Neurostimulation Market Size, Business Revenue Forecast, Leading Competitors

Posted by peeterdbmr on April 9th, 2021

Global neurostimulation market is registering a healthy CAGR of 12.90% in the forecast period of 2020-2026.The electromagnetic approach to neuromodulation is neurostimulation. Neurostimulation is the purposeful modulation of the nervous system's activity using invasive or invasive means. The demands for cost-effective and safer treatments are high and the increasing prevalence of diseases that are treated with neurostimulation therapy is the major growth factor of this market.

Segmentation: Global Neurostimulation Market

•          By Product (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Gastric Electric Stimulators, Others)
•          By Application (Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson's Disease, Others)
•          By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

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Key Market Competitors:

Few of the major market competitors currently working in the global neurostimulation market are Medtronic, Abbott, Boston Scientific Corporation, LivaNova PLC, Nevro Corp., Neuronetics, LABORIE, Johnson & Johnson Services, Inc., NeuroPace, Inc., NeuroSigma, Inc., NDI, IntraPace, Inc., BioControl Medical, Synapse Biomedical Inc., Biegler GmbH, Stimwave LLC, Modulus, Inc., Integer Holdings Corporation among others.

Competitive Analysis: Global Neurostimulation Market

Global neurostimulation market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neurostimulation market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Market Drivers

•          Surging demands of cost-effective and safer treatment options are driving the market growth
•          Rising prevalence of diseases which are treated with neurostimulation therapy is the major growth factor
•          FDA allowance for clinical trials in this area is helping the growth of the market
•          R&D is revealing more potential uses of the treatment is driving the market growth

Market Restraints

•          Non-measurable outcomes hinders the market growth
•          Inefficient skilled personnel will act as a market restraint