Global Neurostimulation Devices Market was valued at USD 5.82 billion in 2021

Global Neurostimulation Devices Market was valued at USD 5.82 billion in 2021
Global Neurostimulation Devices Market was valued at USD 5.82 billion in 2021, growing at a CAGR of 11.77% during the forecast period from 2022 to 2027, to reach USD 11.34 billion by 2027. The demand for Neurostimulation Devices Market is primarily motivated by the increasing incidence of chronic diseases, such as migraine and epilepsy, escalating product demand as add-on therapy, prevalence of lifestyle diseases such as depression and chronic pain, adoption of technologically advanced products, and rising geriatric population.

Neurostimulation Devices Overview
Neurostimulation devices are implantable or non-implantable medical devices that provide electrical stimulation to specific parts of the patient's brain, spinal cord or peripheral nervous system to treat numerous conditions, including chronic pain, movement disorders, epilepsy and Parkinson's disease.

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Recent Developmental Activities in Neurostimulation Devices Market:
• In August 2021, Merck announced a collaboration in its new Bioelectronics innovation field with neuroloop GmbH, a B. Braun subsidiary, to develop a neurostimulator device that can complement the existing drug therapies of patients with chronic inflammatory diseases.
• In August 2021, the US Food and Drug Administration (FDA) has expanded indication for noninvasive BrainsWay Deep Transcranial Magnetic Stimulation (Deep TMSTM) System to include treatment of comorbid anxiety symptoms in adult patients with depression.
• In July 2021, Unity HA received Breakthrough Device Designation by FDA for the Pulsante® SPG Microstimulator System for the treatment of acute pain associated with chronic cluster headaches.
• In July 2021, Nevro Corp. received FDA approval for its Senza® System for the treatment of chronic pain associated with Painful Diabetic Neuropathy (PDN).

Key Takes Away from the Neurostimulation Devices Market Report Study
• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Neurostimulation Devices Market.
• Various opportunities available for the other competitor in the Neurostimulation Devices Market space.
• What are the top performing segments in 2021? How these segments will perform in 2027?
• Which is the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for market growth in the coming future?

Neurostimulation Devices Market
It is expected to grow at a steady CAGR Forecast till 2027 owing to increasing incidence of Chronic Diseases and escalating product demand as add-on therapy.

Neurostimulation Devices Market Dynamics
Neurological disorders, consisting of stroke, brain and other nervous system cancers, traumatic brain injury, spinal cord injury, Alzheimer's disease and other dementias, Parkinson's disease, epilepsy, migraine, among others, are the leading cause of disability. Stroke is the second leading cause of death worldwide. The absolute number of people affected by, or remaining disabled from neurological disorders over the past 25 years has been increasing globally, as per the Global Burden of Disease Study 2019. These disorders are increasingly recognized as one of the most prevalent disorders with high burden to the patients, their families, and society. As per the data published by the Epilepsy Centre in 2020, around 50 million patients are living with epilepsy worldwide and around 2.4 million new cases are diagnosed annually.

Neurostimulation Devices Market Factors
An aging population contributed to the increase in numbers. As per the recent survey, Global Population Aging 2020 Report (United Nations, 2020), the aging population tends to grow at an alarming pace. In 2020, there were around 727 million individuals in the world aged 65 years or older. By 2050, the figure of such patients is expected to double and reach 1.5 billion by 2050. Thus, all these factors are projected to drive the growth of the neurostimulation devices market.
Certain factors such as the surgical complications during implantation of the devices, high cost of the products, less awareness in low-economic countries, high chances of infections, and product getting recalled, pose as a minor hurdle for the neurostimulation devices growth of the market.

Neurostimulation Devices Segment Analysis
• Neurostimulation Devices Market By Device Type (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and Others)
• Neurostimulation Devices Market By Application (Pain Management, Bowel and Bladder Control, Parkinson's disease, Epilepsy, and Others)
• Neurostimulation Devices Market By Type (Invasive, and Non-Invasive), By End User (Hospitals, Ambulatory Surgical Centres and Others)
• Neurostimulation Devices Market By Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In devices type segment, spinal cord stimulators is expected to hold a largest share in the market as neurostimulation devices. The increased use of spinal cord stimulators, also known as dorsal column stimulation, for treating neuropathic pain and spinal injuries is contributing to this segment's growth. The therapy is more intrusive than percutaneous injection therapy but less invasive than back surgery and uses pulsed electrical energy near the spinal cord to manage pain.

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Table of content
1. Neurostimulation Devices Market Report Introduction
2. Neurostimulation Devices Market Executive summary
3. Regulatory and Patent Analysis
4. Neurostimulation Devices Market Key factors analysis
5. Neurostimulation Devices Porter's Five Forces Analysis
6. COVID-19 Impact Analysis on Neurostimulation Devices Market
7. Neurostimulation Devices Market layout
8. Neurostimulation Devices Global Company Share Analysis - Key 3-5 Companies
9. Neurostimulation Devices Company and Product Profiles
10. Project Approach
11. KOL Views
12. DelveInsight Capabilities
13. Disclaimer
14. About DelveInsight

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