San Francisco, Sept. 12, 2016 (GLOBE NEWSWIRE) — The neurostimulation devices market is expected to reach USD 9.8 billion by 2024, according to a new report by Grand View Research, Inc. The neurostimulation devices market is anticipated to witness a significant growth during the study period from 2016 to 2024. This growth is majorly attributed to high prevalence of chronic diseases, including migraine and epilepsy. Increasing adoption of unhealthy lifestyle, diet, and growth in aging population is resulting in a growing incidence of the chronic disease in individuals. However, adverse effects and risks associated with neurostimulation devices and presence of stringent device approval regulations are expected to hamper the growth.
Apart from the above mentioned factors, increasing incidence of road traffic accidents (RTAs) is also an additional factor propagating growth. Hence, the neurostimulation devices market holds enormous growth prospects and as a result manufacturers are participating in precise R&D exercises to develop new products empowered by advance technology. Some of the technological advancements such as the following are expected to serve as drivers:
Browse full research report with TOC on “Neurostimulation Devices Market Analysis by Product (Deep Brain Stimulators, Gastric Electric Stimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators), by Application (Pain Management, Epilepsy, Essential Tremor, Urinary & Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease, Other Diseases), and Segment Forecasts to 2024” at:http://www.grandviewresearch.com/industry-analysis/neurostimulation-devices-industry
Further Key Findings from the Study Suggest:
The immense growth opportunities available in the Asia Pacific region have attracted manufacturers to enter these areas, for example, Medtronic aims at generating 20% of its revenue from emerging economies in the next 5 years, commencing from 2011
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Grand View Research has segmented the neurostimulation devices market on the basis of product, application, and region:
Neurostimulation Devices Product Outlook (Revenue, USD Million, Volume, 000 units, 2013 – 2024)
Neurostimulation Devices Application Outlook (Revenue, USD Million, 2013 – 2024)
Neurostimulation Devices Regional Outlook (Revenue, USD Million, 2013 – 2024)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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