According to a recently published report by Research Nester on “Nerve Stimulator Device Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global nerve stimulator device market in terms of market segmentation by product, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global nerve stimulator device market is segmented by product, application and end user. Based on the product segment, the market is sub-segmented into deep brain simulation devices, spinal cord simulation devices, gastric electric simulation devices, vagus nerve simulation devices, sacral nerve simulation devices and others. On the basis of application segment, the market is sub- segmented into parkinson’s disease, epilepsy, pain management, essential tremor, urinary and fecal incontinence, alzheimer’s, ischemia and others. Further, on the basis of end user segment, the market is sub- segmented into hospitals, scientific research laboratories and others. The global nerve stimulator market is anticipated to record a CAGR of around 12.6% during the forecast period i.e. 2019-2027. The market is segmented by product, application and end user, out of which, the hospitals segment is anticipated to have significant growth on account of usage of different types of nerve stimulator devices to diagnose and monitor various neurological disorders.
North America and Europe are expected to hold major revenue share in the market owing to the growing awareness regarding preventive care, increasing neurological diseases such as epilepsy, migraine, Parkinson’s disease, and incontinence, emerging technologies in the neurostimulation devices market and the gradual shift of preferences of patients towards utilization of advanced medical devices. Asia Pacific is expected to grow at a high pace on the back of high economic growth, presence of a vast patient pool, improving facilities in healthcare largely owing to the expansion of both public and private sector companies that have been collaborating with multinational healthcare establishments to provide better treatment options. Latin America and the Middle East and Africa region are expected to grow significantly owing to rapidly growing healthcare infrastructure, significant opportunities in the region and as well as the funds provided by the government to the manufacturers to conduct research activities for improved patient care.
Increasing prevalence of chronic diseases
Increase in prevalence of chronic diseases such as migraine, epilepsy and others owing to unhealthy diet and lifestyle, is expected to boost the growth of the nerve stimulator device market.
Rising geriatric population
With an increasing geriatric population across the world, people are becoming prone to various diseases which includes Parkinson’s disease, Alzheimer’s and others that require neurological treatment which can be performed with the help of nerve stimulator devices, thereby expanding the growth of nerve stimulator device market.
However, high cost of neurological treatment and availability of other options of treatment for neurological disorders are expected to be a key restraint towards the growth of nerve stimulator device market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global nerve stimulator device market which includes company profiling of Nevro Corporation, Synapse biomedical, Bio Control Medical, Cyberonics Incorporation, Boston Scientific Corporation, Abbott, Medtronic, Neuro Sigma, St. Jude Medical and NeuroPace Incorporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global nerve stimulator device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.