Asia Pacific Neurostimulation Devices Market to Register High Growth During Forecast Period
Rising prevalence of chronic
diseases is expected to drive the growth of Asia Pacific neurostimulation
devices market
According
to TechSci Research report, “Asia
Pacific Neurostimulation Devices Market By Device Type (Spinal Cord
Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve
Stimulators, and Others), By Application (Pain Management, Hearing Loss,
Urinary Incontinence, Parkinson's Disease, Epilepsy, and Others), By Country,
Competition, Forecast & Opportunities, 2025”, Asia
Pacific neurostimulation devices market is expected to witness high growth during
the forecast period. Increase in incidences and rise in prevalence of
neurological disorders in the region is
one of the major factors accounting for the growth of Asia
Pacific neurostimulation devices market. Moreover, high investment for
neurological R&D is expected to bode well for the growth of Asia Pacific
neurostimulation devices market through the forecast period. In addition to
this, rise in demand for minimal invasive surgery is further projected to positively
influence the growth of Asia Pacific neurostimulation devices market in the
years to come. Also, surge in aging population in the region, is making headway
for the growth of Asia Pacific neurostimulation devices market over the coming
years. However, there are some factors that might act as major impediments to
the growth of Asia Pacific neurostimulation devices market through 2025 including
side effects such as allergic reaction and tingling or prickling of the skin
due to implantation of neurostimulation device into the body and increase in
cost of devices.
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Asia
Pacific neurostimulation devices market can be segmented based on device
type, application, company, and region. In terms of device type, the
market can be categorized into spinal cord stimulators, deep brain stimulators,
sacral nerve stimulators, vagus nerve stimulators, and others. The spinal cord
stimulators segment is expected to dominate the neurostimulation devices market
during the next five years, which is attributable to usage of DBS in various
diseases such as Parkinson's disease, obsessive-compulsive disorders,
idiopathic dystonia, & essential tremor. Considering the application, the
market is fragmented into pain management, hearing loss, urinary incontinence,
parkinson's disease, epilepsy, and others. The pain management segment dominated
the Asia Pacific neurostimulation devices market until 2019 and is further
anticipated to maintain its dominance during the forecast period as well. This high growth can be attributed to high
prevalence of chronic pain disorders. Additionally, increase in usage of
neurostimulation devices for treating chronic and acute pain is also expected
to contribute to the segmental growth in the next five years.
Abbott Laboratories, Aleva
neurotherapeutics SA, Boston scientific corporation, ElectroCore Inc., EndoStim
Inc., Medtronic plc, Nevro Corporation, Neuronetics Inc, NeuroSigma, Inc., Synapse
Biomedical Inc, are among others are the leading players operating in Asia
Pacific neurostimulation devices market. The players are adopting several
growth strategies to enhance the market scenario of neurostimulation devices. Other
competitive strategies include new technological developments; mergers &
acquisitions; agreements, partnerships, and collaborations; and expansions to
diverse their product portfolio in order to strengthen their market position.
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“Asia Pacific neurostimulation devices market is forecast to register
high growth during the next five years on account of rising number of
healthcare reforms. Along with this, high growth in healthcare expenditures predominantly
in the emerging markets such as India and China to overcome the unmet medical
needs of the population, is expected to positively influence the market growth
in the upcoming years. Furthermore, improving healthcare infrastructure is
further anticipated to boost the market growth for neurostimulation devices in
the region over the coming years.”, said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Asia Pacific Neurostimulation Devices Market By Device
Type (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve
Stimulators, Vagus Nerve Stimulators, and Others), By Application (Pain
Management, Hearing Loss, Urinary Incontinence, Parkinson's Disease, Epilepsy,
and Others), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Asia
Pacific neurostimulation devices market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in Asia Pacific neurostimulation devices market.
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