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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