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Neurostimulation: Technologies and Global Markets

  • March 2014
  • 137 pages
  • BCC Research
Report ID: 2070063

Summary

Table of Contents

REPORT HIGHLIGHTS

The global neurostimulation devices market is expected to reach $3.8 billion in 2013 and $4.1 billion in 2018, with a compound annual growth rate (CAGR) of 1.5%.

This report provides:


An overview of the global market for neurostimulation devices, many of which currently are in clinical trials or undergoing development to treat a range of disorders, including epilepsy, obesity, Parkinson’s disease, depression, sexual dysfunction, urinary tract disorders, and drug addiction
Analyses of global market trends, with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018
A focus on individual disorders and variety of neurostimulation options, which include deep brain stimulation, transcranial magnetic brain stimulation, spinal cord stimulation, vagal nerve stimulation, sacral nerve stimulation, occipital nerve stimulation, tibial nerve stimulation, gastric electrical stimulation, and closed-loop/responsive stimulation
Examination of positive market impacts, which include increasing acceptance of neurostimulation devices for multiple applications, an aging population market, and technological advancements; as well as negative impacts, which include current device recalls, risks of neurostimulation devices, and investment and funding for new technological advancements
Evaluations of new product launches, current promising clinical trials, and the patent/technological pipeline
Comprehensive company profiles of major players.

INTRODUCTION

Neurostimulation incorporates technological advancements from a variety of fields including science, medicine and bioengineering. The main goal through these technologies is to develop implantable electrical devices to improve the quality of human life and day-to-day human functioning. This involves the process of electrically inhibiting or activating the functioning of the peripheral, central or autonomic nervous systems. The earliest implantable neurostimulation devices were spinal cord stimulators and stimulators to treat cardiovascular disease. In the 1970s, deep brain stimulator devices were introduced. It was around this time that the U.S. Food and Drug Administration (FDA) required implantable devices to be regulated and compliable with patient safety measures. From the 1980s to today, neurostimulators have been mainly used to treat movement disorders.

The neurostimulation device industry has seen rapid growth in the past decade. These technological advancements have not only led to improvements in existing neurostimulation devices, but they have also aided the development of the next generation of devices.Neurostimulation devices are increasingly used for pain management. Each year it is estimated that over 100 million people globally suffer from chronic pain. Currently drug therapies are the primary treatment option; however, in the long run these therapies have proved to be ineffective. As a result, in the current neurostimulation industry devices are of increasing interest for treating chronic pain. Recently a large number of neurostimulation devices have begun clinical trials or are undergoing development to treat a range of disorders including: epilepsy, obesity, Parkinson’s disease, depression, sexual dysfunction, cardiovascular disorders, movement disorders, gastrointestinal disorders, urinary tract disorders, sensory disorders and drug addiction. This opens up a wider market of applications for neurostimulation devices.

This also points to the fact that a wide variety of clinical specialists, apart from neurosurgeons and neurologists, would be interested in applying the therapies enabled by neurostimulation.Currently, the market is underdeveloped despite technological advances due to low medical acceptance and equally low consumer awareness. Patients still fear the prospect of having a foreign object implanted into their bodies. This is anticipated to change with the commercialization of technologically advanced neurostimulators, physician training, increased venture capital and government funding and considerably due to the expansion of health insurance to the underinsured and uninsured. It should be noted that even with the expansion of health insurance, often health insurance providers do not offer full reimbursement for neurostimulation devices.

This is due to some providers being ill-informed and not being fully clear on the concept of neurostimulation as a viable treatment option. It becomes a priority for leading medical device manufacturers and physicians to inform insurance providers about the benefits and success stories of neurostimulation devices. This will lead to the successful implementation of neurostimulation devices on the market from manufacturing to implantation and through patient therapy.

STUDY GOALS AND OBJECTIVES

This report, Neurostimulation, from BCC Research includes forecasted trends and sales through 2018. Current market leaders, new technologies and factors influencing low and high demand are discussed. Neurostimulation ranges from noninvasive to minimally invasive to fully invasive. Depending upon the application, various neurostimulation devices are currently on the market.

This report is particularly focused on individual disorders and discusses a variety of neurostimulation options for each disorder—including deep brain stimulation, transcranial magnetic brain stimulation, spinal cord stimulation, vagal nerve stimulation, sacral nerve stimulation, occipital nerve stimulation, tibial nerve stimulation, gastric electrical stimulation and closed-loop/responsive stimulation. Finally, the report includes information about market share, new product launches, promising technologies and current clinical trials.

REASONS FOR DOING THE STUDY

As of 2011, the size of the neurostimulation market was estimated at 4.2 billion. This market serves a patient population with both sensory and motor neural deficits. Compared to other medical device markets, the neurostimulation market can still be considered as an emerging market. At this point in time, the exiting neurostimulation technologies of spinal cord stimulation, cochlear implants and vagal nerve stimulation are widely successful. The success of these technologies with current advances in imaging technologies can provide an increase in the number of clinical applications for neurostimulation devices. These applications will also increase with the establishment of specialized medical training and a patient population eligible to benefit from the neurostimulation devices.In the past few years, these advances have led to the development of a large number of small start-up firms working on exciting new technologies. This has created a competitive market place. This report will provide the reader with an overview of neurostimulation devices available for treating individual disorders along with an overview of company profiles.

SCOPE OF REPORT

This report is a business tool that primarily will be helpful in examining trends in the market for neurostimulation devices. It begins with an overview of neurostimulation devices, key players, entry-level players, market trend analysis and factors influencing future incidence. It will also include market analysis by clinical disorder, including annual incidence, trend analysis and factors influencing future predicted surgical volume. Finally, the report will cover market share and information on key neurostimulation device manufacturers.

INTENDED AUDIENCE

This report is intended for anyone interested in better understanding the role of the rapidly growing neurostimulation technologies of the broader neuromodulation markets.Executives, consultants, trade associations, clinicians and marketing professionals in the medical device industry, health insurance industry and experts in the neuroscience and neurosurgery fields would benefit from this report. Additionally, stock analysts, venture capitalists funders and investors focused on the neuromodulation markets or those who are interested in expanding markets for neurostimulation devices would also benefit. Manufacturers and distributors of the neurostimulation technologies discussed in this report are also an intended audience.

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