Neurostimulation Devices Market to hit USD 20.1 billion by 2030, says Global Market Insights Inc.
Neurostimulation devices industry is projected to register 11% CAGR between 2022 and 2030 owing to rising acceptance of minimally invasive surgeries across the globe.
Selbyville, Delaware, Aug. 25, 2022 (GLOBE NEWSWIRE) —
Neurostimulation Devices Market value is set to cross USD 20.1 billion by 2030, according to a new research report by Global Market Insights Inc.
Patients with debilitating psychiatric and neurological disorders are benefiting from technological advancements in different types of neurostimulation devices. For example, in May 2019, Nevro launched Omnia, a next-generation spinal cord stimulation system, to treat chronic pain in the U.S. Apart from their increasing adoption for pain management, of neurostimulation devices are deemed effective for use in deep brain stimulation for movement control and other applications.
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Gastric electric stimulators to gain popularity for GI disorder treatment
Neurostimulation devices market from gastric electric stimulator segment accounted for 5% revenue share in 2021. This is attributable to the growing cases of gastroparesis, which is a highly prevalent condition among patients diagnosed with gastrointestinal (GI) disorders and diabetes. The report cites that the rising burden of these disorders will create a strong outlook for the global market expansion.
Rising popularity of minimally invasive surgeries to bolster industry share from the urinary and fecal incontinence segment
The urinary and fecal incontinence segment was valued at USD 700 million in 2021, which was credited to the rapid innovation in advanced urinary incontinence devices. The burden of urological disorders has also witnessed a dramatic increase in recent years, leading to the robust demand for minimally invasive surgical procedures. These factors will augment the use of neurostimulation devices in urinary and fecal incontinence treatment applications.
Browse key industry insights spread across 138 pages with 128 market data tables & 13 figures & charts from the report, “Neurostimulation Devices Market Analysis by Product, Application, Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/neurostimulation-devices-market-report
Neurostimulators to emerge as a promising treatment for depression in the APAC region
Asia Pacific neurostimulation devices market held over 15% of the business share in 2021, given the surging prevalence of neurological disorders including depression in developing economies such as India. According to the World Health Organization, 7.5% of Indians live with depression. This may proliferate the usage of brain neurostimulators for effective treatment of such conditions. As compared to conventional surgical procedures, the popularity of minimally invasive techniques has also increased tremendously, thereby stimulating regional market growth by 2030.
Product range expansions to remain a prominent growth strategy among neurostimulation devices market players
The strategic landscape of the neurostimulation devices industry is inclusive of Abbott, Boston Scientific, Laborie, ElectroCore Inc., Aleva Synapse Biomedical Inc., EndoStim Inc., Medtronic, Cyberonics, and SPR Therapeutics, among other companies. They are mainly engaging in product range expansion strategies to strengthen their position in the market.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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