Global Neurostimulation Devices Market to Reach US$ 20.6 Billion by 2032, Triggered by Introduction of Advanced Devices

March 17, 2020 | Healthcare

According to the latest report by IMARC Group, titled “Neurostimulation Devices Market Report by Stimulation Type (Internal Stimulation, External Stimulation), Device Type (SCS (Spinal Cord Stimulation) Devices, DBS (Deep Brain Stimulation) Devices, SNS (Sacral Nerve Stimulation) Devices, VNS (Vagus Nerve Stimulation) Devices, GES (Gastric Electrical Stimulation) Devices, Transcutaneous Electrical Nerve Stimulation Devices, Transcranial Magnetic Stimulation Devices, and Others), Application (Pain Management, Epilepsy, Essential Tremors, Urinary and Fecal Incontinence, Depression, Dystonia, Parkinson’s Disease, and Others), End-User (Rehabilitation Centers, Hospitals, Medical Clinics, and Others), and Region 2024-2032,” the global neurostimulation devices market size reached US$ 8.7 Billion in 2023. Neurostimulation devices are medical instruments that generate electrical impulses to stimulate, modify, inhibit, regulate and alter the activity of the central, autonomous, and peripheral nervous systems in the patient’s body. They have emerged as effective therapeutic solutions for treating various medical conditions, including chronic pain, diabetic neuropathy, movement disorders, epilepsy and Parkinson's disease. In recent years, electrical stimulation technologies have evolved that can deliver stimulation with a higher spatial resolution to provide customized neuromodulation for optimal clinical outcomes.

Global Neurostimulation Devices Market Trends:

The rising prevalence of chronic pain ailments across the world has resulted in an escalating demand for neurostimulation devices. Besides this, the advancements made in neurotechnology and neuroimaging, coupled with the increasing understanding of neurocircuitry has facilitated the development of advanced devices that provide relief from several neurologic and psychiatric disorders. Furthermore, rapid growth in the geriatric population, increasing healthcare expenditure, and the rising preference for minimally invasive (MI) procedures among patients are some of the other factors bolstering the growth of the market across the globe. Looking forward, the market value is projected to reach US$ 20.6 Billion by 2032, expected to grow at a CAGR of 9.7% during 2024-2032.

Market Summary:

  • Based on the stimulation type, the market has been bifurcated into internal and external stimulation.
  • On the basis of the device type, the market has been classified into spinal cord stimulation (SCS), deep brain stimulation (DBS), sacral nerve stimulation (SNS), vagus nerve stimulation (VNS), gastric electrical stimulation (GES), transcutaneous electrical nerve stimulation, transcranial magnetic stimulation and other devices.
  • The market has been categorized based on the application into pain management, epilepsy, essential tremors, urinary and fecal incontinence, depression, dystonia, Parkinson’s disease and others.
  • On the basis of the end user, the market has been divided into rehabilitation centers, hospitals, medical clinics and others.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the market has also been examined with some of the key players being Biocontrol Medical Ltd., Boston Scientific Corporation, Cyberonics, Inc., Medtronic plc, Neuronetics Inc., NeuroPace, Inc., Neurosigma Inc., Nevro Corporation, St. Jude Medical, Inc. and Synapse Biomedical Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Stimulation Type, Device Type, Application, End-User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Biocontrol Medical, Boston Scientific Corporation, Cyberonics Inc., Medtronic Inc., Neuronetics Inc., Neuropace Inc., Neurosigma Inc., Nevro Corporation, ST. Jude Medical Inc. and Synapse Biomedical Inc.
Customization Scope 10% Free Customization
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Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Neurostimulation Devices Market to Reach US$ 20.6 Billion by 2032, Triggered by Introduction of Advanced Devices
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