Neurostimulation Devices Market to Expand with Growing Patient Pool

The neurostimulation devices market can expect impressive gains over the next few years, as the global number of individuals with neurological conditions continues to rise. These are the latest findings of GBI Research (London, United Kingdom), a market-leading provider of business intelligence reports.

The growing number of people around the world with disorders that include depression, chronic pain, dystonia, and Parkinson’s disorder is on the increase, and as a result, the popularity of neurostimulation treatment is expected to rise. Expanding research activities and exploration into new applications in this field will drive on technological innovations in the industry, as well as leading to more efficient, more cost-effective, and less invasive therapies.

The demand for innovative and user-friendly neurostimulation devices has created a robust pipeline consisting of 144 products, of which the deep brain stimulators portion is the largest, with almost 17% of the total amount. The second largest segment are the vagus nerve stimulators, with 21 pipeline products, while the currently dominant spinal cord stimulators segment maintains a modest share of 4.9% of the product pipeline, with just seven products expected on the horizon.

The report analysis shows that Medtronic (Fridley, MN, USA) was the biggest global player in this industry, with a market share of 61% in 2010. St. Jude Medical (St. Paul, MN, USA) and Boston Scientific Corporation (Natick, MA, USA) followed with 15.1% and 12.8% respectively; these three major manufacturers thus control 89% of the overall market, by consistently launching advanced technological products and overshadowing the competition.

GBI Research predicts that the neurostimulation devices market will reach USD 5,300 million by 2018, following a Compound Annual Growth Rate (CAGR) of 14% from 2011. The bulk of the market will be taken by the spinal cord stimulation devices sector, which is expected to be worth around USD 3,200 million by 2018.

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GBI Research
Medtronic
Boston Scientific Corporation