Persistence Market Research is released new forthcoming report on title "Neurostimulation Devices Market - Global Industry Analysis and Forecast to 2020".
New York, NY -- (SBWIRE) -- 11/21/2014 -- Neurology is a study for diseases and disorders involved in nervous systems. It deals with diagnosis and treatment of diseases such as autonomic nerves system (ANS) and peripheral nervous system (PNS). A neurostimulation device is an electronic medical device, which delivers mild electronic signals to the epidural space near spine with the help of one or more thin wires. The electronic signal may cause itching sensation in the treated area. A neurostimulation device includes several components such as neurostimulator, leads, physician programmer and patient’s programmer. Neurostimulator generates electrical pulses to the epidural space near the spine.
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Neurostimulation devices market has emerged as one of the fastest growing segments in the overall medical devices market. This is due to high demand of invasive and non-invasive treatment for nervous system diseases or disorders. Use of neurostimulation devices gives relief from heart failure, headache, epilepsy, chronic pain and incontinence. Increase in the incidence of neurological disorders, increasing population of aged people and increase in government funding towards research of neurological diseases are some of the key drivers for the global neurostimulation devices market. According to a research by Harvard University, in 2012, about 50 million people were suffering from the tinnitus problem in the U.S.. The American Tinnitus Association (ATA), associated with tinnitus related research and development, has funded USD 110 million to support three tinnitus research projects in the year 2014.
Some of the key restrains for neurostimulation devices market are the high cost of devices, programmer or data transmission problems and pain at the stimulator site. In addition, it may take additional surgery to repair and relocate the system parts. Neurostimulation requires surgery for fixation of devices, which increases the risk of infection in the body. After surgery it requires more precautions so that electrical leads do not get misplaced. However, due to high effectiveness involved with the use of neurostimulation devices, government and various private companies are expected to increase their investment towards research and development of innovative and effective products.
North American and European countries dominate the global neurostimulation devices market. Increase in aging population and large number of underserved patients create opportunities for global neurostimulation devices market. Currently, many industry players are manufacturing innovative neurostimulation devices to differentiate their products from the competitor’s products. Some of the major companies operating in the neurostimulation devices market are Medtronic, Inc., Cyberonic, Inc., BioControl Medical Ltd., Endostim, Inc., EntroMedics, Inc., Megastim Company Ltd, NeuroSigma, Inc. and Nervo Corp.
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