Global Neurostimulator
Device Market is expected to grow at a significant CAGR in the
forthcoming years. Neurostimulation device is commonly used for diagnosis and
treatment disorders of autonomic nerves system and central nervous system.
Chronic diseases frequently need treatment with neurostimulation devices to
manage conditions like neuropathic pain, epilepsy, Parkinson’s disease and
depression.
Market driving factors
responsible for the growth of Neurostimulator device market includes rise in
cases of neurological incidences and significant occurrences of chronic pain
and bone ailment. Also, factors such as rise in geriatric population, growing
awareness on better neurological treatment and enhancement in functionality of
neurostimulation devices is equally expected to drive the market growth.
However, the associated side-effects and risks coupled with neurostimulation
therapy is likely to impede the market growth in the near future.
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Based on segmentation by
product, the Neurostimulator devices market include implantable devices and
external device. Implantable device is further categorized into cochlear
implants, deep brain stimulation, vagus nerve stimulation, sacral nerve
stimulation, gastric electrical stimulation and spinal cord stimulation. Based
on segmentation by application, the Neurostimulator device market includes
epilepsy, urinal and fecal incontinence and Parkinson’s disease.
On the basis on the end users/applications:-
• Hospital
• Scientific Research
• Other
Geographically,
Neurostimulator device market spans North America, Latin America, Europe,
Asia-Pacific, Middle-East and Africa. North America dominates the global market
with the growth attributing to rising prevalence of neurological disorders and
in addition, numerous government and private organizations are conducting
awareness campaigns on neurological disorders and health ailments. Europe
market is expanding due to rise in healthcare initiatives undertaken by various
public organizations to enhance healthcare sector in European regions. APAC
market also witnesses a higher CAGR growth owing to rise in cases of
neurological disorders such as osteoporosis and arthritis.
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The key players in the Neurostimulator device market include Boston
Scientific Corporation, St. Jude Medical, Inc., Cochlear, Ltd., Medtronic, Plc,
NDI Medical, LLC, MED-EL., Cyberonics, Inc., NeuroSigma, Inc., and NeuroPace
Inc.,
key Regions, with production, consumption, revenue (million USD),
market share and growth rate of Neurostimulator Device in these regions, from
2012 to 2022 (forecast), covering
• North America
• Europe
• China
• Japan
• Southeast Asia
• India
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