The US Neurostimulation device market will experience strong growth through 2024, driven primarily by innovation-based expansion of the eligible patient population and growth in sales of replacement units

BURLINGTON, Mass., Nov. 6, 2015 /PRNewswire/ -- Decision Resources Group finds that the neurostimulation device market in the US will grow robustly over the next ten years, driven primarily by a strong uptake of premium-priced devices for initial implants, and an increasing need for replacement devices. Moreover, innovation continues to grow the market by expanding the indications for which patients can be treated by neurostimulation devices, as well as the effectiveness of that treatment.

Other key findings from the Medtech 360 US Neurostimulation Devices 2015 report:

• As the number of patients with neurostimulation devices continues to grow, the need for replacement units will continue to increase. As a result, replacement implant unit sales will surpass initial implant unit sales within the next five years.
• Neurostimulation devices are expensive, and while health care insurance plans provide reimbursement, they frequently do not cover the full price of the device. Even a deductible equal to a small percentage of the device price puts a financial strain on the patient, which deters them from pursuing neurostimulation treatment. As a result, reimbursement continues to limit the neurostimulation device market.

Comments from Decision Resources Group Senior Analyst Beata Blachuta, PhD:

• "The spinal cord stimulation market is particularly dynamic, with a mix of established large competitors and newer smaller entrants driving innovation. Larger competitors like Medtronic and Boston Scientific are leveraging a long-standing presence in the market and strong relationships with doctors and purchasing departments to continue to drive unit sales. On the other hand, smaller competitors like Stimwave and its recently introduced Freedom spinal cord stimulation system – the first with a non-implantable power source – are driving innovation."
• "While physicians are excited to try new neurostimulation devices and initial uptake is quite rapid, long term adoption and brand loyalty are based on the effectiveness of the device, so quick initial uptake does not guarantee strong long-term sales."

For more information on purchasing this report, please email [email protected].

About Decision Resources Group
Decision Resources Group offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 900 employees across 14 global locations. DRG provides the pharmaceutical, biotech, medical device, financial services and payer industries with the tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. DecisionResourcesGroup.com.

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Theresa Masnik                                                                         
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SOURCE Decision Resources Group

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