Neurostimulation Devices Market Top Players – Boston Scientific Corporation, Medtronic, St Jude Medical, Bayer Corporation, Cyberonics, Interpace, Inc., Neuronetics, Inc., Nevro Corp., Uroplasty, ImThera Medical Inc., Neuropace
Owing to the exponential rise in the incidences of neurological diseases among the geriatric population, neurostimulation devices market has attained significant popularity over the past few years. The rising demand for minimally invasive technologies across developed nations for treating neurological disorders has compelled neurostimulation devices industry players to come up with innovative products. Advantages offered by minimally invasive surgeries (MIS) including smaller incisions, minimized risk of complications, lower operative pain, and reduced hospital stays have been among the prominent factors to have boosted the growth prospects of neurostimulation devices market.
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Citing an instance to highlight the dire need of developing such pathbreaking technologies, the London headquartered medical devices manufacturer LivaNova has recently inked a USD 225 million deal to acquire ImThera Medical. With the latest takeover, LivaNova reportedly intends to add aura6000, a neurostimulator implant that has been developed to treat obstructive sleep apnea, to its existing product portfolio. Given the fact that aura6000 stimulates the tongue through the hypoglossal nerve during sleep, the implant has garnered a rather commendable appreciation across the neurostimulation devices industry.
How innovative product launches have been reshaping the neurostimulation devices industry landscape
With the rapid influx of globally-renowned medical device manufacturers in the fast-evolving neurostimulation devices market, the clinal proof of effectiveness of the products has gained immense significance. Moreover, the current competitive scenario of this business space has necessitated leading market participants to launch unique products and secure regulatory approval in lesser timespan. Following is a brief summary of how neurostimulation devices industry players have been proactive in releasing cutting-edge products in the recent past:
• Regarded as one of the foremost neurostimulation devices market giant, Boston Scientific Corporation has recently announced to have received the U.S. FDA’s approval for its Vercise™ Deep Brain Stimulation (DBS) System. The system would apparently be deployed to treat Parkinson’s disease, a degenerative condition that affects more than 10 million people worldwide and approximately one million in the USA. Powered by a device called an implantable pulse generator, DBS works by stimulating specific regions of the brain via implant leads. The approval marks an important step for patients who will now have the choice to be treated with more adaptable neurostimulation device.
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• The Illinois based healthcare multinational, Abbot
t has recently declared to have launched its Proclaim™ DRG Neurostimulation System in Europe. The revolutionary system has been developed to treat chronic neuropathic pain by dorsal root ganglion (DRG) stimulation. The Proclaim DRG Neurostimulation System provides a more innate therapy experience, given that it has been equipped with iOS™ software and Bluetooth® wireless technology. The system is said to enhance the experience of how patients interact with their device compared to existing systems with outdated controllers that are problematic to operate. Apparently, the launch of Proclaim DRG Neurostimulation System would undoubtedly impel the Europe neurostimulation devices industry growth in the ensuing years.
• Touted as the smallest implantable spinal cord stimulator across the neurostimulation devices market, Medtronic’s Intellis system has reportedly secured regulatory approval in Europe. The system can be utilized to treat either peripheral nerve or spinal cord neurostimulation, relieving chronic pain. The Intellis implant offers both low-dose and high-dose therapy, depending on the needs of the patients. Furthermore, it also helps physicians to improve how the therapy targets pain by tracking patient activity.
With the advancements in technological innovations coupled with soaring elderly patient base across the globe, the neurostimulation devices industry is bound to accrue substantial remuneration over the estimated timeframe. In fact, as per a research report compiled by Global Market Insights, Inc., the overall neurostimulation devices market is forecast to surpass a total revenue portfolio of USD 16 billion by 2024.
Chapter 1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition and forecast parameters
1.2. Data sources
Chapter 2. Executive Summary
2.1. Neurostimulation devices industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. Neurostimulation Devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
22.214.171.124. Increasing demand for minimally invasive technologies in the developed countries
126.96.36.199. Rising prevalence of neurological disorders in U.S and Europe
188.8.131.52. Growing adoption of innovative and technologically advanced products
184.108.40.206. Increasing number of elderly patients with neurological disorders in the U.S and European countries
3.3.2. Industry pitfalls & challenges
220.127.116.11. Complications associated with neurostimulation devices
18.104.22.168. Lack of skilled healthcare practitioners
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By application
3.5. Pricing analysis
3.6. Regulatory landscape
3.7. Porter’s analysis
3.8. Company market share analysis, 2016
3.8.1. Strategy dashboard
3.9. PESTEL analysis
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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