approval for its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System used to treat symptoms in patients with advanced Parkinson’s disease
Key players engaged in the global neurostimulation devices market include Virtual Medical Centre Inc., Neurosigma, Boston Scientific Corporation, St. Jude Medical Inc. (Abbott), NDI Medical, electroCore LLC, Electro Medics, Endostim Inc., and NeuroPace, Inc.
Neurostimulation is a new product that has been on the market for approximately five years. It is an exciting new product that can provide a large number of benefits for those with neurological disorders or other medical needs. As a result, Neurostimulation Devices sales are increasing daily and experts are continuously adding Neurostimulation Devices to their product line. This type of neurostimulation can provide significant benefits to patients with a wide range of neurological disorders. The neurostimulation devices include sales of medically or surgically installed neurostimulators and other relevant services. These include the recording, analysis, and interpretation of brain wave patterns for studying brain function. They are used for pre-injury treatments, such as stroke recovery or patients with severe psychiatric disorders.
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In this study, the years considered to estimate the market size of Neurostimulation Devices are as follows:
History Year: 2017-2020
Base Year: 2020
Estimated Year: 2021
Forecast Year 2021 to 2028
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Neurostimulation Devices Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of Neurostimulation Devices Market are also given.
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