Neurostimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
Neurostimulation Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 - 2029
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.
The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.
TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.
TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.
5-Point Growth Formula
The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.
The 5-point growth formula includes the following points:
- Current and Future Threats
- Accurate Trend Analysis
- Regional Assessment
- Industrial Analogy
- COVID-19 Impact
Current and Future Threats
Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.
Accurate Trend Analysis
Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.
Regional Assessment
Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.
Industrial Analogy
The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.
COVID-19 Impact
The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.
The reports offer answers to the top 7 questions that revolve around the growth of the market
- What are the diverse growth parameters influencing the market?
- Which regions will contribute largely to the growth of the market
- What are the recent innovations and technological advancements in the market?
- What are the emerging trends across the market?
- How has COVID-19 affected the market?
- What will be the post-pandemic scenario of the market?
- What are the major threats that will dent the growth prospects of the market?
Flat 10% discount on Single User License if you prebook this report
Flat 10% discount on Multiple User License if you prebook this report
Flat 10% discount on Corporate License if you prebook this report