Global peripheral nerve stimulators market expected to grow significantly over the forecast period. It is anticipated that the market held a market value of USD 750.36 million in 2018 and is projected to grow at a CAGR of 7.7% over the forecast period. Peripheral Nerve Stimulators is expected to grow at a significant growth rate.
The major factors influencing the growth of the market include; rising economic growth, increasing geriatric devices, increasing growth in technological advancement in the field of medical devices, rising neurological disorders, rising incidence of chronic health problems, and others.
Key Players
Some of the major players operating in the global peripheral nerve stimulators market are B. Braun Melsungen AG, NeuroSigma, Inc, NeuroMetrix, Inc., Avanos Pain Management, Enteromedics, ElectroCore, Inc., Vygon SA, Boston Scientific Corporation, Medline Industries, Inc SPR Therapeutics LLC, Stimwave LLC., SUNMED INC., and others.
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Segmentation
The global peripheral nerve stimulators market has been segmented into product, and end user.
Based on product, the market is segmented into transcutaneous and implantable.
Based on end user, the peripheral nerve stimulators market is segmented into hospitals & clinics, ambulatory centers, specialty center, and others.
Regional Analysis
Geographically the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Geographically, The Americas led the market and accounted for the largest share of the peripheral nerve stimulators market in 2017 owing to the increasing prevalence of neurological diseases, aging population, and rising expenses in research and development by healthcare bodies and government. For instance, in 2017, according to the National SCI Statistical Center, around 288,000 people suffering from spinal cord injury in the US, whereas, 17,700 new spinal cord injury cases are estimated per year. Moreover, the increasing neurological disease would support regional market growth. Europe is expected to hold the second largest position in the global peripheral nerve stimulators market.
Asia-Pacific is the fastest growing peripheral nerve stimulators market owing to the huge patient pool of neurological diseases and government initiatives of healthcare reforms. According to Alzheimer’s Disease International, around 23 million people were affected by dementia in the Asia-Pacific region in 2015 and is projected to reach 71.0 million by 2050. The Middle East and Africa market for peripheral nerve stimulator is expected to grow at a steady.
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