Neurostimulation Devices: Competitive Landscape, Market Evolution and Opportunity Areas

Extensive research in the field of Neurostimulation has demonstrated the potential of this technique in providing therapeutic relief to a number of patients, who have developed resistance to conventional medication. Since the introduction of the first neurostimulation therapy in 1960s, their numerous observed benefits, such as reversible and minimally invasive nature of the procedures (to administer such treatments), targeted approach to therapeutic relief that can be modulated as well, provisions for integrating various safety mechanisms, and negligible use of opioids / other medications, have captured the interest of several stakeholders in the industry. In fact, since 2010, over 4,000 patents have been published in this domain, indicating the rapid pace at which research is being carried out

Opinions expressed by eminent industry stakeholders acknowledge the enormous potential of neurostimulation devices for treating a myriad of chronic clinical conditions

Over the years, more than 4,000 patents have been granted / filed related to neurostimulation devices, demonstrating the heightened pace of research in this domain

As a result of the widening interest, close to 1,000 clinical trials have been registered worldwide, featuring the participation of several industry / non-industry stakeholders

Presently, over 120 neurostimulation devices are available / being developed for the treatment / management of the debilitating symptoms of different neurological conditions

Ongoing innovation has led to the development of advanced technology platforms that have significantly strengthened the growing product landscape

In fact, the number of device approvals have increased over time, and products addressing a diverse array of therapeutic areas are now available across different geographies

Companies developing novel therapies have already established strong brand positions, and are expected to transform the treatment landscape in the mid-long term

Foreseeing an opportunistic future, investors have made capital investments worth ~USD 1.8 billion in over 100 instances since 2015

The opportunity is anticipated to be distributed across different target indications and device types; we expect an annualized growth of 13.2% over the next decade

Stakeholders in Asia-Pacific are likely to gain a higher share as the market evolves; it is also worth highlighting that full body MRI compatible devices will become more commonplace in the long term

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For further information on this domain, check our report here.

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