Vancouver, BC (PRWEB) December 30, 2014
According to a report by iData Research (http://www.idataresearch.com), the leading global authority in medical device market research, the U.S. neurological device market is expected to grow to over $ 5 billion by 2020. This growth will be fuelled by the increase in neurological procedure growth and extensive technological advancement, especially in the area of neuromodulation. The neuromodulation market include spinal cord stimulators (SCSs), vagus nerve stimulators (VNSs), deep brain stimulators (DBSs), gastric electric stimulators (GESs) and sacral nerve stimulators (SNSs).
“The neuromodulation market is the most lucrative sector of the overall neurological devices market and is poised for significant growth as new companies enter, says Dr. Zamanian, CEO of iData Research. Additionally, the market has benefited from increasing research pointing to the efficacy of DBS in the treatment of movement disorders.
The number of patients that have been treated with neuromodulation remains only a small fraction of the overall patient population. Neuromodulation market growth will also be boosted by wider acceptance of neuromodulation products, allowing them to be used on a larger proportion of potential patients.
Medtronic has been leading the total neuromodulation device market and has been the leader in three out of the five markets. Boston Scientific has not been in this market as long as Medtronic; however, the has company launched the most innovative product on the market with the Precision Spectra device which has 32 leads, twice the number of any other competitor on the market. They have superseded Medtronic as the leader in the U.S. market for spinal cord stimulators. Other key and notable competitors include St. Jude Medical and Cyberonics.
For more information
The neuromodulation device market segment is part of the U.S. neurological devices market 2014 report. The global report series on the markets for neurological devices covers the U.S., 15 counties in Europe, Japan, India and China.
The full reports provide a comprehensive analysis including procedure numbers, units sold, market value, forecasts, as well as a detailed competitive market shares and analysis of major players success strategies in each market and segment.
The 2014 U.S neurological devices market report covers cerebrospinal fluid (CSF) shunts, CSF external drainage systems, intracranial pressure monitoring devices, detachable coils, liquid embolics, catheters, guidewires, traditional neurovascular stents and flow diversion stents, spinal cord stimulators, vagus nerve stimulators, sacral nerve stimulators, deep brain stimulators, gastric electric stimulators, neuroendoscopes, stereotactic frames, stereotactic frameless systems, ultrasonic aspirators, aneurysm clips, neurosurgical microscopes and intrathecal pumps.
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