Valley
Cottage, NY
03/01/2016
Neurostimulation is used for the treatment of various debilitating conditions
such as gastroparesis, incontinence, Parkinson's disease, epilepsy, depression
and essential tremors. Neurostimulation is a highly potential treatment option
for patients who do not obtain relief from medications and surgical therapies.
It improves the quality of life of patients who are severely paralyzed or
suffering from intense loss of various sense organs. Therefore,
neurostimulation is highly instrumental in artificial vision, hearing aids,
artificial limbs and other prosthetics.
The
global neurostimulation market is analyzed based on the therapies in which
neurostimulation systems are utilized. This includes the following segments:
Deep
brain stimulation (DBS)
Spinal
cord stimulation (SCS)
Vagus
nerve stimulation (VNS)
Sacral
nerve stimulation (SNS)
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Spinal
cord stimulation therapy accounts for the largest share in the global
neurostimulation market owing to the presence of a large number of SNS
neurostimulators in treating diabetic neuropathy, pain, postherpetic neuralgia,
ischemic limb pain and acute herpes zoster pain. Deep brain stimulators are
currently approved for the treatment of neurological disorders such as
Parkinson's disease, epilepsy, dystonia, obsessive-compulsive disorder (OCD),
essential tremors and depression. However, extensive research and advancement
in technology leading to new, exciting applications such as stroke, obesity,
autism, sleep disorders and many others will expand the deep brain stimulator
market at a faster pace.
There
is a rising need for devices with improved outcome, ability to pre-sense a
neurological episode on-set, optimize the inter-device communication and better
user interface. Developing technologies sufficing the treatment objective and
market demand will lead to an increase in the demand for neurostimulation
therapy and devices. Moreover, aging population driving rise in the incidence
of neurological disorders such as Parkinson's disease, epilepsy, essential
tremors and depression related disorders will lead to an increase in demand for
neurostimulation. In addition, neurostimulation devices and systems are gaining
acceptance for the treatment of chronic pain especially in the developing
economies such as India, China, Brazil, Mexico and Russia. Furthermore, increase
in FDA approvals for novel neurostimulators with new applications, will
expedite the growth of the global neurostimulation market in the near future.
However, lack of a reliable measuring systems which can provide the expected
outcome of neurostimulation therapies is a major challenge for manufacturers.
High cost of the therapy is a deterring factor for the neurostimulation market,
which can be subsided by gaining reimbursement for such devices.
The
neurostimulation market, currently, is strong in North America and Europe, but
is experiencing faster growth in Asia-Pacific region, mainly across China,
Brazil and India. Growth in the Asia-Pacific region will be mainly driven by
increase in patient awareness and acceptance of neurostimulation as an alternative
treatment for chronic pain and neurological disorders. Neurostimulation device
manufacturing companies and their research affiliates are continuously working
on developing novel devices and technologies which can enhance the therapeutic
outcome of existing devices and simultaneously gain market advantage. The
strategic approaches followed by these companies are focusing on creating new
markets and increasing their existing market share.
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The
global neurological market is characterized by few dominating players which
pose a challenge for the new entrants in the global neurostimulation market.
The major players in the neurostimulation market include Boston Scientific
Corporation, Cyberonics Inc., St. Jude Medical Inc., Medtronic Inc., NeuroPace
Inc., and NeuroSigma, Inc.
http://www.sbwire.com/press-releases/neurostimulation-market-2015-2025-by-segmentation-based-on-product-application-and-region-668786.htm
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