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- Growing acceptance of neurostimulation technologies for managing chronic neuropathic pain to generate vast lucrative opportunities, underpinned by prevalence of chronic pain
- Cutting-edge electrical stimulation devices to open up new revenue streams; Asia Pacific to contribute sizable share to global neurostimulation devices market, owing to presence of incredible untapped avenues
ALBANY, N.Y. , June 10, 2022 /PRNewswire/ -- The global market study on neurostimulation devices observed that prevalence of neurological disorders has spurred advancements in neurostimulation technologies. Many companies in neurostimulation devices market are increasingly leaning on new technologies in spinal cord stimulators to capture substantial profits during the forecast period. The global market is projected to advance at a CAGR of 10.8% during the forecast period of 2022–2031, thus surpassing valuation of US$ 22 Bn by 2031.
Clinical utility of neurostimulation devices is growing in the treatment of disorders of autonomic nervous system (ANS), central nervous system (CNS), and peripheral nervous system (PNS). The effectiveness of the technology in the management of epilepsy has broadened neurostimulation devices market outlook. Furthermore, ongoing trends of the neurostimulation devices market underscore a vast untapped revenue potential in meeting the needs of patients with Parkinson's disease.
The neurostimulation devices market revenue analysis has found that the prevalence of chronic pain due to arthritis and osteoporosis has unlocked an incredible avenue for market stakeholders. Growing R&D has expanded the avenue for clinical acceptance of newer technologies in the management of chronic neurological disorders, as neurostimulation devices market statistics emphasizes.
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Key Findings of Neurostimulation Devices Market Study
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Neurostimulation Devices Market: Regional Growth Dynamics
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Neurostimulation Devices Market: Key Drivers
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Neurostimulation Devices Market: Key Players
Some of the prominent players in the neurostimulation devices market are Synapse Biomedical, Soterix Medical, Neuronetics, Neuropace, Inc., Neurosigma, Inc., Nevro Corporation, Medtronic, Integer Holdings Corporation, Bioinduction, and Abbott Laboratories.
Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:
Deep Brain Stimulation Devices Market: The global deep brain stimulation devices market for Parkinson's disease is expected to surpass the value of US$ 1.2 Bn by the end of 2028. It is estimated to expand at a CAGR of 5.1% from 2021 to 2028.
Bone Growth Stimulators Market: Increase in prevalence of orthopedic diseases, high demand for platelet-rich plasma, and rise in adoption of bone growth stimulators for the treatment of bone fractures are key factors that are projected to drive the global bone growth stimulators market during the forecast period
Trauma Implants Market: Trauma implants help to ease movement of joints and decrease the pain. Companies in the global trauma implants market are increasing production capabilities in pins/wires, plates, screws, interlocking nails, etc.
Hip Replacement Implants Market: Rapid development of surgery procedures has fueled the demand for hip replacement implants. New implant types and material combinations for better stability and lifespan also contribute to the growth of the global hip replacement implants market.
Cranial Implants Market: The global cranial implants market is expanding due to an increase in the number of brain cancer and trauma cases and rapid technological advancements for establishing effective and efficient treatment platforms for cranial reconstruction.
Pericardial Patches Market : Pericardial Patches Market is driven by rise in prevalence of diseases related to surgical procedures is projected to drive the global market during the forecast period.
Surgical Microscopes Market: surgical microscopes market is estimated to grow at a decent growth rate during the forecast period, owing to key technological advancements in surgical microscopes, surge in R&D funding, rise in demand for ophthalmic surgery microscopes, and increase in prevalence of chronic diseases.
Audiological Devices Market: Audiological devices market is significantly driven by rise in the number of cases of hearing loss across the globe, increase in the geriatric population, and awareness and adoption of audiological equipment among people.
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