Value Chain Analysis 2019 - Neurostimulation Devices Market with Key Players: Medtronic, Boston Scientific Corporation, Abbott
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Epilepsy segment will also witness significant growth in the future. Lifestyle factors such as increasing number of patient population, availability of new therapeutic procedures further escalates the growth of this segment over the forecast timeframe.
Spinal cord stimulator dominated market in 2016 and is anticipated to grow at approximately 12.2% CAGR over the forecast period. This growth is attributed to increasing number of people suffering from chronic leg and back pain as well as rising awareness about spinal cord stimulator. Technological advancements such as AdaptiveStim technology and rechargeable spinal cord stimulators will favour segmental growth.
Deep brain stimulators market size will witness robust growth over the forecast timeframe. Rising incidences of neurological diseases coupled with increasing investment towards development of deep brain stimulators will further proper industry growth. According to Parkinson’s Foundation, over 10 million people globally suffer from Parkinson’s disease and over 60,000 people in the U.S. are diagnosed with the disease every year.
U.S. Neurostimulation devices market accounted for largest regional share in 2016 owing to high prevalence of neurological disorders. Neurostimulation devices market in Canada witness considerable growth over the forecast period. Rapid technological innovation and its adoption are some of the major features of Canadian health system. Modern solutions for neurological disorders such as neurostimulation devices are amongst the rapidly evolving healthcare offerings in the country.
UK neurostimulation devices market should grow at robust rate due to increasing geriatric population along with rising incidences of neurological disorders that fuels the adoption of neurostimulation devices. Growing demand for minimally invasive procedures, technological advancements pertaining to neurostimulation devices and modernization of healthcare infrastructure will further boost market growth.
Germany Neurostimulation devices market accounted largest regional share in 2016 and is expected to witness considerable growth over the forecast period. Short market approval period and cost-effectiveness of clinical research in the country enable medical devices companies to rapidly introduce new technology-based devices into the German neurostimulation devices market. Moreover, favourable reimbursements on neurostimulation devices should augment adoption rate in coming years. Also, high per capita income should enable people to avail the advantages of minimally invasive neurostimulators, resulting in growing demand during the forecast period.
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Neurostimulation Devices Market by Product
Sacral nerve stimulators
Spinal cord stimulators
Gastric electric stimulators
Deep brain stimulators
Vagus nerve stimulators
Neurostimulation Devices Market by Application
Urinary and fecal incontinence
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