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North America Neurostimulation Devices Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4828423
  • Report
  • Region: North America, United States
  • 69 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • Abbott (St. Jude Medical)
  • Cyberonics Inc.
  • Interpace Diagnostics LLC
  • Medtronic Plc
  • Neuronetics
  • NeuroPace Inc.
  • MORE
Market Overview

The North America neurostimulation devices market is estimated to show healthy growth owing to the growing burden of neurological diseases and the rising demand for minimally invasive technologies.

Neurological disorders are found to be increasingly recognized as one of the most prevalent disorders with a high burden to the patients, their families, and society. There has been a consistent increase in the overall neurological disorders patients approaching from multiple states and countries in the US and Canada, that promotes the demand for neurostimulation devices. The various types of neurological disorders include cerebrovascular disease, Alzheimer’s disease and others such as dementia, migraine, epilepsy, meningitis, Parkinson's disease, multiple sclerosis, and poliomyelitis, among other major diseases.

According to an article in Huffpost that was published in 2017, the neurological disorders are found to affect around 100 million North Americans, which means that about one-third of the total population suffer from neurological diseases, such as Alzheimer’s, multiple sclerosis, migraines, epilepsy, and spinal cord injury. Therefore, the rising prevalence of different types of neurological disorders, a recurring requirement of neuromodulation devices and therapies are attributing to the growth of the neurostimulation devices market.

Scope of the Report

As per the scope of the report, neurostimulation devices are most commonly used devices mainly for the treatment of neurologic disorders that aid in the delivery of electrical stimulation to intended parts of the patient’s brain, peripheral nervous system, and spinal cord. Moreover, over the past two decades, innovation in medical device technologies has been one of the primary drivers for the evolution of neurostimulation systems to grow at a rapid pace.

Key Market Trends

Pain Management is Estimated to be the Dominant by Application Segment Over the Forecast Period

Pain management has been estimated to dominate the overall market by application category, as there is a high prevalence of chronic pain disorders and the growing adoption rates of neurostimulation devices for pain management.

There is a high prevalence of chronic pain, disk surgery pain and leg pain seen among the individuals approaching hospitals and clinics, of North America and the growing demand for these devices on account of patients preferring shorter hospital stay. According to the Global Health Data Exchange, in 2017, the combined global incidence of neurological disorders and chronic pain was found to be 3.97 billion which includes Alzheimer's disease and other dementias, low back pain, stroke, traumatic brain injury, migraine, multiple sclerosis, spinal cord injury, and Parkinson's disease.

There are also an increasing number of new product launches and approvals of various devices to reduce chronic pain that will help in accelerating the market growth.

Competitive Landscape

Some of the major players of the neurostimulation devices market are Medtronic, Cyberonics, Boston Scientific Corporation, and Abbott (St. Jude Medical). The major companies present in the market are found focusing on product innovations, expansions, finding new markets or innovating their core competency to expand their individual market share.
Note: Product cover images may vary from those shown
2 of 4

FEATURED COMPANIES

  • Abbott (St. Jude Medical)
  • Cyberonics Inc.
  • Interpace Diagnostics LLC
  • Medtronic Plc
  • Neuronetics
  • NeuroPace Inc.
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Burden of Neurological Diseases
4.2.2 Rising Demand for Minimally Invasive Technologies
4.3 Market Restraints
4.3.1 High Cost of Neurological Disease Treatments
4.3.2 Shortage of Skilled Healthcare Professionals
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Device Type
5.1.1 Implantable Devices
5.1.1.1 Vagus Nerve Stimulators
5.1.1.2 Spinal Cord Stimulators
5.1.1.3 Deep Brain Stimulators
5.1.1.4 Gastric Electric Stimulators
5.1.1.5 Other Implantable Devices
5.1.2 External Devices
5.1.2.1 Transcranial Magnetic Stimulation (TMS)
5.1.2.2 Transcutaneous Electrical Nerve Stimulation (TENS)
5.1.2.3 Other External Devices
5.2 By Application
5.2.1 Parkinson's Disease
5.2.2 Epilepsy
5.2.3 Depression
5.2.4 Dystonia
5.2.5 Pain Management
5.2.6 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott (St. Jude Medical)
6.1.2 Boston Scientific Corporation
6.1.3 Cyberonics Inc.
6.1.4 Interpace Diagnostics LLC
6.1.5 Medtronic Plc
6.1.6 Neuronetics
6.1.7 NeuroPace Inc.
6.1.8 Nevro Corp.
6.1.9 Synapse Biomedical Inc.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Abbott (St. Jude Medical)
  • Boston Scientific Corporation
  • Cyberonics Inc.
  • Interpace Diagnostics LLC
  • Medtronic Plc
  • Neuronetics
  • NeuroPace Inc.
  • Nevro Corp.
  • Synapse Biomedical Inc.
Note: Product cover images may vary from those shown
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