Global Neurostimulation Devices Market Share Report 2024, Forecast To 2033
17 Jan, 2024
The neurostimulation devices market has witnessed rapid growth, increasing from $6.34 billion in 2023 to $6.98 billion in 2024, with a CAGR of 10.1%. This growth is attributed to chronic pain management, aging population, awareness and acceptance, and a multidisciplinary approach. In the forecast period, it is projected to grow to $10.12 billion in 2028, fueled by minimally invasive techniques, emerging markets growth, regulatory support and reimbursement, and telehealth and remote monitoring. Major trends include personalized therapy, wearable neurostimulation devices, advanced programming and connectivity, and combination therapies.
Global Neurostimulation Devices Market Key Driver
The expanding global geriatric population is a key driver for the growth of the neurostimulation device market. As the number of elderly individuals rises, a growing proportion is succumbing to various neurobiological disorders. Notably, in October 2022, the World Health Organization (WHO), a specialized United Nations agency overseeing international public health, projected that by 2050, 80% of older individuals will reside in low- and middle-income countries. This period will witness a substantial increase, with the percentage of the global population aged over 60 years nearly doubling from 12% in 2015 to an estimated 22% by 2050.
Get A Free Sample Of The Global Neurostimulation Devices Market ReportGlobal Neurostimulation Devices Market Segments
The neurostimulation devices market covered in this report is segmented –
1) By Product: Implantable Devices, External Devices
2) By Application: Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson's Disease
3) By End User: Hospitals, Rehabilitation Centers, Medical Clinic
Subsegments Covered:
By Implantable Devices: Cochlear Implants, Deep Brain Stimulation, Spinal Cord Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Gastric Electric Stimulation
5) By External Devices: Transcranial Magnetic Stimulation (TMS), Transcutaneous Electrical Nerve Stimulation (TENS)
By Geography: The regions covered in the neurostimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
North America was the largest region in the global neurostimulation devices market in 2023. Asia-Pacific was the second-largest region in the neurostimulation devices market. The regions covered in the neurostimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Major Neurostimulation Devices Industry Players
Medtronic plc, Cyberonics Inc., Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Neuronetics Inc., NeuroPace Inc., NeuroSigma Inc., Cochlear Ltd., NDI Medical LLC, Synapse Biomedical Inc., MED-EL, LivaNova PLC, DePuy Synthes Inc., Aleva Neurotherapeutics, BrainsWay, Cortec Corporation, Endonovo Therapeutics Inc., Inspire Medical Systems Inc., The Magstim Company Limited, Mainstay Medical Limited, MicroTransponder Inc., MindMaze, NeuroMetrix, Nexeon MedSystems, Nuvectra, Saluda Medical, SPR Therapeutics Inc., Uro Medical Corporation
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Neurostimulation Devices Market Overview
Neurostimulation devices are implantable and programmable medical devices that send low voltage electricity to a specific nerve or target in the spinal cord or brain to affect neuronal transmissions. This procedure is used to treat or modulate motor functions in conditions such as neuropathic pain, chronic pain, major treatment-resistant depression Parkinson’s disease, epilepsy, incontinence, gastroparesis, and essential tremor.
Neurostimulation Devices Global Market Report 2023 provides data on the global neurostimulation devices market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The neurostimulation devices market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.