Driven by technology advancements, rising consumer awareness, and development of sophisticated implantable neurostimulation devices, world market for neurostimulation is projected to reach $5.2 billion by the year 2012. Conducive demographics like the aging world population offers ample opportunities for growth in the upcoming years. Emergence of new indications for the use of the neurostimulation therapy is expected to result in expanded market opportunities.
San Jose, CA (PRWEB) November 3, 2008 -- The world neurostimulation market stands enthused by the growing base of aging population, and the resultant rise in age-related diseases such as, Parkinson's, and Alzheimer's disease. Widespread prevalence of neurological disorders and conditions, and the associated costs to society in terms of declining productivity, and reduced quality of life, offer a business case for the neurostimulation treatment modality. Demand for a higher quality of life, rising awareness among both physicians and patients, and improved patient outcomes are together, helping drive growth in the market. Influx of new players is giving rise to increased investments and research and developments. This is expected to lead to a spurt in technology innovations, and development of novel, advanced products, such as closed-loop system neurostimulators, which are designed to continuously stimulate the nervous system. As stated by the recent report published by Global Industry Analysts, Inc., the United States ranks as the single largest market for neurostimulation worldwide, more than 75% share estimated in the year 2008. Innovations in the field of brain imaging, interactive computer guidance devices, and single cell microelectrode recordings, are all helping drive the effectiveness, and hence growth of neurostimulation. With public and private health insurance companies mulling reimbursements for neurostimulation procedures and devices, the market stands to gain attractively in the medium to long run.
Guided by strong research and development agendas, growth in US market is projected at a CAGR of about 17% for the period 2007 through 2012. In the world spinal cord stimulators market, strong growth is expected to stem from implantable pulse generator (IPG) segment, which is expected to reach US $2.17 billion by 2012. World market for vagus nerve stimulators is projected to grow at a projected CAGR of 22.17% over the period 2007 to 2012. In the United States, revenues in the deep brain stimulators market are projected to rise by US$607.8 million over the period 2007 to 2012.
Leading global and regional players operating in the industry include Boston Scientific Corp, St. Jude Medical Inc, Cyberonics Inc, Medtronic Inc, Afferent Corp, Cyberkinetics Neurotechnology Systems Inc, Northstar Neuroscience Inc, and Synapse Biomedical Inc, among others.
The report titled "Neurostimulation: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of the market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key product markets. Product markets analyzed in the report include Spinal Cord Stimulators (SCS) (Radio Frequency (RF) System, and Implantable Pulse Generator (IPG)), Deep Brain Stimulators (DBS), Sacral Nerve Stimulators (SNS), Vagus Nerve Stimulators (VNS), and Gastric Electric Stimulators (GES). Latent demand patterns in product markets are quantified across the United States, and Rest of World. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit http://www.strategyr.com/Neurostimulation_Market_Report.asp.
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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