Visongain forecasts that ‘Global Neuromodulation Devices Market Set To Grow To $8.08n By 2023’
31 July 2018
Visiongain’ has launched a new pharma report Global Neuromodulation Devices Report 2018-2028: Deep Brain Stimulation (DBS), Spinal Cord Stimulation (SCS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation (SNS), Gastric Electrical Stimulation (GES), Other Applications
Neuromodulation is one of the fastest growing sectors in the medical devices market for the potential it has as being a relatively non-invasive and cost-effective way of treating debilitating illnesses. This potential remains, yet, unexploited. Growing research into new forms of neuromodulation and the ways it can be applied to different illnesses will drive this market. This is because the techniques not only treat the symptoms of illnesses such as chronic pain, but also provides an effective alternative to drug-based medication that might cause severe side-effects or lead to drug dependence.
The lead analyst of the report commented “The growth in the neuromodulation devices market is mainly driven by ageing population and the increasing prevalence of age-related conditions and chronic diseases. Continuous research and development will lead to more applications with an increasing trend for more-personalised healthcare.
Treatment options will become more tailored to meeting the needs of individual patients, leading to the development of better diagnostic techniques. As the markets in developed countries mature, emerging markets will continue to drive the growth of the industry, as a result of increased healthcare spending.”
Leading companies featured in the report include Medtronic, Boston Scientific, St Jude Medical (Abbott), Cyberonics (LivaNova), Stryker Corporation, Nevro Corp., SetPoint Medical, Functional Neuromodulation, Neurotherapies Reset, Wringless Implantable Stretchable Electronics (WISE), SceneRay, Mindray
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