Here are seven observations:
1. An increasing prevalence of chronic diseases, unhealthy lifestyles and an aging population will boost the market’s growth.
2. Risks associated with neurostimulation devices and harsh approval regulations will serve as obstacles to market growth.
3. North America will dominate the market, due to solid healthcare infrastructure and prevalence of diseases like epilepsy and Parkinson’s disease, among other factors.
4. The Asia-Pacific region will witness the most rapid market growth, because of economic developments, increasing healthcare expenditures and unmet medical needs, among other factors.
5. Spinal cord stimulation devices captured the largest market share in 2015, with 54 percent.
6. Neurowave Medical Technologies’ minimally invasive transdermal neuromodulation technology as well as Medtronic’s MRI-safety incorporated devices will boost market growth.
7. Medtronic, St. Jude Medical, Boston Scientific, Cyberonics and Nevro dominate the space.
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