North America Internal Neuromodulation Devices Market – Trends and Forecast With Global Players Like Boston Scientific, Medtronic, St. Jude Medical, Nevro, Cyberonics among other
The North America Internal Neuromodulation devices market is driven by the rising incidence of orthopedic and muscoskeletal disorders such as failed back surgeries, and niche disease indications such as Alzheimer, Parkinson among others. The need of pain management and the inclusion of pain as the fifth vital factor have boosted the requirement of neuromodulation devices in this market.
Also the market is experiencing a rising surge of technological advancements such as the new internal neuromodulation device from Enteromedics for the treatment of obesity related disorders. The market is expecting a exponential growth in the coming years owing to its clinical results. The internal neuromodulation markets growth is focused upon expansion of application of these devices.
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The North America internal neuromodulation market is also technological driven, there are current innovations in lead materials and designs. For instance on 9th June 2015, WISE Srl, a privately held company developed new generation of implantable leads for Neuromodulation and Neuromonitoring.
The electrodes are highly biocompatible, foldable, stretchable, minimally invasive and cheaper to produce than existing products and will overcome the major limitations of today’s technology. They will allow improving the treatment of patients that are already profiting from Neuromodulation, while at the same time expanding the use of Neuromodulation to fields and clinical indications in which the complex technical demands cannot be met by the current technology.
On July 2, 2015, MESA International, MESA® 2 is K2M’s next-generation pedicle screw system. The system features a top-loading, low-profile screw that offers a dual-lead thread pattern for fast insertion. Companies such as Stimwave Technologies Incorporated, St. Jude Medical, and StimGuard LLC among others have started developing wireless conversions for the navigation of the therapy.
The market is segmented based on product type, battery type, lead type, by indication, by end user and by geography.
The Internal neuromodulation devices market is segmented into 5 product types Spinal Cord Stimulator, Deep Brain Stimulator, Vagus Nerve Stimulator, Sacral Nerve Stimulator and Gastric Nerve Stimulator. The Spinal Cord Stimulator segment dominates the internal neuromodulator devices market with more than 65% market share in 2015 and is expected to grow at the highest CAGR in the forecast period 2016 to 2024 globally followed by deep brain stimulator and vagus nerve stimulator.
The market is further segmented based on indications of usage into failed back surgery syndrome, conditional regional pain syndrome, eschemia, Parkinson’s disease, Alzheimers, urinary incontinence, faecal incontinenece, epilepsy, gastroparesis and others. The product segments are further divided into rechargeable and primary battery types also for spinal cord stimulators the market is divided into 2 lead types percutaneous and paddle lead.
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Based on geography the North America Internal Neuromodulation devices market is segmented into 3 countries U.S., Canada, Mexico. U.S. is the largest and the highest growing market with 92.1% market share in 2015 anf growing at 13.9% in the forecast period 2016 to 2024.
The North America Internal Neuromodulation devices market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market. Some of the major players operating in this market are Medtronic, Boston Scientific Corporation, St. Jude Medical, Inc., Nevro Corporation, Cyberonics, Inc. among other companies. The emerging entrant companies in the U.S. internal neuromodulation market are Neuros Medical, Inc. (U.S.), Inspire Medical Systems Inc. (U.S.), StimGuard LLC (U.S.), SPR Therapeutics LLC (U.S.), Neuros Medical Inc. (U.S.).
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