Neurostimulation Devices Market Size, Share & Trends Report

Neurostimulation Devices Market Size, Share & Trends Analysis Report By Application (Pain Management, Parkinson’s Disease), By Product (Spinal Cord Stimulator, Gastric Electric Stimulator), And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-066-8
  • Number of Pages: 102
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the neurostimulation devices market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for neurostimulation devices market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of neurostimulation devices market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Neurostimulation Devices Market Categorization:

The neurostimulation devices market was categorized into four segments, namely product (Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Electric Stimulator), application (Pain Management, Epilepsy, Essential Tremor, Urinary & Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The neurostimulation devices market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The neurostimulation devices market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Denmark; Norway; Sweden; China; Japan; India; Australia; Thailand; South Korea; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; and Kuwait

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Neurostimulation devices market companies & financials:

The neurostimulation devices market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include: 

  • IntraPace, Inc. develops and manufactures medical instruments for the treatment of obesity. It also manufactures medical devices to monitor food intake and weight loss. The company offers ‘Abiliti’, a device that stimulates a satiety response and enables the patient to lose weight. It is built on a verified technology that is used in millions of cardiac pacemakers and defibrillators. The Abiliti system allows patients to accomplish and sustain significant weight loss without any complications and lifestyle restrictions.

  • Codman & Shurtleff is a global neuroscience and neurovascular company, which develops and provides a broad range of products and solutions for neurological disorders, including adult and pediatric hydrocephalus, chronic pain management, aneurysm, neurocritical care, and stroke prevention and management. Codman & Shurtleff is a part of the DePuy Family of Companies within Johnson & Johnson. It offers a portfolio of solutions and therapies, including catheters, programmable shunt systems, drug pumps, neurovascular coils, trauma monitoring devices, liquid embolics, and vascular reconstruction devices.

  • Uroplasty, Inc. is a medical devices company based in the U.S. that develops, manufactures, and markets products for the treatment of voiding dysfunction. Its product Urgent PC System is a neurostimulation therapy for the treatment of urinary symptoms such as urinary urgency, urinary frequency, and urge incontinence. Products offered by Uroplasty are utilized by urologists, urogynecologists, and gynecologists. The company is affiliated with the National Association for Continence, Interstitial Cystitis Association, American Urogynecologic Society, and Society of Urologic Nurses and Associates. It is a member of LifeScience Alley and Manufacturers Alliance. In March 2015, Uroplasty merged with Vision-Sciences to create a new medical devices company called Cogentix Medical, Inc.

  • Neuronetics is a medical devices company that develops innovative therapies for psychiatric and neurological disorders. It develops and commercializes non-invasive therapies to treat chronic psychiatric and neurological disorders using MRI-strength magnetic field pulses. The company’s products include NeuroStar Transcranial Magnetic Stimulation (TMS), which is a non-systemic and noninvasive form of neuromodulation therapy system used to treat major depressive disorders; NeuroStar Efficacy; and NeuroStar Safety.

  • Nevro Corporation is a medical devices company that develops and manufactures neuromodulation devices for the treatment of chronic pain. It operates in the U.S., UK, Germany, and Australia. The company’s product, Senza Spinal Cord Stimulation Device, is designed for the treatment of chronic pain.

  • Cyberonics, Inc. is a medical devices company involved in the designing, manufacturing, developing, and marketing of medical devices. The company's flagship product, VNS Therapy System, branded as an implantable device, is designed to provide neuromodulation therapy required in the treatment of drug-resistant epilepsy as well as treatment-resistant depression. The company is actively focused on its efforts to develop non-implantable device solutions for managing epilepsy. It also provides various types of equipment that help in implantation surgery, instruction manuals, and magnets for suspending or inducing stimulation manually.

  • Boston Scientific Corporation is a medical technology company dedicated to delivering high performance. The company’s product portfolio includes solutions for interventional cardiology, peripheral interventions, electrophysiology, endoscopy, cardiac rhythm management, urology & pelvic health, neuromodulation, and MedSurg.

  • St. Jude Medical is a medical devices company that develops and manufactures devices for heart failure management, structural heart, cardiac rhythm management, vascular, electrophysiology, and neuromodulation devices for managing chronic pain. The company had four business segments, namely – Cardiac Rhythm Management (CRM), Cardiovascular (CV), Atrial Fibrillation (AF), and Neuromodulation (NMD). The company has more than 20 principal operations and manufacturing facilities worldwide, with its products being sold in more than 100 countries. In January 2017, St. Jude Medical was acquired by Abbott.  

  • Medtronic is a global health solutions company, which operates through the following segments – Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. Its cardiac surgery products include positioning and stabilization system for beating heart surgery. The company has carried forward innovation in the surgical space facilitated by robotic and automated technologies. Medtronic vascular offers therapies and products for treatment of vascular diseases. These products include coronary, peripheral, and vascular stents. Its neurological segment offers infusion therapies, neurostimulation, and drug pumps for chronic pain. The company’s brain therapy division includes an integrated portfolio of devices for treating neurological disorders and surgical technologies designed to improve the work flow of neurological procedures.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Neurostimulation Devices Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Neurostimulation Devices Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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