The Global Neurostimulation Devices Market is growing steadily and it is anticipated to show an exponential growth reaching approximately $11.5 billion in 2022.
Neurostimulation is a modulation of the nervous system’s activity. It is deliberately carried out by using invasive and non-invasive techniques. Implantable stimulation devices are most commonly used in the treatment of the neurological conditions such as epilepsy, Parkinson’s disease, dystonia, tremors, depression, obsessive compulsive disorder, diabetic neuropathy, and few other conditions. Increasing cases of the neurological disorders such as chronic pain and depression high adoption of the neurostimulation therapy are likely to improve the market of neurostimulation devices.
According to the World Health Organisation (WHO) neurological disorders are responsible for 4.5%-11% of all illnesses including in low or high income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to rise further over the coming years.
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Global Neurostimulation Devices Market- Competitive Analysis
Autonomic Technologies, Boston Scientific Corporation, ElectroCore, ImThera Medical, Inspire Medical Systems, LivaNova (Cyberonics), Medtronic, NeuroMetrix, NeuroPace, Neuros Medical, NeuroSigma, Nevro Corporation, SPR Therapeutics, St.Jude Medical, Synapse Biomedical, and others.
Boston Scientific Corporation
Boston Scientific Corporation one of the leading medical device manufacturing company.
Precision Montage and Precision Spectra are the major devices offered by the company.
Medtronic is a public limited medical device company. Its headquarters are in Dublin, Ireland. This company is investing heavily in neuromodulation devices.
Activa PC+S, a first-of-its-kind brain stimulator is introduced by the company.
St. Jude Medical
St. Jude Medical, an U.S. headquartered companies has introduced many of the neuromodulation devices. AXIUM neurostimulator system, BurstDR and ProclaimTM are other major product of the company used widely across the world.
Neurometrix, an U.S. based company has introduced Quell, a wearable pain relief technology in 2017.
Synapse Biomedical, Inc. an US headquartered company has introduces euRx DPS for the treatment of pain.
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Cyberonics, U.S. headquartered medical device manufacturing company. The company developed and markets the Vagus Nerve Stimulation (VNS) Therapy system which has approved by FDA. They introduced PERCEVAL for Vagus Nerve Stimulation
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