Global Neurostimulation Devices
Market Report
2024
Neurostimulation devices market was valued at USD 5.81 billion in 2022 and is projected to reach USD USD 16.23 billion by 2030, registering a CAGR of 12.5% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Neurostimulation Devices Market Report 2024.
The global neurostimulation devices market was valued at USD 5.81 billion in 2022 and is projected to reach USD USD 16.23 billion by 2030, registering a CAGR of 12.5% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Neurostimulation Devices Market Sales Revenue 2030 | $ 15.19 Billion |
Global Neurostimulation Devices Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 13.33% |
Market Split by Type |
|
Market Split by Application |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Key Qualitative Information Covered |
|
Report scope is customizable as we have a huge database of Neurostimulation Devices industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Neurostimulation Devices Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Neurostimulation is a method that makes use of an implantable medical device to modulate and change neural activities for therapeutic purposes. Equipment used for neuromodulation is called neurostimulators and the process is termed neurostimulation. Neurological disorders such as Parkinson’s disease, epilepsy, Alzheimer’s disease, and cerebrovascular diseases affect the central nervous system (CNS) and peripheral nervous system (PNS) of the human body. Neurostimulation devices play an important role to manage these neurological disorders. The electrodes in the device produce moderate electrical impulses to support the patients' neurological activity. These devices can be external or implanted. Neurostimulation devices are directly placed within the brain, PNS, or CNS. Spinal cord stimulators, vagus nerve stimulators, sacral nerve stimulators, and deep brain stimulators are some of the neurostimulation devices used in treating patients with various diseases such as hearing loss, urinary incontinence, pain management, and epilepsy.
An increase in the number of neurological disorders
An increase in the number of neurological disorders such as migraine and epilepsy along with the rising medical demand in these disease segments has driven the need for neurostimulation devices. This is attributed to the rising geriatric population as they are more susceptible to neurological disorders, such as Epilepsy, Parkinson’s disease, Alzheimer’s disease, and chronic pain propels the growth of the market. Furthermore, an increase in research and development funding to incorporate the new technology which involves the placement of a fully implantable, reversible system in neurosurgery equipment is anticipated to boost the demand for the global neurostimulation devices market.
Restraining Factor:
Side effects such as allergic reactions and prickling or tingling of the skin due to the implantation of neurostimulation devices into the body are expected to restrain the growth of the market. In addition to affecting physical and mental health, neurostimulation devices have also been associated with mood swings, temporary blindness, skin sores from electrode implantation, and poor cognition and memory impeding the growth of the target market.
Current Trends on Neurostimulation Devices:
The emergence of new technologies offers better and highly efficient treatment. In neurostimulation devices, technological development such as the advancement of devices that are compatible with magnetic resonance and other magnetic and electronic devices is expected to further provide the new opportunity to propel the market growth during the forecast period, from 2023 to 2030. Further, companies have created unique technologies and devices, such as neurostimulation equipment, to enhance the overall health of the patient with neurological disorders by solving unmet medical requirements.
The outbreak of COVID-19 has witnessed a significant impact on the neurostimulation devices market growth. During the pandemic, governments across several states-imposed lockdowns which have stabilized every sector’s activity due to decentralization and social distancing regulations. As a result, the disruptions in the supply chain, low demand from end-user industries, and postponements of surgical services by hospitals and clinics impacted the neurostimulation devices negatively. Nonetheless, post-pandemic, due to the restart of clinical practice and vaccination for COVID-19 the demand for neurostimulation devices has increased which is expected to drive the growth of the global neurostimulation devices market.
We have various report editions of Neurostimulation Devices Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
January 2022,
Nevro Corp's Senza Spinal Cord Stimulation (SCS) System for the treatment of Non-Surgical Refractory Back Pain (NSRBP) has gained approval from the US Food and Drug Administration for expanded labeling.
January 2022,
Medtronic received U.S. Food and Drug Administration approval for its Intellis rechargeable neurostimulator and Vanta recharge-free neurostimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy (DPN).
February 2022,
Medtronic received FDA approval for its Interstim X system, a next-generation personalized sacral nerve stimulation therapy for bladder and bowel control.
Top Companies Market Share in Neurostimulation Devices Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
North America held the largest revenue market share of 61.2%, in 2022:
In 2022, North America dominated the neurostimulation devices with the largest market share of 61.2% and continue its dominance in the upcoming year. This growth is attributed to the advancement of innovative neurostimulators and support by health authorities for new techniques in neurostimulators. In addition, the increase in the prevalence of neurological disorders, and the rise in the geriatric population, are other factors fueling the market growth in the North American region.
Asia Pacific neurostimulation devices market is projected to witness the fastest growth during the forecast period, from 2023 to 2030. The major factors for growth in this region are the expanding public and private initiatives to promote mental health awareness. In addition, rising healthcare costs in developing nations like China and India to address urgent medical requirements are anticipated to propel market growth in the Asia Pacific region.
The current report Scope analyzes Neurostimulation Devices Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Neurostimulation Devices Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Neurostimulation Devices Industry growth. Neurostimulation Devices market has been segmented with the help of its Type, Application , and others. Neurostimulation Devices market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
In 2022, The spinal cord stimulator segment accounted for the largest market share of 50.7 % in terms of revenue:
The spinal cord stimulator segment dominated the market, in 2022. This dominance is attributed to the rising number of people suffering from FBSS (failed back surgery syndrome), ischemia, and chronic pain and the favorable reimbursement setup for spinal cord stimulation devices. Spinal cord stimulators are used in non-malignant chronic neuropathic pain management as they help mask the pain by producing tiny nerve impulses without making any anatomical changes to the target area. Thus, the broad range of product applications and high market penetration of commercially available products drives the demand for the segment.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Neurostimulation Devices Industry. Request a Free Sample PDF!
The pain management segment has gained the largest market share in 2022. This growth is attributed to the increasing prevalence of chronic pain caused due to various reasons such as failed back surgery syndrome, traumatic pain, cancer, and nerve injuries. Furthermore, neurostimulation devices have shown effectiveness in managing certain types of chronic pain that are difficult to treat with medications alone. They work by delivering electrical impulses to the nervous system, altering pain signals, and providing relief to patients which drives the demand for the neurostimulation devices.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Neurostimulation Devices market report 2024 Edition by contacting our team.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Neurostimulation Devices Market is witnessing significant growth in the near future.
In 2023, the Spinal Cord Stimulator segment accounted for noticeable share of global Neurostimulation Devices Market and is projected to experience significant growth in the near future.
The Essential Tremor segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Abbott , LivaNova and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Type | Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Others |
Application | Essential Tremor, Gastroparesis, Parkinson’s Disease, Urinary and Fecal Incontinence, Depression, Pain Management, Epilepsy, Dystonia, Others |
List of Competitors | Abbott, Laborie, LivaNova, Neuronetics, ElectroCore Inc., IntraPace, Boston Scientific, Aleva Synapse Biomedical Inc., Cyberonics, BioControl Medical, EndoStim Inc., Medtronic, SPR Therapeutics. |
This chapter will help you gain GLOBAL Market Analysis of Neurostimulation Devices. Further deep in this chapter, you will be able to review Global Neurostimulation Devices Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Purchase Add-Ons to Customize the Report Edition and get further granular data level data about the North America market. Add-On Cost: Request before placing the order, Respective Pricing will be informed after sending the inquiry
Qualitative Analysis for the North America Market: North America Neurostimulation Devices Market Trends North America Neurostimulation Devices Technological Road Map North America Neurostimulation Devices Market Drivers North America Neurostimulation Devices Market Restraints North America Neurostimulation Devices Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
You can purchase only the Executive Summary North America Market (2019 vs 2024 vs 2031)
Chapter 3 Europe Market Analysis
You can purchase only the Executive Summary Europe Market (2019 vs 2024 vs 2031)
Chapter 4 Asia-Pacific Market Analysis
You can purchase only the Executive Summary Asia Pacific Market (2019 vs 2024 vs 2031)
Chapter 5 South America Market Analysis
You can purchase only the Executive Summary South America Market (2019 vs 2024 vs 2031)
Chapter 6 Middle East and Africa Market Analysis
You can purchase only the Executive Summary Middle East and Africa Market (2019 vs 2024 vs 2031)
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Neurostimulation Devices market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Spinal Cord Stimulator have a significant impact on Neurostimulation Devices market? |
What are the key factors affecting the Spinal Cord Stimulator and Deep Brain Stimulator of Neurostimulation Devices Market? |
What is the CAGR/Growth Rate of Essential Tremor during the forecast period? |
By type, which segment accounted for largest share of the global Neurostimulation Devices Market? |
Which region is expected to dominate the global Neurostimulation Devices Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|
Published Report Editions
are Just a Tip of an Iceberg
Access the Complete Database of
Neurostimulation Devices Market
Request Sample