Global Internal Neuromodulation Devices Market Analysis to Worth USD 12.18 Billion by 2024
The Global Internal neuromodulation market is expected to reach USD 12.18 billion by 2024, from 4.12 billion in 2016 growing at the CAGR of 14.5% in the forecast period 2017 to 2024.
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The Global Internal Neuromodulation Devices Market is driven by the rising incidence of failed back surgeries, Parkinson’s disease, urinary incontinence and other related indications. Also the market is experiencing a rising surge of technological advancements such as the new internal neuromodulation device from Enteromedics for the treatment of obesity related disorders. The market is in its lag phase very soon expected to enter the growth phase, due to major influx of market players in the recent years.
Some of the major Companies operating in the Global Internal Neuromodulation Devices Market are:
• Boston Scientific Corporation
• St. Jude Medical, Inc.
• Nevro Corporation
• Cyberonics, Inc.
• Neuros Medical, Inc.
• Inspire Medical Systems Inc.
• StimGuard LLC
• SPR Therapeutics LLC
• Neuros Medical Inc.
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Market Segmentation: Global Internal Neuromodulation Devices Market
The Internal Neuromodulation Devices Market is segmented into 5 product types Spinal Cord Stimulator, Deep Brain Stimulator, Vagus Nerve Stimulator, Sacral Nerve Stimulator and Gastric Nerve Stimulator.
The Spinal Cord Stimulator segment dominates the internal neuromodulator devices market globally followed by deep brain stimulator and vagus nerve stimulator.
The market is further segmented based on indications of usage into Failed Back Surgery Syndrome, Conditional Regional pain syndrome, Eschemia, Parkinson’s disease, Alzheimers, Urinary Incontinence, Faecal Incontinenece, Epilepsy, Gastroparesis and others. The product segments are further divided into rechargeable and primary battery types also for spinal cord stimulators the market is divided into 2 lead types percutaneous and paddle lead.
Geographical Segmentation: Global Internal Neuromodulation Devices Market
Based on geography the Global Internal Neuromodulation Devices Market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. North America is the largest market while Asia-Pacific is the fastest growing market due to the large incidence of Parkinson’s disease in the Asian countries like China. Europe is a developed market with increasing demand for these devices due to good reimbursement scenarios and medical tourisms in countries like Germany, Ireland, Netherlands and others.
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The Global Internal Neuromodulation devices market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market.
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