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Neurostimulation Devices Market

Neurostimulation Devices Market Size by Device Type (Implantable Devices and External Devices), Application (Parkinson's Disease, Essential Tremor, Depression, Gastroparesis, Urinary and Fecal Incontinence and Others), End-User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Base Year: 2020 Historical Data: 2018-19
  • Report ID: TBI-12546
  • Published Date: Oct, 2021
  • Pages: 226
  • Category: Healthcare
  • Format: PDF
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Global neurostimulation devices market is anticipated to reach USD 22.49 Billion by 2028, at a CAGR of 15.53% from 2021 to 2028. Global neurostimulation devices market is witnessing a considerable growth owing to the increasing demand for minimally invasive technologies in the developed countries.

Market Overview:

Neurostimulation is the intentional controlling of nervous system activity. This is done by invasive means like microelectrodes or non-invasive means like transcranial magnetic stimulation. Neurostimulation act as a pain relief by disrupting the pain signal travelling between the spinal cord and brain. Neurostimulation is very effective for the people who are severely paralyzed and in the loses of sense organ. This is very effective in case of chronic pain cases. Neurostimulation are also used in neural prosthetics for artificial vision and for hearing aids. An implantable neurostimulator is a device which is placed surgically. It triggers mild electrical impulse to the nerves in the spine and disrupt the signal travelling from the spinal cord to the brain. Signal is triggered through one or more thin wires which are called leads. The rise in the cases of chronic disease due to unhealthy lifestyle and food habits is driving the neurostimulation device market. The increasing geriatric population in the developed countries are also propelling this market. As they are more prone to chronic disease and ailment. The increasing investment in R&D and technological advancement with time would fuel this market in the forecasting period. This is because the quality of the device would become better and better with time. Also, the investment in R &D is giving more emphasis on non-invasive means, which would be more in demand. The kind of lifestyle people are living could lead to depression, neurological disorder, etc., such factors are forming a solid base for the neurostimulation device market. However, the high cost of the price and other treatment like surgeries and drug therapies are acting as major restraint for the neurostimulation devices. According to the American Academy of Neurology, Alzheimer is ranked 6th for the cause of death, and nearly 1 Million people suffer from Parkinson annually.

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Market Dynamics:

Drivers:
  • The rise in demand for minimally invasive technologies in the developed countries

With the advancement in technologies and increase in disposable income among people of developed countries, the standard in all the sectors have increased. The people can have now access to better quality products. This has increased the standards in every corner of business segments. The healthcare has also dedicated to provide better service to its patient to maintain its standard. These daystranscranial electric stimulation and transcranial magnetic stimulation have been offered as non-invasive methods where the magnetic field or transcranially applied electric currents would result in neurostimulation. As it is non-invasive, it is less painful, and so it is more in demand. This factor drives this market.

Restraints:
  • The allergic reaction and tingling or prickling of the skin due to implantation of a neurostimulation device

The side effects caused by the implantation of neurostimulation device is one of the factors that is restraining the market. The side effects like allergic reaction and tingling or prickling of the skin are caused due to implantation of neurostimulation device, which is the main restraint.

Opportunities:
  • Rising incidence of neurological disorders and lifestyle-related disorders

The hectic lifestyle and unhealthy food habits of the people in recent times have led to many neurological disorders. Moreover growing geriatric population in developed countries may lead to severe chronic pain and neurological disorders such as epilepsy, Parkinson disease, Alzheimer disease, and chronic pain, among others. These factors propel the growth of the neurostimulation devices market in the forecasting period owing to the neurostimulation device application in curing neurological disorders.

  • Availability of substitutes

The availability of other treatment options such as drug therapies and surgeries in the treatment of neurological disorders are also used many times because of the increasing price of neurostimulation device and people’s less awareness about the latest technologies. But the main factor is the costly price of the device which let the people to take other treatment such as drug therapies and surgeries. This could be the main challenge for this market.

Segmentation Analysis:

The global neurostimulation devices market has been segmented based ondevice type, application, end-user and regions.

  • The device type segment is divided into implantable devices and external devices. As of 2020, implantable devices are accounted for the largest market share of around 68.7%. This is because implantable devices are the most preferred devices.
  • The application segment includes essential tremor, parkinson disease, depression, urinary & fetal incontinence, gastroparesis, epilepsy, pain management, dystonia and others. As of 2020, pain management is the leading application segment of the global neurostimulation devices market with a market share of 71.27%, this is due to the widespread of chronic pain disorders, and the increase in the usage of product for pain management as it has high therapeutic value are the factors propelling the segment. The segment will also register the fastest CAGR during the forecast period. Some of the diseases under this segment are chronic pain, leg pain and disk surgery pain.
  • The end-user segment includes rehabilitation centres, hospitals and medical clinic. The hospital segment is expected to have the highest market share of around 38.13% during the forecasting period. Easy availability of neurostimulation devices in hospitals and better facilities and services are the key factor leading to increasing demand from hospitals.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The North America region emerged as the largest market for the Neurostimulation Devices market with a market share of around 34.78% in 2020.

  • North America region is having the largest market share in 2020. However, strict government regulations and increasing average number of days required for the FDA approval process may hinder the region’s growth.
  • Asia Pacific region seems to have the highest CAGR in the forecasting period. This is because many international producers have identified the untapped market opportunity in this region and therefore started expanding this region. Moreover, the development of the healthcare infrastructure in the emerging economies of the region like India and China would propel the market in this region.

The North America Neurostimulation Devices Market Share in 2020 - USD 34.78%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances and partnerships to improve their market position in the global Neurostimulation Devices industry.

In June 2018, NeuroPace launched the RNS System for the treatment of refractory epilepsy. This has expanded the product portfolio of the company which increased the customer base.

In April 2018, Allergan plc, launched True Tear device which is the only FDA-cleared device to temporarily increase tear production during neurostimulation in adult patients.

List of key market players:

  • NeuroSigma, Inc.
  • Boston Scientific Corporation
  • LivaNova PLC.
  • Cochlear Ltd.
  • Endostim Inc.
  • Medtronic
  • Autonomic Technologies
  • AlevaNeurotherapeutics SA
  • Synapse Biomedical Inc.
  • BioControl Medical
  • NeuroPaceInc
  • Allergan

Key Target Audience:

  • Hospitals
  • Rehabilitation centers,
  • Government Authorities
  • Medical Clinic

Report Description:

  • Global Neurostimulation Devices Market, Industry Analysis, Trends, Analysis and Forecast, 2021 to 2028 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2020 is considered as the base year of the report. 2018 and 2019 are considered as the historic years and 2021 to 2028 are the forecast years. The global Neurostimulation Devices market is based on revenue (USD Million/Billion), volume and price. The report incorporates the market study on the basis of revenue, and volume. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global Neurostimulation Devices market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts all across the globe. The research report also delivers an outline of the attractiveness of device type, application, end-userand regions which are deduced and formulated on the basis of their growth rate (CAGR), market size, and attractiveness by analyzing the present and future prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global Neurostimulation Devices market.  This offers vital and in depth insights in order to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global Neurostimulation Devices market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario. 
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis so as to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development in order to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which acts as a key potential for the investors. 
  • Potential growth prospects along with the penetration rate analysis of the products (market related i.e., global Neurostimulation Devices market) is covered in order to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the neurostimulation devices market was valued at USD 6.41 billion in 2020 and is anticipated to reach USD 22.49 billion by 2028.

Global neurostimulation devices market is growing at a CAGR of 15.53% during the forecast period 2021-2028.

The global neurostimulation devices market has been segmented based of device type, application, end user and regions. Implantable devices is the leading device type segment in 2020.

The North America region emerged as the largest market for the neurostimulation devices.

Increasing demand for minimally invasive technologies in the developed countries is the key driving factor for the neurostimulation devices market.

Side effects such as allergic reaction and tingling or prickling of the skin due to implantation of neurostimulation device could hamper the market growth.

Rising incidence of neurological disorders and lifestyle–related disorders will provide huge opportunities to the market.

Key players are NeuroSigma, Inc., Boston Scientific Corporation, LivaNova PLC., Cochlear Ltd., Endostim Inc., Medtronic, Autonomic Technologies.

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  • Segmentation on the basis of any specific country or region
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Device Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By End User
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing demand for minimally invasive technologies in the developed countries
          5.2.2. Growing geriatric population
    5.3. Restraints
          5.3.1. Side effects such as allergic reaction and tingling or prickling of the skin due to implantation of neurostimulation device
    5.4. Opportunities
          5.4.1. Rising incidence of neurological disorders and lifestyle–related disorders
    5.5. Challenges
          5.5.1. Availability of substitutes

6. Global Nuerostimulation Devices Market Analysis and Forecast, By Device Type
    6.1. Segment Overview
    6.2. Implantable Devices
          6.2.1. Sacral Nerve Stimulators
          6.2.2. Deep Brain Stimulators
          6.2.3. Gastric Electric Stimulators
          6.2.4. Spinal Cord Stimulators
          6.2.5. Vagus Nerve Stimulators
          6.2.6. Others
    6.3. External Devices
          6.3.1. Transcranial Magnetic Stimulator
          6.3.2. Transcutaneous Electrical Nerve Stimulator

7. Global Nuerostimulation Devices Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Parkinson’s Disease
    7.3. Essential Tremor
    7.4. Depression
    7.5. Gastroparesis
    7.6. Urinary & Fecal Incontinence
    7.7. Epilepsy
    7.8. Pain Management
    7.9. Dystonia
    7.10. Others

8. Global Nuerostimulation Devices Market Analysis and Forecast, By End User
    8.1. Segment Overview
    8.2. Rehabilitation Centers
    8.3. Hospitals
    8.4. Medical Clinic

9. Global Nuerostimulation Devices MarketAnalysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Nuerostimulation Devices Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in GlobalNuerostimulation Devices Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. NeuroSigma, Inc.
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Boston Scientific Corporation
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. LivaNova PLC.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Cochlear Ltd.
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Endostim Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Medtronic
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Autonomic Technologies
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Aleva Neurotherapeutics SA
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Synapse Biomedical Inc.
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. BioControl Medical
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. NeuroPace Inc
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Allergan
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
 

List of Table

1.Global Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

2.Global Implantable Devices Nuerostimulation Devices Market, By Region, 2018-2028  (USD Billion)

3.Global External Devices Nuerostimulation Devices Market, By Region, 2018-2028   (USD Billion)

4.Global Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

5.Global Parkinson’s Disease, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

6.Global Essential Tremor, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

7.Global Depression, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

8.Global Gastroparesis, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

9.Global Urinary & Fecal Incontinence, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

10.Global Epilepsy, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

11.Global Pain Management, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

12.Global Dystonia, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

13.Global Others, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

14.Global Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

15.Global Rehabilitation Centers, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

Global Hospitals, Nuerostimulation Devices Market, By Region, 2018-2028  (USD Billion)

17.Global Medical Clinic, Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

18.Global Nuerostimulation Devices Market, By Region, 2018-2028 (USD Billion)

19.Global Nuerostimulation Devices Market, By North America, 2018-2028 (USD Billion)

20.North America Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

21.North America Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

22.North America Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

23.U.S. Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

24.U.S. Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

25.U.S. Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

26.Canada Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

27.Canada Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

28.Canada Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

29.Mexico Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

30.Mexico Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

31.Mexico Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

32.Europe Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

33.Europe Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

34.Europe Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

35.Germany Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

36.Germany Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

37.Germany Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

38.France Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

39.France Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

40.France Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

41.U.K. Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

42.U.K. Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

43.U.K.Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

44.Italy Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

45.Italy Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

46.Italy Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

47.Spain Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

48.Spain Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

49.Spain Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

50.Asia Pacific Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

51.Asia Pacific Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

52.Asia PacificNuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

53.Japan Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

54.Japan Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

55.Japan Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

56.China Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

57.China Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

58.China Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

59.India Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

60.India Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

61.India Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

62.South America Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

63.South America Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

64.South America Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

65.Brazil Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

66.Brazil Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

67.Brazil Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

68.Middle East and Africa Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

69.Middle East and Africa Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

70.Middle EastNuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

71.UAE Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

72.UAE Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

73.UAEN uerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

74.South Africa Nuerostimulation Devices Market, By Device Type, 2018-2028 (USD Billion)

75.South Africa Nuerostimulation Devices Market, By Application, 2018-2028 (USD Billion)

76.South Africa Nuerostimulation Devices Market, By End User, 2018-2028 (USD Billion)

List of Figures 

1.Global Nuerostimulation Devices Market Segmentation

2.Nuerostimulation Devices Market: Research Methodology

3.Market Size Estimation Methodology: Bottom-Up Approach

4.Market Size Estimation Methodology: Top-Down Approach

5.Data Triangulation

6.Porter’s Five Forces Analysis

7.Value Chain Analysis

8.Global Nuerostimulation Devices Market Attractiveness Analysis By Device Type

9.Global Nuerostimulation Devices Market Attractiveness Analysis By Application

10.Global Nuerostimulation Devices Market Attractiveness Analysis By End User

11.Global Nuerostimulation Devices Market Attractiveness Analysis By Region

12.Global Nuerostimulation Devices Market: Dynamics

13.Global Nuerostimulation Devices Market Share By Device Type(2021 & 2028)

14.Global Nuerostimulation Devices Market Share by Application(2021 & 2028)

15.Global Nuerostimulation Devices Market Share by End User(2021 & 2028)

16.Global Nuerostimulation Devices Market Share by Regions (2021 & 2028)

17.Global Nuerostimulation Devices Market Share by Company (2020)

This study forecasts revenue at global, regional, and country levels from 2018 to 2028. The Brainy Insights has segmented the global Nuerostimulation Devices market on the basis of below mentioned segments:

Global Nuerostimulation Devices Market by Device Type:

  • Implantable Devices
    • Sacral Nerve Stimulators
    • Deep Brain Stimulators
    • Gastric Electric Stimulators
    • Spinal Cord Stimulators
    • Vagus Nerve Stimulators
    • Others
  • External Devices
    • Transcranial Magnetic Stimulator
    • Transcutaneous Electrical Nerve Stimulator

Global Nuerostimulation Devices Market by Application:

  • Parkinson's Disease
  • Essential Tremor
  • Depression
  • Gastroparesis
  • Urinary & Fecal Incontinence
  • Epilepsy
  • Pain Management
  • Dystonia
  • Others

Global Nuerostimulation Devices Market by End User:

  • Rehabilitation Centers
  • Hospitals
  • Medical Clinic

Global Nuerostimulation Devices Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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