According to the research by Triton, the North America neurostimulation device market is expected to grow significantly in terms of revenue at a CAGR of 9.95% for the forecasting years 2019-2027.
Countries that have been covered in the neurostimulation device market in North America are:
• The United States
North America is expected to be the largest market in terms of revenue during the forecasted period. The increased use of neurostimulation devices for treating various diseases such as chronic pain, Parkinson’s disease, epilepsy, and depression has been driving the market growth. In the US, the availability of reimbursement by Medicare boosting the adoption of neurostimulation devices. Along with that, neurostimulation device manufacturing companies are developing innovative products to expand their portfolio and increase the market share of the country.
Moreover, the rapid growth in the population of older people in the US has resulted in the adoption of neurostimulation devices. For instance, according to the Alzheimer’s Association, the number of individuals aged 65 and above suffering from Alzheimer’s disease is predicted to reach around 14 million. This would create massive growth opportunities for the growth of the neurostimulation device market. Furthermore, significant investments made by the government in research & development activities are fueling the neurostimulation device market in the US. The country is estimated to hold the largest market share in the North American region over the forecasted period.
Neuronetics Inc. is a leading medical device company that develops non-invasive therapies for neurological and psychiatric disorders. The company provides the NeuroStar TMS Therapy system, which is used to treat patients suffering from a depressive disorder. The company also offers services such as clinical training, practice support, patient education, and reimbursement support. Neuronetics was founded in 2003 and headquartered in Pennsylvania.
The key players engaged in the neurostimulation device market are Aleva Neurotherapeutics SA, Boston Scientific Corporation, Cogentix Medical, Inc., Cyberonics, Inc., DePuy Synthes Companies, Dr. Langer Medical GmbH, Ectron Limited, Ekso Bionics Holding Inc., Helius Medical Technologies, Hocoma AG, Medtronic plc, Neuronetics, Inc., Nevro Corp., St. Jude Medical, Inc. (Acquired By Abbott Laboratories) and The Magstim Company Limited.
Keywords: Neuronsimulation, Market Research, NorthAmericanmarket
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