Mainstay Medical Announced the Launch of Reactiv8 Implantable Restorative Neurostimulation System for Neurostimulation Devices Market

The growing prevalence of Parkinson’s disease is projected to propel the growth of the neurostimulation devices market. According to the Parkinson's Foundation, around 1 million people in the U.S. will suffer from Parkinson's disease by 2020. It also reports that around 60,000 Americans are diagnosed with Parkinson's disease each year. The Parkinson's Foundation also estimates that 1.2 million people in the U.S. are expected to develop Parkinson's disease by 2030. According to the Global Burden of Disease study in 2018 reports that neurological disorders were the leading source of disability around the world, and the fastest-growing of these disorders is Parkinson's disease.

1. In March 2021, Abbott announced the U.S. launch of NeuroSphere™ Virtual Clinic, a first-of-its-kind technology that allows patients to communicate with physicians, ensure proper settings and functionality, and receive new treatment settings remotely as needed
2. In January 2021, FDA has granted breakthrough status to two medical devices aimed at Alzheimer's disease patients.
3. In June 2021, Mainstay Medical announced the commercial launch of its ReActiv8 implantable restorative neurostimulation system in the U.S.

Neurostimulation Devices Market Worth $27.73 Billion, Globally, by 2028 at 11.5% CAGR

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Global Neurostimulation Devices Market on the basis of product, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Sacral Nerve stimulator
Spinal Cord Stimulator
Vagus Nerve Stimulator
Gastric Electric Stimulators
Deep Brain Stimulators

Application Outlook (Revenue, USD Billion; 2017-2027)
Epilepsy
Depression
Dystonia
Gastroparesis
Pain management
Urinary and Fecal Incontinence
Essential Tremor
Parkinson’s Disease
Others

North America is expected to hold the dominant position in the global neurostimulation devices market owing to the product launches by key players. For instance, in January 20201, Boston Scientific received FDA approval for its fourth-generation Vercise Genus Deep Brain Stimulation (DBS) System used to treat symptoms in patients with advanced Parkinson’s disease

Key players engaged in the global neurostimulation devices market include Virtual Medical Centre Inc., Neurosigma, Boston Scientific Corporation, St. Jude Medical Inc. (Abbott), NDI Medical, electroCore LLC, Electro Medics, Endostim Inc., and NeuroPace, Inc.

Neurostimulation is a new product that has been on the market for approximately five years. It is an exciting new product that can provide a large number of benefits for those with neurological disorders or other medical needs. As a result, Neurostimulation Devices sales are increasing daily and experts are continuously adding Neurostimulation Devices to their product line. This type of neurostimulation can provide significant benefits to patients with a wide range of neurological disorders. The neurostimulation devices include sales of medically or surgically installed neurostimulators and other relevant services. These include the recording, analysis, and interpretation of brain wave patterns for studying brain function. They are used for pre-injury treatments, such as stroke recovery or patients with severe psychiatric disorders.

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This release was published on openPR.