Enhancement of geriatric population coupled with rise in neurological disorders are anticipated to expand the growth of the MRI Safe Neurostimulation Systems market
The MRI Safe Neurostimulation Systems market can be segmented on the basis of product type, application, end user and region. On the basis of product type, it is sub-segmented into transcutaneous neurostimulators & implantable neurostimulators. On the basis of application, it is sub-segmented into sensory nerve stimulation, spinal cord stimulation, intracranial stimulation (Deep Brain stimulation & motor cortex stimulation. On the basis of end user, it is sub-segmented into hospitals, ambulatory surgical centers, diagnostic labs & others. The intracranial stimulation is expected to lead the application segment during the forecast period on account of rising prevalence of disorders associated with neurological system. The MRI safe neurostimulation systems market industries across the globe is focusing on the effective management of chronic pain, Alzheimer’s disease and many more. This in turn is anticipated to be the major reason for the growth of the market during the forecast period.
The market is anticipated to expand at a significant growth rate during 2019-2027. The growing prevalence of various types of neurological diseases is the major factor which is anticipated to bolster the growth of the market during the forecast period.
By region, global MRI safe neurostimulation systems market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to lead the global MRI safe neurostimulation systems market during the forecast period. United States is expected to have the largest market share on the back of rapidly changing lifestyle of people. Europe is anticipated to hold the second largest market share for the market during the forecast period on account of rising expenditure in the field of healthcare and biotechnology. The presence of these factors are expected to grow the market during the forecast period.
Enhancement of geriatric population coupled with rise in neurological disorders are anticipated to expand the growth of the market
Rising geriatric population across the globe is directly related to the increase in various types of neurological diseases. Geriatric population is more prone to various types of neurological diseases and chronic pain. Henceforth, the enhancement of the geriatric population worldwide is anticipated to grow the global MRI safe neurostimulation market.
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However, the implants of MRI safe neurostimulation system is very expensive. Patients in low income and middle income countries find it difficult to purchase it. This expensive price tag associated with the implants are expected to hinder the market during the forecast period.
The report titled “MRI Safe Neurostimulation System Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the global MRI safe neurostimulation market in terms of market segmentation by product type, by application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the global MRI safe neurostimulation system market which includes company profiling of key companies such as Boston Scientific, Sorin, Cyberonics, Inc., AADCO Medical Inc., St. Jude Medical, Biotronik, Medtronic, Nevro Corporation, Neuronetics, Codman & Shurtleff’s. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global MRI safe neurostimulation systems market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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