Implantable Neurostimulation Devices Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis
MARKET INTRODUCTION
Implantable neurostimulation devices that are used to modulate the nervous system that improves biological functions. The activity includes the modulation of electrical signals that are transferred from the brain to various organs and vice versa. However, the devices either function by stimulating the nerve impulse or inhibit the pain signals at the target site. Whereas, technology improves the lives of patients who are suffering from the profound loss of their sense organs or severely paralyzed. The small neurostimulation device is surgically implanted under the skin, which sends a mild electrical signal to the spine, causing different sensation to the area of chronic pain.
MARKET DYNAMICS
The implantable neurostimulation devices market is boosting due to the rising prevalence and increasing adoption of technologically advanced pain management therapies. However, the discomfort caused by the invasive surgical procedure for implanting the device which is also expensive is a major restraint for the market. Moreover, the rising adoption of neurostimulation devices by physicians and the increasing prevalence of chronic neuro-muscular disorders are major factors predicted to drive the market for implantable neurostimulators during the forecast period.
MARKET SCOPE
The "Implantable Neurostimulation Devices Market Analysis to 2031" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of implantable neurostimulation devices market with detailed market segmentation by technology and application. The implantable neurostimulation devices market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading players in implantable neurostimulation devices market and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The implantable neurostimulation devices market is segmented on the basis of technology and application. Based on technology, the market is segmented as spinal cord stimulation (SCS), deep brain stimulation (DBS), sacral nerve stimulation (SNS), gastric electric stimulation (GES), vagus nerve stimulation (VNS), and others. On the basis of application, the market is categorized as pain management, epilepsy, Parkinson's, urinary & fecal incontinence, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the implantable neurostimulation devices market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The implantable neurostimulation devices market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting implantable neurostimulation devices market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the implantable neurostimulation devices market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the implantable neurostimulation devices market based on various segments. It also provides market size and forecast estimates from year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The implantable neurostimulation devices market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting implantable neurostimulation devices market from both demand and supply side and further evaluates market dynamics affecting the market during forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the implantable neurostimulation devices market in these regions.
MARKET PLAYERS
The report covers key developments in the implantable neurostimulation devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from implantable neurostimulation devices market are anticipated to have lucrative growth opportunities in the future with the rising demand for implantable neurostimulation devices in the global market. Below mentioned is the list of few companies engaged in the implantable neurostimulation devices market.
The report also includes the profiles of key players in implantable neurostimulation devices market along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- BioControl Medical
- Boston Scientific Corporation
- Cyberonics, Inc.
- Medtronic Inc.
- Nevro Corporation
- Spinal Modulation
- St. Jude Medical,
- Synapse Biomedical Inc.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Implantable Neurostimulation Devices Market - By Technology
1.3.2 Implantable Neurostimulation Devices Market - By Application
1.3.3 Implantable Neurostimulation Devices Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. IMPLANTABLE NEUROSTIMULATION DEVICES - GLOBAL MARKET OVERVIEW
6.2. IMPLANTABLE NEUROSTIMULATION DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - TECHNOLOGY
7.1. OVERVIEW
7.2. TECHNOLOGY MARKET FORECASTS AND ANALYSIS
7.3. SPINAL CORD STIMULATION (SCS)
7.3.1. Overview
7.3.2. spinal cord stimulation (SCS) Market Forecast and Analysis
7.4. DEEP BRAIN STIMULATION (DBS)
7.4.1. Overview
7.4.2. deep brain stimulation (DBS) Market Forecast and Analysis
7.5. SACRAL NERVE STIMULATION (SNS)
7.5.1. Overview
7.5.2. sacral nerve stimulation (SNS) Market Forecast and Analysis
7.6. GASTRIC ELECTRIC STIMULATION (GES)
7.6.1. Overview
7.6.2. gastric electric stimulation (GES) Market Forecast and Analysis
7.7. VAGUS NERVE STIMULATION (VNS)
7.7.1. Overview
7.7.2. vagus nerve stimulation (VNS) Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. others Market Forecast and Analysis
8. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PAIN MANAGEMENT
8.3.1. Overview
8.3.2. pain management Market Forecast and Analysis
8.4. EPILEPSY
8.4.1. Overview
8.4.2. epilepsy Market Forecast and Analysis
8.5. PARKINSON'S
8.5.1. Overview
8.5.2. Parkinson's Market Forecast and Analysis
8.6. URINARY AND FECAL INCONTINENCE
8.6.1. Overview
8.6.2. urinary and fecal incontinence Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. others Market Forecast and Analysis
9. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Implantable Neurostimulation Devices Market Overview
9.1.2 North America Implantable Neurostimulation Devices Market Forecasts and Analysis
9.1.3 North America Implantable Neurostimulation Devices Market Forecasts and Analysis - By Technology
9.1.4 North America Implantable Neurostimulation Devices Market Forecasts and Analysis - By Application
9.1.5 North America Implantable Neurostimulation Devices Market Forecasts and Analysis - By Countries
9.1.5.1 United States Implantable Neurostimulation Devices Market
9.1.5.1.1 United States Implantable Neurostimulation Devices Market by Technology
9.1.5.1.2 United States Implantable Neurostimulation Devices Market by Application
9.1.5.2 Canada Implantable Neurostimulation Devices Market
9.1.5.2.1 Canada Implantable Neurostimulation Devices Market by Technology
9.1.5.2.2 Canada Implantable Neurostimulation Devices Market by Application
9.1.5.3 Mexico Implantable Neurostimulation Devices Market
9.1.5.3.1 Mexico Implantable Neurostimulation Devices Market by Technology
9.1.5.3.2 Mexico Implantable Neurostimulation Devices Market by Application
9.2. EUROPE
9.2.1 Europe Implantable Neurostimulation Devices Market Overview
9.2.2 Europe Implantable Neurostimulation Devices Market Forecasts and Analysis
9.2.3 Europe Implantable Neurostimulation Devices Market Forecasts and Analysis - By Technology
9.2.4 Europe Implantable Neurostimulation Devices Market Forecasts and Analysis - By Application
9.2.5 Europe Implantable Neurostimulation Devices Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Implantable Neurostimulation Devices Market
9.2.5.1.1 Germany Implantable Neurostimulation Devices Market by Technology
9.2.5.1.2 Germany Implantable Neurostimulation Devices Market by Application
9.2.5.2 France Implantable Neurostimulation Devices Market
9.2.5.2.1 France Implantable Neurostimulation Devices Market by Technology
9.2.5.2.2 France Implantable Neurostimulation Devices Market by Application
9.2.5.3 Italy Implantable Neurostimulation Devices Market
9.2.5.3.1 Italy Implantable Neurostimulation Devices Market by Technology
9.2.5.3.2 Italy Implantable Neurostimulation Devices Market by Application
9.2.5.4 Spain Implantable Neurostimulation Devices Market
9.2.5.4.1 Spain Implantable Neurostimulation Devices Market by Technology
9.2.5.4.2 Spain Implantable Neurostimulation Devices Market by Application
9.2.5.5 United Kingdom Implantable Neurostimulation Devices Market
9.2.5.5.1 United Kingdom Implantable Neurostimulation Devices Market by Technology
9.2.5.5.2 United Kingdom Implantable Neurostimulation Devices Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Implantable Neurostimulation Devices Market Overview
9.3.2 Asia-Pacific Implantable Neurostimulation Devices Market Forecasts and Analysis
9.3.3 Asia-Pacific Implantable Neurostimulation Devices Market Forecasts and Analysis - By Technology
9.3.4 Asia-Pacific Implantable Neurostimulation Devices Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Implantable Neurostimulation Devices Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Implantable Neurostimulation Devices Market
9.3.5.1.1 Australia Implantable Neurostimulation Devices Market by Technology
9.3.5.1.2 Australia Implantable Neurostimulation Devices Market by Application
9.3.5.2 China Implantable Neurostimulation Devices Market
9.3.5.2.1 China Implantable Neurostimulation Devices Market by Technology
9.3.5.2.2 China Implantable Neurostimulation Devices Market by Application
9.3.5.3 India Implantable Neurostimulation Devices Market
9.3.5.3.1 India Implantable Neurostimulation Devices Market by Technology
9.3.5.3.2 India Implantable Neurostimulation Devices Market by Application
9.3.5.4 Japan Implantable Neurostimulation Devices Market
9.3.5.4.1 Japan Implantable Neurostimulation Devices Market by Technology
9.3.5.4.2 Japan Implantable Neurostimulation Devices Market by Application
9.3.5.5 South Korea Implantable Neurostimulation Devices Market
9.3.5.5.1 South Korea Implantable Neurostimulation Devices Market by Technology
9.3.5.5.2 South Korea Implantable Neurostimulation Devices Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Implantable Neurostimulation Devices Market Overview
9.4.2 Middle East and Africa Implantable Neurostimulation Devices Market Forecasts and Analysis
9.4.3 Middle East and Africa Implantable Neurostimulation Devices Market Forecasts and Analysis - By Technology
9.4.4 Middle East and Africa Implantable Neurostimulation Devices Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Implantable Neurostimulation Devices Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Implantable Neurostimulation Devices Market
9.4.5.1.1 South Africa Implantable Neurostimulation Devices Market by Technology
9.4.5.1.2 South Africa Implantable Neurostimulation Devices Market by Application
9.4.5.2 Saudi Arabia Implantable Neurostimulation Devices Market
9.4.5.2.1 Saudi Arabia Implantable Neurostimulation Devices Market by Technology
9.4.5.2.2 Saudi Arabia Implantable Neurostimulation Devices Market by Application
9.4.5.3 U.A.E Implantable Neurostimulation Devices Market
9.4.5.3.1 U.A.E Implantable Neurostimulation Devices Market by Technology
9.4.5.3.2 U.A.E Implantable Neurostimulation Devices Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Implantable Neurostimulation Devices Market Overview
9.5.2 South and Central America Implantable Neurostimulation Devices Market Forecasts and Analysis
9.5.3 South and Central America Implantable Neurostimulation Devices Market Forecasts and Analysis - By Technology
9.5.4 South and Central America Implantable Neurostimulation Devices Market Forecasts and Analysis - By Application
9.5.5 South and Central America Implantable Neurostimulation Devices Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Implantable Neurostimulation Devices Market
9.5.5.1.1 Brazil Implantable Neurostimulation Devices Market by Technology
9.5.5.1.2 Brazil Implantable Neurostimulation Devices Market by Application
9.5.5.2 Argentina Implantable Neurostimulation Devices Market
9.5.5.2.1 Argentina Implantable Neurostimulation Devices Market by Technology
9.5.5.2.2 Argentina Implantable Neurostimulation Devices Market by Application
10. IMPACT OF COVID-19 PANDEMIC ON GLOBAL IMPLANTABLE NEUROSTIMULATION DEVICES MARKET
10.1 North America
10.2 Europe
10.3 Asia-Pacific
10.4 Rest of the World
11. INDUSTRY LANDSCAPE
11.1. MERGERS AND ACQUISITIONS
11.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3. NEW PRODUCT LAUNCHES
11.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12. IMPLANTABLE NEUROSTIMULATION DEVICES MARKET, KEY COMPANY PROFILES
12.1. BIOCONTROL MEDICAL
12.1.1. Key Facts
12.1.2. Business Description
12.1.3. Products and Services
12.1.4. Financial Overview
12.1.5. SWOT Analysis
12.1.6. Key Developments
12.2. BOSTON SCIENTIFIC CORPORATION
12.2.1. Key Facts
12.2.2. Business Description
12.2.3. Products and Services
12.2.4. Financial Overview
12.2.5. SWOT Analysis
12.2.6. Key Developments
12.3. CYBERONICS, INC.
12.3.1. Key Facts
12.3.2. Business Description
12.3.3. Products and Services
12.3.4. Financial Overview
12.3.5. SWOT Analysis
12.3.6. Key Developments
12.4. MEDTRONIC INC.
12.4.1. Key Facts
12.4.2. Business Description
12.4.3. Products and Services
12.4.4. Financial Overview
12.4.5. SWOT Analysis
12.4.6. Key Developments
12.5. NEVRO CORPORATION
12.5.1. Key Facts
12.5.2. Business Description
12.5.3. Products and Services
12.5.4. Financial Overview
12.5.5. SWOT Analysis
12.5.6. Key Developments
12.6. SPINAL MODULATION
12.6.1. Key Facts
12.6.2. Business Description
12.6.3. Products and Services
12.6.4. Financial Overview
12.6.5. SWOT Analysis
12.6.6. Key Developments
12.7. ST. JUDE MEDICAL,
12.7.1. Key Facts
12.7.2. Business Description
12.7.3. Products and Services
12.7.4. Financial Overview
12.7.5. SWOT Analysis
12.7.6. Key Developments
12.8. SYNAPSE BIOMEDICAL INC.
12.8.1. Key Facts
12.8.2. Business Description
12.8.3. Products and Services
12.8.4. Financial Overview
12.8.5. SWOT Analysis
12.8.6. Key Developments
13. APPENDIX
13.1. ABOUT THE INSIGHT PARTNERS
13.2. GLOSSARY OF TERMS
The List of Companies
1. BioControl Medical
2. Boston Scientific Corporation
3. Cyberonics, Inc.
4. Medtronic Inc.
5. Nevro Corporation
6. Spinal Modulation
7. St. Jude Medical,
8. Synapse Biomedical Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
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- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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