The Global Peripheral Nerve Stimulators Market to Witness Upsurge in Growth at CAGR of ~7% by 2027 | DelveInsight

0
20

New York, USA, Jan. 19, 2023 (GLOBE NEWSWIRE) — The Global Peripheral Nerve Stimulators Market to Witness Upsurge in Growth at CAGR of ~7% by 2027 | DelveInsight

The global peripheral nerve stimulators market is expected to grow due to the factors such as an increase in the number of patients suffering from nerve injuries, effective PNS technologies, growing public awareness of PNS, chronic pain management therapies, an increase in the prevalence of disease that can cause pain, an increase in the geriatric population, an increase in the obese population, and an increase in public awareness of PNS.

DelveInsight’s Peripheral Nerve Stimulators Market Insights report provides the current and forecast market analysis, individual leading peripheral nerve stimulators companies’ market shares, challenges, peripheral nerve stimulators market drivers, barriers, and trends, and key peripheral nerve stimulators companies in the market.

Key Takeaways from the Peripheral Nerve Stimulators Market Report

  • As per DelveInsight estimates, North America is anticipated to dominate the global peripheral nerve stimulators market during the forecast period. 
  • Notable peripheral nerve stimulators companies such as B. Braun Melsungen AG, Bioventus, AVNS, Nalu Medical Inc, Stimwave LLC, Vygon, Medilogix, and several others are currently operating in the peripheral nerve stimulators market.
  • In June 2022, NeuraLace Medical, the developer and manufacturer of the Axon® Therapy device, announced that the American Medical Association (AMA) approved new Current Procedural Terminology (CPT) codes for Transcutaneous Magnetic Nerve Stimulation, a therapy that can assist clinicians in treating patients with chronic neuropathic pain.
  • In February 2022, Nalu Medical, Inc. focused on innovative and minimally invasive solutions for chronic neuropathic pain and closed a $104m equity financing.
  • In October 2021, SPR Therapeutics ran up $37M VC funding for Sprint pain relief device.
  • In March 2021, Bioventus, Inc. acquired Bioness, Inc., a global leader in neuromodulation and rehabilitation medical devices, through its innovative PNS therapy and premium rehabilitation solutions.

To read more about the latest highlights related to the peripheral nerve stimulators market, get a snapshot of the key highlights entailed in the Global Peripheral Nerve Stimulators Market Report

Peripheral Nerve Stimulators Overview

Peripheral Nerve Stimulators are medical devices that help patients suffering from nerve injury, post-surgical pain, chest wall pain, and peripheral neuralgia. They deliver electric current to the painful area. A stimulator lead is placed along with nerves that are linked to the wearable stimulator, and symptoms are evaluated to determine the best procedure for the patient.

The device works by interfering with pain signals traveling from your nerves to your brain. As a result, the patients are no longer in pain and can go about their daily lives. This device is popular among chronic pain patients. Thus the demand for peripheral nerve stimulators is rapidly increasing.

Peripheral Nerve Stimulators Market Insights

North America is expected to account for the largest share of the global peripheral nerve stimulators market out of all regions. This dominance is due to the factors such as the increasing prevalence of chronic pain, the approval of PNS, device awareness, and an increase in the geriatric population. 

Furthermore, technological advancements and the active participation of the leading players are also boosting the peripheral nerve stimulators market growth. For instance, in June 2022, NeuraLace Medical, the developer and manufacturer of the Axon® Therapy device, announced that the American Medical Association (AMA) approved new Current Procedural Terminology (CPT) codes for Transcutaneous Magnetic Nerve Stimulation, a therapy that can assist clinicians in treating patients with chronic neuropathic pain.

To know more about why North America is leading the market growth in the peripheral nerve stimulators market, get a snapshot of the Peripheral Nerve Stimulators Market Outlook 

Peripheral Nerve Stimulators Market Dynamics

The rising prevalence of chronic pain is one of the key factors driving peripheral nerve stimulators market growth. Chronic pain is one of the most common and serious disorders in the United States and worldwide. Lower back pain (LBP) has been the leading cause of long-term pain since 1990 and continues to be a global health concern. Moreover, the increasing geriatric population, rising obese population, and growing public awareness about PNS will also bolster the peripheral nerve stimulators market growth. 

However, there are some constraints to peripheral nerve stimulators market growth, such as the difficulty of removing the PNS lead at times, procedure-related risks such as bleeding, infection, nausea, dizziness, headache, pain after surgery, and the possibility of the PNS interfering with other implantable devices. Furthermore, the high cost of these devices is a barrier to peripheral nerve stimulators market growth.

Additionally, during the COVID-19 pandemic, the peripheral nerve stimulators market experienced a slight decrease in product demand. Despite this, many studies have found it to be useful in monitoring chronic pain caused by COVID-19 infection. However, due to a lack of substantial data to support the claim, PNS devices were not widely used during the COVID era. Furthermore, the PNS devices require surgery to be implanted in the patient’s body, and because most healthcare facilities were devoted to caring for COVID-19 patients, the number of outpatient surgeries decreased significantly. However, with mass vaccination and the relaxation of lockdown restrictions, the market for many devices, including PNS devices, has begun to catch up slowly and is expected to grow further in the future.

Get a sneak peek at the peripheral nerve stimulators market dynamics @ Peripheral Nerve Stimulators Market Dynamics Analysis

Report Metrics Details
Coverage Global
Study Period 2019–2027
Base Year 2021
Peripheral Nerve Stimulators Market CAGR ~7%
Key Peripheral Nerve Stimulators Companies B. Braun Melsungen AG, Bioventus, AVNS, Nalu Medical Inc, Stimwave LLC, Vygon, Medilogix, among others

Peripheral Nerve Stimulators Market Assessment

  • Peripheral Nerve Stimulators Market Segmentation
    • Market Segmentation By Product: Implant and Percutaneous
    • Market Segmentation By End User: Hospitals, Ambulatory Surgical Centers, and Others
    • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the peripheral nerve stimulators market are set to emerge as the trendsetter explore @ Peripheral Nerve Stimulators Companies 

Table of Contents 

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Key Factors Analysis
5 Porter’s Five Forces Analysis
6 COVID-19 Impact Analysis on Peripheral Nerve Stimulators Market
7 Peripheral Nerve Stimulators Market Layout
8 Global Company Share Analysis – Key 3-5 Companies
9 Peripheral Nerve Stimulators Market Company and Product Profiles
10 Project Approach
11 About DelveInsight

Interested in knowing the peripheral nerve stimulators market by 2027? Click to get a snapshot of the Peripheral Nerve Stimulators Market Trends

Related Reports

Vagus Nerve Stimulators Market

Vagus Nerve Stimulators Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key vagus nerve stimulators companies, including LivaNova, Soterix Medical Inc, MicroTransponder Inc, Parasym Ltd, electroCore, tVNS Technologies GmbH, among others.

Sacral Nerve Stimulator Devices Market

Sacral Nerve Stimulator Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key sacral nerve stimulator companies, including Medtronic Plc, Boston Scientific Corporation, St. Jude Medical, Cyberonics, Neuropace, among others. 

Neuromodulation Devices Market

Neuromodulation Devices Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key neuromodulation devices companies, including Medtronic, Boston Scientific Corporation, Abbott, LivaNova, NeuroSigma, NEVRO CORP., among others.

Neuroprosthetics Market

Neuroprosthetics Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key neuroprosthetics companies, including Medtronic, Cochlear Ltd., Abbott, Boston Scientific Corporation, among others.

Neurostimulation Devices Market

Neurostimulation Devices Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key neurostimulation devices companies, including Medtronic PLC, Cyberonics, Boston Scientific Corporation, Abbott Laboratories, among others.

Deep Brain Stimulation Devices Market

Deep Brain Stimulation Devices Market Insight, Competitive Landscape, and Market Forecast – 2027 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key deep brain stimulation devices companies, including Abbott, Medtronic, Boston Scientific Corporation, ALEVA NEUROTHERAPEUTICS SA., Newronika S.p.A., among others. 

Other Trending Reports

Treatment Resistant Depression Market | Advanced Renal Cell Carcinoma Market | Brain Cancer Market | Centronuclear Myopathy Market | Head And Neck Squamous Cell Carcinoma Market | Acquired Immunodeficiency Syndrome Market | Acute Intermittent Porphyria Market | Neurovascular Devices Market | Defibrillators Market | Ventricular Hypertrophy Market | Urolithiasis Market | Alopecia Areata Market | Autonomic Dysfunction Market | Acute Ischemic Stroke Ais Market | Adenoid Cystic Carcinoma Market | Aspergillosis Market | Biliary Atresia Market | Biliary Tumor Market | Chronic Inducible Urticaria Market | Chronic Insomnia Market | Critical Limb Ischemia Market | Endometriosis Pain Market | Generalized Anxiety Disorder Gad Market | Hallux Valgus Market | Hemophilia B Market | Immunologic Deficiency Syndrome Market | Neuroblastoma Market | Neuromodulation Devices Market | Neurovascular Thrombectomy Devices Market | Osteosarcoma Market | Pemphigus Vulgaris Market | Progressive Familial Intrahepatic Cholestasis Market | Pruritus Market | Radiation Toxicity Market | Pulmonary Hypertension Associated With Interstitial Lung Disease Market | Cluster Headaches Market | Foot And Ankle Devices Market | Intravenous Immunoglobulin Market | Bile Duct Neoplasm Market | Blood Glucose Monitoring Systems Market | Rett Syndrome Market | Tissue Heart Valves Market | Cardiac Biomarkers Testing Devices Market | Subscription Healthcare | Hepatorenal Syndrome Market | Central Venous Catheters Market | Continuous Renal Replacement Therapy Machines Market | Nonalcoholic Steatohepatitis Market | Necrotizing Enterocolitis Market | Cardiac Amyloidosis Market | Artificial Iris Market | Aortic Aneurysm Stent Grafts Market | Polypoidal Choroidal Vasculopathy Market | Adrenal Crisis Market | Hearing Implants Market | Image Guided Surgery Devices Market | Angioedema Market | Bladder Cancer Market 

Related Healthcare Blogs 

Vagus Nerve Stimulation Devices Market Outlook

Bipolar Depression Pipeline Therapies

Deep Brain Stimulation Devices Market

Related Healthcare Services

Healthcare Consulting

Healthcare Competitive Intelligence Services

Healthcare Asset Prioritization Services

About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.