The Asia Pacific electrical stimulation devices market is expected to reach US$ 2,506.0 million by 2027 from US$ 1,195.6 million in 2019. The market is estimated to grow at a CAGR of 9.9% from 2020 to 2027.
Factors such as increasing adoption of electrical stimulation devices, rising prevalence of neurological conditions, growing awareness about benefits provided by electrical stimulation devices, and rising number of product introductions are anticipated to boost the growth of the market. On the other hand, higher cost of implants is likely to restrain the market growth to a certain extent.
The prevalence of neurological conditions is rising in several Asian countries. For instance, according to a study published by the Official Journal of the International League Against Epilepsy in 2018, an estimated 23 million people in Asia were suffering from epilepsy. Further, geriatric population is at high risk of developing chronic pain and other associated diseases. Such conditions are likely to drive the adoption of electrical stimulation devices in Asia Pacific.
Based on device type, the Asia Pacific electrical stimulation devices market is segmented into spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation (VNS) devices, sacral nerve stimulation (SNS) devices, gastric electrical stimulation (GES) devices, transcutaneous electrical nerve stimulation (TENS) devices, and other devices. The spinal cord stimulation devices segment held a larger share of the market in 2019; however, the sacral nerve stimulation devices segment is expected to register a higher CAGR in the market during the forecast period.
A few major primary and secondary sources referred to while preparing the report on the Asia Pacific electrical stimulation devices market are the World Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare, among others.
Factors such as increasing adoption of electrical stimulation devices, rising prevalence of neurological conditions, growing awareness about benefits provided by electrical stimulation devices, and rising number of product introductions are anticipated to boost the growth of the market. On the other hand, higher cost of implants is likely to restrain the market growth to a certain extent.
The prevalence of neurological conditions is rising in several Asian countries. For instance, according to a study published by the Official Journal of the International League Against Epilepsy in 2018, an estimated 23 million people in Asia were suffering from epilepsy. Further, geriatric population is at high risk of developing chronic pain and other associated diseases. Such conditions are likely to drive the adoption of electrical stimulation devices in Asia Pacific.
Based on device type, the Asia Pacific electrical stimulation devices market is segmented into spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation (VNS) devices, sacral nerve stimulation (SNS) devices, gastric electrical stimulation (GES) devices, transcutaneous electrical nerve stimulation (TENS) devices, and other devices. The spinal cord stimulation devices segment held a larger share of the market in 2019; however, the sacral nerve stimulation devices segment is expected to register a higher CAGR in the market during the forecast period.
A few major primary and secondary sources referred to while preparing the report on the Asia Pacific electrical stimulation devices market are the World Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare, among others.
Table of Contents
1. Introduction
3. Research Methodology
4. Electrical Stimulation Devices- Market Landscape
5. Asia Pacific Electrical Stimulation Devices Market - Industry Dynamics
6. Electrical Stimulation Devices Market - Regional Analysis
7. Electrical Stimulation Devices Market Analysis - By Device Type
8. Electrical Stimulation Devices Market - By Application
9. Electrical Stimulation Devices Market - Regional Analysis
10. Impact of COVID-19 Pandemic on Asia Pacific Electrical Stimulation Devices Market
11. Company Profiles
12. Appendix
Companies Mentioned
A selection of companies mentioned in this report includes:
- Boston Scientific Corporation
- Medtronic
- Abbott
- BTL
- DJO Global
