Industry Insights
Growing geriatric population base
and rising incidences of target diseases such as Alzheimer’s and Parkinson’s
are the major drivers for this market. As per an estimate by the Alzheimer
Disease International 36 million people globally had Alzheimer’s or a related
dementia. Limited treatment options for diseases such as migraine and epilepsy
has led to high unmet medical needs of patients in this segment, and thus is a
high impact rendering driver for the neurostimulation devices market. Spurred
use of neuromodulation devices as an add-on therapy, growing demand for
minimally invasive surgery and the technological advancements such as Neurowave
Medical Technologies transdermal neuromodulation technology and MRI safety
enabled neurostimulator by Medtronic, are expected to further augment the
growth of the neurostimulation devices.
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Product Insights
The products analyzed in the neurostimulation
devices market include gastric electric stimulation device, deep brain
stimulation device, vagus nerve stimulation device, spinal cord stimulation
device and sacral nerve stimulation device. Spinal cord stimulation devices
dominated the neurostimulation devices market in 2012 with over 60.0% revenue
share. These devices hold a competitive edge over the other devices as they
were the first to be commercialized, and thus have higher penetration rates.
High prevalence of chronic pain, cost effectiveness in terms of quality
adjusted life years are the major drivers for this segment. Deep brain
stimulation devices held the second largest revenue share; these devices are
currently going through experimental phase as they are based on nascent
technology.
Application Insights
Key applications of neurostimulation devices are
epilepsy, pain management, fecal and urinary incontinence, dystonia,
Parkinson’s disease, gastroparesis, and essential tremor. Pain management,
throughout the forecast period, is the largest application segment of
neurostimulation devices market, owing to the high prevalence of chronic pain
disorders globally. Growing adoption rate of neurostimulation devices in the
field of pain management as a consequence of the high therapeutic value is also
a major driver for this market. The neurostimulation devices for Parkinson’s
disease are expected to grow at a rapid rate over the next six years on account
of low availability of treatment options and growing global geriatric
population base.
Regional Insights
North America dominated
the overall neurostimulation devices market during the forecast period. High
patient awareness levels, high healthcare expenditure, sophisticated healthcare
infrastructure in developed countries such as U.S., led to high growth of this
market. Presences of industry friendly organizations such as American Tinnitus
Association and North American Neuromodulation Society will boost the market
positively. North America was followed by Europe in revenue share in 2012.
Faster and relatively easy device approval process by CE, and the presences of
large geriatric population base and fast economic development in Western and
Eastern European countries, are the major factors contributing towards the
growth of the market. Asia Pacific’s market is expected to grow at the fastest
CAGR over the forecast period owing to presences of unmet medical needs, rising
patient awareness levels and the gradually improving healthcare infrastructure
in China and India.
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Table of
Contents
1.1. Neurostimulation Devices – Industry Summary and Critical Success Factors (CSFs)
Chapter 2. Neurostimulation devices Industry Outlook
2.1. Market Segmentation
2.2. Market Size and Growth Prospects
2.3. Neurostimulation devices Market Dynamics
2.4. Key Opportunities Prioritized
2.5. Industry Analysis - Porter's
2.6. Neurostimulation Devices - Company Market Share Analysis
2.7. Neurostimulation Devices Market PESTEL Analysis, 2012
Chapter 3. Neurostimulation Devices Product Outlook
3.1. Deep Brain Stimulation Device
3.2. Gastric Electric Stimulation Device
3.3. Spinal Cord Stimulation Device
3.4. Sacral Nerve Stimulation Device
3.5. Vagus Nerve Stimulation Device
Chapter 4. Neurostimulation Devices Application Outlook
4.1. Pain Management
4.2. Epilepsy
4.3. Essential Tremor
4.4. Urinary and Fecal Incontinence
4.5. Depression
4.6. Dystonia
4.7. Gastroparesis
4.8. Parkinson's Disease
4.9. Others
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5.1. North America
5.2. Europe
5.3. Asia Pacific
5.4. RoW
Chapter 6. Competitive Landscape
6.1. Revenue Analysis
6.2. Product Benchmarking
6.3. Strategic Development
Chapter 7. Methodology and Scope
7.1. Research Methodology
7.2. Research Scope & Assumption
7.3. List of Data Sources
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