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Neurostimulation Devices Market

Wednesday, November 2, 2016 22:59
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(Before It's News)

The Global market for Neurostimulation Devices is expected to cross US$5 Billion by the year end of 2021.

Drivers & Restraints
Market growth can be attributed to factors such as rising geriatric population, increasing prevalence of neurological diseases, strong product pipeline offered by the players. In addition, rapid advances in the field of neurostimulation and development of minimally invasive techniques have greatly expanded the market. High cost of treatment and negative social perception is restraining the growth of neurostimulation devices Market.

Segment Insights
Spinal cord stimulation segment dominated the neurostimulation devices market with more than XX% share in 2015. But its market share will dwindle in the forecasting period due to the highest growth rate of deep brain stimulation segment. It is expected that deep brain stimulation segment will grab nearly 20% market share by the year end of 2021.

Regional Insights
North America is seen as the dominant player in the neurostimulation devices market followed by Europe, Asia–Pacific, and rest of the world (RoW) in 2015. In the coming years, the neurostimulation devices market is expected to witness the highest growth rate in the Asian region, with emphasis on India, China, and Japan. These countries are expected to increase revenues for the manufacturers of devices involved in neurostimulation.

Application Insights
Chronic Pain is identified as the largest application segment of the neurostimulation devices market. Urinary and Fecal Incontinence(UFI) is the second leading segment for neurostimulation devices market. Refractory epilepsy stands at the third spot with more than XX% share in 2015. Parkinson’s disease holds the fourth highest share being followed by Gastroparesis. Essential Tremor and Dystonia are the other leading application segment for neurostimulation devices

 

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