Battery-powered devices, which are used to send electrical signals to the brain, central, and peripheral nervous system, are known as neurostimulators. The demand for external neurostimulation devices is rapidly growing in the European markets, as these devices are highly non-invasive and offer benefits such as comfort and convenience. External neuromodulation is an advanced technique that has been designed to treat neuropathic disorders. The external neurostimulation/neuromodulation devices market is expected to grow significantly in the near future, mainly owing to the rising demand for these devices to treat headaches, migraines, tennis elbow, spasms, arthritis, along with other lifestyle & chronic disorders.
The European external neurostimulation/neuromodulation devices market held a major share of 29.06% in the global neurostimulation/neuromodulation devices market in 2013. The European market is forecast to grow at a CAGR of 10.5% from 2013 to 2018. Germany is the largest contributor to the European market, followed by France, Italy, and the U.K., among others. The European market has been analyzed in terms of two of its segments-transcranial magnetic stimulation and transcutaneous electrical nerve stimulation (TENS), where TENS holds a majority of the given external devices market.
Europe is a region with a high share of the aging population, similar to North America. In addition, owing to the prevalence of obesity and unhealthy lifestyles among the population, the incidence of chronic disorders is high in the European region. The external neurostimulation/neuromodulation devices find applications mainly to treat disorders such as arthritis, spasm, migraine, and so on. The growing incidence of these disorders thereby leads to an increase in the demand for external neurostimulation & neuromodulation devices in the region. Moreover, the non-invasive nature of the neurostimulation/neuromodulation treatment, combined with the cost-effectiveness of the devices, also drives the demand high for external neurostimulation & neuromodulation devices in Europe. Thus, the European market is projected to grow significantly from 2013 to 2018. The major companies that are expected to cater to this rapidly-growing demand are Cyberonics, Inc. (U.S.), Greatbatch, Inc. (U.S.), and Johnson & Johnson (U.S.), among others.
The European external neurostimulation/neuromodulation devices market report covers the segmentation of the market. The European market has been segmented in terms of surgery procedures, types, and major countries in the region. On the basis of types, the market has been segmented into transcranial magnetic stimulation and transcutaneous electrical nerve stimulation. The main surgery procedures in the market are direct nerve repair, nerve grafting, and stem cell therapy. The most important macroindicator for this market is healthcare expenditure.
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.