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Underdeveloped Segments Hold Immense Potential for Growth in the U.S. Neurostimulation Market - In spite of numerous challenges, neurostimulators have developed rapidly due to their acknowledged clinical efficacy and positive patient response
Underdeveloped Segments Hold Immense Potential for Growth in the U.S. Neurostimulation Market

 

NewswireToday - /newswire/ - Palo Alto, CA, United States, 2008/03/17 - In spite of numerous challenges, neurostimulators have developed rapidly due to their acknowledged clinical efficacy and positive patient response.

   
 
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With an increasing aging population and dissatisfaction with current therapies, the demand for alternative treatments represents the greatest driver for the growth of neurostimulation. Ultimately, manufacturers that pay top dollar for compelling research and quality development will reap the rewards of a market poised to become a multi-billion dollar market by 2013.

New analysis from Frost & Sullivan (medicaldevices.frost.com), U.S. Neurostimulation Devices Market, finds that the market earned revenues of $1.1 billion in 2006 and estimates this to reach $3.3 billion by 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the U.S. Neurostimulation Devices Market, then send an email to Melina Trevino, Corporate Communications, at mtrevino_pr[.]frost.com, with your full name, company name, title, telephone number, city, state, country and e-mail address. Upon receipt of the above information, an overview will be sent to you by email.

"A multitude of clinical indications and a highly under penetrated patient population will drive growth in the neurostimulation market," notes Frost & Sullivan Research Analyst Brandon Fukuda. "By 2011, several companies in different segments expect to be ready for product release and market entry, which will have a dramatic impact upon the overall industry."

Neurostimulation has grown from an emerging technology to a billion-dollar industry within the last decade. As an increasing number of patients become displeased with the ineffective aid and harmful side effects of pharmaceuticals and surgical procedures, neurostimulation offers therapy that supports, and may eventually replace, current modes of treatment.

A limited end-user base as well as significant patent protection on neurostimulation technology makes market penetration difficult. In addition, extensive research and substantial capital required to complete product development have made the market highly underdeveloped.

"Regulatory approval and adequate insurance reimbursement remain the most significant challenges for this industry," explains Fukuda. "The high costs of the implantable device and prerequisite surgery may limit the potential of neurostimulators to sustain a business."

In order to ensure a successful entry into this market, manufacturers have taken an acute awareness of the device's platform and potential. Providing a unique technology supported by compelling research and requirements such as food and drug administration (FDA) approval and insurance reimbursement will eventually assure physician adoption.

U.S. Neurostimulation Devices Market is part of the Medical Devices Growth Partnership Service program, which also includes research in the following markets: Implantable cardioverter defibrillators, drug eluting stents, atrial fibrillation, orthopedic trauma fixation, and spinal technologies. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting, and Career Best Practices empower clients to create a growth focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 30 offices on six continents.

U.S. Neurostimulation Devices Market - F848

 
 
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Underdeveloped Segments Hold Immense Potential for Growth in the U.S. Neurostimulation Market

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Frost & Sullivan |
Publisher Contact: Melina Trevino 
210.247.2440 melina.trevino[.]frost.com
 
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