Seattle, WA -- (SBWIRE) -- 11/11/2019 -- Neurostimulation Devices Market – Insights
Neurostimulation therapy mitigates chronic pain associated neurological disorders such as Parkinson's disease, epilepsy, nociceptive pain, neuropathic pain, and depression. It also offers better outcome against paralysis, obesity, and severe loss of sensory organs. Neurostimulation devices include implantable and non-implantable devices and are widely used in neural prosthetics for artificial vision, artificial limbs, and hearing aids. These devices are surgically inserted into organs and are operated with the help of thin wires in order to deliver chemical, electrical or other agents that reversibly alter nerve cell activity and brain cells. Most common neurostimulation devices include, intracranial stimulation, peripheral nerve stimulation (PNS), Spinal cord stimulation (SCS), deep brain stimulation (DBS), and motor cortex stimulation. SCS finds application in failed back surgery, pain due to peripheral neuropathy, and pain due to low supply of blood to the limb, chest pain, urinary incontinence, and occipital neuralgia.

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Neurostimulation Devices Market Taxonomy

Global Neurostimulation Devices Market by Device Type
- Deep Brain Stimulators
- Gastric Electric Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Spinal Cord Stimulators
- Others
Global Neurostimulation Devices Market by Application
- Parkinson's Disease
- Depression
- Essential Tremor
- Urinary and Fecal Incontinence
- Gastroparesis
- Others
Global Neurostimulation Devices Market by End User
- Hospitals
- Rehabilitation Centers
- Medical Clinic
Global Neurostimulation Devices Market by Geography
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa

Neurostimulation Devices Market – Drivers

High prevalence of neurological disorders is expected to boost growth of the market. For instance, according to the European Brain Council, worldwide around 6.3 million people were suffering from Parkinson's disease in 2015 and the number is expected to increase steadily in the near future. DBS finds application in the treatment of Parkinson's plus syndromes. Moreover, according to the National Institutes of Health (NIH), around 50,000 people were suffering from Parkinson's disease (PD) in the U.S. According to World Health Organization (WHO), around 6.3 million people worldwide suffered from Parkinson's disease in 2013.

Moreover, high prevalence of depression such as bipolar disorder is also boosting growth of the market. For instance, according to the National Institute of Mental Health (NIMH), around 10% to 15% women develop postpartum depression worldwide. According to the National Alliance on Mental Illness (NAMI), around 20% of people in U.S are suffering with major depressive disorder develop psychotic symptoms hallucinations. Essential Tremor (ET) leads to action tremor with prevalence rate of up to 10% in the US. This in turn also helps in growth of the market.

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Neurostimulation Devices Market – Regional Analysis

On the basis of region, the global neurostimulation devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold dominant position in the market and is expected to maintain its dominance over the forecast period. This is attributed to increasing awareness about treatment of neurological disorders and high healthcare investment. The market in Asia Pacific is expected to witness the fastest growth over the forecast period. This is attributed to high prevalence of PD in India and China.

Neurostimulation Devices Market – Key Players

Major players operating in the global neurostimulation devices market include, NDI Medical, electroCore LLC, Electro Medics, Endostim Inc., NeuroPace, Inc., Virtual Medical Centre Inc Neurosigma, Boston Scientific Corporation, and St. Jude Medical Inc.

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