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Non-Invasive Neurostimulation Devices Market, 2020-2030

Non-Invasive Neurostimulation Devices Market, 2020-2030

  • September 2020
  • 294 pages
  • ID: 5987915
  • Format: PDF
  • Roots Analysis Private Ltd.

Summary

Table of Contents

INTRODUCTION
Over the past few decades, the prevalence of neurological disorders has been increasing at an alarming rate, particularly among the geriatric population across the world. In fact, a Global Burden of Disease study suggested that neurological conditions, which are often associated with serious physical, cognitive and psychosocial impairment, are currently considered among the major threats to public health. Presently, nearly one million Americans are reported to be living with Parkinson’s disease, and approximately 60,000 new cases are reported every year. Chronic pain is another debilitating condition, contributing to the global economic and healthcare burden. According to the Centers for Disease Control and Prevention, around 50 million individuals in the US suffer from some form of pain. This is estimated to account for a financial burden of USD 560 billion per year, including medical expenses and lost productivity. Although, there are several pharmacological options available for symptomatic relief, they are significantly limited in terms of providing long term solutions. For instance, long-term use of opioid drugs is associated with a high risk of addiction, eventually causing many patients to abuse such interventions. There are also some surgical procedures that are recommended in severe cases, but cannot provide permanent relief, often leading to further complications.

Over the years, advances in neurotechnology and neuroimaging, along with the growing understanding of neurocircuitry, have brought about noticeable disruption in this field. Leveraging the aforementioned intellectual capital, a variety of neurostimulation technologies focused on providing therapeutic relief have been developed. The first neurostimulation therapy was introduced in the 1960s. Since then, the benefits of neurostimulation technologies, such as their reversible and minimally invasive nature, targeted and adjustable therapeutic action, integrated safety mechanisms, and almost negligible dependence on opioids / oral medications, have been widely recognized. In fact, many such technologies are presently perceived to be viable alternatives to conventional treatment methods. Although they were initially considered a last resort for treatment, studies have shown neurostimulation devices to be capable of successfully providing therapeutic relief to medication-resistant patients. As a result, the adoption of these non-invasive solutions is on the rise in the US, EU and other parts of the world. Numerous partnerships have been inked amongst stakeholders in this domain, indicative to future growth of the market. Interestingly, start-ups / university spin-offs have been the flagbearers in this upcoming field of therapeutics and are also expected to sustain the research momentum, over the coming years.

SCOPE OF THE REPORT
The ‘Non-Invasive Neurostimulation Devices Market, 2020-2030’ report features an extensive study of the current market landscape and the future potential of non-invasive neurostimulation devices in treating different chronic conditions. It features an in-depth analysis, highlighting the capabilities of various stakeholders engaged in this domain. In addition to other elements, the study includes:
- A detailed assessment of the overall landscape of the non-invasive neurostimulation devices market, highlighting the contribution of industry players and providing information on various types of non-invasive neurostimulation devices (transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), electromagnetic stimulation (EMS), non-invasive vagus nerve stimulation (nVNS) and others), target therapeutic areas (pain management, inflammatory disorders, neurological disorders, psychological disorder, movement disorders and others), regulatory / development status (USFDA, CE Mark, Health Canada, TGA Australia, CFDA, MHLW and others), and the key device specifications, including number of stimulation modes, number of electrodes, size, weight, battery type, regulatory stance, professional assistance requirement and regulatory / reimbursement status.
- An insightful competitiveness analysis of various non-invasive neurostimulation devices, including TENS, TMS, EMS, nVNS and others, taking into consideration the supplier power and product specifications.
- Elaborate profiles of the key players developing non-invasive neurostimulation devices. Each company profile features an overview of the company, its financial information (if available), a detailed description of the device(s), recent developments and an informed future outlook.
- An elaborate discussion on the regulatory landscape for market authorization of medical devices, as well as the guidelines related to their reimbursement across different countries.
- An in-depth analysis of the patents that have been filed / granted for non-invasive neurostimulation devices since 2016, highlighting key trends associated with these patents, across type of patents, publication year, issuing authority / patent offices involved, CPC symbols, emerging focus areas, leading players, patent characteristics and geography. It also includes a detailed patent benchmarking and valuation analysis.
- An analysis of the partnerships that have been inked by the stakeholders in this domain since 2016, covering distribution agreements, research agreements, clinical trial agreements, commercialization agreements, merger and acquisition, licensing agreements, product development and commercialization and research and development agreements.
- A discussion on the upcoming opportunities / trends in the field of non-invasive neurostimulation devices that are likely to impact the evolution of this market over the coming years.

One of the key objectives of the report was to estimate the existing market size and potential growth opportunities for non-invasive neurostimulation devices. Based on parameters, such as target consumer segments, likely adoption rates and expected pricing, we have provided an informed estimate on the likely evolution of the market over the period 2020-2030. The report also features the likely distribution of the current and forecasted opportunity within the non-invasive neurostimulation devices market across [A] type of stimulation technology (TENS / TMS / nVNS / other types), [B] target indication (chronic pain / epilepsy / major depressive disorder / migraine), and [C] key geographical regions (US / Canada / UK / Germany / France / Spain / Italy / Australia / China / Japan). In order to account for the uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios namely the conservative, base and optimistic scenarios, which represent three different tracks of the industry’s evolution.

The opinions and insights presented in the report were influenced by discussions held with senior stakeholders in the industry. The report features detailed transcripts of interviews held with the following industry stakeholders:
- Chip Fisher (Chairman, Fisher Wallace Laboratories)
- Renee C. Ryan (Chief Executive Officer, Cala Health)
- Sree N Koneru (Vice President, Product Development, BioElectronics)

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

RESEARCH METHODOLOGY
The data presented in this report has been gathered via secondary and primary research. For all our projects, we conduct interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Where possible, the available data has been checked for accuracy from multiple sources of information.

The secondary sources of information include
- Annual reports
- Investor presentations
- SEC filings
- Industry databases
- News releases from company websites
- Government policy documents
- Industry analysts’ views

While the focus has been on forecasting the market till 2030, the report also provides our independent view on various technological and non-commercial trends emerging in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market gathered from various secondary and primary sources of information.

CHAPTER OUTLINES
Chapter 2 is an executive summary of the insights captured in our research. The summary offers a high-level view on the likely evolution of the non-invasive neurostimulation devices market in the mid to long term.

Chapter 3 is an introductory chapter that presents a general view of the growing prevalence of neurological impairment, along with information on the limitations associated with conventional treatment methods. Further, it features a detailed discussion on neurostimulation devices, their historical development, basic components and principle of operation, and the advantages / challenges associated with them. It also provides information on different types of neurostimulation devices, including invasive devices (spinal cord stimulation devices, deep brain stimulation devices, sacral nerve stimulation devices, vagus nerve stimulation devices and other invasive neurostimulation devices) and non-invasive devices (TENS, repetitive transcranial magnetic stimulation and transcranial direct current stimulation), their potential applicability across different indications, and the key growth drivers and road blocks to the overall neurostimulation domain.

Chapter 4 provides a comprehensive overview of regulatory landscape for the market authorization of medical devices across different geographies, such as North America (the US and Canada), Europe (the UK, Germany, France, Spain and Italy), and Asia-Pacific (Australia, China and Japan). In addition, the chapter provides information on the payer mix, and detailed reimbursement processes of medical devices by different public / private organizations within various geographies.

Chapter 5 includes information on more than 170 non-invasive neurostimulation devices that are either commercialized or under development for the treatment of different disorders. It features detailed analyses of these devices based on different types of non-invasive neurostimulation devices (TENS, TMS, EMS, nVNS and others), target therapeutic areas (pain management, inflammatory disorders, neurological disorders, psychological disorder, movement disorders and others), and regulatory / development status (USFDA, CE Mark, Health Canada, TGA Australia, CFDA, MHLW and others). Further, we have provided information on key specifications (including size, weight, battery type, number of electrodes, number of stimulation modes and regulatory / reimbursement status). The chapter also highlights the contributions of various companies engaged in this domain, presenting a detailed analysis based on their year of establishment, size of employee base and geographical presence.

Chapter 6 presents a detailed competitiveness analysis of non-invasive neurostimulation devices based on the supplier power and key product specifications. The analysis was designed to enable stakeholder companies to compare their existing capabilities within and beyond their respective peer groups and identify opportunities to achieve a competitive edge in the industry.

Chapter 7 provides detailed profiles of the key players that are engaged in developing non-invasive neurostimulation devices domain. Each profile features a brief overview of the company, its financial information (if available), detailed description of the device(s) and the recent developments and an informed future outlook.

Chapter 8 provides an in-depth patent analysis presenting an overview of how the industry is evolving from the R&D perspective. For this analysis, we considered those patents that have been filed / granted for non-invasive neurostimulation devices, since 2016, highlighting key trends associated with these patents, across type of patents, publication year, geographical location, type of applicants, issuing authority / patent offices involved, CPC symbols, emerging focus areas, leading players (in terms of number of patents granted / filed in the given time period), patent characteristics and geography. It also includes a detailed patent benchmarking and an insightful valuation analysis.

Chapter 9 features a detailed analysis of the partnerships / collaborations that have been inked amongst the players in this market. It includes a brief description on the various types of partnership models (such as product development / commercialization agreements, R&D collaborations, technology licensing deals, distribution agreements, mergers / acquisitions, and others) that have been adopted by stakeholders in this domain, and analysis on the trend of partnerships inked since 2016. It also consists of a schematic representation highlighting the players that have established the maximum number of alliances related to non-invasive neurostimulation devices. Furthermore, we have provided a world map representation of all the deals inked in this field, highlighting those that have been established within and across different continents.

Chapter 10 presents an insightful market forecast analysis, highlighting the future potential of non-invasive neurostimulation devices, till the year 2030. We have segregated the opportunity on the basis of [A] type of stimulation technology (TENS / TMS / nVNS / other types), [B] target indication (chronic pain / epilepsy / major depressive disorder / migraine), and [C] key geographical regions (the US / Canada / the UK / Germany / France / Spain / Italy / Australia / China / Japan). In order to account for future uncertainties and to add robustness to our model, we have provided three forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.

Chapter 11 is a collection of executive insights of the discussions that were held with various key stakeholders in this market. The chapter provides a brief overview of the companies and details of interviews held with and Renee C. Ryan (Chief Executive Officer, Cala Health), Sree N Koneru (Vice President, Product Development, BioElectronics), Chip Fisher (Chairman, Fisher Wallace Laboratories).

Chapter 12 presents a discussion on the upcoming opportunities / trends in the field of neurostimulation devices that are likely to impact the future evolution of this market over the coming years. These include (but not limited to) development of devices against unexplored therapeutic areas, integration of novel and advanced features, launch in different geographies, increased utilization of real world evidence-based insights, and implementation of cybersecurity measures in the devices.

Chapter 13 is an appendix, which provides tabulated data and numbers for all the figures provided in the report.

Chapter 14 is an appendix, which provides the list of companies and organizations mentioned in the report.

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