Neurostimulation Devices Providing Immediate Relief by Blocking Pain Signals
Neurostimulation devices are used for the treatment of epilepsy, neurological urinary and fecal incontinence, gastroparesis, hearing loss, depression, Alzheimer’s disease, and Parkinson’s disease. These devices are primarily used to manage pain in patients living with several medical conditions. The increasing prevalence of such neurological conditions will, therefore, aid the neurostimulation device market in growing from $5,656.1 million in 2015 to $13,154.1 million by 2022, at a CAGR of 12.9% during 2016–2022. These devices manage pain by blocking the pain signals before they reach the brain.
Moreover, recent developments in neuroimaging and neurotechnology and enhanced understanding of neurocircuitry will amplify the usage of such devices for treating a wide range of psychiatric and neurological diseases. The surging need for advanced neurostimulation devices has resulted in hefty investments in research and development (R&D) by manufacturers, including ImThera Medical, MED-EL GmbH, Neuronetics Inc., Aleva Neurotherapeutics SA, Cochlear Ltd., St. Jude Medical Inc., Boston Scientific Corporation, Synapse Biomedical Inc., Neurosigma Inc., Medtronic PLC, NDI Medical LLC, LivaNova PLC, and EnteroMedics Inc.
Neurostimulation Device Market Regional Opportunities Report
In recent years, the application of non-invasive neurological devices has significantly increased in the treatment of depression, attention-deficit/hyperactivity disorder (ADHD), autism spectrum disorder, and other similar disorders among children and adolescents, globally. Whereas, invasive devices like VNS and DBS have proven efficient in treating epilepsy and dystonia among young patients. With the constant developments in the invasive remodulation technology, the application of internal devices and implants will amplify in the coming years. This would also help in expanding the current knowledge base of neurocircuitry in the future.
Thus, the rising prevalence of neurological disorders and increasing investments in R&D will amplify the usage of internal and external neurostimulation devices in the foreseeable future.
This study covers
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings