Peripheral Nerve Stimulators Market Size, Share 2022: Emerging Technologies, Sales Revenue, Key Players Analysis, Development Status, Growth Opportunity Assessment and Industry Expansion Strategies

Kenneth Research, in its repository of market research reports, has recently added a report on Peripheral Nerve Stimulators Market  that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Peripheral Nerve Stimulators Market  is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Peripheral Nerve Stimulators Market products.

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Peripheral nerve stimulation is commonly known as PNS, and a common method to treat chronic pain. It includes surgery that places a small electrical device next to one of the peripheral nerves. The global peripheral nerve stimulators market expected to grow significantly over the forecast period. It is anticipated that the market held a value of USD 750.36 million in 2018 and is projected to grow at a CAGR of 7.7% over the forecast period. The global peripheral nerve stimulators market is expected to grow at a significant growth rate. The major factors influencing the growth of the market include; increasing growth in technological advancement in the field of medical devices, rising economic growth, increasing geriatric devices, rising neurological disorders, rising incidence of chronic health problems, and others.

The market is expected to witness a profitable growth owing to the rise in neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy, depression, and essential tremors. As per the statistics of WHO in 2017, around 50 million people all over the world were affected by epilepsy. Additionally, Alzheimer’s Research UK stated that over 46.8 million people worldwide were affected by dementia in 2015 and was expected to reach 50 million patients in 2017. Moreover, this number would double every 20 years, reaching 75 million by 2030 and 131.5 million by 2050.

Furthermore, Alzheimer’s Disease International reported the total worldwide cost of dementia to be USD 818 billion in 2015, which represents 1.09% of the global GDP. Additionally, the cost is likely to rise to USD 1 trillion.These huge prevalence of neurological disorders among the population and rising healthcare expenditure for neurological disorders are driving the growth of the peripheral nerve stimulators market.

Segmentation

The global peripheral nerve stimulators market has been segmented into product, end user, and region.Based on product, the market is segmented into transcutaneous and implantable.Based on end user, the peripheral nerve stimulators market is segmented into hospitals & clinics, ambulatory centers, specialty centers, and others.The global peripheral nerve stimulators market, by region, has been segmented, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The peripheral nerve stimulators market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European peripheral nerve stimulators market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.The peripheral nerve stimulators market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The peripheral nerve stimulators market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key Players

Braun Melsungen AG

Avanos Pain Management

Enteromedics

ElectroCore, Inc.

NeuroSigma, Inc

NeuroMetrix, Inc.

SPR Therapeutics LLC

Stimwave LLC.

SUNMED INC.

Vygon SA

Boston Scientific Corporation

Medline Industries, Inc.

Regional Market Summary

Global Peripheral Nerve Stimulators Market Share (%), by Region, 2018

Geographically, the Americas is anticipated to dominate the global peripheral nerve stimulators market owing to the presence of major players, huge neurological disorders patient population, increasing adoption of advanced technology in the field of medical device, in the region.

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Europe is expected to hold the second largest position in the global peripheral nerve stimulators market.Asia-Pacific is the fastest growing peripheral nerve stimulators market owing to the increasing geriatric population, the presence of a huge patient pool and rapidly improving the technology.The Middle East and Africa market for Peripheral Nerve Stimulators is expected to grow at a steady pace.

Global Peripheral Nerve Stimulators Market, by Product

Transcutaneous

Implantable

Global Peripheral Nerve Stimulators Market, by End User

Hospitals & Clinics

Ambulatory Centers

Specialty Center

Others

Global Peripheral Nerve Stimulators Market, by Region

Americas

North America

US

Canada

South America

Europe

Western Europe

Germany

France

Italy

Spain

UK

Rest of Western Europe

Eastern Europe

Asia-Pacific

Japan

China

India

Australia

South Korea

Rest of Asia-Pacific

Middle East & Africa

Middle East

Africa

Intended Audience

Peripheral nerve stimulators manufacturers

Peripheral nerve stimulators distributors

Hospitals, clinics, and associations

Private insurance companies

Government agencies

Various research and consulting firms

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