Growth Analysis on Neurostimulation devices market| Top Players: Medtronic, Boston Scientific Corporation, Abbott

The Neurostimulation Devices Market is set to exceed USD 16 billion by 2024; according to a new research report by Global Market Insights. Growing prevalence of neurological disorders coupled with adoption of innovative and technologically advanced products should drive the neurostimulation devices market size. Innovative technologies in neurological field can attempt to restore vision, help in movement after paralysis and recover easily from traumatic injury. Technologies for electrically stimulating the nervous system has allowed the patients to be treated for many types of nerve damage thereby augmenting the growth of the neurostimulation devices.

With the advancements in minimally invasive technologies, the demand for minimally invasive neurostimulation procedures is also witnessing rise in demand. Patients with neurological diseases using minimally invasive techniques experience reduced costs of treatment, less pain, and recovery time. This increasing use will provide future growth opportunity and advance the field of neurostimulation devices.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/436

Development of technologically advanced products coupled with increasing equity funding by major industry players will accelerate adoption of neurostimulators and upsurge overall revenue size. However, hardware, biological and programming or therapy related complications associated with neurostimulation devices along with dearth of skilled healthcare professionals will hinder Neurostimulation Devices Market growth over the coming years.

Sacral nerve stimulators are poised to be the fastest growing segment owing to increasing number of people suffering from incontinence disorder coupled with increasing efforts undertaken by industry players to develop advanced sacral nerve stimulators. For instance, Medtronic developed sacral neuromodulation system (SNS) (Interstim) that stimulates the sacral nerve with the help of electric impulse and improve bladder and bowel function.

Incidentally, researchers had been steadily working over the past three years to enable users to grade their muscle contractions to handle delicate objects. This has resulted in the device being able to achieve sophisticated and precise movements of individual fingers. The incidence demonstrates the ability of brain computer interface technology to eliminate human disabilities. Presuming that manufacturers would succeed in bringing the device to the mainstream, it is undeniable that neurostimulation devices market size would soar heights over 2017-2024.

As per the Parkinson’s Foundation, more than 10 million people are estimated to be suffering from Parkinson’s disease. In this regard, research programs in the deep brain stimulation for Parkinson’s disease management has helped in developing new technologies that will not only deliver neurostimulation but also change with the patient’s needs. Currently, a device developed by researchers at University of California called Medtronic with an extra electronic circuit has been found to substantially change the present condition of stimulators used to control the symptoms of Parkinson’s disease. R&D programs such as the aforementioned and the rising significance of deep brain stimulators are certain to change neurostimulation devices market trends over 2017-2024.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/436

Some of the major industry players operating in global neurostimulation devices market are Medtronic, Boston Scientific Corporation, Abbott (St. Jude Medical) and Cyberonics. The industry players attempt to develop innovative solutions for treatment of neurological disorders. For instance, in September 2017, Medtronic launched new product such as Compact Intellis implantable neurostimulation system that is intended to be used as either peripheral nerve or spinal cord neurostimulator for relieving chronic pain. This strategic move extends the existing product portfolio offered by the firm and strengthens revenue growth.

Chapter 1. Methodology

1.1. Methodology

-Initial data exploration
-Statistical model and forecast
-Industry insights and validation
-Market definition and forecast parameters

1.2. Data sources

Secondary
Primary

Chapter 2. Executive Summary

2.1. Neurostimulation devices industry 3600 synopsis, 2013 - 2024

-Business trends
-Product trends
-Application trends
-Regional trends

Browse Full Report@

Chapter 3. Neurostimulation Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024

3.3. Industry impact forces

3.3.1. Growth drivers

-Increasing demand for minimally invasive technologies in the developed countries
-Rising prevalence of neurological disorders in U.S and Europe
-Growing adoption of innovative and technologically advanced products
-Increasing number of elderly patients with neurological disorders in the U.S and European countries

3.3.2. Industry pitfalls & challenges

-Complications associated with neurostimulation devices
-Lack of skilled healthcare practitioners

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

Global Market Insights, Inc.
4 North Main Street
Selbyville, Delaware 19975 USA
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email:sales@gminsights.com