The Global External Neurostimulation Market, is mainly driven by aging population, higher incidence of chronic disorders, wide range of application, cost effectiveness of the device, and rise in demand of non –invasive therapy and effective in diseases like joint disorders, Alzheimer’s disease, chest pain, autoimmune disorders, nerve disorders, labor pain, nausea, gastro paresis, and multiple sclerosis, peripheral nerve injuries, migraine, muscular pain expected to grow at a CAGR of 10.4% in the next five years primarily due to technical advances and patient-friendly techniques such as non-invasive. The External Neurostimulation market was $600 million in 2013 and expected to reach $983.7 million by 2018 at a CAGR of 10.4%.
The report “External Neurostimulation Market forecast, 2008-2018 “analyzes the External Neurostimulation market segmentation by 2 modalities Transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS).
All of these segments experienced a positive growth till 2012 with an increased awareness for procedures and sophisticated diagnostic techniques. With a market value of $0.4 and $0.1 billion, Transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS) have been contributing around 80% and 21% in terms of value towards total External Neuromodulation device market. Both the markets have been witnessing the maximum growth because of increase in patient pool and procedure numbers of transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS).
Procedure Volume growth is significantly higher in BIC (Brazil, India, China) and Mexico because of fast disease progression, higher prevalence, improving healthcare infrastructure, economic growth, broadening insurance coverage, expanding private healthcare sector and increasing awareness amongst people.
According to the International Neurostimulation Society, about 40-50 million patients worldwide suffer from epilepsy and 1.5 million from Parkinson’s in the U.S. alone. A wide pool of patients suffering from other conditions such as depression, stroke, anxiety disorders, lower back pain, urinary incontinence, and tremor are also an influential factor in triggering the market towards growth. Treatment for tinnitus represents one of the emerging applications in External Neurostimulation market. According to the American Tinnitus Association, about 50 million people suffer from the disease in the U.S. alone.
Overall, TENS devices have an accountable market size as they are inexpensive, easily available to end users, self administered; lack of tight regulations pertaining to these devices and wide usage by end-users without medical prescription is also propelling their growth. However, the treatment is found to be less effective in the long run; this will restrain the growth of the External Neurostimulation market.
The major drivers for the TENS market is rise in aging population, higher incidence of chronic disorders, wide range of application, cost effectiveness of the device, and rise in demand of non –invasive therapy. However, the major restraints of this market are less-effective outcomes of the device, less advanced technology as compared to TMS, and evidence of the device providing better results when used with other minimally and non-invasive neuromodulation devices. According to the World Health Organization, about 350 million people suffer from depression by 2012; it is estimated that it will become second most concern disease worldwide by 2020.
The report also provides an extensive competitive landscaping of companies operating in External Neurostimulation market. Major players in the External Neurostimulation market include Medtronic, Inc. (U.S.), Cyberonics, Inc. (U.S.), Boston Scientific Corp. (U.S.), St. Jude Medical, Inc. (U.S.), Enteromedics, Inc. (U.S.), Dynatronics Corp. (U.S.), and Neuronetics (U.S.). Emerging players include Functional Neuromodulation Ltd. (U.S.), MicroTransponder, Inc. (U.S.), Zynex Medical, Inc. (U.S.) and Neurotech SA – a Sorin Group Company (Belgium).
Segment and country specific Company shares, News & Deals, M&A, segment specific pipeline products, product approvals and product recalls of the major companies in External Neurostimulation have been detailed.
With Market data, you can also customize MMM assessments that meet your Company’s specific needs. Customize to get comprehensive industry standard and deep dive analysis of the following parameters:
- Usage pattern (in-depth trend analysis) of products (Segment wise)
- Product Matrix which gives a detailed comparison of product portfolio of each company mapped at country and sub segment level
- End-user Adoption rate analysis of the products (Segment wise and Country wise)
- Comprehensive coverage of Product approvals, Pipeline products and Product recalls
- Country specific Prevalence of Alzeimers ,Parkinson’s, Epilepsy and Depression
- Country specific Incidence of Alzeimers, Parkinson’s, Epilepsy, and stroke
- Country specific Mortality rate of Stroke and Epilepsy
- Country specific Patient pool of Alzeimers, Parkinson’s, Epilepsy ,Chronic pain, Depression
- Disease progression (Pattern analysis)
Procedure Volume Data
- Number of surgeries for Epilepsy, Chronic pain, Alzeimers and Parkinson’s country wise
Surgeons / Physicians Perception analysis
- Fast turn-around analysis of Surgeons response to market events and trends
- Pattern analysis of usage of Transcutaneous electrical nerve stimulation (TENS) and transcranial magnetic stimulation (TMS) by Physicians
- Surgeons opinion about products from different companies
- Surgeons qualitative inputs on epidemiology data
Brand/Product Perception Matrix
- Comprehensive study of customers perception and behavior through our inbuilt social connect tool checking the virality and tonality of blogs
- Analysis of overall brand usage and familiarity and brand advocacy distribution (Detractor/Neutral/Familiar)
- Cost analysis of External Neurostimulation devices in major countries
- External Neurostimulation procedural investment in major countries
- The company share analysis for External Neurostimulation top players of the market in the region
- The crucial developments and strategies of companies inculcating in their portfolio of External Neurostimulation
1.1 Analyst Insights
1.2 Market Definitions
1.3 Market Segmentation & Aspects Covered
1.4 Research Methodology
2 Executive Summary
3 Market Overview
4 By SurgeryProcedures
4.1 Direct Nerve Repair
4.2 Nerve Grafting
4.3 Stem cell therapy
5 By Types
5.1 Transcutaneous Electrical Nerve Stimulation
5.2 Transcranial Magnetic Stimulation
6 By Geographies
6.1 North America
6.4 Rest of World
7 By Companies
7.1 Medtronic, Inc.
7.2 St. Jude Medical, Inc.
7.3 Boston Scientific
7.4 Johnson & Johnson
7.6 Greatbatch Inc
7.7 Biocontrol Medical
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Transcutaneous Electrical Nerve Stimulation and Transcranial Magnetic Stimulation adds up to total
Transcranial Magnetic Stimulation
Transcranial Magnetic Stimulation and Transcutaneous Electrical Nerve Stimulation adds up to total
North American External Neurostimulation / Neuromodulation devices Market
The North American external neurostimulation/neuromodulation market is expected to grow significantly due to the growing awareness of consumers and the demand of the aging population to treat prevalent lifestyle & chronic disorders such as arthritis, migraines, and so on. The market report provides information and analysis of the market values, drivers & restraints, competitive scenario, and market opportunities, among others. The U.S., Canada, and Mexico are the major countries that have been considered for this extensive market analysis.
European External Neurostimulation / Neuromodulation devices Market
The European external neurostimulation/neuromodulation market is expected to grow due to the growing demands of the aging population in the region to treat disorders such as arthritis, migraines, and so on. The market report provides market insights such as market values, drivers & restraints, competitive landscape, and market opportunities, among others. The U.K., Germany, France, and Italy, among others, are the major countries that have been considered for this extensive market analysis.
Asian External Neurostimulation / Neuromodulation Market
The Asian external neurostimulation/neuromodulation market is expected to grow due to the growing demands of the population in the region to treat lifestyle & chronic disorders such as arthritis, migraines, and so on. Asia is among the fastest-growing markets for these devices. The market report provides insights into market variables such as market values, drivers & restraints, competitive landscape, and market opportunities. Japan, China, and India, among others, are the major countries that have been considered for this extensive market analysis.