The Global 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.
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.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global 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”
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Key Market Insights from the report:
The Global 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:
The Key players operating in the global Nerve Stimulators market are NeuroPace, Inc., Boston Scientific Corporation, Aleva Neurotherapeutics SA, Cochlear Ltd., Cyberonics, Inc., Medtronic plc and St Jude Medical, Inc.
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
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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