Nerve Stimulator Market | Top Key Players Cochlear ltd, Medtronic PLC, Boston Scientific Corporation Cyberonics, Inc., Aleva Neurotherapeutics SA

The nerve stimulator market is in its preliminary stages of development, as its applications spread to different branches of pain management and treatment. Market Research Future which focuses on market reports associated to the healthcare sector among others recently published a report on this industry. The sector is expected to show growth at a CAGR of 9.7 per cent in the forecast period.

Nerve stimulator market has shown a considerable growth rate in the past few years due to the growing incidences of chronic health problems. Nerve stimulators are used for the treatment of a wide range of problems that can be treated with the stimulation of the nerves. Rising acceptance of minimally invasive procedures has been a key factor in the growth of the market.

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Industry Segments  

The nerve stimulators industry is divided on the category of application, type and end-users.

The type category for nerve stimulators is divided into vagus nerve stimulator (VNS), deep brain stimulator (DBS) and spinal cord stimulator (SCS). The application basis has segregated the market into depression, Parkinson’s disease, dystonia, epilepsy, chronic pain and others.  The end – user’s category of the market is divided into hospital & clinics, ambulatory surgical centers and trauma centers.

Detailed Regional Analysis

The industry for nerve stimulators has the Americas dominating the majority of the market share due to the increasing occurrence levels of chronic diseases, advanced technology, high healthcare spending, and the existence of leading players. The European market holds the second major market share in the market for nerve stimulators. It is estimated that the backing provided by government bodies for research & development initiatives, along with advanced technology is motivating the market in the European region. The Asia Pacific region is estimated to be the most rapidly developing region during the forecast period. Growing need for reasonably priced nerve stimulators, quickly refining technology, and the existence of a vast patient pool are important drivers for the development of the market in Asia Pacific region. The Middle East and Africa holds the minimum share in the sector due to the existence of economically backward countries especially in the African region.

Global Competitive Analysis

The pace of development in the market is set to influence substantial transformation owing to the swift growth pace. The growth can however be achieved and sustained only by adapting and testing plus points. The rivals in the industry are trying to grow their market portion to a huge extent by the efficacious use of their major resources. This outlook has been instrumental for the development of the sector which has set the path for volume driven expansion. The sector’s future growth can be ensured by continuous ongoing process enhancements and maintaining financial fluidity to invest in the top strategies when they become available.

Certain important players in the industry are Cochlear ltd, Medtronic PLC, Boston Scientific Corporation Cyberonics, Inc., Aleva Neurotherapeutics SA, St Jude Medical, Inc., NeuroPace Inc, and others.

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Industry Updates:

Jan 2018 The US Food and Drug Administration have of late passed a device which is a hand-held nerve stimulator which is noninvasive vagus (nVS) gammaCore for the treatment of migraine pain in adults, the maker of the device stated recently. The new 510(k) clearance will grow the device's label indication from treating episodic cluster headache pain alone. The handy device can be positioned over the vagus nerve in the neck as the device releases mild electrical stimulation to the nerve's afferent fibers.

Nov 2017 The health authorities in the US have passed a device for brain-stimulation of patients ailing from incapacitating withdrawal symptoms triggered by addiction to heroin and other opioid forms. The nerve stimulator which is known as NSS-2 Bridge, is the path breaking device in this regard to treat symptoms which include anxiety, insomnia, joint pain and stomach aches. The Food and Drug Administration clearance will make available different avenues for doctors to prescribe the device to patients who dread the withdrawal symptoms that accompany getting off addictive opioids.

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