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The global neurostimulation devices market has been witnessing annual growth rate of approximately 13.14% in past three years (2015-2018), and the market is expected to continue to grow with the CAGR of 9.23% during the forecast period, 2019-2024.
The emergence of sedentary lifestyles, growing geriatric population, physical and mental stress have resulted in different healthcare concerns. Neurological disorders are one of the leading medical conditions which is contributing predominantly to the global healthcare market. The rising prevalence of different types of neurological disorders, a recurring requirement of neuromodulation therapies, and geriatric population medication are attributing to the growth of the neurostimulation devices market.
Presently, product categories within the neurostimulation devices market include spinal cord stimulation devices, auditory brainstem implants, deep brain stimulation devices, sacral nerve stimulation devices, vagus nerve stimulation devices, and non-implantable devices. Till date, the healthcare industry has witnessed a number of successful products for neuromodulation in various applications such as chronic pain, epilepsy, depression, Parkinson’s, urinary and fecal incontinence. Further, several players are now focusing on the development of advanced technology based neuromodulation devices which is anticipated to enhance the growth of the entire market.
The purpose of the study is to gain a holistic view of the global neurostimulation devices market in terms of various factors influencing the market, including regulatory reforms and technological advancements. The market has been segmented into ‘products,’ ‘applications,’ and ‘regions.’ The scope of this report is centered upon conducting a detailed study of the products allied with the neurostimulation devices market. In addition, the study also includes exhaustive information on the unmet needs, perception on the new products, competitive landscape (including pipeline analysis), market share of leading manufacturers, the growth potential of each product, application, and region, as well as other vital information with respect to the market. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
This research report aims at answering various aspects of the global neurostimulation devices market with the help of the key factors driving the market, the restraints, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The report includes an in-depth examination of the key players and recent developments taking place in this market. Moreover, the report includes chapters on market dynamics (market drivers, opportunities, and challenges) and industry analysis as well.
The research study highlights the factors governing the industry attractiveness with Porter’s Five Forces for a comprehensive understanding of the global neurostimulation devices market. Moreover, the study includes detailed product mapping, market estimation, and analysis of key trends in multiple regions, growth of the market in each region for different applications, and the key strategies and developments by the prominent neurostimulation devices manufacturers.
The answers to the following key questions can be derived from this report:
• What are the major market drivers, challenges, and opportunities in the global neurostimulation devices market?
• What are the underlying structures resulting in the emerging trends within the industry?
• What was the market value of the leading segments and sub-segments of the global neurostimulation devices market in 2018?
• How is each segment of the global neurostimulation market expected to grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2024?
• What are the influencing factors that may affect the market share of the key players?
• How is the industry expected to evolve during the forecast period, 2019- 2024?
• What are the key developmental strategies which are being implemented by the key players in order to sustain in the competitive market?
• What are the key product types in neurostimulation devices market? What are the major benefits of each product type?
• How has the market been segmented on the basis of application? Which application is dominating the global neurostimulation devices market and its reason?
• Who are the key manufacturers in neurostimulation devices market and what are their contributions?
• What is the status of each major human microbiome modulators manufacturer with respect to their pipeline?
• What is the scope of each neuromodulation product in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for neurostimulation devices?
• What is the growth potential of neurostimulation devices in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• Which neurostimulation device has the most promising growth and in which application type?
The key manufacturers who have been contributing significantly to the neurostimulation devices market include Abbott Laboratories, Beijing Pins Medical Co. Ltd., Boston Scientific Corporation, Medtronic plc, Nexeon MedSystems Inc. Major players in the non-implantable neurostimulation products are Brainsway Ltd., NeuroMetrix, Inc., and Electocore Inc., among others.
List of Tables
Table 1: Mortality Due to Opioid-Use Disorders
Table 2.1: Impact Analysis of Market Drivers
Table 2.2: Impact Analysis of Market Challenges
Table 4.1: Regulatory Bodies Related to Neurostimulation Devices (by Country)
Table 7.1: North America Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.2: The U.S. Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.3: The Canada Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.4: Europe Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.5: Germany Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.6: The U.K. Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.7: France Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.8: Italy: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.9: Spain: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.10: Russia: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.11: Switzerland: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.12: Asia- Pacific Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.13: Japan: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.14: China: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.15: India: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.16: Australia: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.17: South Korea: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.18: Brazil: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.19: Mexico: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.20: Argentina: Disability-adjusted Life Years (DALYs), 2014-2017
List of Figures
Figure 1: Annual Societal Costs of Medical Conditions, the U.S., 2014
Figure 2: Impact of Chronic Pain on Routine Activities
Figure 3: Market Drivers and Market Restraints
Figure 4: Market Statistics
Figure 5: Competitive Scenario
Figure 6: Global Neurostimulation Devices Market, 2018-2024
Figure 7: Growth Share Matrix of Products, 2017
Figure 8: Global Neurostimulation Devices Market (by Application), 2018 and 2024
Figure 9: Growth Share Analysis (by Country), 2017
Figure 1.1: Evolution of Neurostimulation Technologies
Figure 1.2: Segmentation of Neurostimulation Devices Market
Figure 1.3: Global Neurostimulation Devices Market, 2018-2024
Figure 2.1: Market Dynamics
Figure 2.2: U.S. Annual Alzheimer’s Death Rate (per 100,000 People) by Year
Figure 2.3: Ages of People with Alzheimer’s Dementia in the United States, 2018
Figure 3.1: Competitive Landscape, January 2015-February 2019
Figure 3.2: Share of Key Developments and Strategies, January 2015-February 2019
Figure 3.3: Product Launches (by Company), January 2015-February 2019
Figure 3.4: Collaborations, Joint Ventures, and Partnerships Share (by Company), January 2015-February 2019
Figure 3.5: Mergers and Acquisitions Share (by Company), January 2015-February 2019
Figure 3.6: Awards and Recognition (by Company), January 2015-February 2019
Figure 3.7: Business Expansion and Others Share (by Company), January 2015- February 2019
Figure 3.8: Market Share Analysis (by Company), for Global Neurostimulation Devices Market, 2016 and 2017
Figure 3.9: Market Share Analysis (by Company), for Global Spinal Cord Stimulation Devices Market, 2016 and 2017
Figure 3.10: Market Share Analysis (by Company), for Global Deep Brain Stimulation Devices Market, 2016 and 2017
Figure 3.11: Market Share Analysis (by Company), for Global Auditory Brainstem Implants Market, 2016 and 2017
Figure 3.12: Growth Share Matrix for Global Neurostimulation Devices Market (by Product), 2017
Figure 4.1: Share of Patents (by Ownership), 2015-2018
Figure 5.1: Neurostimulation Devices Market Segmentation (by Product)
Figure 5.2: Global Neurostimulation Devices Market (by Product), 2018 and 2024
Figure 5.3: Global Implantable Neurostimulation Devices Market, 2018 and 2024
Figure 5.4: Global Spinal Cord Stimulation Devices Market, (2018-2024)
Figure 5.5: Global Auditory Brainstem Implant Market, (2018-2024)
Figure 5.6: Global Deep Brain Stimulation Devices Market, (2018-2024)
Figure 5.7: Global Vagus Nerve Stimulation Devices Market, (2018-2024)
Figure 5.8: Global Sacral Nerve Stimulation Devices Market, (2018-2024)
Figure 5.9: Global Hypoglossal Nerve Stimulation Devices Market, (2018-2024)
Figure 5.10: Other Neurostimulation Devices Market, (2018-2024)
Figure 5.11: Global Neurostimulation Devices Market (by Non- Implantable Neurostimulation Device Type), 2018-2024
Figure 6.1: Segmentation of Neurostimulation Devices Market (by Application)
Figure 6.2: Global Neurostimulation Devices Market (by Application), 2018 and 2024
Figure 6.3: Global Neurostimulation Devices Market (by Pain Management), 2018-2024
Figure 6.4: Global Neurostimulation Devices Market (by Hearing Loss), 2018-2024
Figure 6.5: Global Neurostimulation devices Market (by Parkinson’s disease), 2018-2024
Figure 6.6: Global Neurostimulation Devices Market (by Epilepsy), 2018-2024
Figure 6.7: Global Neurostimulation Devices Market (by Urinary and Fecal Incontinence), 2018-2024
Figure 6.8: Global Neurostimulation Devices Market (by Depression), 2018-2024
Figure 6.9: Global Neurostimulation Devices Market (by Other Applications), 2018-2024
Figure 7.1: Global Neurostimulation Devices Market (by Region), 2018 and 2024
Figure 7.2: North America: Neurostimulation Devices Market, 2018-2024
Figure 7.3: North America: Market Dynamics
Figure 7.4: North America: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.5: U.S.: Neurostimulation Devices Market, 2018-2024
Figure 7.6: Canada: Neurostimulation Devices Market, 2018-2024
Figure 7.7: Europe: Neurostimulation Devices Market, 2018-2024
Figure 7.8: Europe: Market Dynamics
Figure 7.9: Europe: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.10: Germany: Neurostimulation Devices Market, 2018-2024
Figure 7.11: U.K.: Neurostimulation Devices Market, 2018-2024
Figure 7.12: France: Neurostimulation Devices Market, 2018-2024
Figure 7.13: Italy: Neurostimulation Devices Market, 2018-2024
Figure 7.14: Spain: Neurostimulation Devices Market, 2018-2024
Figure 7.15: Russia: Neurostimulation Devices Market, 2018-2024
Figure 7.16: Switzerland: Neurostimulation Devices Market, 2018-2024
Figure 7.17: Rest-of-Europe: Neurostimulation Devices Market, 2018-2024
Figure 7.18: Asia-Pacific: Neurostimulation Devices Market, 2018-2024
Figure 7.19: Asia-Pacific: Market Dynamics
Figure 7.20: Asia-Pacific: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.21: Japan: Neurostimulation Devices Market, 2018-2024
Figure 7.22: China: Neurostimulation Devices Market, 2018-2024
Figure 7.23: India: Neurostimulation Devices Market, 2018-2024
Figure 7.24: Australia: Neurostimulation Devices Market, 2018-2024
Figure 7.25: South Korea: Neurostimulation Devices Market, 2018-2024
Figure 7.26: Rest-of-Asia-Pacific: Neurostimulation Devices Market, 2018-2024
Figure 7.27: Latin America: Neurostimulation Devices Market, 2018-2024
Figure 7.28: Latin-America: Market Dynamics
Figure 7.29: Latin-America: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.30: Brazil: Neurostimulation Devices Market, 2018-2024
Figure 7.31: Mexico: Neurostimulation Devices Market, 2018-2024
Figure 7.32: Argentina: Neurostimulation Devices Market, 2018-2024
Figure 7.33: Rest-of-Latin America: Neurostimulation Devices Market, 2018-2024
Figure 7.34: Rest-of-the-World: Neurostimulation Devices Market, 2018-2024
Figure 8.1: Market Scenario
Figure 8.2: Growth Share Matrix for Global Neurostimulation Devices Market (by Prominent Companies), 2017
Figure 8.3: Shares of Key Company Profiles
Figure 8.4: Abbott Laboratories: Overall Product Portfolio
Figure 8.5: Abbott Laboratories: Overall Financials, 2015-2017
Figure 8.6: Abbott Laboratories: Revenue (by Segment), 2015-2017
Figure 8.7: Abbott Laboratories: Revenue (by Region), 2015-2017
Figure 8.8: Abbott Laboratories: R&D Expenditure, 2015-2017
Figure 8.9: Abbott Laboratories: SWOT Analysis
Figure 8.10: Bayer AG: Overall Product Portfolio
Figure 8.11: Bayer AG: Overall Financials, 2016-2018
Figure 8.12: Bayer AG: Revenue (by Segment), 2016-2018
Figure 8.13: Bayer AG: Revenue (by Region), 2016-2018
Figure 8.14: Bayer AG: R&D Expenditure, 2016-2018
Figure 8.15: Bayer AG: SWOT Analysis
Figure 8.16: Boston Scientific Corporation: Overall Product Portfolio
Figure 8.17: Boston Scientific Corporation: Overall Financials, 2015-2017
Figure 8.18: Boston Scientific Corporation: Revenue (by Segment), 2015-2017
Figure 8.19: Boston Scientific Corporation: Revenue (by Sub-segment), 2015-2017
Figure 8.20: Boston Scientific Corporation: R&D Expenditure, 2015-2017
Figure 8.21 Boston Scientific Corporation: SWOT Analysis
Figure 8.22: Cochlear Ltd.: Product Portfolio for Neurostimulation Devices Market
Figure 8.23: Cochlear Ltd.: Overall Financials, 2016-2018
Figure 8.24: Cochlear Ltd.: Revenue (by Segment), 2016-2018
Figure 8.25: Cochlear Ltd.: Revenue (by Region), 2016-2018
Figure 8.26: Cochlear Ltd.: R&D Expenditure
Figure 8.27: Cochlear Ltd.: SWOT Analysis
Figure 8.28: Helius Medical Technologies, Inc.: Overall Product Portfolio
Figure 8.29: Helius Medical Technologies, Inc.: SWOT Analysis
Figure 8.30: Inspire Medical System, Inc.: Overall Product Portfolio
Figure 8.31: Inspire Medical System, Inc.: Overall Financials, 2016-2018
Figure 8.32: Inspire Medical System, Inc.: Revenue (by Region), 2015-2017
Figure 8.33: Inspire Medical System, Inc.: R&D Expenditure, 2015-2017
Figure 8.34: Inspire Medical System Inc.: SWOT Analysis
Figure 8.35: Laborie Medical Technologies, Inc.: Overall Product Portfolio
Figure 8.36: Laborie Medical Technologies, Inc.: SWOT Analysis
Figure 8.37: LivaNova PLC: Overall Product Portfolio
Figure 8.38: LivaNova PLC: Overall Financials, 2015-2017
Figure 8.39: LivaNova PLC (by Segment), 2015-2017
Figure 8.40: LivaNova PLC: Revenue (by Region), 2015-2017
Figure 8.41: LivaNova PLC: Revenue for neuromodulation segment (by Region), 2015-2017
Figure 8.42: LivaNova PLC: R&D Expenditure, 2015-2017
Figure 8.43: LivaNova PLC: SWOT Analysis
Figure 8.44: Medtronic plc: Overall Product Portfolio
Figure 8.45: Medtronic plc: Overall Financials, 2016-2018
Figure 8.46: Medtronic plc: Revenue (by Segment), 2016-2018
Figure 8.47: Medtronic plc: Revenue (by Region), 2016-2018
Figure 8.48: Medtronic plc: R&D Expenditure, 2016-2018
Figure 8.49: Medtronic plc: SWOT Analysis
Figure 8.50: NeuroMetrix, Inc.: Overall Product Portfolio
Figure 8.51: NeuroMetrix, Inc.: Overall Financials, 2015-2017
Figure 8.52: NeuroMetrix, Inc.: R&D Expenditure, 2016-2018
Figure 8.53: NeuroMetrix, Inc.: SWOT Analysis
Figure 8.54: NeuroPace, Inc.: Overall Product Portfolio
Figure 8.55: NeuroPace, Inc.: SWOT Analysis
Figure 8.56: Nuvectra Corporation: Overall Product Portfolio
Figure 8.57: Nuvectra Corporation: Overall Financials, 2016-2018
Figure 8.58: Nuvectra Corporation: Revenue (by Segment), 2016-2018
Figure 8.59: Nuvectra Corporation: Revenue (by Region), 2016-2018
Figure 8.60: Nuvectra Corporation: R&D Expenditure, 2016-2018
Figure 8.61: Nuvectra Corporation: SWOT Analysis
Figure 8.62: SPR Therapeutics, LLC: Overall Product Portfolio
Figure 8.63: SPR Therapeutics, LLC: SWOT Analysis
Figure 8.64: STYMCO Medical, LLC: Overall Product Portfolio
Figure 8.65: STYMCO Medical, LLC: SWOT Analysis
Figure 8.66: Synapse Biomedical Inc.: Overall Product Portfolio
Figure 8.67: Synapse Biomedical Inc.: SWOT Analysis
Figure 9.1: Global Neurostimulation Devices Market Segmentation
Figure 9.2: Global Neurostimulation Devices Market Research Methodology
Figure 9.3: Primary Research
Figure 9.4: Secondary Research
Figure 9.5: Data Triangulation
Figure 9.6: Bottom-up Approach (Segment-wise Analysis)
Figure 9.7: Top-down Approach (Segment-wise Analysis)
Figure 9.8: Assumptions and Limitations
Figure 9.9: Considered Factors for Data Prediction and Modeling
The emergence of factors such as changing dietary habits, irregular sleep patterns, sedentary lifestyles, and stringent work patterns involving prolonged work duration, poor body postures, repetitive trauma, and high levels of anxiety and stress are the leading causes of neurological disorders and chronic pain. Further, the high prevalence of road accidents resulting in devastating traumatic injury has significantly increased the cases of spinal cord injuries resulting in dysfunctioning of the nervous system. According to the Global Health Data Exchange, in 2017 the combined global incidence of neurological disorders and chronic pain was 3.97 billion, which includes several medical conditions such as Alzheimer’s disease and other dementias, low back pain, stroke, traumatic brain injury, migraine, epilepsy, multiple sclerosis, spinal cord injury, and Parkinson's disease.
Another largely undermined factor of rising neuromodulation therapy is chronic pain. According to the World Health Organization (WHO), four of top 10 leading causes of disability were chronic pain conditions that include migraine, lower back pain, neck pain, and musculoskeletal disorders, in 2013. Despite the high economic burden, chronic pain also has several detrimental effects on the quality of lives of the patient population and their respective families. Accompanied by the high risk of significant disability, chronic pain also leads to psychological disorders such as depression and anxiety. More than 30% of chronic pain-affected population reported difficulty in handling mundane tasks such as cleaning, bathing, driving, sleeping, participating in fitness activities, and participating in social activities.
As of 2018, the neurostimulation devices market can be seen to have exposure in various countries. Additionally, with the rapid advancements taking place and an exponential progression in the number of companies entering the space, access to consumers is bound to become easier. The global neurostimulation devices market has been witnessing annual growth rate of approximately 13.14% in past three years (2015-2018), and the market is expected to continue to grow with the CAGR of 9.23% during the forecast period, 2019-2024. Growing at a CAGR of 9.32% during the forecast period of 2019-2024, the spinal cord stimulation devices segment is anticipated to generate a value of $4.7 billion in 2024. However, the global market for auditory implants is anticipated to grow at the fastest CAGR of 12.94% during the forecast period 2019-2024.
The purpose of the study is to gain a holistic view of the global neurostimulation devices market in terms of various factors such as recent trends and product advancements, influencing the market. The scope of this report is centered upon conducting a detailed study of the products allied with the neurostimulation devices market, which includes various products such as spinal cord stimulation devices, auditory brainstem Implant, deep brain stimulation, vagus nerve stimulation devices, and sacral nerve stimulation devices. The neurostimulation devices market is segmented into three different parts, namely products, applications, and region. The global market value was estimated on the basis of these three different approaches which were validated against one another. These segments are further segmented into several sub-segments to ease the market estimation and to gain a holistic view of the market.
Based on region, the global neurostimulation devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (RoW). North America is the leading contributor in the global neurostimulation devices market and was responsible for a 64.19% share of the global market values in 2018. However, Asia-Pacific is expected to grow the fastest among all other regions with a CAGR of 13.51% during the forecast period 2019-2024.
The key neurostimulation devices manufacturers which have been contributing significantly to the neurostimulation devices market include Cochlear Ltd., Abbott Laboratories, and Neuronetics Inc., Nexstim Plc, ElectroCore, Inc., Mainstay Medical International plc, Nexeon MedSystems Inc., Axonics Modulation Technologies, Inc., Allergan plc, and Helius Medical Technology, among others.
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The emergence of sedentary lifestyles, growing geriatric population, physical and mental stress have resulted in different healthcare concerns. Neurological disorders are one of the leading medical conditions which is contributing predominantly to the global healthcare market. The rising prevalence of different types of neurological disorders, a recurring requirement of neuromodulation therapies, and geriatric population medication are attributing to the growth of the neurostimulation devices market.
Presently, product categories within the neurostimulation devices market include spinal cord stimulation devices, auditory brainstem implants, deep brain stimulation devices, sacral nerve stimulation devices, vagus nerve stimulation devices, and non-implantable devices. Till date, the healthcare industry has witnessed a number of successful products for neuromodulation in various applications such as chronic pain, epilepsy, depression, Parkinson’s, urinary and fecal incontinence. Further, several players are now focusing on the development of advanced technology based neuromodulation devices which is anticipated to enhance the growth of the entire market.
The purpose of the study is to gain a holistic view of the global neurostimulation devices market in terms of various factors influencing the market, including regulatory reforms and technological advancements. The market has been segmented into ‘products,’ ‘applications,’ and ‘regions.’ The scope of this report is centered upon conducting a detailed study of the products allied with the neurostimulation devices market. In addition, the study also includes exhaustive information on the unmet needs, perception on the new products, competitive landscape (including pipeline analysis), market share of leading manufacturers, the growth potential of each product, application, and region, as well as other vital information with respect to the market. The report presents the reader with an opportunity to unlock comprehensive insights with respect to the market and helps in forming well-informed strategic decisions. The research uncovers some of the substantial parameters that must be taken into consideration before entering into the market.
This research report aims at answering various aspects of the global neurostimulation devices market with the help of the key factors driving the market, the restraints, and the current growth opportunities that are going to shape the future trajectory of the market expansion. The report includes an in-depth examination of the key players and recent developments taking place in this market. Moreover, the report includes chapters on market dynamics (market drivers, opportunities, and challenges) and industry analysis as well.
The research study highlights the factors governing the industry attractiveness with Porter’s Five Forces for a comprehensive understanding of the global neurostimulation devices market. Moreover, the study includes detailed product mapping, market estimation, and analysis of key trends in multiple regions, growth of the market in each region for different applications, and the key strategies and developments by the prominent neurostimulation devices manufacturers.
• What are the major market drivers, challenges, and opportunities in the global neurostimulation devices market?
• What are the underlying structures resulting in the emerging trends within the industry?
• What was the market value of the leading segments and sub-segments of the global neurostimulation devices market in 2018?
• How is each segment of the global neurostimulation market expected to grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2024?
• What are the influencing factors that may affect the market share of the key players?
• How is the industry expected to evolve during the forecast period, 2019- 2024?
• What are the key developmental strategies which are being implemented by the key players in order to sustain in the competitive market?
• What are the key product types in neurostimulation devices market? What are the major benefits of each product type?
• How has the market been segmented on the basis of application? Which application is dominating the global neurostimulation devices market and its reason?
• Who are the key manufacturers in neurostimulation devices market and what are their contributions?
• What is the status of each major human microbiome modulators manufacturer with respect to their pipeline?
• What is the scope of each neuromodulation product in North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• What are the key regulatory implications in developed and developing regions for neurostimulation devices?
• What is the growth potential of neurostimulation devices in each region, including North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World?
• Which neurostimulation device has the most promising growth and in which application type?
The key manufacturers who have been contributing significantly to the neurostimulation devices market include Abbott Laboratories, Beijing Pins Medical Co. Ltd., Boston Scientific Corporation, Medtronic plc, Nexeon MedSystems Inc. Major players in the non-implantable neurostimulation products are Brainsway Ltd., NeuroMetrix, Inc., and Electocore Inc., among others.
List of Tables
Table 1: Mortality Due to Opioid-Use Disorders
Table 2.1: Impact Analysis of Market Drivers
Table 2.2: Impact Analysis of Market Challenges
Table 4.1: Regulatory Bodies Related to Neurostimulation Devices (by Country)
Table 7.1: North America Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.2: The U.S. Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.3: The Canada Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.4: Europe Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.5: Germany Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.6: The U.K. Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.7: France Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.8: Italy: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.9: Spain: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.10: Russia: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.11: Switzerland: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.12: Asia- Pacific Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.13: Japan: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.14: China: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.15: India: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.16: Australia: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.17: South Korea: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.18: Brazil: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.19: Mexico: Disability-Adjusted Life Years (DALYs), 2014-2017
Table 7.20: Argentina: Disability-adjusted Life Years (DALYs), 2014-2017
List of Figures
Figure 1: Annual Societal Costs of Medical Conditions, the U.S., 2014
Figure 2: Impact of Chronic Pain on Routine Activities
Figure 3: Market Drivers and Market Restraints
Figure 4: Market Statistics
Figure 5: Competitive Scenario
Figure 6: Global Neurostimulation Devices Market, 2018-2024
Figure 7: Growth Share Matrix of Products, 2017
Figure 8: Global Neurostimulation Devices Market (by Application), 2018 and 2024
Figure 9: Growth Share Analysis (by Country), 2017
Figure 1.1: Evolution of Neurostimulation Technologies
Figure 1.2: Segmentation of Neurostimulation Devices Market
Figure 1.3: Global Neurostimulation Devices Market, 2018-2024
Figure 2.1: Market Dynamics
Figure 2.2: U.S. Annual Alzheimer’s Death Rate (per 100,000 People) by Year
Figure 2.3: Ages of People with Alzheimer’s Dementia in the United States, 2018
Figure 3.1: Competitive Landscape, January 2015-February 2019
Figure 3.2: Share of Key Developments and Strategies, January 2015-February 2019
Figure 3.3: Product Launches (by Company), January 2015-February 2019
Figure 3.4: Collaborations, Joint Ventures, and Partnerships Share (by Company), January 2015-February 2019
Figure 3.5: Mergers and Acquisitions Share (by Company), January 2015-February 2019
Figure 3.6: Awards and Recognition (by Company), January 2015-February 2019
Figure 3.7: Business Expansion and Others Share (by Company), January 2015- February 2019
Figure 3.8: Market Share Analysis (by Company), for Global Neurostimulation Devices Market, 2016 and 2017
Figure 3.9: Market Share Analysis (by Company), for Global Spinal Cord Stimulation Devices Market, 2016 and 2017
Figure 3.10: Market Share Analysis (by Company), for Global Deep Brain Stimulation Devices Market, 2016 and 2017
Figure 3.11: Market Share Analysis (by Company), for Global Auditory Brainstem Implants Market, 2016 and 2017
Figure 3.12: Growth Share Matrix for Global Neurostimulation Devices Market (by Product), 2017
Figure 4.1: Share of Patents (by Ownership), 2015-2018
Figure 5.1: Neurostimulation Devices Market Segmentation (by Product)
Figure 5.2: Global Neurostimulation Devices Market (by Product), 2018 and 2024
Figure 5.3: Global Implantable Neurostimulation Devices Market, 2018 and 2024
Figure 5.4: Global Spinal Cord Stimulation Devices Market, (2018-2024)
Figure 5.5: Global Auditory Brainstem Implant Market, (2018-2024)
Figure 5.6: Global Deep Brain Stimulation Devices Market, (2018-2024)
Figure 5.7: Global Vagus Nerve Stimulation Devices Market, (2018-2024)
Figure 5.8: Global Sacral Nerve Stimulation Devices Market, (2018-2024)
Figure 5.9: Global Hypoglossal Nerve Stimulation Devices Market, (2018-2024)
Figure 5.10: Other Neurostimulation Devices Market, (2018-2024)
Figure 5.11: Global Neurostimulation Devices Market (by Non- Implantable Neurostimulation Device Type), 2018-2024
Figure 6.1: Segmentation of Neurostimulation Devices Market (by Application)
Figure 6.2: Global Neurostimulation Devices Market (by Application), 2018 and 2024
Figure 6.3: Global Neurostimulation Devices Market (by Pain Management), 2018-2024
Figure 6.4: Global Neurostimulation Devices Market (by Hearing Loss), 2018-2024
Figure 6.5: Global Neurostimulation devices Market (by Parkinson’s disease), 2018-2024
Figure 6.6: Global Neurostimulation Devices Market (by Epilepsy), 2018-2024
Figure 6.7: Global Neurostimulation Devices Market (by Urinary and Fecal Incontinence), 2018-2024
Figure 6.8: Global Neurostimulation Devices Market (by Depression), 2018-2024
Figure 6.9: Global Neurostimulation Devices Market (by Other Applications), 2018-2024
Figure 7.1: Global Neurostimulation Devices Market (by Region), 2018 and 2024
Figure 7.2: North America: Neurostimulation Devices Market, 2018-2024
Figure 7.3: North America: Market Dynamics
Figure 7.4: North America: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.5: U.S.: Neurostimulation Devices Market, 2018-2024
Figure 7.6: Canada: Neurostimulation Devices Market, 2018-2024
Figure 7.7: Europe: Neurostimulation Devices Market, 2018-2024
Figure 7.8: Europe: Market Dynamics
Figure 7.9: Europe: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.10: Germany: Neurostimulation Devices Market, 2018-2024
Figure 7.11: U.K.: Neurostimulation Devices Market, 2018-2024
Figure 7.12: France: Neurostimulation Devices Market, 2018-2024
Figure 7.13: Italy: Neurostimulation Devices Market, 2018-2024
Figure 7.14: Spain: Neurostimulation Devices Market, 2018-2024
Figure 7.15: Russia: Neurostimulation Devices Market, 2018-2024
Figure 7.16: Switzerland: Neurostimulation Devices Market, 2018-2024
Figure 7.17: Rest-of-Europe: Neurostimulation Devices Market, 2018-2024
Figure 7.18: Asia-Pacific: Neurostimulation Devices Market, 2018-2024
Figure 7.19: Asia-Pacific: Market Dynamics
Figure 7.20: Asia-Pacific: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.21: Japan: Neurostimulation Devices Market, 2018-2024
Figure 7.22: China: Neurostimulation Devices Market, 2018-2024
Figure 7.23: India: Neurostimulation Devices Market, 2018-2024
Figure 7.24: Australia: Neurostimulation Devices Market, 2018-2024
Figure 7.25: South Korea: Neurostimulation Devices Market, 2018-2024
Figure 7.26: Rest-of-Asia-Pacific: Neurostimulation Devices Market, 2018-2024
Figure 7.27: Latin America: Neurostimulation Devices Market, 2018-2024
Figure 7.28: Latin-America: Market Dynamics
Figure 7.29: Latin-America: Neurostimulation Devices Market (by Country), 2018 and 2024
Figure 7.30: Brazil: Neurostimulation Devices Market, 2018-2024
Figure 7.31: Mexico: Neurostimulation Devices Market, 2018-2024
Figure 7.32: Argentina: Neurostimulation Devices Market, 2018-2024
Figure 7.33: Rest-of-Latin America: Neurostimulation Devices Market, 2018-2024
Figure 7.34: Rest-of-the-World: Neurostimulation Devices Market, 2018-2024
Figure 8.1: Market Scenario
Figure 8.2: Growth Share Matrix for Global Neurostimulation Devices Market (by Prominent Companies), 2017
Figure 8.3: Shares of Key Company Profiles
Figure 8.4: Abbott Laboratories: Overall Product Portfolio
Figure 8.5: Abbott Laboratories: Overall Financials, 2015-2017
Figure 8.6: Abbott Laboratories: Revenue (by Segment), 2015-2017
Figure 8.7: Abbott Laboratories: Revenue (by Region), 2015-2017
Figure 8.8: Abbott Laboratories: R&D Expenditure, 2015-2017
Figure 8.9: Abbott Laboratories: SWOT Analysis
Figure 8.10: Bayer AG: Overall Product Portfolio
Figure 8.11: Bayer AG: Overall Financials, 2016-2018
Figure 8.12: Bayer AG: Revenue (by Segment), 2016-2018
Figure 8.13: Bayer AG: Revenue (by Region), 2016-2018
Figure 8.14: Bayer AG: R&D Expenditure, 2016-2018
Figure 8.15: Bayer AG: SWOT Analysis
Figure 8.16: Boston Scientific Corporation: Overall Product Portfolio
Figure 8.17: Boston Scientific Corporation: Overall Financials, 2015-2017
Figure 8.18: Boston Scientific Corporation: Revenue (by Segment), 2015-2017
Figure 8.19: Boston Scientific Corporation: Revenue (by Sub-segment), 2015-2017
Figure 8.20: Boston Scientific Corporation: R&D Expenditure, 2015-2017
Figure 8.21 Boston Scientific Corporation: SWOT Analysis
Figure 8.22: Cochlear Ltd.: Product Portfolio for Neurostimulation Devices Market
Figure 8.23: Cochlear Ltd.: Overall Financials, 2016-2018
Figure 8.24: Cochlear Ltd.: Revenue (by Segment), 2016-2018
Figure 8.25: Cochlear Ltd.: Revenue (by Region), 2016-2018
Figure 8.26: Cochlear Ltd.: R&D Expenditure
Figure 8.27: Cochlear Ltd.: SWOT Analysis
Figure 8.28: Helius Medical Technologies, Inc.: Overall Product Portfolio
Figure 8.29: Helius Medical Technologies, Inc.: SWOT Analysis
Figure 8.30: Inspire Medical System, Inc.: Overall Product Portfolio
Figure 8.31: Inspire Medical System, Inc.: Overall Financials, 2016-2018
Figure 8.32: Inspire Medical System, Inc.: Revenue (by Region), 2015-2017
Figure 8.33: Inspire Medical System, Inc.: R&D Expenditure, 2015-2017
Figure 8.34: Inspire Medical System Inc.: SWOT Analysis
Figure 8.35: Laborie Medical Technologies, Inc.: Overall Product Portfolio
Figure 8.36: Laborie Medical Technologies, Inc.: SWOT Analysis
Figure 8.37: LivaNova PLC: Overall Product Portfolio
Figure 8.38: LivaNova PLC: Overall Financials, 2015-2017
Figure 8.39: LivaNova PLC (by Segment), 2015-2017
Figure 8.40: LivaNova PLC: Revenue (by Region), 2015-2017
Figure 8.41: LivaNova PLC: Revenue for neuromodulation segment (by Region), 2015-2017
Figure 8.42: LivaNova PLC: R&D Expenditure, 2015-2017
Figure 8.43: LivaNova PLC: SWOT Analysis
Figure 8.44: Medtronic plc: Overall Product Portfolio
Figure 8.45: Medtronic plc: Overall Financials, 2016-2018
Figure 8.46: Medtronic plc: Revenue (by Segment), 2016-2018
Figure 8.47: Medtronic plc: Revenue (by Region), 2016-2018
Figure 8.48: Medtronic plc: R&D Expenditure, 2016-2018
Figure 8.49: Medtronic plc: SWOT Analysis
Figure 8.50: NeuroMetrix, Inc.: Overall Product Portfolio
Figure 8.51: NeuroMetrix, Inc.: Overall Financials, 2015-2017
Figure 8.52: NeuroMetrix, Inc.: R&D Expenditure, 2016-2018
Figure 8.53: NeuroMetrix, Inc.: SWOT Analysis
Figure 8.54: NeuroPace, Inc.: Overall Product Portfolio
Figure 8.55: NeuroPace, Inc.: SWOT Analysis
Figure 8.56: Nuvectra Corporation: Overall Product Portfolio
Figure 8.57: Nuvectra Corporation: Overall Financials, 2016-2018
Figure 8.58: Nuvectra Corporation: Revenue (by Segment), 2016-2018
Figure 8.59: Nuvectra Corporation: Revenue (by Region), 2016-2018
Figure 8.60: Nuvectra Corporation: R&D Expenditure, 2016-2018
Figure 8.61: Nuvectra Corporation: SWOT Analysis
Figure 8.62: SPR Therapeutics, LLC: Overall Product Portfolio
Figure 8.63: SPR Therapeutics, LLC: SWOT Analysis
Figure 8.64: STYMCO Medical, LLC: Overall Product Portfolio
Figure 8.65: STYMCO Medical, LLC: SWOT Analysis
Figure 8.66: Synapse Biomedical Inc.: Overall Product Portfolio
Figure 8.67: Synapse Biomedical Inc.: SWOT Analysis
Figure 9.1: Global Neurostimulation Devices Market Segmentation
Figure 9.2: Global Neurostimulation Devices Market Research Methodology
Figure 9.3: Primary Research
Figure 9.4: Secondary Research
Figure 9.5: Data Triangulation
Figure 9.6: Bottom-up Approach (Segment-wise Analysis)
Figure 9.7: Top-down Approach (Segment-wise Analysis)
Figure 9.8: Assumptions and Limitations
Figure 9.9: Considered Factors for Data Prediction and Modeling
The emergence of factors such as changing dietary habits, irregular sleep patterns, sedentary lifestyles, and stringent work patterns involving prolonged work duration, poor body postures, repetitive trauma, and high levels of anxiety and stress are the leading causes of neurological disorders and chronic pain. Further, the high prevalence of road accidents resulting in devastating traumatic injury has significantly increased the cases of spinal cord injuries resulting in dysfunctioning of the nervous system. According to the Global Health Data Exchange, in 2017 the combined global incidence of neurological disorders and chronic pain was 3.97 billion, which includes several medical conditions such as Alzheimer’s disease and other dementias, low back pain, stroke, traumatic brain injury, migraine, epilepsy, multiple sclerosis, spinal cord injury, and Parkinson's disease.
Another largely undermined factor of rising neuromodulation therapy is chronic pain. According to the World Health Organization (WHO), four of top 10 leading causes of disability were chronic pain conditions that include migraine, lower back pain, neck pain, and musculoskeletal disorders, in 2013. Despite the high economic burden, chronic pain also has several detrimental effects on the quality of lives of the patient population and their respective families. Accompanied by the high risk of significant disability, chronic pain also leads to psychological disorders such as depression and anxiety. More than 30% of chronic pain-affected population reported difficulty in handling mundane tasks such as cleaning, bathing, driving, sleeping, participating in fitness activities, and participating in social activities.
As of 2018, the neurostimulation devices market can be seen to have exposure in various countries. Additionally, with the rapid advancements taking place and an exponential progression in the number of companies entering the space, access to consumers is bound to become easier. The global neurostimulation devices market has been witnessing annual growth rate of approximately 13.14% in past three years (2015-2018), and the market is expected to continue to grow with the CAGR of 9.23% during the forecast period, 2019-2024. Growing at a CAGR of 9.32% during the forecast period of 2019-2024, the spinal cord stimulation devices segment is anticipated to generate a value of $4.7 billion in 2024. However, the global market for auditory implants is anticipated to grow at the fastest CAGR of 12.94% during the forecast period 2019-2024.
The purpose of the study is to gain a holistic view of the global neurostimulation devices market in terms of various factors such as recent trends and product advancements, influencing the market. The scope of this report is centered upon conducting a detailed study of the products allied with the neurostimulation devices market, which includes various products such as spinal cord stimulation devices, auditory brainstem Implant, deep brain stimulation, vagus nerve stimulation devices, and sacral nerve stimulation devices. The neurostimulation devices market is segmented into three different parts, namely products, applications, and region. The global market value was estimated on the basis of these three different approaches which were validated against one another. These segments are further segmented into several sub-segments to ease the market estimation and to gain a holistic view of the market.
Based on region, the global neurostimulation devices market is segmented into North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (RoW). North America is the leading contributor in the global neurostimulation devices market and was responsible for a 64.19% share of the global market values in 2018. However, Asia-Pacific is expected to grow the fastest among all other regions with a CAGR of 13.51% during the forecast period 2019-2024.
The key neurostimulation devices manufacturers which have been contributing significantly to the neurostimulation devices market include Cochlear Ltd., Abbott Laboratories, and Neuronetics Inc., Nexstim Plc, ElectroCore, Inc., Mainstay Medical International plc, Nexeon MedSystems Inc., Axonics Modulation Technologies, Inc., Allergan plc, and Helius Medical Technology, among others.
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