Global Implantable Neurostimulators Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029
“Global Implantable Neurostimulators Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that offer vital insights and perspectives in to various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global implantable neurostimulators market has been segmented on the basis of type, application, as well as regions and countries.
An implantable neurostimulator is a surgically placed device about the size of a stopwatch. It delivers mild electrical signals to the epidural space near an individual’s spine through one or more thin wires, called leads.
Owing to the numerous advancements in minimally invasive surgeries, as well as the growing prevalence of chronic disorders such as Parkinson’s disease, chronic pain, epilepsy, depression, movement disorders, etc., are some of the primary factors that are expected to continue to influence the revenue growth of the global implantable neurostimulators market over the next decade.
Due to the increasing ability of neurostimulators to manage chronic neurological disorders and other related conditions such as, urinary incontinence, epilepsy, neuropathic pain, depression, nociceptive pain, and Parkinson’s disease, the demand for implantable neurostimulators has grown significantly in recent years, especially in cases where a patient is non-responsive to conventional drug therapies. This is also a factor that is slated to have a profound influence on the future market growth of this global industry.
However, in light of the recent COVID-19 outbreak, the operations of numerous industries have been either temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global implantable neurostimulators market is no different. This is a factor that could potentially impede on the market growth of this global industry in the near future.
Nonetheless, due to enhanced patient outcomes, as well as the incorporation of various technological advancements, there has been a steady increase in the demand for minimally invasive surgeries, and these factors are projected to substantially increase the adoption rates of implantable neurostimulators in the years to come, thereby boosting revenue growth opportunities for the global implantable neurostimulators market.
Segmentation of the global implantable neurostimulators market is as follows:
In terms of type, the spinal cord stimulators segment accounted for the maximum number of revenue shares of the global implantable neurostimulators market in 2020, and is expected to index considerable revenue growth over the next decade. However, the sacral nerve stimulators segment is anticipated to register the highest CAGR over the forecast period. This can be attributed to the growing awareness levels among individuals concerning the treatment for various nervous system disorders, as well as the general increase in the number of individuals with overactive bladders.
With respect to application, the pain management segment accounted for the highest number of revenue shares of the global implantable neurostimulators market in 2020, and is anticipated to register the highest CAGR over the next decade.
Regional Segmentation and Analysis:
North America accounted for the highest number of revenue shares of the global implantable neurostimulators market in 2020, and is expected to index considerable revenue growth over the course of this forecast period. However, the markets in the Asia Pacific region are anticipated to register the highest CAGR over the next 10 years, owing to factors such as booming geriatric populations, as well as the increasing incidence rates of various neurological disorders among the individuals of this region.
Segmentation of the Global Implantable Neurostimulators Market:
Segmentation by Type:
- Deep Brain Stimulators
- Spinal Cord Stimulators
- Vagus Nerve Stimulators
- Sacral Nerve Stimulators
- Gastric Electric Stimulators
Segmentation by Application:
- Pain Management
- Parkinson’s Disease
- Urinary and Fecal Incontinence
Segmentation by Regions:
- North America
- South America
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Abbott Laboratories (St. Jude Medical)
- Medtronic Plc
- Boston Scientific Corporation
- Aleva Neurotherapeutics SA
- Synapse Biomedical Inc.
- Nevro Corp.
- LivaNova PLC
- NeuroPace Inc.
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