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Implantable neurostimulation devices are used to modulate the nervous system in order to improve biological functions. The activity involves the modulation of electrical signals transferred from the brain to various organs and vice versa. The devices either function by stimulating the nerve impulse or inhibit the pain signals at the target site. This technology improves the life of patients who are suffering from the profound loss of their sense organs or severely paralyzed. The small neurostimulation device is surgically implanted under the skin, which sends mild electrical signal to the spine, causing different sensation to the area of chronic pain. It modifies the pain signals before they reach from the affected site to the brain.

The rising adoption of neurostimulation devices by physicians and the increasing prevalence of chronic neuro-muscular disorders are major factors predicted to drive the market for implantable neurostimulators during the forecast period. However, the discomfort caused by the invasive surgical procedure for implanting the device which is also expensive is a major restraint for the market. The trend of outsourcing medical devices is being adopted by manufacturers, propelling the market globally.

The global implantable neurostimulation devices market has been segmented based on technology into the following categories: spinal cord stimulation (SCS), deep brain stimulation (DBS), sacral nerve stimulation (SNS), gastric electric stimulation (GES), vagus nerve stimulation (VNS), and others. Spinal cord stimulation (SCS) held a major market share in 2016 owing to the rising prevalence of Parkinson’s disease and epilepsy. However, sacral nerve stimulations (SNS) is expected to witness a high CAGR over the forecast period owing to the increasing number of patients with urinary incontinence and the rising awareness among the population about nervous system disorders. Spinal cord stimulation (SCS) is estimated to remain dominant during the forecast period due to technological advancements and the growing mindfulness about pain management in developing economies.

In terms of application, the global implantable neurostimulation devices market is divided into the following segments: pain management, epilepsy, Parkinson’s, urinary & fecal incontinence, and others. Parkinson’s generated extensive revenue in 2016 which is attributed to its rising prevalence and increasing adoption of technologically advanced pain management therapies. The pain management segment is projected to remain dominant during the forecast period owing to the positive reimbursement policies and rising unmet needs for the treatment of neuromuscular disorders in rural areas.

On the basis of end-user, the global implantable neurostimulation devices market is split into the following groups: hospitals, clinics, ambulatory surgical centers, and others. Hospitals dominated the market in 2016 due to the availability of trained and well-qualified personnel in them and positive reimbursement policies. The rising prevalence of Parkinson’s & epilepsy and the increasing disposable incomes are major factors projected to propel this segment during the forecast period.

Geographically, the global implantable neurostimulation devices market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major market share in 2016 which is attributed to the rising adoption of technologically advanced pain management therapies and the post-surgical success of neuromodulation. However, Asia Pacific is anticipated to display a high CAGR during the forecast period on account of extensive government funding to improve the health care infrastructure in the developing economies of Asia Pacific and the rising awareness in the population about implantable neurostimulation procedures. The high per capita expenditure of the population on health care and recent FDA approvals for the newly developed implantable neurostimulation devices are estimated to propel the market in North America during the forecast period.

Key players in the global implantable neurostimulation devices market include St. Jude Medical, Medtronic Inc., Boston Scientific Corporation, BioControl Medical, Synapse Biomedical Inc., Nevro Corporation, Spinal Modulation, and Cyberonics, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Implantable Neurostimulation Devices Market

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