Neurostimulation Devices Market: Industry Expert View on Future Growth and Market Trends

 Neurostimulation devices attach electrodes to the brain, spinal cord, or peripheral nerves. Each device can collect and store data over time, and the nature of this data reflects the different therapeutic strategies used. Neuromodulation uses electrical or magnetic pulsations to influence or stimulate the central or peripheral pain pathways. This procedure aims to control the pain systems to minimize pain levels. Neurostimulation devices can be used safely and effectively to treat drug-resistant epilepsy. Rapid advances in neurostimulation technology relieve the patients affected by neurological and psychiatric disorders. Neurostimulation therapies include invasive and noninvasive approaches in which electrical stimulation drives neuronal function within a circuit. The growing incidences of neurological diseases and increasing cases of spinal cord injury are driving the neurostimulation devices market size. However, the lack of expert professionals hinders the neurostimulation devices market growth.

Market leaders operating in the market have undertaken various organic growth strategies in the neurostimulation devices market. The neurostimulation devices market majorly consists of the players Medtronic Plc; Boston Scientific Corp; Abbott Laboratories; Nevro Corp; LivaNova Plc; Synapse Biomedical Inc.; Nalu Medical, Inc.; ElectroCore Inc.; MicroTransponder Inc; and Mainstay Medical. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.

Below is the list of the growth strategies done by the players operating in the neurostimulation devices market:

Medtronic Plc: Medtronic plc received CE Mark approval for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS). It is the first Medtronic SCS device to offer a closed-loop feature that senses each person's unique biological signals and adjusts stimulation moment to moment, as needed, to keep therapy in harmony with the motions of daily life.

Abbott Laboratories: Abbott announced the U.S. Food and Drug Administration (FDA) approval of its new Proclaim Plus spinal cord stimulation (SCS) system featuring FlexBurst360 therapy. The next generation of Abbott's proprietary BurstDR stimulation, FlexBurst360 therapy offers pain coverage across six areas of the trunk and/or limbs. It enables programming that can be adjusted as a person's therapeutic needs evolve.

Mainstay Medical: Mainstay Medical Holdings plc announced the completion of enrollment in its RESTORE randomized clinical study of ReActiv8 for the treatment of intractable chronic low back pain. The study is designed to provide a direct comparison to optimized medical management to test the hypothesis

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