Neurostimulation Devices Market with a predicted value of ~US$ 6.4 billion by 2030

New Lead Interface Designs Serve as Cost-efficient Method for Development of Neurostimulation Devices

Design innovations improve the manufacturability of neurostimulation devices. Companies in the neurostimulation devices market are developing new lead interfaces to integrate new external pulse generators. Apart from chronic pain and epilepsy, healthcare industries are increasing awareness about neurostimulation devices for the treatment of bladder dysfunction. Technological developments in devices are benefitting stakeholders in the healthcare value chain with the increasing availability of new and improved solutions.

Get the sample copy of report@ https://qyresearchmedical.com/sample/111757

The trend of implantable neurostimulation technologies is driving the growth of the neurostimulation devices market. Companies are exploring untapped opportunities in the development of new lead interfaces in external pulse generators. Innovations in new lead interfaces are overcoming the drawbacks of conventional lead interface designs. Clinical challenges associated with traditional lead interface designs are triggering the demand for new lead interfaces.

By streamlining production processes, medical hardware manufacturers in the neurostimulation devices market can significantly reduce the time required to develop these devices. They should adopt techniques of laser welding and other high-precision techniques to optimize lead interface designs.

AI and Machine Learning Steer Innovation in Smart Neuromodulation for Brain Damage Patients

The trend of smart neuromodulation is engulfing the neurostimulation devices market. Better understanding of neural targets with AI is paving the way for technological advancements. Companies in the neurostimulation devices space are harnessing the techniques of machine learning to assess non-invasive brain computer interfaces. These techniques are creating scope for treatment opportunities catering to brain damage.

Companies in the neurostimulation devices market are increasing research efforts in understanding brain functions and AI to overcome stagnation in neuromodulation technology. To sustain success in the landscape, healthcare industries will have to incorporate neurophilosophy of network science, since brain functions are complex and complicated. Neurophilosophy of network science is helping companies deploy novel stimulation designs such as burst stimulation. The new technique of burst stimulation is incorporated with sensing technology to record brain activity and generate key insights. Closed-loop spinal cord stimulation serves as an efficacious treatment option for chronic pain. On the other hand, companies are running several clinical trials to assess the effects of responsive brain stimulation for epilepsy.

Smart Implants – Cost- and Time-efficient Option for Neurological Patients

Healthcare providers are increasing efforts to achieve increased success rate in brain implants. The implantation of neurostimulation devices in Parkinson’s patients is creating a scope for incremental opportunities for companies in the neurostimulation devices market. Currently, epilepsy accounts for the third-highest revenue amongst all applications in the neurostimulation devices market, with a recorded value of ~US$ 750 million in 2018. Smart implants are helping treat epilepsy and other neurological conditions such as Parkinson’s disease, as these implants ‘listen’ to brain signals and stimulate brain activity.

Neurostimulation devices are being increasingly used to treat various health conditions, such as the effects of stroke and even depression, amongst patients. Healthcare companies are increasing research to develop tiny external controllers that monitor any abnormal activity in the brain. Novel neurostimulation devices can modulate electrical signals to prevent the incidence of seizure or tremors in patients. Neurostimulation devices are gaining increased popularity amongst individuals, owning to their cost-efficiency and time effectiveness attributes. More and more individuals are benefitting with the help of neurostimulation devices, as the effectiveness of these devices saves time and money to find the right therapy for patients.

Healthcare Companies Explore Effects of Multiple Electrophysiological Mechanisms to Improve Efficacy in Neuromodulation

The field of neuromodulation is making significant advancements in the therapeutics landscape. High prevalence of chronic pain amongst individuals has catalyzed innovations in the neurostimulation devices market. As such, the chronic pain application accounts for the highest revenue in the neurostimulation devices market, with a predicted value of ~US$ 6.4 billion by 2027. This is why, healthcare industries are innovating in neuromodulation technology to assess stimulation patterns and neural targets.

Emerging targets such as dorsal foot ganglion and other stimulation methodologies such as burst stimulation are contributing to the renaissance of technological development in the neurostimulation devices landscape. However, in many cases, the loss of therapeutic effect in patients has restrained the adoption of neurostimulation devices. Habituation and tolerance to neuromodulation is found to be common in spinal cord stimulators (SCS). To overcome this limitation, healthcare companies are increasing R&D to study the effects of multiple electrophysiological and neurochemical mechanisms amongst patients. Companies are experimenting with programmed electrical parameters to increase the efficacy of SCSs.

Analysts’ Viewpoint

The neurostimulation devices market is anticipated to grow at a striking CAGR of ~10% during the forecast period. Companies are incorporating neurostimulation devices with AI that help to efficiently control the sensing and deployment of the device. They are focusing on the adaptive flexible neuromodulation approach to decode the symptoms, memories, and thoughts of neurological patients.

However, conventional SCSs based on the open-loop paradigm pose limitations for the treatment of axial back pain. Hence, healthcare companies should invest in the development of closed-loop SCS systems that are found to reflect incremental improvements in patients with axial back pain. Companies could look to invest in the healthcare landscape of Asia Pacific, since the market in this region is projected for exponential growth in the coming years.

Global Neurostimulation Devices Market: Overview

The global neurostimulation devices market was valued at ~US$ 6.3 Bn in 2018, and is projected to expand at a high CAGR from 2019 to 2027.

Rise in the number of patients with chronic pain and neurological disorders across the globe and new product developments are anticipated to fuel the growth of the global neurostimulation devices market.

In terms of volume, the global neurostimulation devices market stood at 315,329 units, with spinal cord stimulators accounting for a dominant share, in 2018.

Neurostimulation devices are both, implantable and non-implantable electrical stimulation devices, primarily used to stimulate damaged or injured nerves to restore the normal functioning of specific organs of the body. Neurostimulation device sends mild electric pulses to the damaged nerves at specific parts of brain, spinal cord, and peripheral nervous system to treat various medical conditions.

Neurostimulation devices have applications in the treatment of various neurological disorders such as Parkinson’s disease, Alzheimer’s disease, major depression disorders, hearing impairment, and epilepsy. These devices are also used in the treatment of non-neurological disorders such as urinary incontinence and chronic pain. These are ideal when other treatment options have failed to treat the symptoms of diseases.

The global neurostimulation devices market is expected to be driven by the high prevalence of chronic pain, Parkinson’s disease, urinary incontinence, and overactive bladder. Chronic pain can be caused due to reasons such as neck pain, headache, low back pain, neuropathic pain, peripheral nerve injuries, failed back surgery syndrome, and complex regional pain syndrome. According to ‘the good body’ website, around 1.5 billion people are affected by chronic pain across the globe.

Parkinson’s disease is an age-related neurodegenerative disorder that affects a large number of people across the globe. It is characterized by muscle contraction, which leads to weakening of physical movement, tremors, muscle rigidity, and gait. It can affect multiple systems of the body. China accounts for the largest number of people with Parkinson’s disease in the world. Currently, around 2.5 million people in the country are afflicted with the disease. This number is expected to double by the end of 2030, accounting for 50% of the population with Parkinson’s disease across the globe. Currently, 1.7% of the population of China above the age of 65 is affected by Parkinson’s disease.

Global Neurostimulation Devices Market: Segment Analysis

The global neurostimulation devices market has been segmented based on product, application, end user, and region.

In terms of product, the global neurostimulation devices market has been categorized into spinal cord stimulators, deep brain stimulators, cochlear implants, vagus nerve stimulators, sacral nerve stimulators, percutaneous tibial nerve stimulators, and transcranial magnetic stimulation. The spinal cord stimulators segment is likely to lead the global neurostimulation devices market during the forecast period. High prevalence and increase in incidence rate of chronic pain across the world are the major factors that contributed to the segment’s dominance in 2018.

Based on application, the global neurostimulation devices market has been divided into chronic pain, movement disorders, hearing impairment, epilepsy, urinary incontinence, and major depressive disorders. The chronic pain segment accounted for the largest share of the neurostimulation devices market in 2018, and the trend is projected to continue during the forecast period. Cochlear implants was the second-largest segment of the global neurostimulation devices market. In 2018, around 50,560 units of cochlear implants were implanted across the globe.

In terms of end user, the global neurostimulation devices market has been classified into hospitals, ambulatory surgery centers, and specialty clinics. The hospitals segment dominated the global neurostimulation devices market in 2018, and the trend is anticipated to continue from 2019 to 2027.

Global Neurostimulation Devices Market: Regional Segmentation

In terms of region, the global neurostimulation devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America dominated the global neurostimulation devices market, and is expected to gain market share by the end of 2027. The region’s dominance in terms of market share is attributed to the high prevalence and increase in incidence of chronic pain, movement disorders, and urinary incontinence in the U.S. and Canada, and well-established healthcare facilities. High per capita healthcare expenditure, favorable medical reimbursement policies, and early adoption of technologically-advanced products are attributed to the region’s high share of the global neurostimulation devices market in 2018.

Asia Pacific is projected to be the fastest-growing market for neurostimulation devices during the forecast period. Japan dominated the neurostimulation devices market in the region in 2018. The neurostimulation devices market in China is anticipated to expand at a high CAGR during the forecast period.

Global Neurostimulation Devices Market: Major Players

Companies such as – Medtronic plc, Boston Scientific Corporation, and Abbott Laboratories accounted for major share of the global neurostimulation devices market in 2018. Other global players in the market include Nevro Corp., LivaNova plc, Axonics Modulation Technologies, Inc., Neuropace, Inc., EndoStim, Inc., NDI Medical, Cochlear Limited, and Neuronetics, Inc.

These players are focused on adopting organic and inorganic growth strategies to strengthen their product portfolios. These companies have adopted strategies such as collaborations & acquisitions, expansion of geographical footprint, investment in research & development, and manufacture of novel drugs in order to be competitive in the global neurostimulation devices market.

Key Questions Answered in Global Neurostimulation Devices Market Report

• What is the sales/revenue and volume expected to be generated by different neurostimulation devices across all regions during the forecast period?
• What are the key trends in the neurostimulation devices market?
• What are the major drivers, restraints, and opportunities in the market?
• Which region is set to expand at the fastest CAGR during the forecast period?
• Which segment will have the highest revenue globally in 2027 and which product will expand at the fastest CAGR during the forecast period?

Global Neurostimulation Devices Market – Segmentation

Product

• Spinal Cord Stimulators
• Deep Brain Stimulators
• Cochlear Implants
• Vagus Nerve Stimulators
• Sacral Nerve Stimulators
• Percutaneous Tibial Nerve Stimulators
• Transcranial Magnetic  Stimulators

Application

• Chronic Pain
• Movement Disorders
• Hearing Impairment
• Epilepsy
• Urinary Incontinence
• Major Depressive Disorders

End User

• Hospitals
• Ambulatory Surgery Centers
• Specialty Clinics

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Purchase Complete Report Now@ https://qyresearchmedical.com/report/checkout/111757/2900