A recent study by Hexa Research revealed that limited range of treatment choices relating to medical conditions like epilepsy, Alzheimer’s disease, Parkinson’s disease, migraine headaches, etc. is one of the key drivers of the global neurostimulation devices market. An upcoming application area is the use of neurostimulation devices for therapeutic purposes, commonly referred to as neuromodulation. The neurostimulation devices market is benefitting from technological advancements like the transdermal neuromodulation technology by Neurowave Medical Technologies and MRI safety-enabled devices by Medtronics, Inc. Rising elderly populace – a high risk demographic for Parkinson’s and Alzheimer’s, is also driving market growth. Accelerated demand for neurostimulation devices in the future years is expected to result from untapped market opportunities in emerging economies of Asia as well as Latin America and the growing number of externally funded clinical programs for development of new products.
Browse Detail Report with TOC at:
Hexa Research identifies spinal cord stimulation devices, vagus nerve stimulation devices, gastric electric stimulation devices, deep brain stimulation devices, and sacral nerve stimulation devices to be the key product segments in the neurostimulation devices market. Spinal cord stimulation devices, with a contribution of more than half to the total revenues, were the dominant product segment in 2012.
Pain management proved to be the largest application of neurostimulation devices in 2012 and contributed more than 65% to the total demand that year. This was chiefly due to high incidence of conditions characterized by chronic pain and notable therapeutic effects offered by neurostimulation devices.
While North America contributed around 64% to the total revenues in 2012, Asia Pacific is likely to grow the fastest in future. Fast-developing economies like India and China will result in the Asia Pacific neurostimulation devices market growing at CAGR higher than 16% from 2013 to 2020.
Request for sample copy of this report at:
Hexa Research observes that the neurostimulation devices industry exhibits outsourcing of expensive manufacturing activities. This enables industry participants to achieve cost efficiency and better profitability. Key industry players include Boston Scientific Corporation, Cyberonics, Medtronic Inc., and St. Jude Medical.
Growing geriatric population base and rising incidences of target diseases such as Alzheimer’s and Parkinson’s are the major drivers for this market. As per an estimate by the Alzheimer Disease International 36 million people globally had Alzheimer’s or a related dementia. Limited treatment options for diseases such as migraine and epilepsy has led to high unmet medical needs of patients in this segment, and thus is a high impact rendering driver for the neurostimulation devices market. Spurred use of neuromodulation devices as an add-on therapy, growing demand for minimally invasive surgery and the technological advancements such as Neurowave Medical Technologies transdermal neuromodulation technology and MRI safety enabled neurostimulator by Medtronic, are expected to further augment the growth of the neurostimulation devices. Untapped, rapidly growing markets of Asia and Latin America have presences of abundant unmet needs and thus offer future growth opportunities to the neurostimulation devices market. Manufacturing neurostimulation devices is an expensive manufacturing process the manufacturers thus, are adhering to outsourcing as an attempt to reduce the costs and maximize the overall profit margin. The key manufacturers are Boston Scientific Corporation, Cyberonics, Medtronic Inc. and St. Jude Medical.
Browse Healthcare Related Reports at:
Table of Contents
Chapter 1. Executive Summary
1.1. Neurostimulation Devices – Industry Summary and Critical Success Factors (CSFs)
Chapter 2. Neurostimulation devices Industry Outlook
2.1. Market Segmentation
2.2. Market Size and Growth Prospects
2.3. Neurostimulation devices Market Dynamics
2.4. Key Opportunities Prioritized
2.5. Industry Analysis – Porter’s
2.6. Neurostimulation Devices – Company Market Share Analysis
2.7. Neurostimulation Devices Market PESTEL Analysis, 2012
Chapter 3. Neurostimulation Devices Product Outlook
3.1. Deep Brain Stimulation Device
3.2. Gastric Electric Stimulation Device
3.3. Spinal Cord Stimulation Device
3.4. Sacral Nerve Stimulation Device
3.5. Vagus Nerve Stimulation Device
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Custom Research: Hexa Research offers its clients complete flexibility and freedom to design a study in order to tailor it to match their exact requirements. Our account executives and research managers are constantly available to help the client identify key deliverable and obtain maximum value for cost. Some of the commonly used parameters for building a custom study are listed below:
• Product segments
• Application markets
• Regional preference
• Market data drill-down
For more information, contact us:
Felton Office Plaza
6265 Highway 9
Felton, California 95018
Company Name: Hexa Research
Contact Person: Michelle Thoras
Address:Felton Office Plaza, 6265 Highway 9
Country: United States