According to the latest report published by Credence Research, Inc. “ Neurostimulation Devices Market (Device Type: Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator & Gastric Electric Stimulators; Therapeutic Areas: Pain Management, Epilepsy, Essential Tremor , Urinary and Fecal Incontinence, Depression Dystonia, Gastroparesis, Parkinson’s Disease & Others): Growth, Future Prospects and Competitive Analysis, 2016-2024, „the global neurostimulation devices market was valued at US $ 4,904.9 Mn in 2015, and is expected to reach US $ 17,017.1 Mn by 2024, expanding at a CAGR of 13.0% from 2016 to 2024.
Browse the full report on Neurostimulation Devices Market Growth, Future Prospects and Competitive Analysis, 2016-2024 at http://www.credenceresearch.com/report/neurostimulation-devices-market
Market Insights
The steady rise in demand for neurostimulation treatment is majorly driven by increasing incidence of neurological disorders worldwide, significant gap in the outcomes of existing treatments, and growing demand for improving the quality of life. Neurosurgeons are increasingly seeking further and more efficient modalities that offer lesser treatment complexities and are minimally invasive in nature and have longer efficacy than the conventional treatments. This report studies the global neurostimulation devices market based on device types, therapeutic areas and geographic distribution.
In the different device types, spinal cord stimulator currently offers the most significant market potential and the growth in this segment. In addition, the sacral nerve stimulator is anticipated to become the fastest progressing segment during the prognosis period due to increased prevalence of incontinence. Deep brain stimulators are used in the treatment of degenerative disorders such as Alzheimer’s and Parkinson’s disease. These stimulators are currently based on bourgeoning technologies and further innovation in the nature of these systems. Their anticipated extension in treating conditions such as refractory epilepsy, Tourette syndrome, cluster headache,
Pain management constituting the largest therapeutic area where neurostimulation devices find the widest application. High global prevalence of pain disorders, such as chronic pain, and other surgical techniques are among the key drivers of this segment. Other therapeutic areas such as neurostimulation devices market for Parkinson’s disease, epilepsy, and gastric conditions are also anticipated to undergo an impressive growth rate during the prognosis period.
Geographically, North America and Western Europe together capture the largest market in 2015 and North America is anticipated to maintain its lead throughout the forecast period. Existence of evolved healthcare system wants to remain the chief growth drivers in North America market. On the other hand, Asia Pacific and Latin America are expected to become the fastest growing regional markets during the forecast period. Prevalence of huge geriatric population in countries such as Japan, India, China, Mexico and others who are in high risk and incidence of neurological and neurodegenerative diseases and perpetual evolution of healthcare infrastructure in the regions,
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