Neurostimulation Devices is expected to cross US$5 Billion by 2021
The Global market for Neurostimulation Devices is expected to cross US$5 Billion by the year end of 2021.
Drivers & Restraints
Market growth can be attributed to factors such as rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by the players. In addition, rapid advances in the field of neurostimulation and development of minimally invasive techniques have greatly expanded the market. High cost of treatment and negative social perception is restraining the growth of neurostimulation devices Market.
Spinal cord stimulation segment dominated the neurostimulation devices market with more than XX% share in 2015. But its market share will dwindle in the forecasting period due to the highest growth rate of deep brain stimulation segment. It is expected that deep brain stimulation segment will grab nearly 20% market share by the year end of 2021.
North America is seen as the dominant player in the neurostimulation devices market followed by Europe, Asia–Pacific, and rest of the world (RoW) in 2015. In the coming years, the neurostimulation devices market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. These countries are expected to increase revenues for the manufacturers of devices involved in neurostimulation.
Chronic Pain is identified as the largest application segment of the neurostimulation devices market. Urinary and Fecal Incontinence(UFI) is the second leading segment for neurostimulation devices market. Refractory epilepsy stands at the third spot with more than XX% share in 2015. Parkinson’s disease holds the fourth highest share being followed by Gastroparesis. Essential Tremor and Dystonia are the other leading application segment for neurostimulation devices market.
Further, prudent analysis has been done on the competitor’s part, where three major players grab XX% of the global market by revenue. Medtronic, Boston Scientific, St Jude Medical, Liva Nova and Nevro are the key influencers with their products in the neurostimulation devices market. Merger & acquisitions, partnerships, collaborations and extending distribution networks are few important factors for their dominance.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry–validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, application, geographies, companies and market dynamics. The report concludes with the profiles of major players in the global neurostimulation market such as Medtronic, Boston Scientific, St Jude Medical, Liva Nova and Nevro. The major market players are evaluated on various parameters such as company overview, product portfolio, and sales analysis of neurostimulation devices segment from 2010 to 2021. The report also entails major drivers and barriers of neurostimulation devices market.
Neurostimulation Devices Market: Segmentation
Neurostimulation Devices Market is classified on the basis of device segment, application, company and geography.
Based on Segment, Neurostimulation Devices Market can be segmented as follows:
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Sacral Nerve Stimulation
- Vagus Nerve Stimulation
- Other Devices Segment
Based on Application, Neurostimulation Devices Market can be segmented as follows:
- Chronic Pain
- Parkinson’s Disease
- Urinary Fecal Incontinence
- Refractory Epilepsy
- Essential Tremor
- Treatment Resistant Depression(TRD)
- Obsessive Compulsive Disorder(OCD)
- Other Applications
Based on Geography, Neurostimulation Devices Market can be segmented as follows:
- North America
- Asia Pacific
- Latin America
- Rest of the World (ROW)
Based on Company, Neurostimulation Devices Market can be segmented as follows:
- Boston Scientific
- St Jude Medical
- Liva Nova(Cyberonics)