Neurostimulation is a modulation of the nervous system’s activity. It is deliberately carried out by using invasive and non-invasive techniques. Implantable stimulation devices are most commonly used in the treatment of the neurological conditions such as epilepsy, Parkinson’s disease, dystonia, tremors, depression, obsessive compulsive disorder, diabetic neuropathy, and few other conditions. Increasing cases of the neurological disorders such as chronic pain and depression high adoption of the neurostimulation therapy are likely to improve the market of neurostimulation devices.
According to the World Health Organisation (WHO) neurological disorders are responsible for 4.5%-11% of all illnesses including in low or high income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to rise further over the coming years.
Intended Audience
Neurostimulation devices manufacturers and suppliers
Contract research organizations (CROs)
Research and development (R&D) companies
Government & independent research laboratories
Government and independent regulatory authorities
Market research and consulting service providers
Academic institutes and universities
Neurostimulation Devices Market Segmentation:
Neurostimulation devices market has been segmented on the basis of type which comprises implantable devices, and external devices. Implantable devices include deep brain stimulators, spinal cord stimulators, sacral nerve stimulators, gastric electric stimulators, cochlear implants, and vagus nerve stimulators; whereas external devices include transcutaneous electrical nerve stimulator, and transcranial magnetic stimulator. On the basis of application, the market is segmented into dystonia, epilepsy, Parkinson's disease, depression, gastroparesis, pain management, tremors, urinary and fecal incontinence, and others. On the basis of end user, market is segmented into hospitals/clinics, cognitive care centers, research institutes and others.
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Key Players
Some of the key players in this market are: Autonomic Technologies, Boston Scientific, ElectroCore, ImThera Medical, Inspire Medical Systems, LivaNova (Cyberonics), Medtronic, NeuroMetrix, NeuroPace, Neuros Medical, NeuroSigma, Nevro Corporation, SPR Therapeutics, St.Jude Medical, Synapse Biomedical, and others.
Regional Analysis
America account for the largest market share in neurostimulation devices market. The growth is attributed to an increasing demand for cardiovascular devices for the treatment of cardiovascular diseases and increasing prevalence of neurological diseases in the market. Additionally, the market growth is also boosted by increasing expenditure on neurostimulation devices in North America.
Additionally, invention of new technology, increasing awareness, and investments in research and development have boosted the neurostimulation market. However, high cost associated with monitoring and diagnosis of disease may restrain the market growth.
According to Centre for Disease Control and Prevention (CDC), in 2015, 1.2% of the total U.S. population had active epilepsy accounting for about 3.4 million people with epilepsy nationwide which includes 3 million adults and 470,000 children. The total indirect and direct cost of epilepsy in the U.S. is estimated to be USD 15.5 billion yearly. Huge number of patients suffer with other neurological disorders.
Additionally, rising geriatric population across the globe also fuels the growth of the market. According to World Population Ageing Report, in 2017, there are an estimated 962 million people aged 60 or over globally, which is 13% of the total global population. According to the population reference bureau, the number of Americans ageing 65 and older is projected to more than double from 46 million in 2015 to over 98 million by 2060. According to the StastsCan, 2015, over 5.7 million Canadians have aged 65 and older, which was 16.1 % of Canadian population.
Table Of Content
1 INTRODUCTION
1.1 DEFINITION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.2.2.1 ASSUMPTIONS
1.2.2.2 LIMITATIONS
1.3 MARKET STRUCTURE
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
3 MARKET DYNAMICS
3.1 DRIVERS
3.2 RESTRAINTS
3.3 OPPORTUNITIES
3.4 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
4.1 PORTERS FIVE FORCES MODEL
4.2 BARGAINING POWER OF SUPPLIERS
4.3 BARGAINING POWER OF BUYERS
4.4 THREAT OF NEW ENTRANTS
4.5 THREAT OF SUBSTITUTES
4.6 INTENSITY OF RIVALRY
TOC Continued….!
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