The Neuromodulation Devices Market report provides an in-depth analysis of the market and focuses on aspects such as growth drivers, restraints, leading products, and major industry developments. It discusses the competitive landscape of the market and labels out leading players.
The globalneuromodulation devices marketsize is projected to reach USD 9.34 billion by 2026, exhibiting a CAGR of 9.5% during the forecast period. Steady climb in the prevalence of chronic conditions across the globe will be a key factor fueling the growth of this market, observes Fortune Business Insights™ in its report, titled “Neuromodulation Devices Market Size, Share and Industry Analysis, By Product Type (Spinal Cord Stimulators (SCS), Deep Brain Stimulators (DBS), Vagus Nerve Stimulators (VNS), Sacral Nerve Stimulators (SNS), Transcranial Magnetic Stimulators (TMS), and Others), By Type (Invasive, and Non-invasive), By Application (Pain Management, Neurological Disorders, Respiratory Disorders, and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2019-2026”.
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Chronic conditions or non-communicable diseases (NCDs), such as sleep apnea and epilepsy, can be understood as complications in health that affect the normal functioning of an individual over a prolonged period of time. The World Health Organization (WHO) estimates that NCDs are responsible for nearly 60% of global deaths every year and account for roughly 43% of global burden of disease. According to the WHO, these conditions will account for 73% of deaths worldwide by 2020, with approximately 79% of deaths occurring in emerging economies. Thus, the need for effective therapies is escalating and neurostimulation devices are being seriously considered as a viable treatment for chronic conditions.
Leading Players operating in the Neuromodulation Devices Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
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Regional Dynamics
Widespread Prevalence of Chronic Conditions to Fuel the Market in North America
With a market size of USD 2.10 billion in 2018, North America is set to dominate the neuromodulation devices market share in the forthcoming years, mainly on account of high prevalence of chronic diseases in the region. In addition to this, availability and accessibility to advanced treatments will further propel the market in the region.
In Europe, a robust healthcare infrastructure will provide the necessary foundation for this market to grow and expand, with active support from regulatory authorities in the continent. Asia Pacific is expected to register a high CAGR owing to increasing per capita health spending and rising investment in healthcare infrastructure. On the other hand, untapped regions of Latin America, the Middle East, and Africa will present several opportunities for players, the neurostimulation devices market analysis states.
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Detailed Table of Content:
Continued…
Market Segmentation:
By Type
By Application
By End User
By Geography
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