Emerging nations of Latin America, Asia Pacific and Eastern Europe are significant for global neuromodulation devices market
As per a market research report published by Transparency Market Research, the developing nations of Latin America, Asia Pacific and Eastern Europe are becoming increasingly significant in the international neuromodulation devices market. The report suggests that the global neuromodulation devices market would probably reach USD 7072.6 million by the end of 2018, growing at a CAGR of 14.4% over 2012-2018. The global neuromodulation devices market had reported revenue of USD 2758 million in 2011. The major drivers of the global market include expanding base of patients suffering from chronic and lifestyle-induced disorders, presence of unmet medical needs, expanding geriatric population pool, technological advancements, increasing use of neuromodulation devices as an add-on therapy, increasing consumer disbursement on healthcare, availability of funding for clinical studies and rising demand for minimally invasive surgeries. North America had led the overall market in 2011 with a 65% share and recorded revenue of USD 1792.7 million. The Asia Pacific region is expected to represent tremendous growth in the market by growing at a CAGR of more than 15% over the forecasted period. Some of the key players of the global neuromodulation devices market are Medtronic, Uroplasty, Nevro, Cyberonics, Neuronetics, Boston Scientific, St. Jude Medical, Codman and Shurtleff, IntraPace, Cervel Neurotech and Integra.