- The key vendors in the global neurostimulation devices market 2015-2019 are Boston Scientific Corp., Cyberonics Inc., Medtronic plc, and St. Jude Medical Inc.
London, 11 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global neurostimulation devices market 2015-2019. A key driver in the global neurostimulation devices market is the increasing usage of non-invasive neurostimulation devices. These devices reduce complications associated with implanted systems, for example, device malfunction, and acquiring infections during surgery. This need for a less-invasive device is driving the necessity for developing non-invasive external and portable neurostimulator devices. The global neurostimulation devices market is expected to grow at a CAGR of 5.37% for the forecast period of 2014-2019.
Clinical evidence of the efficiency of neurostimulation devices compared to standard procedures propels growth in the global neurostimulation devices market. Additionally, usage of neurostimulation devices as a second-line treatment for pain, depression, and other neurological diseases enhances market growth. Growth of this market can also be attributed to the rising geriatric population and advances in the field of technology.
“Most of the non-invasive devices such as portable neurostimulation devices are under development in the relatively new field of neuromodulation. The need for less-invasive devices is driving the requirement for non-invasive external and portable neurostimulator devices,” says Faisal Ghaus, Vice President of Technavio Research.
“These portable devices reduce the complications associated with implanted neurostimulation systems such as device malfunction and acquiring an infection during surgery.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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