Neurostimulators are devices used to send electrical signals to the brain, central, and peripheral nervous system. These devices are usually powered by batteries. External neurostimulation devices have grown with regards to demand and usage in the Asian region owing to technological advancements in the Asian medical care delivery systems. External neurostimulation devices are highly non-invasive in nature, which is why these provide benefits such as high comfort and usage convenience. Furthermore, external neuromodulation is a technique that is gaining momentum in the Asian markets. These devices are mainly used to treat nerve-related disorders. The external neurostimulation/neuromodulation devices market is expected to grow significantly in the coming years, mainly owing to the rising demand for these devices to treat lifestyle & chronic disorders such as migraines, tennis elbow, spasms, which are prevalent due to changing lifestyles of the Asian population.
In 2013, the Asian external neurostimulation/neuromodulation devices market accounted for a share of 23.92% in the global neurostimulation/neuromodulation devices market. The Asian market is projected to grow at a CAGR of 10.5% from 2013 to 2018. Asia and Europe are among the fastest-growing market segments for external neurostimulation & neuromodulation devices. Japan is the largest contributor to the Asian market, owing to technological advancements and innovations in the economy. China and India are other major contributors to the Asian market. The Asian market has been segmented and analyzed in terms of two types-transcranial magnetic stimulation and transcutaneous electrical nerve stimulation (TENS). TENS holds a large majority of the Asian external neurostimulation/neuromodulation devices market.
Japan has been observed to have a large share of the aging population, who are prone to aging-related disorders such as arthritis and spasms. In addition, the prevalence of disorders such as migraines and tennis elbow is high in India, China, and South Korea as a result of changing lifestyles in these economies. Hence, the demand for neurostimulation & neuromodulation devices is projected to grow significantly in the Asian region, from 2013 to 2018. One of the main factors that enable growth in the popularity of these devices in Asia is the non-invasive and cost-effective nature of the external neurostimulators and neuromodulators. Some of the major companies in the field are expected to expand their operations into the Asian region; the companies include BioControl Medical (Israel), Boston Scientific Corporation (U.S.), and Johnson & Johnson (U.S.), among others. Boston Scientific and Johnson & Johnson have well-established operations in India and China.
The Asian external neurostimulation/neuromodulation devices market report provides an analysis of various segments of the market. The Asian market has been segmented in terms of types, surgery procedures, and major countries in the region. The major surgery procedures that are operational in the given market are direct nerve repair, nerve grafting, and stem cell therapy. In terms of types, the market has been segmented into transcranial magnetic stimulation and transcutaneous electrical nerve stimulation (TENS). Healthcare expenditure is one of the most essential variables considered for the market analysis.
Please fill in the form below to receive a free copy of the Summary of this Report
Please visit http://www.micromarketmonitor.com/custom-research-services.html to specify your custom Research Requirement
Asian Neurostimulation/Neuromodulation devices Market
The Asian Neurostimulation/Neuromodulation market was expected to reach from $415.32 million in 2013 to $777.62 million by 2018 at a CAGR of 13.4%. The market divided by 2 segments such as Internal Neuromodulation and External Neuromodulation. The internal neuromodulation devices market includes spinal cord stimulation (SCS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulation (SNS), gastric electrical stimulation (GES), and external neuromodulation devices such as transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS). Major players in the 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.).
European Neurostimulation/Neuromodulation Devices Market
The report also provides a detailed competitive landscaping of companies operating in this market. Segment- and country-specific company shares, news & deals, M&A, segment-specific pipeline products, product approvals, and product recalls of major companies are detailed in the report. Boston Scientific (U.S.), Cyberonics (U.S), Medtronic, Inc. (U.S.), Depuy Synthes (Johnson & Johnson) (U.S.), and St. Jude Medical Inc. (U.S.) are some of the key players engaged in this market.
North America Internal Neuromodulation Devices Market
The North America neuromodulation market has been segmented by procedure, modality, and geography. On the basis of procedure, the market is further segmented into internal and external stimulation. The internal stimulation segment accounted for a share of 87.4% in the neuromodulation market. The market based on modality covers internal and external modality. The internal modality segment accounted for a share of 85.9% in the neuromodulation market.