Neurostimulation Market by Technology, Application, and Biomaterial - Global Industry Analysis and Forecast to 2025

Report Code : HC0644

The human brain is possibly one of the most complex objects in the universe. It constitutes of billions of neurons which are linked in networks which lead to an array of different cognitive functions such as emotion, creativity, intelligence, memory, and consciousness. Over the past few decades, advanced research in neuroscience has equipped us with tools to unravel the biological foundations of such complex mental functions as well as the diseases which affect these functions. Many neurological disorders affect an individual’s mental functioning and result in disabilities. Neurological and psychiatric disorders are a major cause of morbidity. The burden of such disorders in emerging economies remains largely unrecognized. The primary impact of such disorders on the poor include, loss of gainful employment, the requirement of caregiving, cost of medications, and need for other medical services. Epilepsy is one of the common brain disorders characterized by unprovoked seizures. Seizures may occur in association with acute medical and neurological disorders such as sepsis or acute stroke. According to a survey conducted by the Center for Disease Control and Prevention (CDC), in 2013, around 4.3 million adults were diagnosed with epilepsy in the U.S.

Alzheimer's disease is a degenerative, progressive disorder which attacks the brain’s neurons resulting in memory loss, altered language and thinking skills and behavioral changes. Alzheimer's disease is the most common cause of dementia. The neurons that produce the brain chemical - acetylcholine gets disconnected with other neurons and ultimately dies. There is a decline in judgment and language skills when the neural cells die in cerebral cortex.  According to the 2016 report by Alzheimer’s Foundation of America, nearly a half million Americans below 65 years of age suffer from some form of dementia including Alzheimer's disease.  Parkinson’s disease is characterized by resting tremor, postural reflex impairment, and cogwheel rigidity. Parkinson’s disease due to external causes such as carbon monoxide poisoning or manganese poisoning is known as secondary Parkinsonism.  According to the Parkinson’s disease Foundation, nearly 60,000 American citizens are diagnosed with Parkinson’s disease every year excluding the numerous cases that remain undetected. Over 10 million people are living with Parkinson’s disease all over the world.

Deep brain stimulation (DBS) is most commonly used to treat Parkinson’s disease. Due to the ability of DBS in racking short term symptom fluctuations, it offers high value for treatment of Parkinson’s disease. The procedure involves surgical implantation of battery operated device known as neurosimulator. This device delivers electrical stimulations to the targeted area in the brain that control the movement function. This results in blocking of abnormal nerve signals which result in tremor and Parkinson’s disease symptoms.

Some of the major driving factors for the neurostimulation market are increased prevalence of various neurological disorders, increasing geriatric population, and technological advancements in neurostimulation systems. According to the data revealed by CDC, around 750,000 children between the age group 0 to 17 were diagnosed with epilepsy in 2013. Such high prevalence of neurological disorders will largely contribute to the growth of the neurostimulation market.  However, shortage of trained professional and strict regulatory policies can hinder the growth of the neurostimulation market.

Emerging trends such as high frequency spinal cord stimulation to treat intractable leg pain, combined peripheral and spinal stimulation for pain control, and research on effects of simulation on postural instability associated with Parkinson’s disease are assisting development of next generation medical procedures for treating complex neurological diseases. Further, research and development initiatives will lead the way for the growth of the neurostimulation market over the coming years.

The major players competing in the neurostimulation industry emphasize on new product development in order to gain competitive advantage. For instance, in March 2016, Medtronic, Plc. obtained FDA approval for Specify SureScan MRI surgical leads. These leads are used in Medtronic’s implanted neurostimulation systems for chronic pain. Some of the major players operating in the neurostimulation market are, Medtronic, Plc., St. Jude Medical, Inc., Boston Scientific Corporation, Nevro Corporation, Synapse Biomedical, Inc., Neuronetics, Inc., NeuroSigma, Inc., Cyberonics, Inc., and NeuroPace, Inc.

Neurostimulation Market Segmentation:

By Technology:

  • Internal Neurostimulation
    • Sacral Nerve Stimulation
    • Spinal Cord Stimulation
    • Deep Brain Stimulation
    • Vagus Nerve Stimulation
    • Other Neurostimulation Technologies
  • External Neurostimulation
    • Transcranial Magnetic Stimulation
    • Transcutaneous Electrical Nerve Stimulation

By Application:

  • Obsessive-Compulsive Disorder
  • Chronic Pain Management
  • Urinary and Fecal Incontinence
  • Epilepsy
  • Migraine
  • Tremor
  • Parkinson's disease
  • Depression
  • Dystonia
  • Failed back syndrome
  • Gastroparesis
  • Other Applications

By Biomaterial:

  • Ceramic Biomaterials
  • Polymeric Biomaterials
  • Metallic Biomaterials

By Region:

  • North America
  • U.S
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of Asia Pacific
  • Rest of the World
  • Brazil
  • South Africa
  • Saudi Arabia
  • United Arab Emirates
  • Others

Research Methodology

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

Data Mining

Data is extensively collected through various secondary sources such as annual reports, investor presentations, SEC filings, and other corporate publications. We also refer trade magazines, technical journals, paid databases such as Factiva and Bloomberg, industry trade journals, scientific journals, and social media data to understand market dynamics and industry trends. Further, we also conduct primary research to understand market drivers, restraints, opportunities, challenges, and competitive scenario to build our analysis.

Data Collection Matrix

Data Collection Matrix

Supply Side

Demand Side

Primary Data Sources

  • Manufacturers
  • Distributors & Wholesalers
  • GPOs
  • Physicians/Specialist
  • Healthcare Providers
  • Consumers

Secondary Data Sources

  • Annual Reports/SEC Filings/ Investor Presentations/ Press Releases
  • Government/Associations Publications
  • Case Studies
  • Reference Customers

 

Market Modeling and Forecasting

We use epidemiology and capital equipment-based models to forecast market size of different segments at country and regional level.

  • Epidemiology-based Forecasting Model: This method uses epidemiology data gathered through various publications and from physicians to estimate population of patients, flow of treatment of individual disease and therapies. The data collected through this method includes statics on incidence of disease, population suffering from disease, and treatment population. This method is used to understand:
  • Number of patients for particular device or medical procedure and
  • Repeated use of particular device depending on health and condition of patient
  • Capital-based Forecasting Model: This method of forecasting is based on number of replacements, installed-based and new sales of capital equipment used in various healthcare and diagnostic centers. These three parameters are calculated and forecast is developed. Installation base is calculated as average number of units per facility; while sales for particular year is calculated from number of new and replace units. Secondary data is collected through various supply chain intermediaries and opinion leaders to arrive at installation and sales rate. These techniques help our analysts in validating market and developed market estimates and forecast.

We do forecast on basis of several parameters such as market drivers, market opportunities, industry trends government regulations, raw materials supply and trade dynamics to ensure relevance of forecast with market scenario. With increasing need to granulized information, we used bottom-up methodology for forecasting where we evaluate each regional segment differently and combined all forecast to develop final market forecast.

Data Validation

We believe primary research is a very important tool in analyzing and forecasting different markets. In order to make sure accuracy of our findings, our team conducts primary interviews at every stage of research to gain deep insights into current business environment and future trends and key developments in market. This includes use of various methods such as telephonic interviews, focus groups, face to face interviews and questionnaires to validate our research from all aspects. We validate our data through primary research from key industry leaders such as CEO, product managers, marketing managers, suppliers, distributors, and consumers are frequently interviewed. These interviews provide valuable insights which help us to have better market understanding besides validating our estimates and forecast.

Data Triangulation

Industry Analysis

Qualitative Data

Quantitative Data (2017-2025)

  • Market Dynamics (Drivers, Restraints, and Challenges)
  • Industry Trend Analysis
  • Market Opportunities
  • Government Policies and Regulations, Patent Analysis, and Reimbursement Policies
  • Porter’s Five Forces and PESTLE Analysis
  • Key Developments and Competitive Landscape
  • Market Assessment and Forecast
  • Market Assessment and Forecast, By Product
  • Market Assessment and Forecast, By Technology
  • Market Assessment and Forecast, By Application
  • Market Assessment and Forecast, By End User
  • Market Assessment and Forecast, By Region/Country

Licesnces Type

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