According to a new report Global Neurostimulation Devices Market, published by KBV research, The Global Neurostimulation Devices Market size is expected to reach $10.5 billion by 2026, rising at a market growth of 12.5% CAGR during the forecast period.
The spinal cord stimulators sub-segment has witnessed an exponential growth rate due to the increased adoption of spinal cord stimulators to treat neuropathic pain and spinal injuries. Additionally, the rise in minimally invasive procedures and the increase in spending on health care further drive market growth for spinal cord stimulators around the globe. The Deep Brain Stimulators market is expected to witness a CAGR of 12.2% during (2020 - 2026).
Owing to the growing usage of neurostimulation devices for treating chronic and severe pain, the pain management segment is the highest contributor to the demand for neurostimulation devices. The segment of hearing loss is expected to grow at a significant growth, due to increased incidences of hearing loss across the globe. The Hearing Loss market is experiencing a CAGR of 11.9% during (2020 - 2026). Additionally, The Urinary Incontinence market would witness highest CAGR of 13.1% during (2020 - 2026).
In the regional market, North America accounted for a major share. Significant market trends in North America include the development of innovative neurostimulators, approvals by health authorities for novel neurostimulator techniques, and mergers & acquisitions to acquire new technologies & products. The Asia-Pacific region provides the players in the neurostimulator market with lucrative opportunities. The Europe market would exhibit a CAGR of 12.1% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/neurostimulation-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Abbott Laboratories, Boston Scientific Corporation, Nevro Corporation, Medtronic PLC, NeuroSigma, Inc., Integer Holdings Corporation, LivaNova PLC, NeuroPace, Inc., Neuronetics, Inc., and Synapse BioMedical, Inc.
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