Neurostimulation Devices Market Size, Share, Growth Analysis Report 2032

Neurostimulation Devices Industry Prospective:

The global Neurostimulation Devices market size accrued earnings worth approximately USD 6.48 Billion in 2023 and is predicted to gain revenue of about USD 18.71 Billion by 2032, is set to record a CAGR of nearly 12.5% over the period from 2024 to 2032.

The study includes drivers and restraints of the neurostimulation devices market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the neurostimulation devices market on a global level.

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Neurostimulation Devices Market: Growth Drivers

Neurostimulation is also known as spinal cord stimulation, which is the delivery of low voltage electricity to the peripheral nerves or the dorsal column in the body safely. These implantable stimulators prevent pain signals from reaching the brain and replace them with soothing, tingling sensations, which are also known as paresthesia. These sensations cover the specific areas of the body where the pain is felt. Neurostimulation has been used since the last 50 years. Peripheral nerve stimulation is the first form of neurostimulation to be developed. However, it wasn’t very popular initially and was replaced by other techniques that stimulated the spinal cord.

New technologies are being developed and researches have been revealing more potential uses of this treatment. This, in turn, is fuelling the rising demand for safer and cost-effective treatment options. Moreover, the increasing prevalence of diseases that are treated with neurostimulation therapy is the major growth factor of the global neurostimulation devices market. In addition, the increasing number of FDA approvals for clinical trials in this area is also propelling the global neurostimulation devices market.

As per the National Center for Health Statistics of the Centers for Disease Control and Prevention (CDC), in 2013, around 85,000 people died of Alzheimer’s. Additionally, annually, nearly 50 million people worldwide suffer from epilepsy, making it one of the most common neurological diseases globally. However, the lack of well-trained professionals and non-measurable outcomes are affecting the growth of the neurostimulation devices market globally. Alternatively, the need to provide safe and improved care to patients suffering from neurological disorders and government support in emerging countries are expected to generate new market opportunities over the forecast period.

In order to give the users of this report a comprehensive view of the neurostimulation devices market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.

Neurostimulation Devices Market: Segmentation

The global neurostimulation devices market is segmented on the basis of product, application, and end-user.

Based on product, the neurostimulation devices market is classified into deep brain stimulation devices, gastric electric stimulation devices, spinal cord stimulation devices, vagus nerve stimulation devices, sacral nerve stimulation devices, and others.

On the basis of application, the market is segmented into epilepsy, Parkinson's disease, pain management, essential tremor, urinary and fecal incontinence, Alzheimer’s, ischemia, and others.

Based on end-user, the market includes hospitals, scientific research laboratories, and others.

Neurostimulation Devices Market: Report Scope

Neurostimulation Devices Market: Regional Analysis

By region, North America is anticipated to dominate the global neurostimulation devices market and hold a major market share in the future. The European neurostimulation devices market is likely to hold a major share in the future, due to the cost-effectiveness of clinical researches in the region, which is enabling the medical devices companies to introduce new devices in the market. In emerging markets like India, about 31 million people suffer from neurological disorders with the prevalence of around 2,500 patients per 10,000 patients. This is further boosting the neurostimulation devices market in the Asia Pacific region.

Neurostimulation Devices Market: Competitive Analysis

Some leading players of the global neurostimulation devices market include

• Boston Scientific Corporation
• Medtronic Inc
• Cyberonics Inc
• NeuroPace Inc
• St. Jude Medical Inc
• NeuroSigma, Inc

This report segments the global neurostimulation devices market into:

Global Neurostimulation Devices Market: Product Analysis

• Deep Brain Stimulation Devices
• Spinal Cord Stimulation Devices
• Gastric Electric Stimulation Devices
• Vagus Nerve Stimulation Devices
• Sacral Nerve Stimulation Devices
• Others

Global Neurostimulation Devices Market: Application Analysis

• Parkinson’s Disease
• Epilepsy
• Pain Management
• Essential Tremor
• Urinary and Fecal Incontinence
• Alzheimer’s
• Ischemia
• Others

Global Neurostimulation Devices Market: End-User Analysis

• Hospitals
• Scientific Research Laboratories
• Others

Global Neurostimulation Devices Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa