Internal Neurostimulation Devices Market Size (2023-2031) Share, Industry Trends, Growth, Challenges, and Forecast: Growth Plus Reports

Newark, New Castle, USA, May 22, 2023 (GLOBE NEWSWIRE) — Growth Plus Reports estimated the size of the global market for internal neurostimulation devices in 2022 to be worth US$ 4.85 million, and it is expected that it will increase at a revenue CAGR of 9.45% to reach US$ 10.94 million by 2031.

The global market for internal neurostimulation devices was analyzed and is expected to rise with a significant revenue share during the forecast period. Modern medical devices known as internal neurostimulation devices, neuro implants, or neuromodulation devices are inserted inside the human body and provide electrical or magnetic stimulation to specific nervous system regions.

Key Takeaways: 

• The rising prevalence of neurological patients is driving the market revenue share.
• Rapid technological advancements in big data in healthcare are driving the market demand.
• The latest product launch by the top market player is expected to increase market revenue growth rapidly.

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                             Internal Neurostimulation Devices Market Scope

Recent Development in the Global Internal Neurostimulation Devices Market: 

• In January 2021, Spinal cord stimulator (SCS) units from the WaveWriter AlphaTM family were introduced by Boston Scientific. The WaveWriter AlphaTM portfolio is made to offer patients with chronic pain individualized treatment alternatives. Various SCS systems with advanced programming abilities and improved connectivity features are included in the portfolio.

Competitive Landscape

A list of prominent players operating in the global market for internal neurostimulation devices includes: 

• Medtronic, plc

• LivaNova PLC

• NEVRO CORP.

• Boston Scientific Corporation 

• Integer Holdings Corporation

Market Drivers and Restraints: 

The global internal neurostimulation devices market revenue is driven by the prevalence of neurological disorders and the development of new and advanced neurostimulation technologies. Furthermore, neurostimulation therapy is becoming more widely accepted as an effective and safe option for the treatment of patients with neurological conditions, which is likely to contribute potential growth to the global market revenue.

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Market Segmentation: 

Segmentation By Product 

Based on products, the spinal cord stimulators segment dominates the global internal neurostimulation devices market with a significant revenue share. This rise in revenue share is attributed to the increased demand for these stimulators in the treatment and reduction of chronic pain. 

Segmentation By End-User

Based on the end-user, the hospital segment accounts for a significant revenue share in the global internal neurostimulation devices market, attributed to the high number of patients visiting hospitals because of the availability of advanced medical facilities and skilled healthcare professionals.

Regional Growth Dynamics

Based on the region, North America, with a significant revenue share, dominates the global market, owing to rising healthcare costs, advantageous payment rules in the area, rising knowledge of the advantages of early diagnosis and treatment, and rising prevalence of neurological illnesses. 

Report Coverage 

Growth Plus Reports studied the global market for internal neurostimulation devices in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.

Table of Content

1. INTRODUCTION
   1. Market Ecosystem
   2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
   3. Currency Used in the Report
2. RESEARCH METHODOLOGY 
   1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources
   4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions
3. PREMIUM INSIGHTS
   1. Current Market Trends (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2022) 
   3. Regulatory Landscape
4. MARKET DYNAMICS
   1. Drivers
   2. Restraints/Challenges
   3. Opportunities
5. GLOBAL INTERNAL NEUROSTIMULATION DEVICES MARKET- ANALYSIS & FORECAST, BY PRODUCT
   1. Vagus Nerve Stimulator
   2. Gastric Electric Stimulator
   3. Spinal Cord Stimulator
   4. Deep Brain Stimulator
   5. Sacral Nerve Stimulator
6. GLOBAL INTERNAL NEUROSTIMULATION DEVICES MARKET- ANALYSIS & FORECAST, BY END USER
   1. Hospitals
   2. Ambulatory Surgical Centers 
   3. Others 

INTERNAL NEUROSTIMULATION DEVICES MARKET TOC

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VALUE PROPOSITIONS RELATED TO THE REPORT:

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• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market.

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• Distributor Landscape Assessment
• Pricing Intelligence
• Customer Base Assessment
• Investment & Initiatives Analysis
• ‘Business Profile’ of Key Players

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