Albany – New Work, Oct. 27, 2015 (GLOBE NEWSWIRE) — Transparency Market Research, a U.S.-based market intelligence firm, has recently published a research report on the global neuromodulation devices market. The report is an attempt to present a thorough analysis of the market, including a snapshot of its competitive landscape, key vendor analysis, and inputs and recommendations from industry experts. The research report is titled “Neuromodulation Devices Market – Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 – 2018”.According to statistics provided in the research report, the global neuromodulation devices market is anticipated to touch US$7072.6 million by the end of 2018 along with a progressive growth at a 14.4% CAGR between 2012 and 2018. In 2011, the global market for neuromodulation devices was worth US$2758 million.
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The global market for neuromodulation devices is driven by a variety of factors, such as the rising prevalence of chronic diseases and the presence of unmet medical needs, rising aging population more vulnerable to diseases such as Parkinson’s and Alzheimer’s, technological advancements, the nature of neuromodulation devices as an add-on therapy, rising global prevalence of lifestyle-induced illnesses (depression and obesity), increasing consumer expenditure on healthcare, rising instances of external funding to conduct clinical studies, and increasing demand for minimally invasive surgeries.
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On the flip side, the rapidly changing technological landscape, easy availability of alternate treatment procedures, side effects and risks associated with the use of neuromodulation devices, and complicated procedures needed for FDA approvals and other government regulations are expected to hamper demand from the neuromodulation devices market in the forecast period.The global neuromodulation devices market has been segmented on the basis of geography into four regions, namely Europe, Asia Pacific, North America, and Rest of the World (ROW). The research report further presents detailed market analysis, size, and forecasts for all the geographical regions. As per the figures provided in the report, in 2011, North America dominated the market with a 65% share, worth US$1792.7 million. The developing economies of Asia Pacific have been responsible for the rising demand for neuromodulation devices and the stellar expected growth of the Asia Pacific market for neuromodulation devices at a CAGR of more than 15% between 2012 and 2018.
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Many developing countries of Latin America, Asia Pacific, and Eastern Europe are becoming increasingly significant in the global neuromodulation devices market. In addition, consolidation of the healthcare industry, medical device manufacture outsourcing, and increasing information regarding the human nervous system are the rising opportunities for companies in the neuromodulation devices industry.
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The last section of the reports talks about the prominent companies operating in the industry. The research report on the global neuromodulation devices market has provided a list of key players and new entrants along with their company overview, business strategies, product portfolio, and the recent developments in the industry. The report has also worked on the SWOT analysis of individual companies for a complete understanding of the challenges and threats faced by them. Some of the key players mentioned in the research report are Medtronic, Uroplasty, Nevro, Cyberonics, Neuronetics Inc., Boston Scientific Group, St. Jude Medical, Codman and Shurtleff, IntraPace, Cervel Neurotech Inc., and Integra.
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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