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Electrical stimulation devices market analysis| Coherent Market Insights

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Title: Electrical stimulation devices market analysis| Coherent Market Insights


1
Coherent Marketing Insights
  • Market Research Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • Covid-19 Impact Tracker

2
  • ELECTRICAL STIMULATION DEVICES MARKET ANALYSIS
  • Electrical Stimulation Devices Market, by Device
    (Spinal Cord Stimulation Devices, Deep Brain
    Stimulation Devices, Vagus Nerve Stimulation
    Devices, Sacral Nerve Stimulation Devices,
    Gastric Electric Stimulation Devices,
    Transcutaneous electrical nerve Stimulation
    Devices, Neuromuscular Electrical Stimulation
    Devices, Cranial Electrical Stimulation Device,
    and Other Electrical Stimulation Devices), by
    Application (Pain Management, Neurological and
    Movement Disorder Management, Musculoskeletal
    Disorder Management, Metabolism GIT Management,
    Incontinence Management, and Others), by End User
    (Hospitals, Specialty Clinics, Ambulatory
    Centers, and Others), and by Region (North
    America, Latin America, Europe, Asia Pacific,
    Middle East, and Africa) - Global Industry
    Insights, and Forecast till 2026

3
  • Figure 1. Global Electrical Stimulation Devices
    Market Value (US Mn), by Region, 2017

4
  • Increasing incidences of spinal injuries is
    expected to propel growth of the electrical
    stimulation devices market
  • Electrical stimulation devices are used in
    preoperative and postoperative pain management in
    patients with spinal injuries. High incidence of
    spinal injuries caused due to accidents, falls or
    violence is expected to propel demand for spinal
    surgeries, which in turn is expected to drive the
    market growth. According to World Health
    Organization (WHO) factsheet in 2018, annually
    there are around 37.3 million falls, which
    require medical attention, whereas about 646,000
    individuals die each year, from falls globally.
  • Moreover, increasing incidences of neurological
    disorders such as Alzheimers disease and trauma
    associated with spinal injuries is expected to
    propel growth of the electrical stimulation
    devices market over the forecast period. For
    instance, in August 2012, National Center for
    Biotechnology Information (NCBI) stated
    Alzheimers disease as the most frequent cause of
    dementia in Western societies and estimated
    around 5.5 million cases of the disease in the
    U.S., and 24 million globally.

5
  • However, increasing number of competitors have
    created intense competition in electrical
    stimulation devices market, leading to less
    profit margin and thus hindering the market
    growth. Also, rise in the number of local market
    players, is effecting decrease in prices of
    stimulation devices, which hinder the market
    growth. For instance, in January 2019,
    Neuroliefs featured Relivion a wearable
    neuromodulation technology at Annual
    International Headache Symposium in Israel
    (IHSI).
  • Electrical stimulation devices play a major role
    in advanced healthcare, as it cause muscle
    contraction with the use of electric impulses.
    Electrical stimulation devices are used in
    treating muscle weakness due to injuries or
    neurological disorders. The lead wires and
    electrodes of stimulation devices are affixed on
    the skin over the target region of body.
  • The global electrical stimulation devices market
    size was valued at US 3,956.0 million in 2017,
    and is expected to exhibit a CAGR of 4.7 over
    the forecast period (2018 2026).

6
Figure 2. Global Electrical Stimulation Devices
Market Share (), by Application, 2018 and 2026

7
Increasing prevalence of chronic diseases in
North America is expected to bolster the market
growth
  • North America holds dominant position in the
    global electrical stimulation devices market,
    owing to high prevalence of chronic diseases.
    According to National Center for Biotechnology
    Information (NCBI), March 2018, an estimated 45,
    or around 33 million Americans were diagnosed by
    at least one chronic disease.
  • Moreover, rise in geriatric population, who are
    highly susceptible to pain, is expected to
    bolster the market growth over the forecast
    period.
  • According to American Psychological Association,
    2014 report, around 40 million people over the
    age 65 years account for 14 of total population
    and around 60 to 75 of people over age 65 years
    are diagnosed with persistent pain.
  • Moreover, key players in the market are focused
    on availing the U.S. Food and Drug Administration
    (FDA) approval for novel products to treat
    patients. For instance, in August 2017, Boston
    Scientific Neuromodulation Corporation, received
    approval from U.S. FDA for Precision Spinal Cord
    Stimulator System, Precision Spectra Spinal Cord
    Stimulator System, Precision Novi Spinal Cord
    Stimulator System, Precision Montage MRI Spinal
    Cord Stimulator System, Precision Montage Spinal
    Cord Stimulator System, and Spectra WaveWriter
    Spinal Cord Stimulator System for pain associated
    with back surgery, low back, and leg pain.

8
Key Players
  • Major players operating in the global electrical
    stimulation devices market include Boston
    Scientific Corporation, BTL Industries, Inc.,
    Cyberonics, Inc., DJO Global, Inc., Medtronic
    plc., Nevro Corporation., NeuroMetrix, Inc., St.
    Jude Medical, Inc., Uroplasty, Inc. (Cogentix
    Medical), and Zynex, Inc.

9
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Referance https//www.coherentmarketinsights.com/
    market-insight/electrical-stimulation-devices-mark
    et-2486

10
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions. We are headquartered
    in India, having office at global financial
    capital in the U.S. Our client base includes
    players from across all business verticals in
    over 150 countries worldwide.
  • What We ProvideCustomized Market Research
    AnalysisIndustry Analysis ServicesBusiness
    Consulting ServicesLong Term Engagement
    ModelCountry Specific Analysis

11
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt. LTD.Coherent
    Market Insights 1001 4th Ave, 3200 Seattle, WA
    98154, U.S.Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

12
Thank You
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