Implantable Pulse Generators Market is anticipated to gain market growth in the forecast period of 2020 to 2027. Qualiket Research analyses the market to grow at a CAGR of 9.78% in the above-mentioned forecast period.
Implantable pulse generator is defined as a device which is battery-powered and when implanted in the body, it electrically stimulates the nervous system so that different nerve impulses in the body are either stimulated or blocked. This technology is used for various medical conditions such as reducing back pain, hypertension, curing diabetes to stop dosage of insulin taken on a daily basis & obesity. Also, these pulse generators can used in cases where medicines are either showing some side effects or are completely ineffective.
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Players operating in the Point of Care Diagnostics Market are:
- Boston Scientific Corporation
- Nevro Corporation
- Integer Holdings Corporation
- Synapse Biomedical
- Jude Medical
The increase in rate of chronic diseases all over the globe drives the implantable pulse generators market.
The increase in burden of chronic diseases like hypertension, cardiovascular diseases, and diabetes are the primary reasons for deaths across the globe. For instance, as per the information provided by the WHO (World health Organization) around 17.9 million people die due to cardiovascular diseases across the globe, each year. Furthermore, the increase in geriatric population across the globe will positively influence the market growth. Moreover, government and profit/non-profit organizations are investing immensely in the development of smart implantable pulse generator to augment their position in the market.
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In January 2021, Boston Scientific Corporation had received approval from U.S. Food and Drug Administration for its Genus™ Deep Brain Stimulation System. The portfolio is approved for use in MRI (Magnetic Resonance Imaging) which comprises a family of rechargeable & non-rechargeable, Bluetooth-enabled, implantable pulse generators (IPGs) that power Cartesia Directional Leads, used to provide optimal symptom relief.
Impact of COVID-19 on Market
The increase in COVID-19 cases is expected to significantly affect the healthcare industry. For instance, according to the American Heart Association, Circulation Journal, 2020, so far COVID-19 had affected around 185 countries and more than 30,00,000 patients across the globe. Among patients with COVID-19, there is a high prevalence of Hypertension, diabetes, and Cardiac diseases.
There are several significant players in the Implantable Pulse Generator Companies such as Boston Scientific Corporation, Abbott, Medtronic, Nevro Corporation, Dextronix, Inc., St. Jude Medical, Inc., Integer Holdings Corporation, NeuroSigma, Inc., Cyberonics, Inc., Synapse Biomedical, Inc., etc. Most of these companies are investing heavily in R&D activities that can lend an added competitive edge to them. Also, they are also undertaking strategic moves and investing in merger, acquisition and collaborations to gain an expanded share in the Global Implantable Pulse Generator Market.
The Global Implantable Pulse Generator Market is segmented into North America, Asia-Pacific, Europe, Middle-East & Africa and Latin America. The increase in adoption of technological development in North America is expected to gain a huge momentum of growth. Also, APAC is expected to grow at a fastest rate during the analysis time-frame.
By Product Type
- Single Lumen
- Double Lumen
- Chronic Arrhythmia
By End User
- Hospitals and Clinics
- Outpatient Centers
- Homecare Settings
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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