Global Neurostimulation Devices Market overview
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Drivers and restrictions:
The global market of neurostimulation devices will depend mainly on the increasing incidence of neurological diseases and the increase in the frequency of chronic pain and discomfort. On the contrary, factors such as the growth in the geriatric population, the greater awareness of a better neurological treatment and the improvement of the functionality of neurostimulation devices should also influence the overall market growth during the prognosis period. In contrast, the side effects and risks associated with neurostimulation therapy and the availability of other treatment options for neurological disorders are among the negative factors that can hamper market growth.
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Based on geography, the global neurostimulation devices market is segmented into four key regions namely North America, Asia Pacific, Europe and rest of the world (RoW). North America is in pole position of the global neurostimulation devices market, which is largely attributed to the growing prevalence of neurological disorders in the region. In addition, various private and government organizations in the region are frequently running awareness campaigns on neurological disorders and associated health impediments. Likewise, availability of advanced treatments is also adding up significantly to the market growth in the region. The neurostimulation devices market in Europe, is largely expanding due to several healthcare initiatives taken by various public organizations to improve the healthcare sector in the region. Further, the market in Asia Pacific is expected to register the fastest growth rate during the forecast period primarily due to the increasing incidences of neurological disorders such as arthritis and osteoporosis in countries such as Japan and China.
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Key Players for Neurostimulation Devices Market:
Key manufacturers identified in the global neurostimulation devices market include Boston Scientific Corporation, St. Jude Medical, Inc., Cochlear, Ltd., Medtronic, Plc, NDI Medical, LLC, MED-EL., Cyberonics, Inc., NeuroSigma, Inc., and NeuroPace, Inc.
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