Global Neurostimulator Implants Market, by Type; by Applications; and by Region (North America, Europe, Asia Pacific, Latin America, MEA); - Global Forecasts 2021 to 2027

The Global Neurostimulator Implants Market is estimated to be USD 5.3 Bn in 2020 and is expected to reach USD 11.4 Bn by 2027, growing at a CAGR of 11.7 % during the forecast period.

Neurostimulator Implants Market Definition

Neurostimulators implants are the devices which is placed surgically that give mild electrical signals via one or more thin wire known as leads. Neurostimulators involves comparatively exact interaction with the tissues of specific nervous that serves the physiologic function.

Neurostimulator Implants Market Dynamics

The demand for neuro-stimulator implants is estimated to rise as the number of cases of neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy, depression rises. In individuals with Parkinson’s disease or any other neurological disorder, brain implants are likely to lessen the need for medications that improve bodily movement and relieve chronic pain. Several neurological illnesses are becoming more common as the ageing population grows. For instance, according to the United Nations' World Population Ageing 2019 report, there were more than 703 million people aged 65, and by the 2050 it is expected to increase more than 1.5 billion people aged 65.

However, side effects such as allergic reactions and tingling or prickling of the skin caused by the implantation of a neurostimulation device into the body, as well as an increase in device costs, are limit the neurostimulator implants market growth. The neurostimulator implants market growth is limited by the availability of various treatment choices such as medication therapy and surgery.

The Global Neurostimulator Implants Market Segmentation:

By Type

• Spinal Cord Stimulators
• Deep Brain Stimulators
• Vagus Nerve Stimulators
• Sacral Nerve Stimulators

By Applications

• Parkinson’s Disease
• Pain Management
• Epilepsy
• Urinary and Fecal Incontinence
• Gastroparesis
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Company Profiles and Competitive Intelligence

The key players operating in the neurostimulator implants market are:

• Oticon Medical AB
• William Demant Holding A/S
• Amplifon SpA (Ampliter N.V.)
• Sonova Holding AG
• Widex A/S
• Cochlear Ltd.
• Medtronic PLC
• Nurotron Biotechnology Co. Ltd.
• MED-EL GmbH
• Starkey laboratories, Inc.
• GN Hearing A/S
• Advanced Bionics AG
• Demant A/S
• RION Co., Ltd.
• Arphi Electronics Private Limited
• Austar Hearing Science and Technology (Xiamen) Co., Ltd.
• SeboTek Hearing Systems, LLC.
• IN4 Technology Corporation
• WS Audiology A/S
• Eargo, Inc.

Based on type, the spinal cord stimulator segment is expected to dominate the global neurostimulator implants market due to increasing adoption of spinal cord stimulators for pain management

Based on type, the global neurostimulator implants market has been segmented into spinal cord stimulators, deep brain stimulators, vagus nerve stimulators, and sacral nerve stimulators. The spinal cord stimulators are dominating segment over the forecast period. The increased clinical trials for the treatment of new symptoms. Moreover, the adoption of spinal cord stimulators has increased than that of other stimulators due to it is minimally invasive procedure that provides early recovery and cost effectiveness.

Based on applications, pain management segment is expected to grow at the highest CAGR during the forecast period due to increasing demand of neurostimulators implants among the patients suffering from the neurological disorders

Based on applications, the global neurostimulator implants market is segmented into Parkinson’s disease, pain management, epilepsy, urinary and fecal incontinence, gastroparesis, and others. The pain management segment is expected to project the significant growth over the forecast period due to increasing number of patients with chronic pain disorders among the population. In 2018, the data published in centers for disease control and prevention, in the U.S 20.4% adults are suffering from chronic pain and 8% of adults are suffering from chronic pain with high impact.

The report also provides an in-depth analysis of the global neurostimulator implants market dynamics such as drivers, restraints, opportunities, and challenges

Drivers

• Increasing demand for minimally invasive neurosurgeries
• Advancement in technologies
• Increasing prevalence of neurological disorders

Restraints

• High cost of devices
• Post surgeries ill effect

Opportunities

• Emerging market
• Increasing investment by key-players

Challenges

• Availability of alternative treatment or medications

COVID-19 Impact on the Global Neurostimulator Implants Market

Covid-19 has highly affected the industries in terms of growth, economy, health, and mental well-being of every individual. In this challenging situation, every industry is trying to give the best services in terms of quality and safety. Neurostimulator market affected negatively due to the COVID-19 outbreak. The neurostimulator implants surgeries post-pounded due to occupancy of hospitals by COVID-19 patients. However, the funding and focus on research and development have been distracted due to this pandemic is another restraining factor for the growth of the neurostimulator implants industry.

The report also provides an in-depth analysis of key trends in global neurostimulator implants market

The report also provides an in-depth analysis of recent news developments and investments

• In March 2021, NeuroSphere Virtual Clinic in the United States is launched by Abbott Laboratories which is a patient-care technology for remote neuromodulation. This technology has ability to rise access to optimum treatment for the patients, those are suffering from the movement disorders & chronic pain. The launch of NeuroSphere Virtual Clinic tends to increase the volume of patients due to its accessibility to medical services in rural and urban areas.
• In June 2020, The Percept Deep Brain Stimulation (DBS) device from Medtronic PLC has been approved by the US Food and Drug Administration for the treatment of Parkinson's symptoms. The approval of this device helps doctors to co-relate symptoms of patients with actual signals of brain that allows doctors to treat patients with few side-effects.

The unique insights provided by this report also includes the following:

1. In-Depth Value Chain Analysis
2. Opportunity Mapping
3. Sector Snapshot
4. Key Players Positioning Matrix
5. Regulatory Scenario
6. Strategies Adopted-Benchmarking Heat Map
7. Market Trends
8. COVID-19 Impact Analysis
9. Product Comparison
10. Pre & Post COVID 19 Impact on the Global Neurostimulator Implants Market 
11. Competitive Landscape

Frequently Asked Questions (FAQs)

Related Reports