Press release
Implantable Neurostimulators Market Robust Expansion is expected to 2031
Implantable Neurostimulators Market
According to the latest research by Insightace Analytics, the global implantable neurostimulators market was valued at US$ 5.34 Billion in 2021. It is expected to reach US$ 14.54 Billion by 2030, with a CAGR of 12.11 % during a forecast period of 2022-2030.
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Neurostimulation therapy identifies and treats a wide range of nervous system problems. It aids in the reduction of chronic pain as well as the symptoms of diseases like Parkinson's and epilepsy. Currently, present implantable neurostimulators primarily target deep brain stimulation, vagus nerve stimulation, spinal cord stimulation, and sacral nerve stimulation. These devices are surgically implanted into the patient's organs and used to administer electrical stimulation to the patient's brain, spinal cord, and peripheral nervous system to alter the activity of brain cells and nerve fibers. Consequently, implantable neurostimulators are suggested as a treatment option for diseases or ailments that do not respond to medication therapy.
The main reasons to drive the market are improvements in minimally invasive neurosurgery operations and illnesses like epilepsy, Parkinson's disease, chronic pain, movement disorders, and depression. Due to its expanding uses for treating chronic neurological illnesses and conditions such as neuropathic pain, nociceptive pain, epilepsy, urine incontinence, depression, and Parkinson's disease, implantable neurostimulators are in high demand (PD). Implantable neurostimulators have been vital in delivering treatment options for Parkinson's disease, depression, epilepsy, and other connected disorders.
This is projected to drive the market for implantable neurostimulators throughout the forecast period. It is anticipated that increased patient outcomes will increase demand for minimally invasive neurosurgeries and accelerate the market adoption of implantable neurostimulators. In recent years, neurological illnesses, lifestyle-related disorders, and the need for minimally invasive surgeries have all increased in nations like the U.S. and Canada. The market for implantable neurostimulators is primarily driven by the increase in persons suffering from conditions like Parkinson's disease, spinal cord injury, urine incontinence, migraine, and depression. The market for implantable neurostimulators is anticipated to expand rapidly as neurological illnesses become more prevalent. This is anticipated to fuel market expansion for implantable neurostimulators during the forecast period.
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North America is anticipated to be the major contributor to the implantable neurostimulators s market over the forecast years. Significant market trends in the area include the creation and introduction of novel neurostimulators, regulatory agency approval of new device technologies, and the presence of well-established healthcare infrastructures. The market for implantable neurostimulators in North America is also anticipated to be driven by the increased prevalence of several illnesses, including chronic pain, urine incontinence, Parkinson's disease, and epilepsy, as well as advantageous reimbursement situations in healthcare settings. In addition, the Asia Pacific implantable neurostimulators market is expected to grow significantly during the forecast period. This is due to several causes, including an increase in the prevalence of neurological illnesses and the growing elderly population in this area. Additionally, efforts by both public and private organizations to increase awareness of mental health are fostering business expansion in this area.
Major market players operating in the implantable neurostimulators market include
Cyberonics, EnteroMedics, Axonics Modulation Technologies, Imthera, IntraPace, NeuroPace, Nevro Corp., SPR Therapeutics, Nuvectra, LivaNova, Medtronic, Inspire Medical, and Stimwave, among others.
Recent collaborations and agreements in the market:
• In March 2020, the MRI labeling for NeuroPace, Inc.'s RNS System received FDA approval in the United States. More than a million Americans who suffer from seizures and do not react to medicines will now have access to more treatment alternatives.
• In November 2019, the Senza Omnia Spinal Cord Stimulation system to the American market by Nevro Corporation following FDA approval in the United States. It is designed to administer HF10 treatment to treat chronic pain.
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Market Segments
Global Implantable Neurostimulators Market, by Product Type, 2022-2030 (Value US$ Mn)
• Myostimulation
• Peripheral Nerve Stimulation
• Spinal Cord Stimulation
• Brain Stimulation
Global Implantable Neurostimulators Market, by End-User, 2022-2030 (Value US$ Mn)
• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
Global Implantable Neurostimulators Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Implantable Neurostimulators Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Implantable Neurostimulators Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Implantable Neurostimulators Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Implantable Neurostimulators Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Implantable Neurostimulators Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of the Middle East & Africa
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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Tel : +1 551 226 6109
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info@insightaceanalytic.com
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