Rising elderly
populace - a high risk demographic for Parkinson’s and Alzheimer’s, is also
driving market growth. Accelerated demand for neurostimulation devices in the
future years is expected to result from untapped market opportunities in
emerging economies of Asia as well as Latin America and the growing number of
externally funded clinical programs for development of new products.
Browse Details of Report @ https://www.hexaresearch.com/research-report/neurostimulation-devices-industry/
Hexa Research
identifies spinal cord stimulation devices, vagus nerve stimulation devices,
gastric electric stimulation devices, deep brain stimulation devices, and
sacral nerve stimulation devices to be the key product segments in the
neurostimulation devices market. Spinal cord stimulation devices, with a
contribution of more than half to the total revenues, were the dominant product
segment in 2012.
Pain management proved
to be the largest application of neurostimulation devices in 2012 and
contributed more than 65% to the total demand that year. This was chiefly due
to high incidence of conditions characterized by chronic pain and notable
therapeutic effects offered by neurostimulation devices.
While North America
contributed around 64% to the total revenues in 2012, Asia Pacific is likely to
grow the fastest in future. Fast-developing economies like India and China will
result in the Asia Pacific neurostimulation devices market growing at CAGR
higher than 16% from 2013 to 2020.
Hexa Research observes
that the neurostimulation devices industry exhibits outsourcing of expensive
manufacturing activities. This enables industry participants to achieve cost
efficiency and better profitability. Key industry players include Boston
Scientific Corporation, Cyberonics, Medtronic Inc., and St. Jude Medical.
Browse
Related Category Market Reports @ https://www.hexaresearch.com/research-category/healthcare-industry
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