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This report aims to provide a comprehensive study of the global market for neurostimulation technologies/devices. It provides a detailed description of the different types of neurostimulation technologies/devices (invasive and noninvasive) and their current and historical market revenues.
Neurostimulation technologies/devices include spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, hypoglossal nerve stimulation, transcutaneous electrical nerve stimulation, transcranial magnetic stimulation and others.
This report also covers a detailed study of therapeutic applications of neurostimulation technologies/devices including chronic pain, Parkinson's disease, epilepsy, urinary and fecal incontinence, obstructive sleep apnea, essential tremor, obsessive compulsive disorder, major depressive disorder/clinical depression and others. An in-depth analysis of the global market for neurostimulation technologies/devices includes historical data and market projection on sales by, device type, therapeutic applications and region.
For in-depth understanding of the market, profiles of market participants, key marketed devices, competitive landscape, key competitors, and their respective market shares have been provided. This report also discusses driving and restraining factors of the global neurostimulation technology/devices market.
- 21 data tables and 20 additional tables
- An overview of the global markets and technologies for neurostimulation
- Estimation of the market size and analyses of market trends, with data from 2020, estimates for 2021 and projection of CAGR through 2026
- Description of Dorsal Root Ganglion (DRG) neurostimulator system and discussion on approved indications of stimulation therapy for various diseases
- Information on recent therapy improvements and new indications for use, and discussion on alternatives to traditional stimulation therapies
- Coverage of ongoing scientific discoveries and technological advances in neurostimulation technologies and insights into marketed and pipeline (R&D) products, product recalls and reimbursement policies
- Market share analysis of neurostimulation devices by application, type and region, and evaluation of market size and forecast, and detailed analysis of drivers, challenges and opportunities affecting market growth
- Details about symptoms, progression and epidemiology of COVID-19 and discussion on impact of COVID-19 pandemic on medical industry as well as on neurostimulation market
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of major players of the industry, including Abbott Laboratories, Boston Scientific, Medtronic PLC, NeuroMetrix, NeuroSigma and Soterix Medical Inc.
The human nervous system works as the head commander of the human body and medical science community have long believed that it has huge potential in treatment of human body disorders.
Neurostimulation technology involves alteration or modulation of nerves. Neurostimulation devices deliver electrical current or magnetic impulses directly to nerves to modify their activities.
In the last 25-30 years, neurostimulation has emerged as one of the most dynamic and exciting therapy field that has been actively investigated for treatment of a range of clinical conditions including chronic pain, movement disorders (Parkinson's disease, tremor, dystonia and others), epilepsy, psychiatric disorders, functional restoration, cardiovascular disorders, gastrointestinal disorders and genitourinary disorders. It is also referred as "drug-free solutions." Currently, the potential of neurostimulation technology is actively being explored in several other clinical conditions including obesity, tinnitus and central nerve system disorders.
Given the vast size of the potential treatment population and ongoing scientific discoveries and technological advances in neurostimulation technologies, the neurostimulation devices' market is poised for significant growth. For example, according to the WHO, epilepsy is one of the most common neurological diseases globally, affecting around 50 million people around the world. According to the CDC, an estimated 50 million adults suffered from chronic pain in the U.S. in 2016, including 19.6 million adults who had high-impact chronic pain. Moreover, with growing geriatric populations and increasing trend toward the use of nondrug therapies, greater expectations for quality of life, and improved patient
attitudes toward receiving medical attention, the neurostimulation technology market is expected to grow significantly in coming years.
The global neurostimulation device market is estimated to have been worth nearly REDACTED in 2020. Between 2021 and 2026, the market is predicted to see a compound annual growth rate (CAGR) of REDACTED, leading to a market value of REDACTED in 2026. This market is experiencing significant growth, largely driven by favorable demographic trends, focus on reducing opioid usage and product innovations.