Neurostimulation
Devices Market - Global Industry Insights, Trends, Outlook, and Opportunity
Analysis, 2018-2026
Neurostimulation therapy is used
for treatment and diagnosis of disorders of the nervous system. It reduces
chronic pain associated with conditions such as Parkinson’s disease, epilepsy,
nociceptive pain, neuropathic pain, and depression. It helps to improve quality
of life of patients suffering from paralysis, obesity, and severe loss of
sensory organs. A neurostimulation device is a key element used in neural
prosthetics for artificial vision, artificial limbs, and hearing aids. They
include implantable and non-implantable devices which deliver chemical,
electrical or other agents that reversibly modify nerve cell activity and brain
cells. They are surgically inserted into the patient’s organs and are operated
with the help of thin wires and leads.
Intracranial stimulation,
peripheral nerve stimulation (PNS), spinal cord stimulation (SCS), deep brain
stimulation, and motor cortex stimulation are among the most widely used neurostimulation
devices. As per data published by the European Brain Council, around 6.3
million people across the globe were suffering from Parkinson’s disease in
2015, and the number is expected to increase steadily in the near future.
Spinal cord stimulation is widely used as a treatment in failed back surgery,
pain caused by peripheral neuropathy, pain due to low supply of blood to the
limb, chest pain, urinary incontinence, and occipital neuralgia. Deep brain
stimulation is generally used to treat Parkinson-plus syndromes.
* The sample copy includes: Report Summary, Table of
Contents, Segmentation, Competitive Landscape, Report Structure, Methodology.
Request a sample copy
of this report: https://www.coherentmarketinsights.com/insight/request-sample/430
Global Neurostimulation Devices
Market – Dynamics
Factors such as increasing
prevalence of Parkinson’s disease is expected to fuel growth of
neurostimulation devices market. According to the Parkinson's Foundation,
around 1 million people in the U.S. will suffer from Parkinson's disease by
2020. It also reports that around 60,000 Americans are diagnosed with
Parkinson's disease each year. The Parkinson's Foundation also estimates that
1.2 million people in the U.S. are expected to develop Parkinson's disease by
2030.
According to the Global Burden of
Disease study in 2018 reports that
neurological disorders were leading source of disability around the
world, and the fastest growing of these disorders is Parkinson disease. The
study also states that from 1990 to 2015, the number of individuals with
Parkinson disease globally increased 118% to 6.2 million.
Product recalls are one of the
restraining factor of the neurostimulation market. For instance, in November
2014 U.S. FDA recalls Medtronics’ external neurostimulator due to enabled
cycling feature which allows stimulation output to be toggled on and off based
on the programmed settings and it fails to provide accurate information.
Browse Research
Report: https://www.coherentmarketinsights.com/ongoing-insight/neurostimulation-devices-market-430
Global Neurostimulation Devices Market
– Regional Insights
Europe is the second largest
market followed by the North America in the global neurostimulation devices
market owing to product launches by key players. For instance, in January 2017,
Abbott launched the Proclaim DRG neurostimulation System in Europe. The product
is designed to deliver dorsal root ganglion (DRG) stimulation to patients
suffering from chronic neuropathic pain.
Asia Pacific is expected to
witness significant growth over the forecast period owing to the rising prevalence
of neurological disorders. According to the Alzheimer's disease International,
in 2015, 23 million individuals in Asia Pacific had dementia, and the number is
expected to increase to 71 million by 2050.
Global Neurostimulation Devices
Market: Competitive Landscape
Key players operating in the
global neurostimulation devices market include Virtual Medical Centre Inc.,
Neurosigma, Boston Scientific Corporation, St. Jude Medical Inc. (Abbott), NDI
Medical, electroCore LLC, Electro Medics, Endostim Inc., and NeuroPace, Inc.
Buy-Now this research
report: https://www.coherentmarketinsights.com/insight/buy-now/430
About
Coherent Market Insights:
Coherent
Market Insights is a prominent market research and consulting firm offering
action-ready syndicated research reports, custom market analysis, consulting
services, and competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar
opportunity.
Contact
Us:
mailto:sales@coherentmarketinsights.com
U.S.
Office:
Name: Mr. Shah
Coherent
Market Insights 1001 4th Ave,
# 3200
Seattle, WA 98154, U.S.
US : +1-206-701-6702
UK : +44-020-8133-4027
JAPAN : +050-5539-1737
