DUBLIN--(BUSINESS WIRE)--The "Europe Neurostimulation Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The major factors for the growth of the Europe neurostimulation market include the increase in geriatric population and rising prevalence of neurological disorders, rising demand for minimally invasive surgeries, and technological advancement.
Among the age-related neurodegenerative disorders, Parkinson's disease (PD) is the second most common, after Alzheimer's disease. An estimated 10 million people are affected by this disease, globally. According to NHS UK, Parkinson's disease is found affecting around 1 in 500 people, which means there are an estimated 127,000 people in the UK with the condition.
Most people with Parkinson's start to develop symptoms when they're over 50, although around 1 in 20 people with the condition first experience symptoms when they're under 40. Furthermore, neurostimulation devices also play a significant role in pain management.
Recently in November 2018, Abbott announced the launch of the new DRG Invisible Trial System, which is approved by the United States Food and Drug Administration (FDA) and received CE Mark in Europe.
Thus, owing to the rising prevalence of neurological diseases and increasing technological advancements the market is expected to witness high growth over the forecast period.
Parkinson's Disease Expected to Be the Fastest Growing Segment
The rising aging population and increasing prevalence of Parkinson's diseases the market is expected to witness a high growth rate. Parkinson syndrome is one of the most common neurological diseases found in Germany. It is found affecting the older population and among the above 65-year-olds, the prevalence is 1,800 per 100,000. Therefore in Germany, there are large numbers of patients that are likely to increase in the future.
Furthermore, there is a rising aging population in Europe, for instance, according to the Fondation de France, one in five French people is over 60 years old, and in 2050 one in three will be. Therefore aging-associated diseases are assuming ever-greater proportions. Parkinson's disease currently affects around 150,000 people in France.
The Deep Brain Stimulation (DBS) is the most commonly performed surgical treatment for Parkinson's, but it's not for everyone. DBS therapy is currently approved in many locations across the globe, including the United States and Europe, for the treatment of the disabling symptoms of essential tremor and recent and longer-standing Parkinson's disease.
Thus owing to the all above-mentioned factors the market is expected to witness high growth over the forecast period.
The market studied is a moderately consolidated market owing to the presence of small and large market players. Some of the market players are Medtronic, Boston Scientific Corporation, Abbott, LivaNova, Nevro Corporation, NeuroSigma, The Magstim Company Limited, Neuronetics, and Renishaw.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Geriatric Population and Rising Prevalence of Neurological Disorders
4.2.2 Rising Demand of Minimally Invasive Surgeries
4.2.3 Technological Advancement
4.3 Market Restraints
4.3.1 Side Effects of Associated Neurostimulation Devices
4.3.2 Stringent Regulatory Approvals
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Technology
5.1.1 Internal Neuromodulation
184.108.40.206 Spinal Cord Stimulation (SCS)
220.127.116.11 Deep Brain Stimulation (DBS)
18.104.22.168 Vagus Nerve Stimulation (VNS)
22.214.171.124 Sacral Nerve Stimulation (SNS)
126.96.36.199 Gastric Electrical Stimulation (GES)
5.1.2 External Neuromodulation (Non-Invasive)
188.8.131.52 Transcutaneous Electrical Nerve Stimulation (TENS)
184.108.40.206 Transcranial Magnetic Stimulation (TMS)
220.127.116.11 Respiratory Electrical Stimulation (RES)
5.2 By Application
5.2.1 Parkinson's disease
5.2.5 Pain Management
5.2.6 Other Applications
18.104.22.168 Rest of Europe
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Boston Scientific Corporation
6.1.4 LivaNova PLC
6.1.5 Nevro Corporation
6.1.6 NeuroSigma Inc.
6.1.7 The Magstim Company Limited
6.1.9 Renishaw PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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