Neurostimulation Devices Market Size, Global Opportunities, And Business Growth
Posted by Neha Bora on February 25th, 2020
San Francisco, 25 February 2020: The Report Neurostimulation Devices Market Size, Share & Trends Analysis Report By Application (Pain Management, Urinary & Fecal Incontinence, Epilepsy), By Product (Spinal Cord, Deep Brain Stimulators), And Segment Forecasts, 2019 - 2026
The global neurostimulation devices market size is expected to reach USD 12.6 billion by 2026 registering a CAGR of 12.5%, according to a new report by Grand View Research, Inc. Increasing prevalence of chronic diseases, such as migraine and epilepsy, due to unhealthy diet and lifestyle and rising geriatric population is expected to be the major growth-driving factor for the neurostimulation devices market. However, adverse effects and risks associated with neurostimulation devices and stringent regulations regarding product approval are expected to hamper the growth.
Increasing incidence of Road Traffic Accidents (RTAs) is another factor driving the product demand. Moreover, manufacturers are investing in R&D to develop new products with advance technology, such as MRI safety incorporated devices by Medtronic Inc. and minimally invasive transdermal neuromodulation technology by Neurowave Medical Technologies.
Asia Pacific is projected to be the fastest-growing regional market on account of rising healthcare expenditures and rapid economic growth in emerging countries, such as India and China. Presence of unmet medical needs and untapped markets are also boosting the market growth in the region. Moreover, changing lifestyle and eating habits resulting in various lifestyle-related diseases will contribute to the growth. Increasing RTAs and resultant nerve injuries, which require neurostimulation postoperatively, are also likely to boost product demand.
Access Research Insights of Neurostimulation Devices Market @ www.grandviewresearch.com/research-insights/new-era-neurostimulation-therapy
Further key findings from the study suggest:
Grand View Research has segmented the global neurostimulation devices market on the basis of product, application, and region:
Neurostimulation Devices Product Outlook (Volume, 000 units; Revenue, USD Million, 2015 - 2026)
Neurostimulation Devices Application Outlook (Revenue, USD Million, 2015 - 2026)
Neurostimulation Devices Regional Outlook (Revenue, USD Million, 2015 - 2026)
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About the AuthorNeha Bora
Joined: September 16th, 2019
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