The global Neurostimulation Devices market is estimated to grow at 10.6% CAGR during the forecast period (2022-2027).
Technological advancements and increased demand for improved neurostimulation devices to better patient outcomes will drive market expansion. The increased prevalence of a variety of health conditions such as epilepsy, depression, Parkinson's disease, migraine, and others is fueling demand for various neurostimulation devices. Furthermore, a favorable regulatory environment for medical modalities that provide greater patient care and management will aid market growth. Neurostimulation devices are predicted to bring treatment to an unprecedented number of individuals suffering from serious neurologic and psychiatric problems as technology advances. The sector is expected to increase due to the availability of implantable neurostimulation devices that target specific cranial, spinal, and peripheral nerve regions to regulate neuronal activity and provide therapeutic effects for a variety of neurological illnesses.
The report aspects discussed the profile of the top manufacturers of the global Neurostimulation Devices market. These aspects include financial status of major companies, trending advancements and entire market scenario. Growth of the report have examined Neurostimulation Devices Market production, demand and growth potential, geographic analysis, as well as current market developments in various regions and countries.
ABBOTT TO LAUNCH THE NEUROSPHERE™ MYPATH™ DIGITAL HEALTH APP DESIGNED TO TRACK AND REPORT PAIN RELIEF IN CHRONIC PAIN PATIENTS WITH PHYSICIANS PRIOR TO DEVICE IMPLANT-- Top of Form
Abbott (NYSE: ABT) today announced the upcoming launch of NeuroSphere™ myPath™, a digital health app designed to track and report on patient perceived pain relief and general well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy. During the device trial period required before the permanent implant, the app allows patients to record their outcomes on pain and well-being while trialing their neurostimulation therapy.
June 10, 2021: Medtronic Announces FDA Approval of its Next Generation Recharge-Free Spinal Cord Stimulation Platform--
Medtronic plc (NYSE: MDT), the global leader in medical technology, today announced it has received U.S. Food and Drug Administration (FDA) approval for Vanta™, a high performance recharge-free implantable neurostimulator (INS) with a device life that can be optimized up to 11 years. At comparable settings, the Vanta neurostimulator offers nearly twice the device life than competitive primary cell devices.1,2 It also utilizes Medtronic's proprietary AdaptiveStim™ technology for personalized pain relief that adapts to the patient's movement or body position using a built-in accelerometer.
Market is segmented based on the type, applications, companies and regions.
By Type, it is segmented into
By Application, it is segmented into
The market for neurostimulation devices in North America was worth more than USD 3.8 billion in 2020, thanks to the rising frequency of neurological illnesses in the region. According to a report from the Centers for Disease Control and Prevention (CDC), the burden of Alzheimer's disease and associated dementias (ADRD) in the United States will double by 2060. The growth in ADRD cases is due to a growing geriatric population and an unhealthy lifestyle. Increasing R&D and the adoption of minimally invasive procedures, as well as the creation of technologically advanced neurostimulation devices, are all elements that are promoting regional growth.
The Neurostimulation Devices Market describes the factors driving the global growth opportunities in upcoming years and highlights market channels. In addition, the report analyzes market size and share, trends, by geographic region, end-use type and segment. It focuses extensively on revealing a detailed regional analysis. The Global Neurostimulation Devices Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 10.6% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Abbott, Boston Scientific Corporation, IntraPace, Laborie, LivaNova, Medtronic, Neuronetics, SPR Therapeutics, Cyberonics, ElectroCore Inc., Aleva Neurotherapeutics SA, Synapse Biomedical Inc., MicroTransponder, RS Medical and BioControl Medical |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 119 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Neurostimulation Devices Market?
The Neurostimulation Devices Market is growing at a CAGR of 10.6% over the next 5 years.
Who are the key players in Neurostimulation Devices Market?
Abbott, Boston Scientific Corporation, IntraPace, Laborie, LivaNova, Medtronic, Neuronetics, SPR Therapeutics, Cyberonics, ElectroCore Inc., Aleva Neurotherapeutics SA, Synapse Biomedical Inc., MicroTransponder, RS Medical and BioControl Medical
What are the significant types of Neurostimulation Devices Market?
Spinal Cord Stimulation (SCS), Gastric Electric Stimulation (GES), Deep Brain Stimulation (DBS), Sacral Nerve Stimulation (SNS), Vagus Nerve Stimulation (VNS), Other
What are the major end-use applications of Neurostimulation Devices Market?
Pain Management, Parkinson’s Disease, Urinary and Fecal Incontinence, Epilepsy, Gastroparesis, Other
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SECONDARY RESEARCH
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PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
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