The global Peripheral Neurostimulator System Market size was USD 958.5 Million in 2021 and is expected to register a revenue CAGR of 7.7% during the forecast period, according to latest analysis by Emergen Research. Medical technology developments are to blame for peripheral neurostimulator systems consistent market revenue increase. As an illustration, the Nalu Neurostimulation System's small size and exceptional capabilities give patients more options for managing unmanageable chronic pain.
The Peripheral Neurostimulator System market drivers and restraints Market report covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
Nalu Neurostimulation might be the long-term cure for chronic pain. Another example is the Proclaim DRG Neurostimulation System, the first and only neurostimulation tool authorised for treating Complex Regional Pain Syndrome (CRPS). Patients benefit from an intuitive therapeutic experience thanks to the proclaimed platform's iOS software and Bluetooth wireless technologies. Therefore, expanding medical technology developments like these present a catalyst for favourable market revenue growth.
Another reason driving the market revenue growth of peripheral neurostimulator systems is the increase in neurological diseases cases. For instance, neurological illnesses caused 533,172 fatalities in 2019, of which 320,043 (or 60%) were female and 213,129 (or 40%) were male. Age-standardized mortality rates vary by nation, with Venezuela having the lowest rate (6.6 deaths per 100,000 people) and the United States of America having the highest rate (47.4 deaths per 100,000 people). Therefore, it is anticipated that the global market for peripheral neurostimulator systems will rise significantly along with the rising frequency of neurological illnesses.
The major companies Covered in the report are:
Braun SE, NeuroSigma, Inc., NeuroMetrix, Inc., AVNS, electroCore, Inc., Vygon, Boston Scientific Corporation, Medline Industries, Inc., Stimwave LLC, SunMed
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Competitive Landscape:
The market intelligence report on the Peripheral Neurostimulator System Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
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The report offers an accurate forecast estimation of the Peripheral Neurostimulator System industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Peripheral Neurostimulator System market.
Segments Covered in this report are:
- Product Outlook (Revenue, USD Million; 2019-2030)
- Transcutaneous
- Percutaneous
- Implantable
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Hospitals Clinics
- Ambulatory Centers
- Specialty Center
- Others
- Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Israel
- Rest of Middle East Africa
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Key highlights of this research report:
- The peripheral neurostimulator system market has been divided into hospitals and clinics, ambulatory centres, specialty centres, and others based on end-use. Due to increased patient falls and the accessibility of highly skilled technology teams, the hospitals and clinics segment is anticipated to account for the biggest revenue share during the projection period. Due to the well-established healthcare infrastructure, solid medical reimbursement options for neurostimulation devices in industrialised nations, and high cost of implanted devices, the hospital segment has a sizable market.
- Transcutaneous, percutaneous, and implanted peripheral neurostimulator system markets have been divided based on product. Due to the fact that it is the most common and traditional form of stimulant, the transcutaneous category is anticipated to represent the biggest revenue share during the projection period. For instance, on January 31, 2022, Medtronic received FDA approval for its Vanta recharge-free neurostimulator and Intellis rechargeable neurostimulator for the treatment of chronic pain brought on by diabetic peripheral neuropathy (DPN). Transcutaneous stimulators are therefore more used, which is fueling market revenue growth. This is because the FDA is approving more devices on a regular basis.
The professional intelligence study on the Peripheral Neurostimulator System market addresses some of the most critical questions:
What market size will 2031 be, and what growth rate will it experience?
What are the key trends in the Market?
What are the driving forces behind the Peripheral Neurostimulator System market?
What are the obstacles to market growth?
Which are the top vendors in this space?
What are the threats and opportunities in the market for key vendors?
What are the strengths or weaknesses of critical vendors?
What are the future opportunities for the players in the Peripheral Neurostimulator System market?
What are the main issues facing the global Peripheral Neurostimulator System market?
How does the competitive landscape look?
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