According to IMARC Group latest report titled” Neurostimulation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 6.3 Billion in 2020. The Global Neurostimulation Devices Market Size to grow at a CAGR of 11.8% during 2021-2026. Neurostimulation device refers to a programmable medical equipment that is designed to deliver electrical stimulation to a specific part of the human brain. Such devices are used in the treatment of numerous neurological conditions, such as immobility disorder, epilepsy, and Parkinson’s diseases. Neurostimulation devices are also used to stimulate, inhibit, modify, regulate, and alter the activities of the autonomous, central, and peripheral nervous system in the patients’ body.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Market Trends:
The high prevalence of chronic neurological disorders due to stress, anxiety, and depression, particularly among the millennial population, is one of the major factors augmenting the market growth. Furthermore, the increasing geriatric population who are more prone to neurological ailments is also driving the demand for neurostimulation devices. Moreover, the rising number of minimally invasive surgeries, along with increasing investments in the advancements of healthcare facilities, further propels the market growth. Extensive research and development (R&D) activities pertaining to the use of neurostimulation devices in treating asthma, obsessive-compulsive disorder, and interstitial cystitis, are expected to further bolster the market growth.
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Competitive Landscape with Key players:
The competitive landscape of the industry has also been examined with some of the key players.
- Biocontrol Medical
- Boston Scientific Corporation
- Cyberonics Inc.
- Medtronic Inc.
- Neuronetics Inc.
- Nevro Corporation
- Jude Medical Inc.
Global Neurostimulation Devices Market Segmentation:
Our report has categorized the market based on region, stimulation type, device type, application and end-use.
By Stimulation Type:
- Internal Neurostimulation
- External Neurostimulation
By Device Type:
- SCS (Spinal Cord Stimulation) Devices
- DBS (Deep Brain Stimulation) Devices
- SNS (Sacral Nerve Stimulation) Devices
- VNS (Vagus Nerve Stimulation) Devices
- GES (Gastric Electrical Stimulation) Devices
- Transcutaneous Electrical Nerve Stimulation Devices
- Transcranial Magnetic Stimulation Devices
- Others
By Application:
- Pain Management
- Epilepsy
- Essential Tremors
- Urinary and Fecal Incontinence
- Depression
- Dystonia
- Parkinson’s Disease
- Others
By End-User:
- Rehabilitation Centers
- Hospitals
- Medical Clinics
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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