Neurostimulation Devices Market Overview, High Growth Opportunities, Segmentation, Trends By 2022-2031

Chronic Pain Application Segment Leads the Neurostimulation Devices Market

Cost effectiveness and time efficient nature of smart implants is attracting further attention in the global neurostimulation devices market, particularly for the treatment of Parkinson’s disease. Segments in the global neurostimulation devices market based on the application include movement disorders, epilepsy, major depressive disorders, chronic pain, hearing impairment, and urinary incontinence. The chronic pain segment held the largest share in the global neurostimulation devices market in the year of 2018. The same is anticipated to lead the global neurostimulation devices market in coming years. The second largest share of the global neurostimulation devices market was attributed to cochlear implants, with over 50,560 units implanted over the globe in 2018. Major end users for the products in the global neurostimulation devices market include hospitals, specialty clinics, and ambulatory surgery centers or ASCs. The hospitals segment dominated the global neurostimulation devices market in 2018 and the same is projected to dominate the industry over the forecast period.

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North America to Dominate Neurostimulation Devices Market over the Forecast Period

Key regions evaluated in the research report on the global neurostimulation devices market include Europe, Latin America, North America, Asia Pacific, and Middle East and Africa. Regionally, North America is anticipated to continue its dominant position in the global neurostimulation devices market over the forecast period. This leading market position can be attributed to rising prevalence as well as high incidence of chronic pain movement disorders as well as increasing cases of urinary incontinence in Canada and the United States. Other factors fueling the demand in the North America neurostimulation devices market include high per capita expenditure on health care, well established medical and healthcare facilities in the region, early adoption of technologically enhanced medical products, and presence of favorable reimbursement medical policies in the region.

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Players in Neurostimulation Devices Market Engaged in R&D and Novel Drug Manufacturing

Leading players and manufacturers assessed in the business intelligence study on the global neurostimulation devices market include Boston Scientific Corporation, Nevro Corp, Axonics Modulation Technologies, Inc., EndoStim, Inc., Cochlear Limited, Medtronic PLC, Abbott Laboratories, LivaNova PLC, Neurospace, Inc., Neuronetics, Inc., and NDI Medical. Among these, Medtronic PLC, Abbott Laboratories, and Boston Scientific Corporation combined amounted for the leading share in the global neurostimulation devices market in the year of 2018. Majority of the players and vendors in the global neurostimulation devices market are adopting various organic as well as inorganic development strategies to strengthen their industry positioning. Strategies and techniques adopted by the players in the global neurostimulation devices market include collaborations, geographical expansion, manufacturing of novel drugs, acquisitions, and rising investments in research and development activities.

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Global Neurostimulation Devices Market: Research Scope

Neurostimulation Devices Market by Product

• Spinal Cord Stimulators
• Deep Brain Stimulators
• Cochlear Implants
• Vagus Nerve Stimulators
• Sacral Nerve Stimulators
• Percutaneous Tibial Nerve Stimulators
• Transcranial Magnetic Stimulators

Neurostimulation Devices Market by Application

• Chronic Pain
• Movement Disorder
• Hearing Impairment
• Epilepsy
• Urinary Incontinence
• Major Depressive Disorder

Neurostimulation Devices Market by End User

• Hospitals
• Ambulatory Surgery Centers
• Specialty Clinics

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