Dublin, Aug. 22, 2022 (GLOBE NEWSWIRE) -- The "Global Neurostimulation Devices Market, by Device Type, by Application, by End-user, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global neurostimulation devices market held a market value of USD 7,622.7 Million in 2021 and is estimated to reach USD 17,367.0 Million by the year 2030. The market is anticipated to register a CAGR of 9.7% during the forecast period.
A neurostimulation device comprises a neurostimulator which generates the electrical impulses, leads constituting insulated medical wires to deliver electrical pulses, and a patient's handheld device. The ideal calibration of all components leads to an effective patient wellbeing response to the neuro disorder.
The increasing neurological diseases across the globe, rising clinical trials for neurostimulation devices, investments by companies, are driving factor for the growth of the neurostimulation devices market. in addition to that, the advancements in technologies, including silicon micro-fabrication and wireless energy transfer, propel the market growth.
On the other hand, the high cost to end user is a restrictive factor for neurostimulation devices market. Also, according Sandvik Material Technology survey, regarding the challenges during the medical device design phase, 20% of respondents stated that a common issue was to meet deadlines due to lack of resources.in light of this, the expertise in metal alloy materials and insulation coating is vital for engineering a medical-wire component customised for pain management devices. Thus, such factors hinder the market growth.
Growth Influencers:
Increasing number of incidences related to Neurological disorders
The rising number of cases of neurological diseases demand for top-notch neurostimulation devices drive the market growth. For instance, according to the statistics published by the American Academy of Neurology, Alzheimer has been ranked as the sixth-leading cause of death, and Parkinson's affects approximate 1 Million Americans with at least 60,000 new cases annually. Overall, such increase in incidence rate is projected to drive the market in the coming years.
Investment for Neurological R&D
The prominent players are investing in clinical trials to sustain their products in the industry. For instance, Boston Scientific Corporation is running a clinical trial study investigating patient satisfaction with treatment using a new implantable neurostimulation system for chronic pain of the trunk and/or limbs. Such a factor aids significantly in increasing the growth rate of the neurostimulation devices market
Competitive Landscape
Key players operating in the global neurostimulation devices market include Abbott Laboratories, Advanced Bionics, B. Braun Melsungen AG, Boston Scientific Corporation, BrainsWay, Cochlear, CONMED Corporation, KONINKLIJKE PHILIPS, Laborie Medical Technologies, Inc., MED-EL Medical Electronics, Medtronic PLC, Nevro Corp, Zimmer Biomet Holdings, Inc. among others.
The major four players in the market hold approximately 55% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in January 2021, Abbott launched NeuroSpher myPath, a digital health app to track and report on patient perceived pain relief and well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy. Thus, such initiatives propel the market growth.
The global neurostimulation devices market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global neurostimulation devices market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various types and other components used in the manufacturing of neurostimulation devices
- Manufacturing Cost Analysis: Cost-share of various neurostimulation devices materials, cost analysis of neurostimulation devices materials, Unit Cost Analysis of neurostimulation devices materials
- New Advancement in Neurostimulation Devices:
- Reimagining Spinal Cord Stimulation
- Rethinking Peripheral Nerve Stimulation
- Restorative Neurostimulation
The global neurostimulation devices market report answers questions such as:
- What is the market size and forecast of the global neurostimulation devices market?
- What are the inhibiting factors and impact of COVID-19 on the global neurostimulation devices market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global neurostimulation devices market?
- What is the competitive strategic window for opportunities in the global neurostimulation devices market?
- What are the technology trends and regulatory frameworks in the global neurostimulation devices market?
- What is the market share of the leading players in the global neurostimulation devices market?
- What modes and strategic moves are considered favorable for entering the global neurostimulation devices market?
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Global Neurostimulation Device Market
Chapter 4. Global Neurostimulation Device Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Manufacturer
4.1.3. Distribution
4.1.4. End User
4.2. Industry Outlook
4.2.1. New Advancement in Neurostimulation Device
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
4.7.2. Market Volume Estimates and Forecast (000' Units), 2017 - 2030
4.7.3. Price Trend Analysis, By Device Type
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping
Chapter 5. Neurostimulation Device Market Analysis, By Product
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
5.2.1. Implantable Device
5.2.1.1. Cochlear Implants (CI)
5.2.1.2. Sacral Nerve Stimulation (SNS)
5.2.1.3. Gastric Electric Stimulation (GES)
5.2.1.4. Deep Brain Stimulation (DBS)
5.2.1.5. Vagus Nerve Stimulation (VNS)
5.2.1.6. Spinal Cord Stimulation (SCS).
5.2.2. External Device
5.2.2.1. Transcranial Magnetic Stimulation (TMS)
5.2.2.2. Transcutaneous Electrical Nerve Stimulation (TENS)
Chapter 6. Neurostimulation Device Market Analysis, By Application
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
6.2.1. Pain Management
6.2.2. Hearing Loss
6.2.3. Urinary Incontinence
6.2.4. Parkinson's Disease
6.2.5. Epilepsy
6.2.6. Gastroparesis
6.2.7. Depression
6.2.8. Others
Chapter 7. Neurostimulation Device Market Analysis, By End User
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
7.2.1. Hospitals/Clinics
7.2.2. Cognitive Care Centers
7.2.3. Research Institutes
7.2.4. Others
Chapter 8. Neurostimulation Device Market Analysis, By Region
Chapter 9. North America Neurostimulation Device Market Analysis
Chapter 10. Europe Neurostimulation Device Market Analysis
Chapter 11. Asia Pacific Neurostimulation Device Market Analysis
Chapter 12. Middle East and Africa Neurostimulation Device Market Analysis
Chapter 13. South America Neurostimulation Device Market Analysis
Chapter 14. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
14.1. Abbott Laboratories
14.2. Advanced Bionics
14.3. B. Braun Melsungen AG
14.4. Boston Scientific Corporation
14.5. BrainsWay
14.6. Cochlear
14.7. CONMED Corporation
14.8. KONINKLIJKE PHILIPS
14.9. Laborie Medical Technologies, Inc.
14.10. MED-EL Medical Electronics
14.11. Medtronic PLC
14.12. Nevro Corp
14.13. Zimmer Biomet Holdings, Inc.
14.14. Other Prominent Players
For more information about this report visit https://www.researchandmarkets.com/r/3x4t5v
Attachment
