Implantable Neurostimulators Market Size Worth $11.0 Billion By 2027 | CAGR: 11.7%: Grand View Research, Inc.

SAN FRANCISCO, Oct. 13, 2020 /PRNewswire/ -- The global implantable neurostimulators market size is anticipated to reach USD 11.0 billion by 2027, expanding at a CAGR of 11.7%, according to a new report by Grand View Research, Inc. Increasing incidence of neurological diseases and higher occurrence of associated chronic pain and discomfort are driving the market.

Key suggestions from the report:

• On the basis of type, the spinal cord stimulators segment dominated the market with a share of 52.5% in 2019. As they are widely used in the non-malignant chronic neuropathic pain management which do not respond to pain medications
• Based on application, the pain management segment dominated the market with a share of 65.1% in 2019 owing to the high prevalence of chronic pain disorders such as disk surgery pain, migraine, limb and leg pain, particularly with the aging population
• North America dominated the market with the highest revenue share of 49.2% in 2019 owing to continuous product launches by key players in this region. For instance, in November 2019, Nevro Corporation announced the U.S. FDA approval and launch of Senza Omnia SCS system in the U.S. market to treat chronic pain.

 Read 120 page research report with ToC on "Implantable Neurostimulators Market Size, Share & Trends Analysis Report By Type (Deep Brain Stimulators, Spinal Cord Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators), By Application, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/implantable-neurostimulators-market 

The rising prevalence of neurological diseases such as Parkinson's disease, epilepsy, essential tremor, chronic pain, and depression will result in increased demand for implantable neurostimulators. According to the WHO, in 2020, around 50.0 million people worldwide are suffering from epilepsy. Implanted neurostimulators are used to control epileptic seizures. Thus, increasing people suffering from epilepsy is expected to boost the market growth.

Moreover, the growing base of the aging population is more susceptible to neurological disorders, which is anticipated to be a high-impact rendering driver for this market. According to the CDC, Parkinson's disease (PD) is mostly diagnosed in individuals above the age of 60 and it is projected that PD affects 1.0% of the people over the age of 60 to 4% by age of 80.

Furthermore, the incorporation of new technologies, and the introduction of new products by market players, is likely to boost the market during the forecast period. For instance, in September 2019, Abbott received U.S. FDA approval for its Proclaim XR recharge-free SCS system for the management of chronic pain.

Grand View Research has segmented the global implantable neurostimulators market on the basis of type, application, and region:

• Implantable Neurostimulators Type Outlook (Revenue, USD Million, 2016 - 2027)
• Spinal Cord Stimulators
• Deep Brain Stimulators
• Sacral Nerve Stimulators
• Vagus Nerve Stimulators
• Gastric Electric Stimulators
• Implantable Neurostimulators Application Outlook (Revenue, USD Million, 2016 - 2027)
• Pain Management
• Parkinson's Disease
• Urinary and Fecal Incontinence
• Epilepsy
• Gastroparesis
• Others
• Implantable Neurostimulators Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• Canada
• Europe
• Germany
• Italy
• The U.K.
• France
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Argentina
• Brazil
• Mexico
• Colombia
• Middle East & Africa
• South Africa
• South Arabia
• UAE
• List of Key Players of Implantable Neurostimulators Market
• Abbott (St. Jude Medical)
• Medtronic
• Boston scientific Corporation
• Aleva Neurotherapeutics SA
• Synapse Biomedical Inc.
• Nevro Corp.
• LivaNova PLC
• NeuroPace, Inc.

Find more research reports on Medical Devices Industry, by Grand View Research:

• MRI-guided Neurosurgical Ablation Market – The global MRI-guided neurosurgical ablation market size was valued at USD 493.4 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% from 2020 to 2027.
• Neurovascular Devices Market – The global neurovascular devices market size was valued at USD 2.6 billion in 2019 and is anticipated to expand at a CAGR of 5.6% over the forecast period.
• Neurology Ultrasonic Aspirators Market – The global neurology ultrasonic aspirators market size was valued at USD 329.06 million in 2018 and is anticipated to expand at a CAGR of 5.6% by 2026.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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