Dublin, Oct. 30, 2013 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/rqc6pg/global) has announced the addition of the "Global Neurostimulation Devices Market 2012-2016" report to their offering.
Analysts forecast the Global Neurostimulation Devices market to grow at a CAGR of 15.3 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing prevalence of neurological disorders. The Global Neurostimulation Devices market has also been witnessing an increasing demand for minimally invasive procedures to treat neurological disorders. However, the availability of alternative drug therapy could pose a challenge to the growth of this market.
The key vendors dominating this space are Medtronic Inc., St. Jude Medical Inc., Boston Scientific Corp., and Cyberonics Inc.
The other vendors mentioned in the report are Afferent Corp., Cyberkinetics Neurotechnology Systems Inc., Synapse Biomedical Inc., SPR Therapeutics LLC, NeuroVista Corp., and Neuros Medical Inc.
TechNavio recognizes the following companies as the key players in the Global Neurostimulation Devices Market: Medtronic Inc., St. Jude Medical Inc., Boston Scientific Corp., and Cyberonics Inc.
Commenting on the report, an analyst from the healthcare team said:''An increasing demand for minimally invasive devices has been noticed among members of the rapidly aging population across the world, and this is expected to spark the growth of the Global Neurostimulation Devices market. This is because minimally invasive surgery causes less pain, reduces the duration of the recovery process, causes minimal injuries, has a low risk of infection, and minimizes bleeding. Moreover, less invasive methods are cost efficient when compared to invasive methods, and this is expected to increase the demand for them in the near future. This trend will have a positive impact on the growth of the market.''
According to the report, one of the major factors driving the market is the growth of the patient population in terms of epilepsy, depression, stroke, anxiety disorders, and Parkinson's disease, which increases the demand for neurostimulation devices as neurostimulation is considered to be a more effective and safer therapy.
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Source:Research and Markets