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Neuromodulation is the most lucrative sector in the Europe neurological device market, accounting for over half of the revenue. The market is forecasted to continue growing over the next decade, as only a small fraction of the potential patient population is currently being treated with neuromoduation technology and the aging population will contribute to additional growth in the number of patients. Market growth will also be driven by favorable reimbursement and new products and technologies being approved across all neuromodulation sectors.
The largest sector of the neuromodulation market is spinal cord stimulators, and it will continue to produce the largest revenue over the upcoming years. Spinal cord stimulators deliver electrical pulses to nerve fibers in the spinal cord to mask pain signals to the brain. This treatment reduces chronic pain and has been used as treatment for failed back surgery syndrome, complex regional pain syndrome, neuropathic pain, and ischemia-related refractory pain. Spinal cord stimulators currently account for more than half of the neuromodulation market, and an increasing number of product approvals and positive clinical outcomes are driving growth in this market.1 Two of the leading competitors in spinal cord stimulation launched new products in 2015, with Boston Scientific releasing the Precision NoviSpinal Cord Stimulator and St. Jude Medical releasing the ProclaimElite SCS System. Both devices are nonrechargeable, and the latter also offers new burst stimulation.
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More on the neurology market in Europe can be found in our report published by iData entitled Europe Market Report Suite for Neuromodulation, Neurovascular, Neurosurgical and Monitoring Devices 2017, which covers market segments for Cerebrospinal Fluid Management, Intracranial Pressure Monitoring Devices, Detachable Coils, Liquid Embolics, Neurovascular Catheters, Neurovascular Guidewires, Neurovascular Stents, Neuromodulation Devices, Neuroendoscopes, Stereotactics, Ultrasonic Aspirators, Aneurysm Clips, Intrathecal Pumps, and Neurosurgery Robotic Assisted Surgery Systems.
The iData series on the market for neurology devices covers the United States, China, India, Japan and 15 Countries in Europe. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. Register online or email us at [email protected] for an Europe Market Report Suite for Neuromodulation, Neurovascular, Neurosurgical and Monitoring Devices 2017 brochure and synopsis.