What are the Historical Developments and Current Growth Metrics of the Implantable Neurostimulation Devices Market?
The implantable neurostimulation devices market has seen considerable growth due to a variety of factors.
• In recent times, there has been a notable expansion in the market size for implantable neurostimulation devices. The market is expected to escalate from $8.68 billion in 2024 to $9.64 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.1%.
The historical growth trajectory could be credited to rising demand for non-drug treatments, increased preference for minimally invasive methods, an expanding elderly population, a broadening array of psychiatric disorders, and a surge in the prevalence of chronic illnesses.
What Does Future Hold for The Implantable Neurostimulation Devices Market By 2029?
The implantable neurostimulation devices market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to rise swiftly in the upcoming years, the market size of implantable neurostimulation devices is predicted to reach $14.53 billion by 2029, experiencing a compound annual growth rate (CAGR) of 10.8%.
Factors contributing to this expansion during the projection period include increasing frequency of neurological conditions, growing prevalence of chronic diseases associated with lifestyle, heightened community awareness, escalating cases of spinal cord damage, and inflating healthcare costs. The forecast period will also be marked by key trends such as the enhanced use of sensing technology, advancement in neurostimulation technologies, the emergence of technologically sophisticated products, inclusion of closed-loop systems, and the integration of wireless technology.
What Are The Primary Growth Drivers In The Implantable Neurostimulation Devices Market?
The upward trend in neurological disorder incidences is likely to fuel the expansion of the implantable neurostimulation device market in the future. Neurological disorders involve any abnormalities that influence the nervous system's structure or functionality, manifesting symptoms such as paralysis, seizures, and cognitive dysfunction. Elevated exposure to risk elements like high blood pressure, developmental irregularities, and trauma or injury contributes to increased detection rates of these disorders. Implantable neurostimulation devices serve as a solution for neurological issues by regulating nerve activity and mitigating symptoms where other treatments fall short or are inadequate. For instance, in 2024, the Alzheimer's Association, a philanthropic health organization based in the U.S, estimated that around 6.9 million Americans aged 65 and above were living with Alzheimer's disease, with 73% being age 75 or older. This figure is expected to surge to 12.7 million by 2050. Consequently, the surge in neurological disorders prevalence will stimulate the implantable neurostimulation device market's growth.
What Is The Segmentation Of The Global Implantable Neurostimulation Devices Market?
The implantable neurostimulation devicesmarket covered in this report is segmented –
1) By Type: Spinal Cord Stimulation (SCS), Gastric Electric Stimulation (GES), Deep Brain Stimulation (DBS), Sacral Nerve Stimulation (SNS), Vagus Nerve Stimulation (VNS), Other Types
2) By Application: Pain Management, Parkinson's Disease, Urinary And Fecal Incontinence, Epilepsy, Gastroparesis, Other Applications
3) By End-User: Hospitals, Clinics, Ambulatory Surgical Centers
Subsegments:
1) By Spinal Cord Stimulation (SCS): Rechargeable SCS Devices, Non-Rechargeable SCS Devices
2) By Gastric Electric Stimulation (GES): Implantable Gastric Stimulators, Adjustable Gastric Stimulators
3) By Deep Brain Stimulation (DBS): DBS Devices for Movement Disorders, DBS Devices for Psychiatric Disorders
4) By Sacral Nerve Stimulation (SNS): SNS Devices for Urinary Incontinence, SNS Devices for Fecal Incontinence
5) By Vagus Nerve Stimulation (VNS): VNS Devices for Epilepsy, VNS Devices for Depression
6) By Other Types: Peripheral Nerve Stimulation (PNS), Cortical Stimulation Devices, Novel Neurostimulation Technologies
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What Emerging Trends Are Influencing The Growth Of The Implantable Neurostimulation Devices Market?
The focus of leading companies in the implantable neurostimulation devices market is on the creation of technologically superior products, like spinal cord stimulation (SCS) systems, which address chronic pain conditions. SCS systems are medical devices that utilize electrical impulses to regulate nerve activity in the spinal cord, bringing relief from persistent pain and enhancing patients' quality of life when other therapies have proven ineffective. In December 2022, for example, Abbott, a medical device firm based in the US, received approval from the U.S. Food and Drug Administration (FDA) for their Eterna spinal cord stimulation (SCS) system. The Eterna SCS holds the distinction of being the smallest implantable, rechargeable spinal cord stimulator in the market, specifically designed for optimal everyday comfort. This system comes equipped with the exclusive BurstDR stimulation technology from Abbott, a mechanism that replicates the natural firing patterns of the brain that offers superior pain relief and is chosen by 87% of patients over conventional tingling stimulation. The Eterna system, equipped with Xtend energy technology, demands the fewest number of recharges, only needing as few as five annual recharges, providing maximum convenience. It also endorses full-body MRI scans through its TotalScan technology and can adapt to future enhancement without being replaced. Moreover, with the integration of Abbott's mobile app, the real-time tracking of battery life and charging status can be conveniently monitored on iPhone devices.
Who Are the Key Players In The Implantable Neurostimulation Devices Market?
Major companies operating in the implantable neurostimulation devices market are:
• Abbott Laboratories
• Medtronic PLC
• Boston Scientific Corporation
• Dignity Health
• St. Jude Medical LLC
• LivaNova PLC
• Nevro Corp.
• Axonics Inc.
• NeuroPace Inc.
• Bioness Inc.
• Saluda Medical Pty Ltd.
• SceneRay Co. Ltd.
• NeuroMetrix Inc.
• CURE Epilepsy
• Synapse Biomedical Inc.
• NeuroSigma Inc.
• Nuvectra Corporation
• MicroTransponder Inc.
• Pain Management NYC
• Curonix LLC
What Are The Regional Insights Into The Implantable Neurostimulation Devices Market?
North America was the largest region in the implantable neurostimulation devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the implantable neurostimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
