Neurostimulation Devices Market To Reach USD 12620 Million By The End of 2027 with a CAGR of 11.3% - Valuates Reports

BANGALORE, India, Aug. 9, 2021 /PRNewswire/ -- Neurostimulation Devices Market is segmented by Product-Type: Spinal Cord Stimulation (SCS), Gastric Electrical Stimulation (GES), Deep Brain Stimulation (DBS), Sacral Nerve Stimulation (SNS), Vagus Nerve Stimulation (VNS), Other, Application: Pain Management, Parkinson's Disease, Urinary and Fecal Incontinence, Epilepsy, Gastroparesis, Other, Global Opportunity Analysis and Industry Forecast, 2021 - 2027. It is published in Valuates Reports under the  Health Conditions Category.

In 2020, the global Neurostimulation Devices market size was USD 5981 million and it is expected to reach USD 12620 million by the end of 2027, with a CAGR of 11.3% during 2021-2027.

Neurostimulation is a therapeutic activation of part of the nervous system using microelectrodes. The electrodes are used to interface with excitable tissue in order to either restore sensation, such as a cochlear implant for hearing or control an organ, such as a heart pacemaker.

Major factors driving the growth of the Neurostimulation Devices Market are:

• Features such as precise targeting of the pain area, reduced or eliminated the need for pain management medications, patient-controlled programming that allows for customized pain relief, and a renewed ability to sit, stand or walk without discomfort are all contributing to the growth of Neurostimulation Devices Market.
• The rise in prevalence of neurological disorders such as pain, epilepsy, Parkinson's disease, depression, obsessive-compulsive disorder, dystonia, and tremors and increase in the geriatric population is expected to further propel the Neurostimulation Devices Market.

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TRENDS INFLUENCING THE GROWTH OF THE NEUROSTIMULATION DEVICE MARKET

The increasing need for minimal invasive and drug-free treatment is expected to drive the Neurostimulation Devices Market. Neurostimulation works by altering pain signals as they travel to the brain. Neurostimulation aims to reduce the user's perception and experience of certain types of pain inside the body.

An increase in the geriatric population and patients suffering from neurological disorders coupled with growing healthcare spending is expected to further fuel the Neurostimulation Devices Market.

In addition, research and development operations to create new technologies to manage pain and neurological illnesses such as Parkinson's disease, dystonia, and epilepsy are likely to expand patients' and surgeons' treatment options thereby driving the neurostimulation device market.

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NEUROSTIMULATION DEVICES MARKET SHARE ANALYSIS

Based on region, North America is the largest market, with a share of over 40%, followed by China, and Europe, both have a share of about 40 percent. Development of innovative neurostimulators, approvals by health authorities for novel techniques in neurostimulators, and mergers & acquisitions to acquire novel technologies & products are driving North America's market share. 

Based on type, Spinal Cord Stimulation (SCS) is the largest segment, with a share of over 55%. The increased use of spinal cord stimulators for treating neuropathic pain and spinal injuries is contributing to this segment's growth.

Based on application, the largest segment is Pain Management, followed by Parkinson's Disease, Epilepsy, Urinary, and Fecal Incontinence, etc. due to an increase in the usage of neurostimulation devices for treating chronic and acute pain. 

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TOP COMPANIES IN THE NEUROSTIMULATION DEVICE MARKET 

Global top three manufacturers hold a share of over 75%. Global Neurostimulation Devices' key players include Medtronic, Boston Scientific, St. Jude Medical (Abbott), etc. 

Neurostimulation Devices Market By Type

• Spinal Cord Stimulation (SCS)
• Gastric Electrical Stimulation (GES)
• Deep Brain Stimulation (DBS)
• Sacral Nerve Stimulation (SNS)
• Vagus Nerve Stimulation (VNS)
• Other

Neurostimulation Devices Market By Application

• Pain Management
• Parkinson's Disease
• Urinary and Fecal Incontinence
• Epilepsy
• Gastroparesis
• Other

Neurostimulation Devices Market Regions

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Southeast Asia
• Australia
• Rest of Asia-Pacific
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Neurostimulation Devices Market Major Companies

• Medtronic
• Boston Scientific
• Abbott
• LivaNova
• Nevro
• NeuroPace
• Beijing Pins
• Synapse Biomedical

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-  Global Implantable Neurostimulation Devices Market Research Report contains Market Size, Market Share, Market Dynamics, Porter's 5 force Analysis, Segmentation, Regional and Competitor Analysis. Product: Implantable Neurostimulation Devices, Product-Type: Spinal Cord Stimulation (SCS), Gastric Electrical Stimulation (GES), Deep Brain Stimulation (DBS), Sacral Nerve Stimulation (SNS), Vagus Nerve Stimulation (VNS), Others, Application: Pain Management, Parkinson's Disease, Urinary and Fecal Incontinence, Epilepsy, Gastroparesis, Others.

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