Neuromodulation Devices Market to Showcase 14.4% CAGR From 2018: Transparency Market Research

ALBANY, New York, November 17, 2015 /PRNewswire/ --

Transparency Market Research, a U.S. - based market intelligence firm, has recently published a research report on the global neuromodulation devices market. The report is an attempt to present a thorough analysis of the market, including a snapshot of its competitive landscape, key vendor analysis, and inputs and recommendations from industry experts. The research report is titled "Neuromodulation Devices Market - Global Industry Size, Market Share, Trends, Analysis, And Forecast 2012 - 2018".According to statistics provided in the research report, the global neuromodulation devices market is anticipated to touch US$7072.6 million by the end of 2018 along with a progressive growth at a 14.4% CAGR between 2012 and 2018. In 2011, the global market for neuromodulation devices was worth US$2758 million.

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The global market for neuromodulation devices is driven by a variety of factors, such as the rising prevalence of chronic diseases and the presence of unmet medical needs, rising aging population more vulnerable to diseases such as Parkinson's and Alzheimer's, technological advancements, the nature of neuromodulation devices as an add-on therapy, rising global prevalence of lifestyle-induced illnesses (depression and obesity), increasing consumer expenditure on healthcare, rising instances of external funding to conduct clinical studies, and increasing demand for minimally invasive surgeries.

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On the flip side, the rapidly changing technological landscape, easy availability of alternate treatment procedures, side effects and risks associated with the use of neuromodulation devices, and complicated procedures needed for FDA approvals and other government regulations are expected to hamper demand from the neuromodulation devices market in the forecast period.The global neuromodulation devices market has been segmented on the basis of geography into four regions, namely Europe, Asia Pacific, North America, and Rest of the World (ROW). The research report further presents detailed market analysis, size, and forecasts for all the geographical regions. As per the figures provided in the report, in 2011, North America dominated the market with a 65% share, worth US$1792.7 million. The developing economies of Asia Pacific have been responsible for the rising demand for neuromodulation devices and the stellar expected growth of the Asia Pacific market for neuromodulation devices at a CAGR of more than 15% between 2012 and 2018.

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Many developing countries of Latin America, Asia Pacific, and Eastern Europe are becoming increasingly significant in the global neuromodulation devices market. In addition, consolidation of the healthcare industry, medical device manufacture outsourcing, and increasing information regarding the human nervous system are the rising opportunities for companies in the neuromodulation devices industry.

The last section of the reports talks about the prominent companies operating in the industry. The research report on the global neuromodulation devices market has provided a list of key players and new entrants along with their company overview, business strategies, product portfolio, and the recent developments in the industry. The report has also worked on the SWOT analysis of individual companies for a complete understanding of the challenges and threats faced by them. Some of the key players mentioned in the research report are Medtronic, Uroplasty, Nevro, Cyberonics, Neuronetics Inc., Boston Scientific Group, St. Jude Medical, Codman and Shurtleff, IntraPace, Cervel Neurotech Inc., and Integra.

Browse Upcoming Market Research Reports:  

• Neuroprosthetics Market: http://www.transparencymarketresearch.com/neuroprosthetics-market.html

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The geographies covered in this report include:  

• North America
• Europe
• Asia
• Rest of the World.

Other Related Market Research Reports: 

1. Nanomedicine Market: Increased Research Collaborations to Drive Market in Asia Pacific at 14.6% CAGR 

The global nanomedicine market is estimated to expand at a CAGR of 12.3% during the period between 2013 and 2019. The report points out that improvement in technology for nanomedicine has propelled the global nanomedicine market. Rising government support for research and development of nanomedicine, coupled with an increase in investment and healthcare collaborations, is expected to augment the growth of the market during the forecast horizon. High prevalence of chronic diseases and presence of high unmet medical needs will also push the market growth. However, the report notes that the lack of organized regulatory framework and high costs involved in the development of nanomedicine will hinder the growth of the global nanomedicine market during the forecast period. The market has a huge opportunity to grow in the emerging economies along with the identification of new medical applications.

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1. Neurology Devices Market to reach US$13.6 billion in 2019 

The global neurology was valued US$5.0 billion in 2012 and is expected to reach US$13.6 billion in 2019, growing at a CAGR of 15.4%. The key factors contributing to the growth of the global neurology devices market are increasing incidences of neurological disorders such Alzheimer's disease, ischemic stroke, multiple sclerosis, brain cancer, and other such traumas to the brain. Additionally, as a geriatric population is growing, the global neurology devices market is also witnessing a huge encouragement. As most patients are opting for use of neurology devices over use of drugs due to no side effects and better effectiveness. However, poor reimbursement policies, tough taxation policies in U.S. and Europe are few factors that are holding back this market.

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