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Neuromodulation Devices are Advanced Medical Tools that can Enhance or Suppress the Activity of the Nervous System

April, 2020

" The global neurostimulation devices market is expected to witness a CAGR of 12.18% during the forecast period 2019–2025 "

Bangalore, India, December 16, 2019: With its recently published study “Global Neurostimulation device  Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global neurostimulation device market is expected to grow at a CAGR of approx. 12.18%, during the forecast period 2019–2025. Increasing prevalence of neurological disorders such as movement disorders, epilepsy, Parkinson’s disease, chronic pain, and depression have increased demand for neurostimulation therapy. Recent advances in neurostimulation technologies along with an increased understanding of neurocircuitry, providing the necessary tools to treat patients living with many debilitating neurologic and psychiatric disorders contributing to the rapid rise in the use of neurostimulation therapies and growth of the neurostimulation device market. Additionally, government support in terms of funding for research and development field, technological advancements and creating awareness by education campaigns may improve health outcomes.

The spinal cord segment (SCS) holds maximum share in the market owing to the wide scope of product application and high market penetration of commercially available products. This number is expected to grow to manage a variety of chronic long-term conditions due to significant reduction in the pain post therapy. Apart from neuropathic and ischemic pain, SCS has been demonstrated in several cases of chronic visceral pain, such as chronic abdominal or pelvic pain following major abdominal or pelvic surgery.  Recent advances and an impressive effect of SCS on improving quality of life, have continued to keep the promise for regaining volitional movement for those with spinal cord injuries. However, occasionally patients experience device complications, such as a displaced lead, internally fractured electrode, or device malfunction. That may hamper the market growth.            

Risk of developing chronic pain can be seen in people of all ages due to an injury such as a back sprain or pulled muscle, obesity, migraine or post-surgery complication but it’s most common in older adults. Since it’s believed that chronic pain develops after nerve damage, drugs only help in managing the pain but may not provide an effective solution hence, neurostimulation devices are the most preferred way of treating chronic pain.  This makes Patients to be dependent more on hospitals than any other medicinal service area because of the accessibility of well-equipped gadgets and most recent monitoring programming. Therefore, surgeries undertaken at hospitals are comparatively more than other healthcare systems. Hence hospitals are the ideal consideration for the effective pain management.

North America dominates the global neurostimulation device market due to continuous innovations in technology with a growing aging population followed by a fast-moving lifestyle. Moreover, the presence of developed IT and healthcare infrastructure, promising government initiatives in the current healthcare infrastructure, and constantly improving reimbursement scenario would further propel the market growth. Europe is anticipated to be the second-largest region in terms of revenue share owing to the presence of several medical device manufacturing companies that provide a huge marketplace for various players in the market. Germany currently leads the overall neuromodulation market in Europe based on the number of stimulators placed every year followed by France and the United Kingdom. Asia Pacific is expected to be the fastest-growing regional market for hospital information systems owing to the large population pool, easy availability of advanced healthcare technology, skilled personnel and low-cost for the surgery are driving the market.  

Infoholic Research forecasts that the global neurostimulation devices market is expected to grow at a CAGR of approx. 12.18% during the forecast period 2019–2025. Increasing prevalence of neurological disorders, such as movement disorders, epilepsy, Parkinson’s disease, chronic pain, and depression, has increased the demand for neurostimulation therapy. Recent advancements in neurostimulation technologies, along with an increased understanding of neurocircuitry, are providing necessary tools to treat patients with many debilitating neurologic and psychiatric disorders that are contributing to the rapid rise in the use of neurostimulation therapies and growth of the neurostimulation devices market. Additionally, government support in terms of funding for R&D, technological advancements, and creating awareness by education campaigns may improve health outcomes.

The spinal cord segment (SCS) holds the maximum share in the market owing to the wide scope of product application and high market penetration of commercially available products. This number is expected to increase to manage a variety of chronic long-term conditions due to a significant reduction in pain post-therapy. Apart from neuropathic and ischemic pain, SCS has been demonstrated in several cases of chronic visceral pain, such as chronic abdominal or pelvic pain following major abdominal or pelvic surgery. Recent advancements and the impressive effects of SCS on improving the quality of life have continued to keep the promise for regaining volitional movement for those with spinal cord injuries. However, occasionally, patients experience device complications, such as a displaced lead, internally fractured electrode, or device malfunction that may hamper the market growth.

The risk of developing chronic pain can be seen in people of all ages due to an injury such as a back sprain or pulled muscle, obesity, migraine, or post-surgery complication, but it is most common in older adults. Since it is believed that chronic pain develops after nerve damage, drugs only help in managing the pain but may not provide an effective solution; hence, neurostimulation devices are the most preferred way of treating chronic pain. This makes patients more dependent on hospitals than any other medicinal service area because of the accessibility of well-equipped gadgets and most recent monitoring programing. Therefore surgeries undertaken at hospitals are comparatively more than other healthcare systems. Hence hospitals are the ideal consideration for effective pain management.

North America dominates the global neurostimulation devices market due to continuous innovations in technology with a growing aging population followed by a fast-moving lifestyle. Moreover, the presence of developed IT & healthcare infrastructure, promising government initiatives in the current healthcare infrastructure, and constantly improving reimbursement scenario would further propel the market growth. Europe is anticipated to be the second-largest region in terms of revenue share owing to the presence of several medical device manufacturing companies that provide a huge marketplace for various players in the market. Germany currently leads the overall neuromodulation devices market in Europe based on the number of stimulators placed every year, followed by France and the UK. Asia Pacific is expected to be the fastest-growing regional market for neurostimulation devices owing to the large population pool, easy availability of advanced healthcare technology, skilled personnel, and low-cost for the surgery.

“Neurostimulation devices are the promising modality to treat every area of the body and treat nearly every disease or symptom from headaches to urinary incontinence.  chronic pain is the most common indication. With such a broad therapeutic scope and significant ongoing improvements in technology, is likely to address the health of the growing population and result in better health outcomes, poised as a major growth industry for the next decade. Strategies in developing a closed-loop system, that significantly improves the efficacy of neurostimulation therapies are the motivation to treat neurologic disorders’’.  – Mohammed Azhar, Team Lead (Research – Healthcare) at Infoholic Research

Key Segments of the Report Include:

  • By Product Type
    • SCS System
    • DBS System
    • SNS System
    • VNS System
    • GES System
  • By Applications Type
    • Pain Management
    • Urinary and Fecal Incontinence
    • Epilepsy
  • By End-users
    • Hospitals
    • Trauma Centers
  • By Regions
    • North America
    • Europe
    • APAC
    • RoW

Mr. Karthick Subramani

Infoholic Research LLP

Marketing & Communication

karthick@infoholicresearch.com