Neurostimulation Device Market Competitors Analysis, Overview, Growing Trends and Business Opportunities by 2027

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Jun 30, 2020 (Market Insight Reports) — Selbyville, Delaware Market Study Report LLC has added a new report on Neurostimulation Device Market Size that provides a comprehensive review of this industry with respect to the driving forces influencing the industry. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Neurostimulation Device Market in tandem with its competitive terrain.

The rapid growth in the geriatric population, growing demand for MRI scans, rising incidence of neuro diseases, and favorable reimbursement policies are driving the neurostimulation device market. However, factors such as high cost of neuromodulation treatment and the presence of alternative treatment options are obstructing the market growth. Moreover, stringent regulatory approvals and side-effects associated with neurostimulation devices are some of the challenges faced by the market. The market can achieve its predicted growth by leveraging key opportunities such as the high market potential for SCS devices in neurostimulation, technological development, and growing incidence of chronic discomfort.

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As per the analysis by Triton Market Research, the global neurostimulation device market is expected to show compelling growth in terms of revenue with a CAGR of 10.23% during the forecasting period 2019-2027.

The global neurostimulation device market report covers the regions of North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa.

The Asia-Pacific is the fastest-growing region in the global neurostimulation device market. The market in this region is primarily fueled by the enhancements in healthcare infrastructure, the high pervasiveness of lifestyle diseases such as atherosclerosis, stroke & heart diseases leading to increased surgeries, and the growing confidence of physicians in the use of neurostimulation devices.

In countries like India and China, there is a huge preference given for traditional treatment methods like yoga, physiotherapy, and ayurvedic means. Along with that, a shortage of skilled professionals, a lack of public awareness about neurostimulation devices, and the high cost of devices are expected to restrain the market growth.

Some outstanding competitors in the neurostimulation device market are Cogentix Medical, Inc., Boston Scientific Corporation, Neuronetics, Inc., DePuy Synthes Companies, Cyberonics, Inc., Nevro Corp., Dr. Langer Medical GmbH, Ectron Limited, St. Jude Medical, Inc. (acquired by Abbott Laboratories), Ekso Bionics Holding Inc., Aleva Neurotherapeutics SA, Medtronic plc, Hocoma AG, Helius Medical Technologies, and The Magstim Company Limited.

St. Jude Medical, Inc. (acquired by Abbott Laboratories) is a global company that manufactures medical devices and develops cost-effective medical technologies. The company mainly deals with health IT management solutions, including heart failure management, electrophysiology, cardiac rhythm management, structural heart, vascular, and neuromodulation. The company has partnered with various healthcare providers to develop leading technologies and products.

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