Electrical Stimulation Devices Market to Surpass US$ 5.96 Billion by 2026 - Coherent Market Insights

Published On : Feb 14, 2019

Global Electrical Stimulation Devices Market, by Device (Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, Vagus Nerve Stimulation Devices, Sacral Nerve Stimulation Devices, Gastric Electric Stimulation Devices, Transcutaneous electrical nerve Stimulation Devices, Neuromuscular Electrical Stimulation Devices, Cranial Electrical Stimulation Device, and Other Electrical Stimulation Devices), by Application (Pain Management, Neurological and Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Incontinence Management, and Others), by End User (Hospitals, Specialty Clinics, Ambulatory Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,956.0 million in 2017, and is projected to exhibit a CAGR of 4.7% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.

Increasing research and development by market players to augment the market growth

Key players in the market are focused on research and development activities in order to develop novel products to address the critical unmet needs of patients. For instance, in April 2018, Medtronic, Plc. received premarket approval from U.S. Food and Drug Administration (FDA) for its Medtronic Deep Brain Stimulation (DBS) System used for treatment of Epilepsy.

Moreover, increase in geriatric population is expected to rise incidences of chronic pain and neurological disorders, which in turn is expected to boost the market growth. According to National Council of Aging (NCOA) factsheet, revised in July 2018, chronic disease is the leading cause of death among U.S. adults, where an older adult is taken to the emergency room every 11 seconds, while death rate due to falls is recorded in every 19th minute.

Browse 26 Market Data Tables and 27 Figures spread through 172 Pages and in-depth TOC on ‘Electric Stimulation Devices Market’- Global Forecast to 2026, by Device (Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, Vagus Nerve Stimulation Devices, Sacral Nerve Stimulation Devices, Gastric Electric Stimulation Devices, Transcutaneous electrical nerve stimulation Devices, Neuromuscular Electrical Stimulation Devices, Cranial Electrical Stimulation Device, and Other Electrical Stimulation Devices), by Application (Pain Management, Neurological and Movement Disorder Management, Musculoskeletal Disorder Management, Metabolism & GIT Management, Incontinence Management, and Others), by End User (Hospitals, Specialty Clinics, Ambulatory Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the electric stimulation devices market, click the link below:

https://www.coherentmarketinsights.com/market-insight/electrical-stimulation-devices-market-2486

Various governments are taking initiatives to control cost and ensure correct usage of medical devices. For instance, in January 2014, Medical Technology Assessment Board (MTAB) under Department of Health Research (DHR) was formed to evaluate existing and new medical technologies in India.

Key Takeaways of the Electrical Stimulation Devices Market:

  • The global electric stimulation devices market is expected to exhibit a CAGR of 4.7% over the forecast period, owing to increasing prevalence of chronic diseases, increase in pain in postoperative and preoperative procedure, and increasing prevalence of spinal injuries. According to the World Health Organization (WHO) factsheet in November 2013, around 250,000 to 500,000 people are diagnosed with spinal cord injury, annually.
  • Among device type, the spinal cord stimulation devices segment held dominant position in the electrical stimulation devices market in 2018, owing to high incidences of spinal injuries associated with accidents and falls.
  • Among application type, pain management segment held dominant position in the electrical stimulation devices market in 2018, as the major function of stimulation devices is to manage pain
  • Among end user type, hospital segment held dominant position in the electrical stimulation devices market in 2018, as majority of the cases of falls, accidents, and injuries are registered at hospitals
  • Key players operating in the global electrical stimulation devices market include Boston Scientific Corporation, BTL Industries, Inc., Cyberonics, Inc., DJO Global, Inc., Medtronic plc., Nevro Corporation., NeuroMetrix, Inc., St. Jude Medical, Inc., Uroplasty, Inc. (Cogentix Medical), and Zynex, Inc.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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