A rise in various complex diseases and medical conditions has led the healthcare sector to push research and development boundaries which have resulted in a new age of disease treatment and one such technology is Implantable Pulse Generator (IPG). It is a micro-electronic medical device which is battery-powered that is inserted in the body where the nervous system is delivered with an electric stimulation which helps in stimulation or blocking of different nerve impulses in the body. It is a promising technology which has been adapted from cardiac rhythm management technology which has helped in curing various medical conditions like hypertension treatment, back pain, obesity and diabetes without a daily dosage of insulin. It is also used in situations where medicines are partially ineffective or have started to show some side effects. On the other hand, it can also be combined with medicine to control the progression of the disease. For instance, implantable pulse generator is primarily used for treating Parkinson’s disease, dystonia and tremor using Deep Brain Stimulation (DBS). The global implantable pulse generator market is expected to witness a growth during the forecast period of 2019-2026 due to rising prevalence of cardiovascular and neurological disorders. Other factors like easy implantation along with enhanced clinical performance, greater awareness in patients and strong reimbursements have led to an increase in market penetration across the world.
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Insights on Global Implantable Pulse Generator Market:
1. By Region• North America
• Asia Pacific
• Latin America
• Rest of the world
Due to the adoption of neuromodulation technology for disease management, the North America region is a major shareholder of the global market which is highly dominated by the U.S. One major reason for this dominance is a strong and intense competition of top-tier manufacturers. It is followed by Europe which possesses a significant share of the market reason being their supportive regulations. Due to an increase in research and development activities in the Asia Pacific market, it is the third major stakeholder in the global market. Rising awareness among end-user segment has resulted in a faster growth rate in the Latin American region. Rest of the world acquires a very small share in this market due to less adoption.2. By Device Placement Type• Spine
The Spine Cord Simulation (SCS) implant technology is to provide mild electrical signals near the spine to the epidural space. It is expected that the SCS market will grow steadily during the forecast period due to a demand for alternative therapies.
3. By Application• Chronic arrhythmia
Chronic heart arrhythmia segment dominates the global market because heart disorder is one of the major disorders experienced by people all across the world due to unhealthy eating habits, lack of exercise, etc. It is expected that this segment will witness a rise in growth rate during the forecast period. Similarly, as diabetes can be managed with an implantable pulse generator without a daily insulin dosage and looking at the prevalence of this disease, it will also gain some traction during the forecast period. Hypertension segment is also a crucial one and is going to witness a rise during the forecast period.
4. By End User• Hospitals
• Ambulatory surgical centres
• Home care settings
Hospital segment dominates the global market currently and is expected to do so during the forecast period due to higher quality infrastructure and provision of new-age facilities which helps them gain more market share than clinics or surgical centres where the infrastructure is limited. But this trend will be seen primarily in developed regions like North America and Europe. Developing economies will require some time in adopting such technologies as it is majorly populated by middle-class people who cannot afford such treatments.
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Competitive Landscape:• Abbott Inc.
• Dextronics Inc.
• Boston Scientific Corp.
• Integer Holding Corp.
Abbott’s Prodigy MRI SCS system provides an effective pain relief using their small IPG which is available with their BurstDR stimulation which is a better pain reliever than the traditional neurostimulation and such a new approach will help them gain more market traction during the forecast period. Boston Scientific Corp’s Precision Spectra IPG has an advantage of having a rechargeable battery which increases the longevity of the product and reducing device replacement surgery cost and this will help them gain a significant market share during the forecast period.
FutureWise Key Takeaways:• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:• To provide with an exhaustive analysis on the global implantable pulse generator market by region, by device placement, by application, by end user
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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