Neurostimulation Devices Market 2018: Study on Eminent Players | Cyberonics, St. Jude Medical, Medtronic, Neuronetics, Uroplasty, Boston Scientific and Codman & Shurtleff’s

Neurostimulation Devices Market to exceed USD 13 billion by 2023 as per a new research report.
Increasing prevalence of neurological disorders coupled with growing application of neurostimulator treatment for obesity should drive neurostimulation devices market over forecast timeframe. Concept of neurostimulation to distress working of organs is being widely used for medical practices to treat numerous disorders such as, epilepsy, multiple sclerosis, Parkinson's disease and chronic pain.

Patenting activities related to vagus nerve stimulation are growing at substantial rate, along with rising scope and opportunities in splanchnic nerve stimulation, for the new entrants should further drive industry growth over the forecast period. Rising adoption of unhealthy eating habits associated with metabolic syndromes are the factors which will fuel business growth.

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The increasing prevalence of chronic conditions such as, Parkinson’s disease, Alzheimer’s disease, dystonia, neuromuscular disease and Huntington’s disease further propel neurostimulation devices market growth.
High cost associated with neurostimulation devices and stringent regulatory framework may restrain industry growth. Many aspects of neurostimulation offer scope for research and development such as, non-invasive neuromodulation, non-invasive brain stimulation and neurophysiological effects which will also provide future opportunities for business growth.

The vagus nerve stimulators will experience significant growth over the forecast period. The growth is attributed due to the treatment offered and benefits such as, reduces seizures for some patients, decrease need for frequent medication and reduced side effects such as depression, dizziness and sleepiness, ensures less risk for epileptic brain surgery.

Neurostimulators has wide range of application in epilepsy, Parkinson’s disease, tremor, complex regional pain syndrome (CRPS), migraine, gastroparesis, depression, dystonia and pain management. The gastroparesis application is boosting due to its benefits that include promotes stimulation for stomach smoothing of muscles and improved quality of life of patients.

Urinary and fecal incontinence accounted for lucrative growth owing to the availability of diagnosis and treatment along with Medicare policies for incontinence control devices, electrical continence, bladder stimulators and pacemakers.

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U.S. neurostimulation devices Market is growing considerably due to the high investment in R&D for enhanced products and solutions, and increasing occurrence of epilepsy and Parkinson’s disease in the U.S.
UK and Germany should grow at substantial rate owing to the technological advancement concerning central nervous system (CNS) lesions and upper motor lesions. For instance, multiple sclerosis, stroke, head injury where walking activity is a challenging task for patients. Moreover, the advancements such as, application of the functional electrical stimulation (FES) that avoids the conditions of paralysis and drop foot.

Some of the companies operating in neurostimulation devices includes Cyberonics, St. Jude Medical, Medtronic, Neuronetics, Uroplasty, Boston Scientific and Codman & Shurtleff’s. Competitors in neurostimulation devices market might experience barriers, mainly due to the dominance by limited key players.

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