The neurostimulation devices market is poised to amass significant gains by 2027 on account of rising awareness pertaining to product application for pain management in key regions across the globe. Additionally, notable technological advancements in the product are expected to further augment market growth through the forecast period.
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Neurostimulation devices run on electrodes and a battery to provide magnetic or electrical forces through the scalp to some areas of the brain. These devices offer several benefits, such as improved concentration, better sleep efficiency, enhanced brain training, and stress reduction, as well as support the treatment of conditions like migraine, anxiety, depression, and insomnia, among others. These devices are essentially non-invasive, which has substantially contributed to neurostimulation devices industry expansion in recent years.
Furthermore, both established companies and newer entrants have been focusing on product development and innovation to extend consumer reach, thereby enhancing market dynamics. For instance, in March 2021, neurotechnology expert Neurolief announced that it had received U.S. Food and Drug Administration (FDA) approval for Relivion, its non-invasive multi-channel brain neuromodulation system designed for at-home treatment of acute migraines in adults. Relivion is a headset that provides accurate and personalized treatment for patients through three adaptive output channels that target six trigeminal and occipital nerve branches.
Browse key industry insights spread across 110 pages with 128 market data tables & 11 figures & charts from the report, “Neurostimulation Devices Market Size By Product (Deep Brain Stimulator, Gastric Electric Stimulator, Spinal Cord Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Transcutaneous Electrical Nerve Stimulation [TENS]), By Application (Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/neurostimulation-devices-market-report
In another instance, in September 2021, the FDA granted 510 (k) clearance for Prelivia, the Rehabtronics-developed neurostimulation device that promotes healthy blood circulation as well as maintains healthy tissue in bed-ridden or chair-bound patients. As a result, mounting availability of advanced devices in the market has positively impacted the product landscape.
For comprehensive analysis, the neurostimulation devices market has been segmented based on product, application, and region. In terms of product, the market has further been categorized into gastric electric stimulator, deep brain stimulator, spinal cord stimulator, transcutaneous electrical nerve stimulation (TENS), vagus nerve stimulator, sacral nerve stimulator, and others.
The transcutaneous electrical nerve stimulation (TENS) sub-segment was valued at more than USD 260 million in 2020 and is anticipated to observe notable growth through 2027. Increasing launch of several technologically advanced products is likely to fuel segmental growth in the coming years.
From the application perspective, the neurostimulation devices market has been bifurcated into epilepsy, depression, pain management, urinary and fecal incontinence, dystonia, essential tremor, gastroparesis, Parkinson's disease, and others. In 2020, the epilepsy sub-segment held over 4.0% market share and is projected to expand at a significant pace over 2021-2027. Rising prevalence of epilepsy in the geriatric population is foreseen to propel segmental development over the following years.
On the regional spectrum, the Latin America neurostimulation devices market accounted for nearly 3.7% of the overall industry revenue in 2020 and is slated to reach a sizable valuation by the end of 2027.
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology
1.1 Methodology
1.2 Market definitions
1.3 Forecast parameters
1.4 Data sources
1.4.1 Secondary
1.4.1.1 Paid Sources
1.4.1.2 Unpaid Sources
1.4.2 Primary
Chapter 2 Executive Summary
2.1 Neurostimulation devices industry 3600 synopsis, 2016 - 2027
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Application trends
2.1.4 Regional trends
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