Global Nerve Stimulator Market Research Report: By Type (Deep Brain Stimulator (DBS), Vagus Nerve Stimulator (VNS), Spinal Cord Stimulator (SCS)), Application (Chronic Pain, Depression, Epilepsy, And Parkinson's Disease), End Users -Forecast till 2023
Market Analysis
Nerve stimulation is a treatment that utilizes low-voltage electric momentum to treat different ailments. The stimulator utilized in the nerve stimulation therapy is somewhat similar to a heart pacemaker. Nerve stimulation therapy has likewise demonstrated as a proficient way to deal with neurological disarranges. Among neurological disorders, nerve stimulation therapy is one of the most common treatments for depression and epilepsy. Some of the most commonly utilized nerve stimulators are vagus nerve stimulator (VNS), spinal cord stimulator (SCS), deep brain stimulator (DBS), and others. The global nerve stimulators market is expected to reach USD 10,978.5 million by the year 2023 by approaching at a CAGR of 9.7% during the forecast period (2017-2023).
The nerve stimulation therapy is one of the best approaches from treating different health problems such as bone or joint problems which happens in case of fibromyalgia or osteoarthritis, neck pain, or low back pain, overactive bladder, neurological disorders, and others. Strikingly, the rising rate of unending medical issues, innovative upgrades, expanding geriatric populace, and enhancement in repayment policies are the key variables driving the global nerve stimulators market. The expanding prevalence of minimally invasive procedures over the globe is additionally filling the market development. However, staggering expense of the treatment and absence of experienced and trained doctors may restrict the development of the market over the estimated period.
Market Segmentation
The global nerve stimulators market is divided on the basis of its type, end-users, application, and regional analysis. Based on its type, the market is classified into vagus nerve stimulator (VNS), spinal cord stimulator (SCS), deep brain stimulator (DBS), and others. Based on its end -users, the market is bifurcated into hospital & clinics, ambulatory surgical centers, and trauma centers. On the basis of its application, the global nerve stimulators market is classified into depression, chronic pain, dystonia, Parkinson's disease, epilepsy, and others.
Regional Analysis
Geographically, the global nerve stimulators market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major Players
Some of the key players in the global nerve stimulators market include names like Boston Scientific Corporation, Medtronic plc, Cochlear Ltd, St Jude Medical, Inc., Aleva Neurotherapeutics SA, Cyberonics, Inc., NeuroPace, Inc, among others.