Global neuro-stimulators market is expected to rise to an estimated value of USD 13.00 billion by 2026, registering a healthy CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the innovations of technologies and significant advancements of these technologies.
All the data and information collected in the report is studied and analysed with the demonstrated tools and techniques such as SWOT analysis and Porter’s Five Forces analysis. This report also provides the company profile, product specifications, production value, contact information of manufacturer and market shares for company. The neuro-stimulators report emphasizes on changing dynamics, growth-driving factors, restraints, and limitations. With the study of competitor analysis, businesses get know how of the strategies of key players in the market that includes but are not limited to new product launches, expansions, agreements, joint ventures, partnerships, and acquisitions.
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Key Market Competitors:
Few of the major competitors currently working in the global neuro-stimulators market are Boston Scientific Corporation; Abbott; Medtronic; Nevro Corp.; LivaNova PLC; Neuronetics; Laborie, Inc.; SYMMETRY SURGICAL INC; IntraPace, Inc.; NDI Medical, LLC; NeuroPace, Inc.; electroCore, Inc.; Nuvectra; Stimwave LLC; NeuroSigma, Inc.; Saluda Medical Pty Ltd.; Synapse Biomedical Inc. among others.
Global neuro-stimulators market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neuro-stimulators market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Developments in the Market:
- In January 2019, Boston Scientific Corporation announced the availability of “Spectra WaveWriter Spinal Cord Stimulator System” for the European region. This system is the first approved which can be used for the treatment of chronic pain while also offering paresthesia-based and sub-perception therapy alongside pain relief. The system will be able to provide physicians with real-time information for the patient while treating chronic pain successfully
- In January 2019, Abbott announced positive results for their multicenter study involving the company’s “BurstDR” stimulation device delivering low-energy intermittent doses, also known as “microdosing”. This method is capable of treating chronic pain or providing pain relief as effectively as standard dosing with “BurstDR” stimulation. This study will help enhance the overall battery life of spinal cord stimulation devices without compromising on the pain relief focus of these devices
- High volume of patients suffering from various lifestyle-related disorders; this factor is expected to drive the market growth
- Growing volume of patient suffering from various chronic diseases will also boost the growth of this market in the forecast period
- Growing volume of geriatric population worldwide resulting in high volume of target population base will also propel the market growth
- Focus of various authorities and organizations on enhancing the levels of understanding giving rise to high volume of research & development activities
- Availability and preferences for alternative treatment modes is expected to act as a restraint for the market growth
- Complications and significant negative impacts associated with these devices resulting in lack of usage will also restrict the growth of the market
- Existence of various strict and complicated regulatory compliances for the approval of these products; this factor is expected to hinder the growth of the market
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Segmentation: Global Neuro-Stimulators Market
- Spinal Cord Stimulator
- Deep Brain Stimulator
- Sacral Nerve Stimulator
- Vagus Nerve Stimulator
- Responsive Neuro Stimulation
- Transcranial Magnetic Stimulation
- Peripheral Nerve Stimulation
- Gastric Electric Stimulator
- Pain Management
- Essential Tremor
- Hearing Loss
- Urinary & Fecal Incontinence
- Parkinson’s Disease
- North America
- South America
- Middle East and Africa
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