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The global neurostimulation devices market reached a value of US$ 7.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2027, exhibiting a CAGR of 12.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A neurostimulation device is a programmable medical transmitter that can deliver electrical signals to the specific parts of the human brain. It is also used to stimulate, inhibit, modify, regulate and alter the activity of the autonomous, central and peripheral nervous systems in the patient’s body. This primarily aids in the treatment of various medical ailments, such as movement disorders, chronic pain and epilepsy. It is also utilized in the operation of neural prosthetics, hearing aids, artificial vision, artificial limbs and brain-machine interfaces. Neurostimulation devices can be both implantable or externally placed.
The rising instances of neurological and lifestyle-related disorders, along with the rapidly growing geriatric population across the globe, are among the key factors driving the growth of the market. Furthermore, the increasing preference for minimally invasive (MI) procedures among patients is also providing a boost to the market growth. For instance, deep brain stimulation (DBS) is an MI procedure that uses neurostimulation devices to deliver electrical signals to a specific spot in the brain circuits. This aids in treating various degenerative disorders, such as Parkinson’s and Alzheimer’s disease. Additionally, technological advancements, including the development of devices that can electronically stimulate the nervous system to restore vision and regain post-paralysis motor movements, are creating a positive outlook for the market. Other factors, including significant growth in the medical industry, increasing healthcare expenditure and extensive research and development (R&D) activities, are projected to drive the market in the upcoming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global neurostimulation devices market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on stimulation type, device type, application and end-user.
Breakup by Stimulation Type:
Breakup by Device Type:
Breakup by Application:
Breakup by End-User:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Biocontrol Medical, Boston Scientific Corporation, Cyberonics Inc., Medtronic Inc., Neuronetics Inc., Neuropace Inc., Neurosigma Inc., Nevro Corporation, ST. Jude Medical Inc., Synapse Biomedical Inc., etc.
|Base Year of the Analysis||2021|
|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|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|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)|
The global neurostimulation devices market was valued at US$ 7.0 Billion in 2021.
We expect the global neurostimulation devices market to exhibit a CAGR of 12.3% during 2022-2027.
The rising instances of neurological disorders, along with the growing application of neurostimulation devices to aid in the treatment of movement disorders, chronic pain, and epilepsy, are primarily driving the global neurostimulation devices market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of elective procedures for neural prosthetics, hearing aid, artificial vision, etc., to reduce the risk of the coronavirus infection upon interaction with medical equipment, thereby limiting the demand for neurostimulation devices.
Based on the device type, the global neurostimulation devices market can be categorized into 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. Currently, SCS (Spinal Cord Stimulation) devices exhibit clear dominance in the market.
Based on the application, the global neurostimulation devices market has been segmented into pain management, epilepsy, essential tremors, urinary and fecal incontinence, depression, dystonia, Parkinson’s disease, and others. Among these, pain management represents the largest market share.
Based on the end-user, the global neurostimulation devices market can be bifurcated into rehabilitation centers, hospitals, medical clinics, and others. Currently, hospitals account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global neurostimulation devices market include Biocontrol Medical, Boston Scientific Corporation, Cyberonics Inc., Medtronic Inc., Neuronetics Inc., Neuropace Inc., Neurosigma Inc., Nevro Corporation, ST. Jude Medical Inc., Synapse Biomedical Inc., etc.
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