1. Market Research
  2. > Healthcare
  3. > Medical Device Market Trends
Neurostimulation Devices Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Neurostimulation Devices Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • April 2021
  • 175 pages
  • ID: 6067893
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the neurostimulation devices market are Medtronic, Cyberonics, Boston Scientific Corporation, St. Jude Medical, and Nevro Corporation.

The global neurostimulation devices market is expected to grow from $5.77 billion in 2020 to $6.59 billion in 2021 at a compound annual growth rate (CAGR) of 14.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $9.92 billion in 2025 at a CAGR of 10.8%.

The neurostimulation devices market consists of sales of surgically or externally placed neurostimulators and related services.The neurostimulation devices are designed to deliver electrical stimulation to specific parts of the patient’s brain, spinal cord, or peripheral nervous system for the treatment of various conditions such as chronic pain, movement disorders, epilepsy, and Parkinson’s disease.

The neurostimulation devices include spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and cortical stimulators.

In 2020, Medtronic, an Irish medical device company has acquired Stimgenics for an undisclosed amount.This acquisition is expected to boost the chronic pain treatment portfolio of Medtronic.

Stimgenics is a private company based in Bloomington, that is pioneered in new spinal cord stimulation (SCS) waveform know as Differential Target Multiplexed (DTM) spinal cord stimulation. After the completion of the acquisition, the new proprietary DTM SCS waveform will be available on the Medtronic Intellis Platform.

The rising geriatric population across the globe is driving the growth of the neurostimulation device market.An increasing number of the population is aging and this geriatric population is falling prey to different neurobiological disorders.

For instance, according to the World Population Ageing Report, in 2019, there were an estimated 702.9 million people aged 65 or over globally. According to the population reference bureau, the number of Americans aging 65 and older is projected to more than double from 46 million in 2015 to over 98 million by 2060. According to the StastsCan, 2015, over 5.7 million Canadians have aged 65 and older, which was 16.1 % of the Canadian population.

The high cost associated with the neurostimulation Devices will impede the growth of the market.For example, the average price of neuromodulation devices for chronic pain management range from $13920 to $17940, and the average price of neuromodulation devices for epilepsy ranges from $25420 to $25970.

Although the device construction between neurostimulation and cardiac rhythm management devices is similar, neuromodulation generators are 67 percent more expensive than cardiac rhythm management devices.

USFDA strictly regulates the approval of medical devices depending on their class which is based on the risk associated with the device.There is relatively few class I neurological devices.

The majority of the neurological devices are classified under Class II and Class III.Class II devices include neurostimulators, aneurysm clips, and blood clot retrievers.

Examples of Class III devices are deep brain stimulators and medical devices for the treatment of brain tumors.Approval of class III medical devices is complicated and requires clinical trials.

The time taken for the trials can be 36 months or more, depending on the extent of clinical trials and additional information that the FDA might request. Also, the European Union has recently taken steps to strengthen its regulatory approval process significantly, and this is expected to delay approvals in Europe. The delay in regulatory approvals and the high cost of interventional devices are the major challenges faced by the companies involved in the manufacture of neurological devices.

Minimally invasive treatments are being developed for the treatment of various neurological disorders.The neurostimulation devices are being innovated in a way to cause minimum invasion during the neurological treatments.

For example, Deep Brain Stimulation (DBS) is a minimally invasive surgical procedure to treat neurological symptoms of Parkinson’s disease, including tremors, rigidity, and movement control.DBS uses a neurostimulation device, similar to a heart pacemaker, to deliver electrical pulses to a very precise location in the brain circuits that influence Parkinson’s disease symptoms.

The electrical pulses from the DBS device block the activity of these circuits so the rest of the brain can function more normally.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Cranial Implants Global Market Report 2021: COVID-19 Impact And Recovery

  • $ 5000
  • September 2021
  • 175 pages

Major players in the cranial implants market are B. Braun Melsungen AG, DePuy Synthes (Johnson and Johnson), Stryker Corporation, Zimmer Biomet, Kelyiniam Global Inc, Medartis AG, Osteomed, KLS Martin ...

  • World
  • United States
  • Neurological Disorder
  • Medical Device
  • Industry analysis

ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on