The report provides detailed insights into Neurostimulation Devices market revenue trends, industry trends, consumer trends, market size, market share, market revenue growth drivers, and forecast, along with ranging impact of each factor and driver. Technological advancement in the healthcare infrastructure of several countries through the implementation of intelligent technologies is expected to boost the demand for the devices. It also provides analysis of various factors expected to restrain or limit potential growth in Neurostimulation Devices market size over the forecast period, 2020–2028. The growth of this market can be attributed to the increasing prevalence of chronic nervous disorders. The report includes profiles of major Neurostimulation Devices players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Also included are details regarding top Neurostimulation Devices market players, manufacturers, and vendors and the various strategies being deployed in the market and objectives for these strategies.
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Global Neurostimulation Devices market revenue growth is primarily driven by rising focus by major companies on product portfolio expansion, entry into new and untapped domestic and international markets, rising investments my top Neurostimulation Devices market players, manufacturers, and vendors in strategic agreements and contracts, and rapidly increasing competition in the Neurostimulation Devices market. The rising demand for minimally invasive surgeries due to the growing preference among patients and doctors for faster recovery and shorter hospital stays is expected to drive the growth of neurostimulation devices. In addition, Neurostimulation Devices market share contribution is expected to continue to incline steadily over the forecast period due to favorable government policies, advancements in technology, and steady economic growth across various regions and countries. The increasing prevalence of neurological disorders, such as epilepsy, Dystonia, Parkinson's diseases, is most likely to drive the demand for neurostimulation devices.
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Region wise performance of the Neurostimulation Devices industry
Asia Pacific Neurostimulation Devices market revenue registered fastest growth rate in 2020, and this trend is expected to continue over the forecast period. Asia Pacific Neurostimulation Devices market revenue growth is driven by significant market revenue contribution from China, India, and South Korea. China is a robust hub for top Neurostimulation Devices market players, manufacturers, and vendors, as well as easy access to raw materials and workforce at more economical costs that that of other regional markets.
North America Neurostimulation Devices market revenue growth was relatively higher than that of other regional markets in 2020. North America Neurostimulation Devices market revenue is expected to continue to remain dominant over the forecast period, supported by robust presence of top market players, manufacturers, and vendors, and favorable government policies and norms in countries in the region.
Europe Neurostimulation Devices market revenue is expected to continue to remain steady over the forecast period, attributed to changing trends in various market and robust focus on research and development initiatives by top market players, manufacturers, and vendors to expand global footprint and drive revenues and profits.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
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Key Highlights From The Report
- Pain management is forecasted to grow with the fastest CAGR of 14.0%. The increasing incidence of chronic and acute pain disorders among patients suffering from neurological disorders is expected to increase the usage of neurostimulation devices for pain management.
- In 2019, Medtronic launched the Intellis platform for the management of certain types of chronic intractable pain. The platform was designed to overcome limitations with current spinal cord stimulation (SCS) systems, such as battery performance, and can power the Evolve workflow. It can track patients 24/7 and help in monitoring chronic pain.
- The spinal cord stimulator segment held the largest market share of 46.2% in 2019. The rising need for treating spinal injuries and neuropathic pain is most likely to increase the demand for the Spinal Cord Stimulators across the globe.
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Neurostimulation Devices industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the Neurostimulation Devices market across different regions?
- Who are the major driving forces expected to decide the fate of the Neurostimulation Devices industry worldwide?
- Who are the prominent market players making a mark in the Neurostimulation Devices market with their winning strategies?
- Which Neurostimulation Devices industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the Neurostimulation Devices market?
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Table of Content
Chapter 1. Methodology Sources
1.1. Neurostimulation Devices Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Neurostimulation Devices Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
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