The Europe Neurostimulation Devices Market would witness market growth of 12.1% CAGR during the forecast period (2020-2026).
The market growth of the neurostimulation devices and the cost of devices are nevertheless expected to be reduced by side-effects such as allergic reactions or tingling or prickling of the skin. In addition, access to other treatment options such as pharmaceutical treatments and operational activities limits the market growth. Research on the use of the neurostimulators in disease management, for example, obsessive-compulsive disorders, interstitial cystitis, and asthma is instead ongoing and is expected to create profitable opportunities in future years to increase the market for neurostimulation devices.
Sacral nerve stimulators, that are used to treat chronic diseases like urinary incontinence and fecal incontinence, are predicted to be the highest CAGR. Increasing awareness of these devices is projected to be the main driver for this segment. However, the risks associated with such devices being implanted, such as mechanical failures and post-surgery pains and infections, may somewhat hinder the growth of the segment.
In the last two decades, the technological advancements in the technology have been impressive, yet the progress made in cardiovascular electrical therapy is not as significant because of the lack of funding and collaboration. Currently, neuromodulation technology is still considered to be in its infancy, but the last few years have seen some significant improvements in hardware, software, and conceptual advances to the core of the field. The long-term future will depend on innovation, investment, stabilization, and oversight by government agencies and high-level evidence.
The growth of the market for neurostimulation devices is driven by factors such as increasing the prevalence of lifestyle diseases like depression and chronic pain and increasing numbers of neurological disorders and investment in R&D. In addition, increasing demand for a minimally invasive procedure, adoption of advanced technological products, and the rise in the elderly population also stimulate market growth since they are more sensitive to neurological conditions such as Epilepsy, Parkinson’s disease, Alzheimer’s and chronic pain.
Based on Devices, the market is segmented into Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators and Other Devices. Based on Applications, the market is segmented into Pain Management, Hearing Loss, Urinary Incontinence, Parkinson’s Disease, Epilepsy and Other Applications. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Boston Scientific Corporation, Nevro Corporation, Medtronic PLC, NeuroSigma, Inc., Integer Holdings Corporation, LivaNova PLC, NeuroPace, Inc., Neuronetics, Inc., and Synapse BioMedical, Inc.
Scope of the Study
• Spinal Cord Stimulators
• Deep Brain Stimulators
• Sacral Nerve Stimulators
• Vagus Nerve Stimulators and
• Other Devices
• Pain Management
• Hearing Loss
• Urinary Incontinence
• Parkinson’s Disease
• Epilepsy and
• Other Applications
• Rest of Europe
• Abbott Laboratories
• Boston Scientific Corporation
• Nevro Corporation
• Medtronic PLC
• NeuroSigma, Inc.
• Integer Holdings Corporation
• LivaNova PLC
• NeuroPace, Inc.
• Neuronetics, Inc.
• Synapse BioMedical, Inc.
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