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
To learn more, please click Neurostimulation Devices Market. For any queries / suggestions, please do not hesitate to contact us at sales@rootsanalysis.com.
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Arun_Gupta
Arun is an enthusiastic professional and has been associated with Roots Analysis since the very early years. He has led multifaceted roles over the years be it business research, consulting, competitive intelligence, IT & technology, sales and marketing. He currently drives strategic thinking and execution within the sales and marketing domain. With educational background in life sciences from Thapar University and digital marketing credentials from Indian School of Business, he has led a lot of critical initiatives at the organization. His background in life sciences has been one of the key reasons for quick understanding and implementation of customized marketing strategies. During his early years, he has led multiple consulting assignments for global clients ranging from competitive landscaping, deal structuring and preparing go-to-market strategy for his clients.