As per DelveInsight, the Global Neurostimulation Devices Market was valued at USD 5.82 billion in 2021 and growing at a CAGR of 11.77% during the forecast period (2022 to 2027); it is expected to reach USD 11.34 billion by 2027. Some of the key factors, such as the increasing incidence of chronic diseases, rising product demand as add-on therapy, the growing prevalence of lifestyle diseases such as depression and chronic pain, higher adoption of technologically advanced products, and the rising geriatric population, are driving the Global Neurostimulation Devices Market growth. Some of the prominent MedTech giants, such as Medtronic PLC, Cyberonics, Boston Scientific Corporation, Abbott Laboratories, Aleva neurotherapeutics SA, ElectroCore Inc., EndoStim Inc., Nevro Corporation, and others, are actively working in the Global Neurostimulation Devices Market.
DelveInsight’s “Global Neurostimulation Devices Market” research report provides the current and forecasted Neurostimulation Devices Market size, share, and trends analysis for the next five years, upcoming innovations in the segment, and major market drivers & barriers. The report also covers the key competitors and emerging devices in the domain.
Global Neurostimulation Devices Overview
Neurostimulation devices are implantable or non-implantable programmable medical devices that deliver electrical stimulation to specific parts of the body, such as the brain, spinal cord, or peripheral nervous system. Neurostimulation therapies include invasive and noninvasive approaches that help relieve pain and discomfort and can treat numerous conditions, such as chronic pain, movement disorders, epilepsy, and Parkinson’s disease.
To provide a better understanding of the market outlook, DelveInsight’s “Global Neurostimulation Devices Market” report provides in-depth information based on the segmentation such as device type (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and Others), by application (Pain Management, Bowel and Bladder Control, Parkinson’s Disease, Epilepsy, and others), by type (Invasive, and Non-Invasive), by end-user (Hospitals, Ambulatory Surgical Centres and Others), and by geography (North America, Europe, Asia-Pacific, and Rest of the World).
As per DelveInsight, spinal cord stimulators are expected to hold a considerable market share in the device type segment. Some of the key factors, such as the increased use of spinal cord stimulators for treating neuropathic pain and spinal injuries, will contribute to the spinal cord stimulators demand in the coming years. Similarly, in the application domain, the pain management segment is expected to contribute significantly to the neurostimulation devices market due to the boost in the usage of neurostimulation devices for treating chronic and acute pain.
Neurological disorders, such as stroke, brain, and other nervous system cancers, traumatic brain injury, spinal cord injury, Alzheimer’s disease, Parkinson’s disease, epilepsy, and migraine, among others, are the leading cause of disabilities worldwide. Neurological disorders are also one of the leading contributors to the number of deaths each year.
As per the Epilepsy Centre (2020), around 50 million people are living with epilepsy worldwide, and around 2.4 million new cases are diagnosed each year. According to the Global Burden of Disease Study (2019), Parkinson’s disease (PD) affects 1-2 per 1000 of the population at any time. Moreover, the World Health Organization stated that (in 2020), globally, around 50 million people have dementia, and there are nearly 10 million new cases every year. The cases of depression are also growing rapidly worldwide. The cases of neurological disorders are rising at an immense pace, and urgent measures to reduce this burden are therefore needed. Neurostimulation Devices can play a key role in the management of neurological disorders.
To cater to different needs, companies are increasing their research and development activities to develop products with better efficacy and easy operation. High product efficacy demonstrated in treating neurological conditions, along with the availability of limited treatment options for the disease, is expected to impel market growth during the forecast period.
Similarly, some of the factors, such as the surgical complications during implantation, low awareness about the devices, the escalating cost of the products, relatively higher chances of getting infections, and the product being recalled due to various technical reasons, are anticipated to hinder the neurostimulation devices’ growth of the market.
Interested to know more about the ongoing developments in the Global Neurostimulation Devices Market? Visit to get an in-depth insight into Neurostimulation Devices Types and Emerging Products
As per DelveInsight’s assessment, North America is expected to dominate the overall Neurostimulation Devices Market in the coming years. Some of the major factors, such as the growth in the number of patients suffering from various neurological conditions, the rising lifestyle-related disorders, and the demand for advanced technologies in neurostimulation devices, will influence the market in the coming years.
As per the Journal of the American Medical Association (JAMA) Neurology (2017), the three most burdensome neurological disorders in the United States, in terms of disability-adjusted life-years (DALYs), included stroke, Alzheimer’s disease, and other dementias, and migraine. As per the CDC, in 2020, nearly 5.8 million Americans suffered from Alzheimer’s disease. The number of cases doubles every five years in the United States. Moreover, nearly 14 million people are expected to be affected by 2060. Similarly, the cases of other neurological diseases such as Parkinson’s, multiple sclerosis, muscular dystrophy, and Lou Gehrig’s disease, are also rising, which will increase the demand for Neurostimulation Devices. Neurostimulation Devices as a treatment option are expected to lower the burden and improve living conditions for people affected with neurological disorders.
Similarly, the Europe and Asia-Pacific region have a high potential to register massive growth in demand for Global Neurostimulation Devices, as the burden of neurological diseases is increasing in these countries along with increasing R&D expenditure.
Interested in knowing how the Global Neurostimulation Devices Market will grow by 2027? Click to get a snapshot of Neurostimulation Devices Market Trends and Developments
Over the years, the Neurostimulation Devices Market has evolved significantly owing to the active participation of global MedTech companies and technological advancements in the domain.
- In August 2021, Merck announced a collaboration in its new Bioelectronics innovation field with neuroloop GmbH, a B. Braun subsidiary, to develop a neurostimulator device that can complement the existing drug therapies of patients with chronic inflammatory diseases.
- In August 2021, the US FDA expanded the indication for the noninvasive BrainsWay Deep Transcranial Magnetic Stimulation (Deep TMSTM) System to include the treatment of comorbid anxiety symptoms in adult patients with depression.
- In July 2021, Nevro Corp. received FDA approval for its Senza® System for the treatment of chronic pain associated with Painful Diabetic Neuropathy (PDN).
As per DelveInsight, the ongoing clinical & commercial development activities and research in the domain will contribute immensely to the Neurostimulation Devices Market in the coming years.
Key Companies In the Neurostimulation Devices Market
Some of the key market players operating in the Neurostimulation Devices Market include Medtronic PLC (NYSE: MDT), Cyberonics, Boston Scientific Corporation (NYSE: BSX), Abbott Laboratories (NYSE: ABT), Aleva neurotherapeutics SA, ElectroCore Inc. (NASDAQ: ECOR), EndoStim Inc., Nevro Corporation (NYSE: NVRO), and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Neurostimulation Devices Market in the coming years. The entry of new players and the launch of emerging products will immensely drive market growth.
Learn how new players’ entries will transform the Neurostimulation Devices Market in the coming years at: Neurostimulation Devices’ Competitive Landscape
Scope of the Neurostimulation Devices Market Report:
- Geography Covered – Global
- Study Period – 2019-2027
- Neurostimulation Devices Market Segmentation –
- By Device Type – Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and others
- By Application – Pain Management, Bowel, and Bladder Control, Parkinson’s Disease, Epilepsy, and others
- By Type – Invasive, and Non-Invasive
- By End Users – Hospitals, Ambulatory Surgical Centers and others
- By Geography
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View.
Table of Content
|3||Regulatory and Patent Analysis|
|4||Neurostimulation Devices Market Key factors analysis|
|5||Neurostimulation Devices Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Neurostimulation Devices Market|
|7||Neurostimulation Devices Market Layout|
|8||Neurostimulation Devices Global Company Share Analysis – Key 3-5 Companies|
|9||Neurostimulation Devices Product Profiles and Key Companies|
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Key Takeaways From the Neurostimulation Devices Market Report Study
- In-depth analysis of the Neurostimulation Devices Market size, share, and key trends.
- Comprehensive analysis of current Neurostimulation Devices Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Neurostimulation Devices Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Neurostimulation Devices Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Neurostimulation Devices Market.
- Various opportunities are available for the other competitors in the Neurostimulation Devices Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Neurostimulation Devices Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Neurostimulation Devices Market growth in the coming future?
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- Epilepsy Market
- Parkinson’s Disease Market
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- Deep Brain Stimulation Devices Market
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- Sacral Nerve Stimulator Devices Market
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