Driven by rising health awareness and
continuous disruptive innovations made in the field of medical and
biological technologies, the global market for neurostimulation is
expected to reach a market size valued at USD 7.3 billion in year 2018.
The market is expected to grow at a healthy CAGR of 8.2% from 2012 –
2018. It was estimated at USD 4.2 billion in 2011.
Medical devices manufacturing
companies and their technological affiliates or subsidiaries are
continuously working on developing novel devices and technologies which
can enhance the efficacy of existing treatments and devices, and
simultaneously gain market advantage. The strategic approaches followed
by these companies are focusing on creating new markets and increasing
the existing market share. The market is driven by rising cases of
neurological disorders such as Parkinson’s disease, epilepsy, chronic
pain and incidences of depression related disorders.
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The need for devices with better user
interface, ability to pre-sense a neurological episode on-set, optimize
the inter-device communication, and many more such features which can
increase the therapeutic efficacy of the therapy, is driving the
neurostimulation market growth. However, lack of a reliable measuring
system which can define the expected outcome of neurostimulation
therapies is a major challenge for manufacturers to develop a solution
with defined outcome.
The neurostimulation market based on
therapies is broadly categorized into the following segments: Deep Brain
Stimulation (DBS), Spinal Cord Stimulation (SCS), and Vagus Nerve
Stimulation (VNS). The slow pace of technological developments in the
field is limiting the market growth, and in the current global market
has the following technologies - Navigated Brain Stimulation (NBS),
Transcranial Magnetic Stimulation (TMS), VNS, DBS, and SCS. However,
with stringent IP regulations and increase in FDA approvals, the market
is set to see quick growth in the near future.
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The market for neurostimulation
currently has strong presence in North America and Europe, but is
experiencing fast growth in Asia Pacific regions, mainly across China,
Brazil and the Indian markets.
The global neurological market
currently has few players who are largely present in Western markets.
The leading players dominating the market are - Boston Scientific Corp.,
Cyberonics Inc., St. Jude Medical Inc., Medtronic Inc., Neuropace
Inc., and CVRx Inc.
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This research report analyzes
this market depending on its market segments, major geographies, and
current market trends. Geographies analyzed under this research report
include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of
current trends in the market, industry growth drivers, and restraints.
It provides market projections for the coming years. It includes
analysis of recent developments in technology, Porter’s five force model
analysis and detailed profiles of top industry players. The report
also includes a review of micro and macro factors essential for the
existing market players and new entrants along with detailed value
chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
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- It helps in understanding the key product segments and their future
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