North America Set to Witness Neurostimulation Device Market Boom in Future

The global neurostimulation device market will exhibit huge expansion in the coming years, as per the forecast of P&S Intelligence, a market research firm based in India. The key factors driving the progress of the market are the surging geriatric population, the rising prevalence of neurological ailments and various chronic diseases, the growing incidence of chronic pain among people, and the increasing public awareness about mental health and the various treatments available for mental disorders.

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This is because geriatric people are highly vulnerable to chronic pain and various neurological diseases such as epilepsy, Parkinson’s disease, and Alzheimer’s disease. Besides this, the rising popularity of minimally invasive treatment procedures is also boosting the demand for neurostimulation devices across the globe. Nowadays, many people are preferring medical treatments that cause very less pain and are highly effective over the conventional procedures. As neurostimulation devices provide immediate relief from pain, they are increasingly being used for pain management.

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Based on type, the market is bifurcated into external and implantable/internal neurostimulation devices. Between the two, the implantable/internal category is predicted to exhibit faster growth in the market in the upcoming years. Globally, the neurostimulation device market is currently registering the highest growth in North America and this trend is predicted to continue in the coming years as well. This would be mainly because of the rising incidence of chronic diseases in the region.

Additionally, the soaring number of pain cases and the growing prevalence of neurological diseases in the regional countries are boosting the market growth in this region. The U.S. is currently the biggest and the most lucrative market for neurostimulation devices in North America and the industry is predicted to demonstrate huge growth in the country in the forthcoming years. Furthermore, the market is expected to exhibit rapid advancement in the country in the years to come.

This study covers

• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the market and their service offerings
• Recent strategic developments by the major players in the market