The Global Market for Neurostimulation Devices is Forecast to Reach US$5.8 Billion by 2020

Acute Need for Neurologic Care Drives the Global Neurostimulation Market, According to a New Report by Global Industry Analysts, Inc.

                                                                                                

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Neurostimulation market. The global market for Neurostimulation Devices is forecast to reach US$5.8 billion by 2020, driven by the growing base of aging population vulnerable to neurological disorders and the acute need for quality neurologic care.

Neurostimulation is a promising medical therapy that modulates nervous system functions electrically by using mild electrical stimulation to obstruct pain impulses prior to its sensing by the brain. The global market for neurostimulation devices is primarily driven by rising levels of consumer awareness, increasing incidence of age-related neurological disorders, enhanced clinical outcomes, rising number of FDA approvals for performing clinical trials, and the manufacture of advanced implantable neurostimulation instruments. Significant increase in the number of individuals suffering from Alzheimer’s, Parkinson’s, epilepsy, as well as migraine will continue to fuel growth in the market. The market is also witnessing growth on the technological front, with several companies developing systems with superior features, customer-friendly user interface, as well as capabilities of predicting neurological onset. Future growth in the market will be driven by the rising need to provide safe and improved care to patients with neurological disorders and increasing government focus on funding R&D initiatives. Advanced ceramics or engineered ceramics are opening up new frontiers in neurostimulation and are leading the way in the development of next generation implantable pulse generators. Advanced ceramics are helping fulfill unmet needs in miniaturization of neurological devices. The materials are enabling the development of new devices capable of integrating larger number of leads and transmitting more number of signals from a single device.

As stated by the new market research report on Neurostimulation, the United States represents the largest market worldwide, followed by Europe. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 15.2%. Economic growth and the corresponding increase in living standards, rising public and personal healthcare spending, and burgeoning aging population are fostering demand in the region. The outlook for growth remains especially optimistic for China and India, given the favorable government policies, developing healthcare infrastructure and relatively low penetration of neurostimulation devices. Spinal Cord Stimulators (SCS) dominate the global market, while Sacral Nerve Stimulators (SNS) are expected to witness significant growth in the coming years.

Key players covered in the report include Aleva Neurotherapeutics SA, BioControl Medical, Bioness Inc., Boston Scientific Corp., EnteroMedics Inc., LivaNova PLC, Medtronic Inc., NeuroPace Inc., NeuroSigma Inc., Nevro Corp., SPR Therapeutics LLC, St. Jude Medical Inc., and Synapse Biomedical Inc., among others.

The research report titled “Neurostimulation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for major geographic markets, including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product segments analyzed in the report include Spinal Cord Stimulators (SCS), Deep Brain Stimulators (DBS), Sacral Nerve Stimulators (SNS), Vagus Nerve Stimulators (VNS), and Gastric Electric Stimulators (GES).

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