San Jose, California (PRWEB) September 27, 2012
Follow us on LinkedIn – Neurostimulation, also referred to as electrostimulation and a part of neuromodulation, is a promising medical technology and is one of the most popular and fastest growing markets of the medical devices industry. The neurostimulation market is in its early developmental stages, and hence offers significant growth opportunities. Key players are marching ahead by seeking approval for new indications and developing on the existing technology. Neurostimulation market continues to remain under-penetrated, despite the emergence of neurostimulators as effective alternatives to drug therapy in numerous psychiatric and neurological disorders. For instance, Deep Brain Stimulation (DBS) and Vagus Nerve Stimulation (VNS) have offered enormous clinical benefits to users worldwide. However, the relatively slower pace of commercialization and limited awareness about its benefits has restricted adoption among patients.
Rising spending on healthcare in countries across the globe, both developed and developing, would also emerge as one of the key contributors for the technology’s growth in future. The worldwide medical device market is expected to witness a significant rise in demand for neurostimulation technologies, with substantial increase in the commercial production of various new neurostimulation technologies anticipated in the next couple of years. Majority of the neurostimulation technologies are in various stages of clinical evaluation, with commercialization expected to happen in a period of two to three years in markets with high potential (for instance US and Europe). In other countries with high demand for innovation such as Japan, Mexico, China and Brazil, penetration of neurostimulation technologies was hampered briefly due to economic and political uncertainties.
Increasing number of neurological conditions in aging population and resistance exhibited by patients towards conventional forms of medication and treatment are expected to fuel demand for novel types of neurostimulation therapies. Significant improvements in the technology sphere and implementation of defensive intellectual property strategies are expected to facilitate growth of neurostimulation technologies in the long run. High level of competition is evident among technology developers that are focused on diseases such as depression, stroke rehabilitation, Parkinson’s, epilepsy, and urinary incontinence. To further the adoption of the technology, companies need to forge strategic alliances with technology leaders as well as experts in aspects such as wireless communication, form factor, battery longevity, and data informatics. In the future, innovations in the field of neurostimulation are likely to focus on obesity, epilepsy, depression, and eye disorders. The focus would be on non-invasive, effective, and safe therapies for such diseases.
Over the years, relentless investment in research activities by industry participants led to the development of several new, innovative, cost-effective and user-friendly therapies in the recent years. The years of research has led to over 140 products in pipeline indicating a bright future for neurostimulation markets. A majority of the new products in pipeline are deep brain stimulators and vagus nerve stimulators. Going forward, Neurostimulation technology is expected to witness new growth horizons, with unique features of adjustability and reversibility of therapies. Prospective areas of neurostimulation technologies include brain stimulation for psychiatric and behavioral disorders, brain injury, eating disorders, epilepsy; and spinal cord and nerve stimulation for angina, urinary incontinence, and peripheral vascular disease.
The United States constitutes the single largest market worldwide, as stated by the new market research report on Neurostimulation. Neurostimulation market in the US has come into real existence only from the past decade and is presently projected to grow at a rapid pace with ever increasing approvals for new indications, including the treatment of neuropsychiatric conditions. The neurostimulation market is also presenting immense opportunities for development stage companies, which are targeting niche market segments. With US-based companies dominating the worldwide neurostimulation market, competitive scenario in the country is even more aggressive. Growth in the US market for neurostimulation devices market is driven by the expanding numbers of diseases treatable with neurostimulation technology, availability of clinical data validating the technology’s efficacy, and increasing acceptance among patient and physician community. The US neurostimulation market is poised to strike ahead at a robust CAGR of 16.7% through 2018. Segment-wise, Spinal Cord Stimulators (SCS) captures the lion’s share of the global neurostimulation market. SCS therapy entails stimulation of nerves in the spinal cord by inserting electrodes in the epidural space, just above the spinal cord. Vagus Nerve Stimulators (VNS) represents the fastest growing segment, and is expected to register a compounded annual growth rate of 23.9% through 2018.
Major players profiled in the report include Boston Scientific Corp., Cyberonics, Inc., Medtronic, Inc., St. Jude Medical, Inc., Synapse Biomedical, Inc., and SPR Therapeutics, LLC.
The research report titled “Neurostimulation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the neurostimulation products, industry and product overview, key growth drivers, trends and issues, competitive scenario, recent industry activity, product introductions and profiles of major global as well as regional market participants. The report provides annual sales estimates and projections in value terms (US$) for neurostimulation products for the years 2010 through 2018 for the US and Rest of World markets. The report analyzes the United States neurostimulation market in both value (US$) and volume (units) terms. Also, a six-year (2004-2009) historic analysis is provided for additional perspective. Key product segments analyzed in the report include, Spinal Cord Stimulators (Radio Frequency System and Implantable Pulse Generator), Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and Gastric Electric Stimulators.
For more details about this comprehensive market research report, please visit –
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