Increase in prevalence of neurological disorders and surge in investments in research and development activities drive the global neurostimulation devices market.
The global neurostimulation devices market garnered $4.38 billion in 2018, and is estimated to reach $11.25 billion by 2026, portraying a CAGR of 12.5% from 2019 to 2026. The research provides an extensive analysis of changing market dynamics, key investment pockets, value chain, key segments, and competitive landscape.
Increase in prevalence of neurological disorders and surge in investments in research and development activities drive the global neurostimulation devices market. However, fatal effects and risks related to neurostimulation devices restrain the market growth. On the other hand, usage of neurostimulators for new indications creates new opportunities in the coming years.
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Covid-19 Scenario:
- Shortage of raw materials supply would affect the production of neurostimulation devices. Many raw materials and electronic components have been imported from China, in which, there are restrictions on export, and production factories have been closed due to lockdown.
- Governments have been urging manufacturers to look out for other options and alternative sources to fulfill the need of necessary components.
The report offers a detailed segmentation of the global neurostimulation devices market based on device type, application, and region.
On the basis of device type, the spinal cord stimulators segment accounted for nearly half of the total market share in 2018, and is expected to maintain its leadership status throughout the forecast period. Moreover, this segment is expected to portray the highest CAGR of 11.8% from 2019 to 2026. The research also discusses segments including deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and others.
Based on application, the pain management segment is expected to portray the highest CAGR of 14.5% from 2019 to 2026. Moreover, this segment held the highest market share with nearly one-third of the global neurostimulation devices market revenue in 2018, and is estimated to maintain its dominant share during the forecast period.
Based on region, North America accounted for the highest share based on revenue, contributing for nearly two-fifths of the total share in 2018, and is estimated to continue its lead position throughout the forecast period. On the other hand, Asia-Pacific would portray the largest CAGR of 14.6% from 2019 to 2026.
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The market report provides an in-depth analysis of the major market players such as
- Abbott Laboratories
- Boston scientific corporation
- Aleva neurotherapeutics SA
- NeuroSigma, Inc.
- EndoStim Inc.
- ElectroCore Inc.
- NeuroPace Inc.
- Medtronic plc
- Neuronetics Inc.
- Nevro Corporation
- Synapse Biomedical Inc.
Scope of The Report:
| Report Attribute | Details |
| Market size available for years | 2018-2026 |
| Base year considered | 2019 |
| Forecast period | 2019-2026 |
| Forecast units | Value (USD) |
| Segments covered | Device Type, Application |
| Geographies covered | North America, Europe, Asia-Pacific, LAMEA |
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