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Neurostimulation Devices Market by Device Type Application: Global Opportunity Analysis and Industry Forecast, 2019-2026

  • ID: 5125470
  • Report
  • May 2020
  • Region: Global
  • 176 pages
  • Allied Analytics LLP

FEATURED COMPANIES

  • Abbott Laboratories
  • ElectroCore Inc.
  • EndoStim Inc.
  • Medtronic plc
  • Neuronetics Inc.
  • NeuroPace Inc.
The global neurostimulation devices market was valued at $4,387.5 million in 2018 and is projected to reach $11,257.4 million by 2026, registering a CAGR of 12.5% from 2019 to 2026. Neurostimulation is an electrical process of stimulating, inhibiting, modifying, regulating, and altering the activity in the central, autonomous, or peripheral nervous system in the human body. Neurostimulation devices send electrical impulse near to the spine region wherein these signals block the pain signals from reaching the brain. These devices deliver electrical stimulation to the patient’s brain, spinal cord, and peripheral nervous system. Neurostimulation devices are particularly used for the treatment of neurological disorders such as epilepsy, chronic pain, Parkinson’s disease, depression, and other diseases. Advancements in the neurological technologies is delivering relief to the patients affected by psychiatric and neurological disorders.



According to the data published by WHO, there are around 50 million cases of dementia across the globe among which 60–70% are Alzheimer’s and 10 million are added every year. Dementia is the fifth leading cause of death worldwide. Furthermore, the incidence rate for Parkinson’s disease is 4.5–19 per 100,000 population every year.

Rise in prevalence of lifestyle diseases such as depression and chronic pain, an increase in the number of neurological disorders, and investment for neurological R&D are some of the factors that drive the growth of the global neurostimulation devices market. Moreover, rise in demand for minimal invasive surgery, adoption of technologically advanced products, and A surge in aging population also propel the growth of the market as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. The major barriers for the growth of the neurostimulation devices market are side effects such as allergic reaction and tingling or prickling of the skin due to implantation of neurostimulation device into the body and an increase in device cost. However, the availability of other treatment options such as drug therapies and surgeries restrict the growth of the market.

The neurostimulation devices market is classified on the basis of device type, application, and region. Based on device type, the neurostimulation devices market is divided into spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and others. On the basis of application, the market is classified into pain management, hearing loss, urinary incontinence, Parkinson's disease, epilepsy, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major players operating in the neurostimulation devices market include Abbott Laboratories, Aleva neurotherapeutics SA, Boston scientific corporation, ElectroCore Inc., EndoStim Inc., Medtronic plc, NeuroPace Inc., Nevro corporation, Neuronetics Inc., NeuroSigma, Inc., and Synapse Biomedical Inc.

KEY BENEFITS FOR STAKEHOLDERS
  • The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers a quantitative analysis from 2018 to 2026, which is expected to enable the stakeholders to capitalize on prevailing market opportunities.
  • Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
  • The key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.
KEY MARKET SEGMENTS

BY Device Type
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Nerve Stimulators
  • Vagus Nerve Stimulators
  • Others
BY Application
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Nerve Stimulators
  • Vagus Nerve Stimulators
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • Spain
  • Italy
  • UK
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • India
  • China
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA
LIST OF KEY PLAYERS PROFILED IN THE REPORT
  • Abbott Laboratories
  • Aleva neurotherapeutics SA
  • Boston scientific corporation
  • ElectroCore Inc.
  • EndoStim Inc.
  • Medtronic plc
  • NeuroPace Inc.
  • Nevro corporation
  • Neuronetics Inc.
  • NeuroSigma, Inc.
  • Synapse Biomedical Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • ElectroCore Inc.
  • EndoStim Inc.
  • Medtronic plc
  • Neuronetics Inc.
  • NeuroPace Inc.
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

Chapter 2: Executive Summary
2.1. Key Findings of the Study
2.2. CXO Perspective

Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.2.2. Top Winning Strategies
3.3. Market Dynamics
3.3.1. Drivers
3.3.1.1. Rise in Prevalence of Neurological Disorders
3.3.1.2. Increase in Investments in R&D for Neurological Disorders
3.3.2. Restraints
3.3.2.1. Adverse Effects and Risks Associated With Neurostimulation Devices
3.3.3. Opportunities
3.3.3.1. Use of Neurostimulators for New Indications

Chapter 4: Neurostimulation Devices Market, by Device Type
4.1. Overview
4.1.1. Market Size and Forecast
4.2. Spinal Cord Stimulators
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, by Region
4.2.3. Market Analysis, by Country
4.3. Deep Brain Stimulators
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, by Region
4.3.3. Market Analysis, by Country
4.4. Sacral Nerve Stimulators
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, by Region
4.4.3. Market Analysis, by Country
4.5. Vagus Nerve Stimulators
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast, by Region
4.5.3. Market Analysis, by Country
4.6. Others
4.6.1. Key Market Trends, Growth Factors, and Opportunities
4.6.2. Market Size and Forecast, by Region
4.6.3. Market Analysis, by Country

Chapter 5: Neurostimulation Devices Market, by Application
5.1. Overview
5.1.1. Market Size and Forecast
5.2. Pain Management
5.2.1. Market Size and Forecast, by Region
5.2.2. Market Analysis, by Country
5.3. Hearing Loss
5.3.1. Market Size and Forecast, by Region
5.3.2. Market Analysis, by Country
5.4. Urinary Incontinence
5.4.1. Market Size and Forecast, by Region
5.4.2. Market Analysis, by Country
5.5. Parkinson's Disease
5.5.1. Market Size and Forecast, by Region
5.5.2. Market Analysis, by Country
5.6. Epilepsy
5.6.1. Market Size and Forecast, by Region
5.6.2. Market Analysis, by Country
5.7. Others
5.7.1. Market Size and Forecast, by Region
5.7.2. Market Analysis, by Country

Chapter 6: Global Neurostimulation Devices Market, by Region
6.1. Overview
6.1.1. Market Size and Forecast
6.2. North America
6.2.1. Key Market Trends and Opportunities
6.2.2. Market Size and Forecast, by Device Type
6.2.3. Market Size and Forecast, by Application
6.2.4. Market Size and Forecast, by Country
6.2.4.1. U. S. Market Size and Forecast, by Device Type
6.2.4.2. U. S. Market Size and Forecast, by Application
6.2.4.3. Canada Market Size and Forecast, by Device Type
6.2.4.4. Canada Market Size and Forecast, by Application
6.2.4.5. Mexico Market Size and Forecast, by Device Type
6.2.4.6. Mexico Market Size and Forecast, by Application
6.3. Europe
6.3.1. Key Market Trends and Opportunities
6.3.2. Market Size and Forecast, by Device Type
6.3.3. Market Size and Forecast, by Application
6.3.4. Market Size and Forecast, by Country
6.3.4.1. Germany Market Size and Forecast, by Device Type
6.3.4.2. Germany Market Size and Forecast, by Application
6.3.4.3. France Market Size and Forecast, by Device Type
6.3.4.4. France Market Size and Forecast, by Application
6.3.4.5. UK Market Size and Forecast, by Device Type
6.3.4.6. UK Market Size and Forecast, by Application
6.3.4.7. Italy Market Size and Forecast, by Device Type
6.3.4.8. Italy Market Size and Forecast, by Application
6.3.4.10. Rest of Europe Market Size and Forecast, by Device Type
6.3.4.11. Rest of Europe Market Size and Forecast, by Application
6.4. Asia-Pacific
6.4.1. Key Market Trends and Opportunities
6.4.2. Market Size and Forecast, by Device Type
6.4.3. Market Size and Forecast, by Application
6.4.4. Market Size and Forecast, by Country
6.4.4.1. Japan Market Size and Forecast, by Device Type
6.4.4.2. Japan Market Size and Forecast, by Application
6.4.4.3. China Market Size and Forecast, by Device Type
6.4.4.4. China Market Size and Forecast, by Application
6.4.4.5. India Market Size and Forecast, by Device Type
6.4.4.6. India Market Size and Forecast, by Application
6.4.4.7. Australia Market Size and Forecast, by Device Type
6.4.4.8. Australia Market Size and Forecast, by Application
6.4.4.9. Rest of Asia-Pacific Market Size and Forecast, by Device Type
6.4.4.10. Rest of Asia-Pacific Market Size and Forecast, by Application
6.5. LAMEA
6.5.1. Key Market Trends and Opportunities
6.5.2. Market Size and Forecast, by Device Type
6.5.3. Market Size and Forecast, by Application
6.5.4. Market Size and Forecast, by Country
6.5.4.1. Brazil Market Size and Forecast, by Device Type
6.5.4.2. Brazil Market Size and Forecast, by Application
6.5.4.3. Saudi Market Size and Forecast, by Device Type
6.5.4.4. Saudi Market Size and Forecast, by Application
6.5.4.5. South Africa Market Size and Forecast, by Device Type
6.5.4.6. South Africa Market Size and Forecast, by Application
6.5.4.7. Rest of LAMEA Market Size and Forecast, by Device Type
6.5.4.8. Rest of LAMEA Market Size and Forecast, by Application

Chapter 7: Company Profiles
7.1. Abbott Laboratories
7.1.1. Company Overview
7.1.2. Company Snapshot
7.1.3. Operating Business Segments
7.1.4. Product Portfolio
7.1.5. Business Performance
7.1.6. Key Strategic Moves and Developments
7.2. Aleva Neurotherapeutics Sa
7.2.1. Company Overview
7.2.2. Company Snapshot
7.2.3. Operating Business Segments
7.2.4. Product Portfolio
7.2.5. Key Strategic Moves and Developments
7.3. Boston Scientific Corporation
7.3.1. Company Overview
7.3.2. Company Snapshot
7.3.3. Operating Business Segments
7.3.4. Product Portfolio
7.3.5. Business Performance
7.3.6. Key Strategic Moves and Developments
7.4. Electrocore Inc.
7.4.1. Company Overview
7.4.2. Company Snapshot
7.4.3. Operating Business Segments
7.4.4. Product Portfolio
7.4.5. Business Performance
7.5. Endostim Inc.
7.5.1. Company Overview
7.5.2. Operating Business Segments
7.5.3. Product Portfolio
7.6. Medtronic plc
7.6.1. Company Overview
7.6.2. Company Snapshot
7.6.3. Operating Business Segments
7.6.4. Product Portfolio
7.6.5. Business Performance
Source: Corporate Publications and Amr Analysis
7.7. Neuropace Inc.
7.7.1. Company Overview
7.7.2. Company Snapshot
7.7.3. Operating Business Segments
7.7.4. Product Portfolio
7.7.5. Key Strategic Moves and Developments
7.8. Nevro Corporation
7.8.1. Company Overview
7.8.2. Operating Business Segment
7.8.3. Product Portfolio
7.8.4. Business Performances
7.8.5. Key Strategic Moves and Developments
7.9. Neuronetics Inc.
7.9.1. Company Overview
7.9.2. Neuronetics: Company Snapshot
7.9.3. Operating Business Segments
7.9.4. Product Portfolio
7.9.5. Business Performance
7.9.6. Key Strategic Moves and Developments
7.10. Neurosigma Inc.
7.10.1. Company Overview
7.10.2. Company Snapshot
7.10.3. Operating Business Segments
7.10.4. Product Portfolio
7.10.5. Key Strategic Moves and Developments
7.11. Synapse Biomedical Inc.
7.11.1. Company Overview
7.11.2. Company Snapshot
7.11.3. Operating Business Segments
7.11.4. Product Portfolio
7.11.5. Key Strategic Moves and Developments
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • ElectroCore Inc.
  • EndoStim Inc.
  • Medtronic plc
  • Neuronetics Inc.
  • NeuroPace Inc.
According to the report titled, 'Neurostimulation devices Market by device type, application and region: Opportunity Analysis and Industry Forecast, 2019-2026' the global neurostimulation devices market size is expected to reach $11.2 billion by 2026, registering a CAGR of 12.5% from 2019 to 2026, in terms of value. Neurostimulation functions by altering the pain signals that travel to the brain. Neurostimulation are programmable and implantable devices that deliver electrical stimulation to parts of brain, peripheral nervous system, and spinal cord.. These devices are used to treat various medical conditions such as epilepsy, movement disorders, Parkinson's disease, and chronic pain.

Rise in prevalence of lifestyle diseases such as depression and chronic pain, an increase in number of neurological disorders, and investment for neurological R&D are some of the factors that drive the growth of the global neurostimulation devices market. Moreover, rise in demand for minimal invasive surgery, adoption of technologically advanced products, and surge in aging population further propel the growth of the market as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain. The major barriers for the growth of the neurostimulation devices market are side effects such as allergic reaction and tingling or prickling of the skin due to implantation of neurostimulation device into the body and increase in device cost. However, the availability of other treatment options such as drug therapies and surgeries restrict the growth of the market.

The neurostimulation devices market is classified on the basis of device type, application, and region. Based on device type, the market is divided into spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and others. The spinal cord stimulators segment is the most lucrative segment in the global neurostimulation market. This is attributed to increase in usage of spinal cord stimulators for treating neuropathic pain and spinal injuries. In addition, upsurge in minimally invasive procedures and increase in healthcare spending further drive the neurostimulation devices market growth for spinal cord stimulators across the globe. The spinal cord stimulator segment is expected to grow at a significant CAGR, owing to usage of DBS in various diseases such as Parkinson's disease, obsessive-compulsive disorders, idiopathic dystonia, & essential tremor and growth in number of product approvals. According to global neurostimulation devices market analysis, the application segment is classified into pain management, hearing loss, urinary incontinence, Parkinson's disease, epilepsy, and others. The pain management segment is the highest contributor to the neurostimulation devices market in 2018, due to increase in usage of neurostimulation devices for treating chronic and acute pain. The hearing loss segment is anticipated to grow at a considerable CAGR, owing to rise in incidences of hearing loss across the globe. Approximately 48 million people are affected in America and nearly 360 million people globally, according to the data published by Hearing Health Foundation in 2020. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA. The North America market accounted for the major share in the global neurostimulation devices market in 2018. Development of innovative neurostimulators, approvals by health authorities for novel techniques in neurostimulators, and mergers & acquisitions to acquire novel technologies & products are significant market trends in North America. Rise in prevalence of neurological disorders, an increase in geriatric population, favorable reimbursement rates, and introduction of innovative technology are expected to drive of the market in this region.

In addition, research and development activities to develop new technologies to manage pain and neurological disorders such as Parkinson’s disease, dystonia, and epilepsy are expected to increase the treatment options for patients and surgeons in the neurostimulation market. The market is expected to grow at a steady rate in future. The Asia-Pacific region offers lucrative opportunities to the players in the neurostimulator market, as it is anticipated to be the fastest growing market. Government and private initiatives to increase awareness regarding mental health and increase in incidence of neurological disorders drive market growth. Factors such as improving healthcare infrastructure, rising number of healthcare reforms, and increasing healthcare expenditures in the emerging markets such as India and China to overcome the unmet medical needs in these regions boost the demand for neurostimulators.

Key Market Benefits

North America occupied 40.0% share of the global neurostimulation devices market in 2018.
Asia-Pacific is anticipated to grow with the highest CAGR throughout the forecast period.
The spinal cord stimulators segment accounted for 49.9% share of the market in 2018.
The pain management segment is anticipated to grow at the 14.5% during the analysis period.

Comprehensive competitive analysis and profiles of major market players such as Abbott Laboratories, Aleva neurotherapeutics SA, Boston scientific corporation, ElectroCore Inc., EndoStim Inc., Medtronic plc, NeuroPace Inc., Nevro Corporation, Neuronetics Inc., NeuroSigma, Inc., and Synapse Biomedical Inc.
Note: Product cover images may vary from those shown
  • Abbott Laboratories
  • Aleva neurotherapeutics SA
  • Boston scientific corporation
  • ElectroCore Inc.
  • EndoStim Inc.
  • Medtronic plc
  • NeuroPace Inc.
  • Nevro Corporation
  • Neuronetics Inc.
  • NeuroSigma Inc.
  • Synapse Biomedical Inc
Note: Product cover images may vary from those shown

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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