Neurostimulation Devices Market: Growing at a CAGR of 12.0% : Will Hit 21,326.37 Million by 2030 : Says Emergen Research
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Rising geriatric population and increasing demand for minimally invasive surgeries are some of the key factors driving market revenue growth
VANCOUVER, B.C, CANADA, April 17, 2023 /EINPresswire.com/ -- The global neurostimulation devices market size was USD 7,830.33 Million in 2021 and is expected to register a revenue CAGR of 12.0% during the forecast period, according to latest analysis by Emergen Research. One of the main drivers influencing market revenue growth is the rise in neurological and lifestyle-related disorders, as well as the world's rapidly expanding geriatric population. In addition, the market's revenue growth is being fueled by patients' increasing demand for Minimally Invasive (MI) procedures.
In the case of Deep Brain Stimulation (DBS), a MI treatment, electrical signals are transmitted to a particular area in the brain circuits using neurostimulation devices. Degenerative illnesses like Parkinson's and Alzheimer's are helped by this. The market's prospects are also being boosted by technological developments, such as the creation of tools that electrically stimulate the nervous system to restore vision and regain post-paralysis muscular movements. Other factors influencing market growth, however, include the sizeable expansion of the medical sector, an increase in healthcare spending, and major Research & Development (R&D) initiatives.
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The report offers a complete analysis of the global Neurostimulation Devices market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. The report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.
Major companies in the market report include Abbott Laboratories, Aleva Neurotherapeutics SA, Boston Scientific Corporation, Medtronic plc, Nevro Corporation, NeuroPace Inc., Sceneray Corporation, Limited, Renishaw Plc., Beijing PINS Medical Co. Ltd, NeuroSigma Inc., and others.
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
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Some Key Highlights From the Report:
Due to rising instances of urge incontinence, such as urinary tract infections (UTI), and an increase in the number of patients with overactive bladders (OAB) and faecal incontinence, the sacral nerve stimulator market is anticipated to grow at a notably rapid CAGR during the forecast period. By implanting a device called sacral nerve stimulation (SNS) that sends carefully timed electrical impulses to the sacral nerves that alter neurological pathways, bladder functions can be controlled. Patients with faecal and urinary dysfunction can benefit from this safe and effective medication.
Over the course of the projected period, the epilepsy segment is anticipated to post a relatively strong rate of revenue growth. People of all ages are susceptible to the chronic, non-communicable brain disorder known as epilepsy. Epilepsy is one of the most prevalent neurological illnesses worldwide, affecting around 50 million individuals worldwide, according to data from the World Health Organisation (WHO).
Due to the rising frequency of neurological illnesses including Parkinson's disease and epilepsy, the North American market for neurostimulation devices is anticipated to have a very steady rate of revenue growth throughout the course of the projected period. The Parkinson's Foundation estimates that 60,000 Americans are given the diagnosis of Parkinson's disease each year.
The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented the global neurostimulation devices based on product type, application, and region:
Product Type Outlook (Revenue, USD Million; 2019–2030)
Sacral Nerve Stimulator
Spinal Cord Stimulator
Vagus Nerve Stimulator
Gastric Electric Stimulators
Deep Brain Stimulators
Application Outlook (Revenue, USD Million; 2019–2030)
Epilepsy
Depression
Dystonia
Gastroparesis
Pain management
Urinary and Fecal Incontinence
Essential Tremor
Parkinson’s Disease
Others
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Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type & applications
Chapter 9: Current and Future Trends
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