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Research Reports

Neurostimulation Devices Market Size To Reach USD 12.7 Billion By 2026 – Reports and Data

Published by news degree

Posted on August 5, 2021

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Increasing prevalence of chronic diseases, rising geriatric population, growing number of unmet medical needs, increasing evidences of neurological diseases, rising demand for minimally invasive surgeries are key factors contributing to high CAGR of Neurostimulation Devices during forecast period.

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. In line with this, market leaders, as well as emerging players, are developing mechanisms that can be used for neural activities modulation. For instance, Medtronic plc US-based medical device company launched EnterraII gastric neurostimulator, a programmable device that generates mild electrical pulses for gastric electrical stimulation to treat chronic, intractable nausea and vomiting due to gastroparesis.

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. Statistics from the same source indicate that Parkinson’s affects nearly 1 million Americans annually with at least a minimum of 60,000 new cases that are reported annually. However, associated adverse effects and availability of advanced alternative options are the major hindrances for Neurostimulation devices market growth during 2019-2026.

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Further key findings from the report suggest

Neurostimulation Devices market is growing at a CAGR of 13.6% in the Asia Pacific, followed by North America and Europe, with 12.3 % and 12.1% CAGR, respectively. Rising chronic disease prevalence across the globe is the prominent factor to accelerate the Neurostimulation Devices market growth during forecast period across all regions
As of 2018, Spinal Cord Stimulators is the dominating Neurostimulation Devices, which holds 35.5% of the global market. European regional market is the chief revenue-generating source for this product segment, followed by North America, Asia-Pacific, and other regions
Sacral Nerve Stimulators is expected to be the fastest-growing market segment during the forecast period 2019-2026, with a CAGR of 13.2%. However, associated stringent government regulation is a major challenge for the Neurostimulation Devices market growth of this market segment
Pain Management application type segment was valued at USD 2.03 billion in 2018 and is expected to reach USD 5.3 billion by 2026
The Asia Pacific is expected to account for 19.4% of the global Neurostimulation Devices market. Developing nations such as China and India are likely to observe high growth
Associated adverse effects related to Neurostimulation Devices and Availability of external substitutes is expected to hinder the market growth during the forecast period
Key participants in Neurostimulation Devices 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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Segments covered in the report

This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this report, Reports and Data has segmented the Neurostimulation Devices market on the basis of type, Product type, Application type, end use, and region:

Product Type (Revenue, USD Million; 2016–2026)

Spinal Cord Stimulators
Deep Brain Stimulators
Sacral Nerve Stimulators
Vagus Nerve Stimulators
Gastric Electric Stimulators

Application Type (Revenue, USD Million; 2016–2026)

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

Type (Revenue, USD Million; 2016–2026)

Implantable
External

End Use (Revenue, USD Million; 2016–2026)

Hospitals/Clinics
Cognitive Care Centers
Research Institutes
Others

Regional Outlook (Revenue in USD Million; 2016–2026)

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Spain
- Benelux
- Italy
- Rest of the Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Taiwan
- Australia
- Rest of Asia-Pacific
Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
- Israel
- Rest of MEA
Latin America
- Brazil
- Argentina
- Rest of Latin America

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Key Points Covered in the Report:

Key insights into the latest growth trends, developments, technological and product advancements, and research and development scenario
Analysis of micro- and macro-economic factors and regulatory framework
In-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends
SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the competitive landscape
Strategic recommendations to established market players and new entrants to overcome limitations and entry-level barriers in the global market landscape
Analysis of market drivers, restraints, challenges, limitations, threats, growth prospects and opportunities

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