Neurostimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

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Neurostimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029

Status : May, 2021 | Medical Devices

Report Digest

Neurostimulation Devices Market: An Overview

The neurostimulation devices market is expected to witness major growth in the near future as new FDA approved devices promise to treat chronic illnesses like Alzheimer’s. the disease affects more than 5.5 million people of all ages in the United States. Additionally, the disease is especially a burden for the elderly who constitute over 5.3 million of those. The disease does not yet have a treatment. However, devices like NeuroAD have been approved for treatment in Europe, and Israel. The device did not receive FDA approval, due to its inability to show effectiveness during trials. However, the FDA found it safe to use, which continues to boost its use. Moreover, the US congress has approved major budget increase for AD research going into 2020. The United States congress approved budget of US$2.8 bn, with an increase of over $350 million from 2019. The increased research in brain illnesses like AD, and growing funding, and approval for promising devices continue to boost prospects for the neurostimulation devices market.

Neurostimulation Devices Market: Notable Developments

A chip designed to treat epilepsy is also showing promise for treating one of the largest disorder globally, obesity. According to a new study published in the National Academy of Sciences journal, the chip known as responsive neurostimulation system or RNS has shown promise in trials with mice. The chip essentially zaps the brain of obese people when they think of food. The electrical stimulation acts as a deterrent in the form of a mild shock. It also monitors brain activity continuously to provide information on activity like seizure. While it is difficult to predict if devices like these will take off, their development is definitely promising for those who are concerned about risin epidemic of obesity. The device promises to make real-inroads in suppressing harmful behaviour like binge-eating, and promises a new direction for players in the neurostimulation devices market.

Neurostimulation Devices Market: Drivers and Restraints

Rising awareness about mental diseases like depression, Parkinson’s, and epilepsy are expected to drive major growth for the neurostimulation devices market. Additional, conventional drug therapies promise little headways in neurostimulation in many devices, and can be dangerous, especially to the elderly. The conventional therapies fail to provide a non-invasive surgical option, and drug treatment can also result in major side-effects, which makes way for promising growth for the neurostimulation devices market. FDA has also approved neurostimulation devices for major illnesses like chronic pain recently. The device named Proclaim XR recently received FDA approval. It uses low-dosage stimulation waveform, which mimics natural brainwaves, and changes pain signals travelling from the spinal cord to the brain. The growing understanding of how the brain functions, thanks to advancements in technologies like MRI, and non-invasive nature of needed treatment will drive tremendous growth for the neurostimulation devices market in near future.

Neurostimulation Devices Market: Geographical Analysis

Neurostimulation devices market report will cover all regions of the globe including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, North America is expected to remain dominant in growth as FDA approval for devices for epilepsy shows major promise for players in the region. Additionally, increased support for research for fatal illnesses like Alzheimer’s and need for minimally-invasive treatment for those promise a major government push with funding promises opportunities for growth in the neurostimulation devices market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?