Global Nerve Stimulator Market, By Type (Spinal Cord Stimulator (SCS), Vagus Nerve Stimulator (VNS), Deep Brain Stimulator (DBS)) By Application (Parkinson’s disease, Epilepsy, Chronic Pain, and Depression) By End User (Trauma Centers, Hospital & Clinics Ambulatory Surgical Centers) opportunities and forecast 2020-2027
Market OverviewThe nerve stimulation is the process that utilizes an electrical current or electrical impulse for the treatment of chronic pain. The process has two types of electrical stimulation techniques are Peripheral nerve stimulation (PNS) and spinal cord stimulation (SCS).
The major driving factors of the global nerve stimulators market are; growing number of cases related to various chronic health disorders, increasing technological development, rising aged population around the globe, improvement in the refunding policies, increasing demand for minimally invasive procedures. However some factors restraining the market growth include high cost of the treatment and lack of skilled medical professionals.
Segment OverviewThe growing prevalence of minimally invasive procedures around the globe is leading to the market development. However, high expense of treatment and lack of experienced and skilled doctors may restrict the progress of the market during the estimated period. The global market is segmented on the basis of type, application, end-users, and region. Based on type, the market is classified into spinal cord stimulator (SCS), vagus nerve stimulator (VNS), and deep brain stimulator (DBS).
Based on its end -users, the market is segmented as ambulatory surgical centers, hospital and clinics, and trauma centers.
Regional OverviewThe North America region commanded the major market share in 2019 due to growing number of cases related to chronic disorders, technological advancements in the country such as U.S., increasing spending on the healthcare sector, and presence of major players in the market.
The therapy is one of the best methods from treating various health problems such as joint or bone issues which happens in case of osteoarthritis or fibromyalgia, neck pain, overactive bladder, neurological disorders, low back pain, and others. The rising rate of endless medical issues, expanding geriatric populace, innovative upgrades, and improvement in repayment policies are the major variables driving the market growth.
Competitor overviewKey companies functional in the global nerve stimulator market are Deep Dive, Cerbomed GmbH, NERVANA LLC, LivaNova LLC, ReShape Lifesciences Inc., New product developments and product enhancements are the key growth strategies by the major companies. Furthermore the major players are focused on Strategic collaborations to increase geographical outreach to increase their market share.
Key Players
- NeuroPace, Inc.
- Boston Scientific Corporation
- Aleva Neurotherapeutics SA
- Cochlear Ltd.
- Cyberonics, Inc.
- Medtronic
- St Jude Medical, Inc.
- LivaNova LLC,
- ReShape Lifesciences Inc
- Parasym Health
Market SegmentationBy Type
- Spinal Cord Stimulator (SCS)
- Vagus Nerve Stimulator (VNS)
- Deep Brain Stimulator (DBS)
By Application
- Parkinson’s disease,
- Epilepsy,
- Chronic Pain,
- Depression
By End User
- Trauma Centres,
- Hospital & Clinics
- Ambulatory Surgical Centres
By Geography
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA