Product Code: ETC4470865 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India neurostimulation market import shipments experienced a strong compound annual growth rate of 7.7% from 2020 to 2024. However, there was a notable decline in growth rate between 2023 and 2024, indicating a temporary slowdown in market expansion. Overall, the market trend suggests a period of stabilization following earlier growth momentum.
The India Neurostimulation market is an emerging segment within the medical device industry, offering innovative solutions for the treatment of various neurological disorders and chronic pain conditions. Neurostimulation devices, including spinal cord and deep brain stimulators, have gained prominence in addressing conditions like Parkinson`s disease, epilepsy, and chronic pain. The market`s growth is driven by the rising prevalence of neurological disorders and the demand for non-pharmacological treatment options. As medical technology advances and the awareness of neurostimulation therapy increases, this market is expected to contribute significantly to improved patient outcomes in India.
The neurostimulation market is primarily driven by the rising incidence of neurological disorders, chronic pain, and the demand for non-pharmacological treatment options. Advances in neurostimulation technology, coupled with a growing aging population, contribute to market growth. The willingness of patients to explore alternative treatments and the inclusion of neurostimulation in healthcare insurance policies are also significant drivers.
The India neurostimulation market faces challenges related to patient awareness, affordability, and regulatory compliance. Many individuals with neurological conditions are unaware of the potential benefits of neurostimulation therapies, and patient education is crucial. The cost of neurostimulation devices and ongoing therapy can be a barrier, as healthcare coverage for these treatments is limited. Regulatory approvals, safety standards, and training for healthcare professionals in the use of neurostimulation devices are ongoing concerns in this market.
The neurostimulation market in India was impacted by the COVID-19 pandemic, as non-essential medical procedures, including certain neurostimulation treatments, were deferred to focus on the pandemic response. This led to a temporary reduction in demand for neurostimulation procedures. However, the market adapted by emphasizing remote programming and patient monitoring solutions to minimize in-person visits. As the healthcare sector adapted to the evolving situation, the neurostimulation market gradually regained momentum.
For neurostimulation in India, major players include Medtronic, Boston Scientific, Abbott Laboratories, and LivaNova.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Neurostimulation Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Neurostimulation Market Revenues & Volume, 2021 & 2031F |
3.3 India Neurostimulation Market - Industry Life Cycle |
3.4 India Neurostimulation Market - Porter's Five Forces |
3.5 India Neurostimulation Market Revenues & Volume Share, By Product, 2021 & 2031F |
3.6 India Neurostimulation Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Neurostimulation Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing prevalence of neurological disorders in India |
4.2.2 Growing awareness about neurostimulation therapies |
4.2.3 Technological advancements in neurostimulation devices |
4.3 Market Restraints |
4.3.1 High cost associated with neurostimulation procedures |
4.3.2 Limited access to neurostimulation treatments in rural areas |
4.3.3 Lack of skilled healthcare professionals specializing in neurostimulation |
5 India Neurostimulation Market Trends |
6 India Neurostimulation Market, By Types |
6.1 India Neurostimulation Market, By Product |
6.1.1 Overview and Analysis |
6.1.2 India Neurostimulation Market Revenues & Volume, By Product, 2021-2031F |
6.1.3 India Neurostimulation Market Revenues & Volume, By Spinal Cord Stimulator, 2021-2031F |
6.1.4 India Neurostimulation Market Revenues & Volume, By Deep Brain Stimulator, 2021-2031F |
6.1.5 India Neurostimulation Market Revenues & Volume, By Sacral Nerve Stimulator, 2021-2031F |
6.1.6 India Neurostimulation Market Revenues & Volume, By Vagus Nerve Stimulator, 2021-2031F |
6.1.7 India Neurostimulation Market Revenues & Volume, By Gastric Electric Stimulator, 2021-2031F |
6.2 India Neurostimulation Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Neurostimulation Market Revenues & Volume, By Pain Management, 2021-2031F |
6.2.3 India Neurostimulation Market Revenues & Volume, By Epilepsy, 2021-2031F |
6.2.4 India Neurostimulation Market Revenues & Volume, By Essential Tremor, 2021-2031F |
6.2.5 India Neurostimulation Market Revenues & Volume, By Urinary and Fecal Incontinence, 2021-2031F |
6.2.6 India Neurostimulation Market Revenues & Volume, By Depression, 2021-2031F |
6.2.7 India Neurostimulation Market Revenues & Volume, By Dystonia, 2021-2031F |
7 India Neurostimulation Market Import-Export Trade Statistics |
7.1 India Neurostimulation Market Export to Major Countries |
7.2 India Neurostimulation Market Imports from Major Countries |
8 India Neurostimulation Market Key Performance Indicators |
8.1 Number of neurostimulation procedures performed annually in India |
8.2 Adoption rate of new neurostimulation technologies in the market |
8.3 Patient satisfaction rates with neurostimulation treatments |
8.4 Number of specialized neurostimulation clinics or centers in India |
8.5 Research and development investment in neurostimulation technologies in India |
9 India Neurostimulation Market - Opportunity Assessment |
9.1 India Neurostimulation Market Opportunity Assessment, By Product, 2021 & 2031F |
9.2 India Neurostimulation Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Neurostimulation Market - Competitive Landscape |
10.1 India Neurostimulation Market Revenue Share, By Companies, 2024 |
10.2 India Neurostimulation Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |