Nerve Stimulators Market is estimated to be US$ 8.2 billion by 2030 with a CAGR of 8.90% - By PMI
The report “Nerve Stimulators Market, By Type, By Application , By End-User and By Region - Trends, Analysis and Forecast till 2030”
COVINA, CALIFORNIA , UNITED STATE, March 24, 2023 /EINPresswire.com/ -- The NERVE STIMULATORS MARKET accounted for US$ 3.5 billion in 2020 and is estimated to be US$ 8.2 billion by 2030 and is anticipated to register a CAGR of 8.90%. Neurostimulation usually refers to the electromagnetic approaches to neuromodulator. Neurostimulation technology can improve the life quality of these who are severely paralyzed or affected by profound losses to varied sense organs, also as for permanent reduction of severe, chronic pain which might otherwise require constant (around-the-clock), high-dose opioid therapy (such as neuropathic pain and spinal-cord injury). It is the key a part of neural prosthetics for hearing aids, artificial vision, artificial limbs, and brain-machine interfaces. Within the case of neural stimulation, mostly an electrical stimulation is employed and charge-balanced biphasic constant current waveforms or capacitive coupled charge injection approaches are adopted. Alternatively, transracial magnetic stimulation and transracial electric stimulation are proposed as non-invasive methods during which either a magnetic flux or transracially applied electric currents cause neurostimulation.The report “Nerve Stimulators Market, By Type (Spinal Cord Stimulator (SCS), Deep Brain Stimulator (DBS) and Vagus Nerve Stimulator (VNS)), By Application (Parkinson’s Disease, Chronic Pain, Epilepsy and Depression), By End-User (Trauma Centers, Ambulatory Surgical Centers and Hospital & Clinics) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
•In 2021, NeuraLace Medical, Inc., a medical device company focused on improving pain relief among patients suffering from debilitating chronic pain,
announced that it has received FDA 510(k) clearance for Axon Therapy to non-invasively stimulate peripheral nerves and provide chronic nerve pain
relief.
Analyst View:
There is some evidence that peripheral nerve stimulation helps certain types of chronic pain, such as peripheral nerve pain and pain after surgery. Initial pain relief is often followed by a gradual decline in effectiveness. The growth of this market is driven majorly by the rising prevalence of neurological disorders, increasing research into expanding the applications of neuromodulator, and awareness on neurodegenerative disorders.
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Key Market Insights from the report:
The Nerve Stimulators Market accounted for US$ 3.5 billion in 2020 and is estimated to be US$ 8.2 billion by 2030 and is anticipated to register a CAGR of 8.90%. The Global Nerve Stimulators Market report segments the market on the basis of product type, application, end-user and region.
• Based on Product type, the Global Nerve Stimulators Market is segmented into the Spinal Cord Stimulator (SCS), Deep Brain Stimulator (DBS) and
Vagus Nerve Stimulator (VNS).
• Based on Application, the Global Nerve Stimulators Market is segmented into Parkinson’s disease, Chronic Pain, Epilepsy and Depression.
• Based on End-User, the Global Nerve Stimulators Market is segmented into Trauma Centers, Ambulatory Surgical Centers and Hospital & Clinics.
• By region, the Global Nerve Stimulators Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America is accounted for largest market share in terms of revenue contribution and is expected to maintain its dominance over the forecast period.
Competitive Landscape:
• NeuroPace
• Boston Scientific Corporation
• Aleva Neurotherapeutics SA
• Cochlear Ltd
• Cyberonics
• Medtronic plc
• St Jude Medical
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
• Explains an overview of the product portfolio, including product development, planning, and positioning
• Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
• Detailed analysis of the market revenue over the forecasted period.
• Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
• Study on the segments that are anticipated to dominate the market.
• Study on the regional analysis that is expected to register the highest growth over the forecast period
Questions answered by Nerve Stimulators Market:
1. What are the key trends in the nerve stimulators market, and how are they likely to evolve in the future?
The key trends in the nerve stimulators market include the growing demand for minimally invasive procedures, increasing use of neurostimulation for chronic pain management, and advancements in technology leading to the development of more advanced devices. Other trends include the increasing focus on personalized medicine and the adoption of rechargeable implantable devices. In the future, these trends are likely to continue to evolve, with a greater focus on non-invasive or minimally invasive approaches, the use of artificial intelligence and machine learning to optimize therapy, and the development of new applications for nerve stimulation, such as for the treatment of depression and other mental health disorders.
2. What are the different types of nerve stimulators available in the market, and how do they differ in terms of features, price, and applications?
The different types of nerve stimulators available in the market include spinal cord stimulators, peripheral nerve stimulators, deep brain stimulators, and sacral nerve stimulators. These devices differ in terms of the targeted nerves and the conditions they are used to treat. Spinal cord stimulators and peripheral nerve stimulators are commonly used for chronic pain management, while deep brain stimulators are used for the treatment of movement disorders such as Parkinson's disease. Sacral nerve stimulators are used for conditions such as overactive bladder and fecal incontinence. They also differ in terms of features and price, with spinal cord stimulators and deep brain stimulators being the most expensive due to their complexity and advanced features. Prices can range from several thousand to tens of thousands of dollars.
3. Who are the key players operating in the nerve stimulators market, and what are their key strengths and weaknesses?
The key players operating in the nerve stimulators market include Medtronic, Abbott, Boston Scientific, Nevro Corp, and LivaNova, among others. These companies have strong expertise in medical devices and have a wide portfolio of products that address different applications and market segments. They invest heavily in R&D to develop advanced products and technologies, and also have strong distribution networks that enable them to reach a broad customer base. However, these companies also face challenges such as intense competition, increasing regulatory requirements, and high costs associated with research and development. Some of these companies also face legal and regulatory challenges related to product safety and efficacy.
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