Global Neurostimulation Devices Market Overview

Global Neurostimulation Devices Market size was valued at USD 6.19 Billion in 2023 and is poised to grow from USD 7.02 Billion in 2024 to USD 19.23 Billion by 2032, growing at a CAGR of 13.42 % in the forecast period (2024-2032).

Factors including advances in medical technology, the incidence of increasing neurological disorders, and emerging demands for non-invasive treatment options have all contributed to the dramatic increase in global sales of neurostimulation devices recently. The electric stimulation of specific parts of the nervous system is done to treat different types of disorders such as Parkinson's disease, epilepsy, depression, chronic pain, and movement dysfunctions by neurostimulation devices that can treat a whole set of diseases. Such devices are good alternatives for regular drug applications, especially where patients do not respond to standard treatment.

The concept of neurostimulation and its devices now spans from deep brain stimulators, spinal cord stimulators, transcranial magnetic stimulators, to sacral nerve stimulators to meet the mounting need for state-of-the-art, more efficient therapies. Each of these devices serves specific areas of the nervous system, hence providing a specific remedy to different types of ailments.

The market is also driven by the increasing trend toward minimal invasiveness, associated with fewer side effects, faster recovery times, and greater effectiveness in terms of patient outcomes. All this has been made possible by technological advancing steps that incorporated into devices an increased capability of being controlled exactly regarding stimulation parameters and offer a customized therapy regimen. Wireless devices, rechargeable implants, and targeted improving systems that enhance the effectiveness of neurostimulation therapy will also help drive market growth.

Furthermore, the growing awareness about neurological disorders, combined with an aging global population, has contributed to the increased demand for neurostimulation therapies. Chronic conditions such as chronic pain and neurological diseases are becoming more prevalent, which has highlighted the need for alternative treatments that offer lasting relief without the risk of addiction or severe side effects associated with pharmaceuticals.

In addition to technological advances and increasing disease prevalence, the neurostimulation devices market is also benefitting from the rising healthcare investments and improving healthcare infrastructure worldwide. The growing focus on patient-centric care, which emphasizes personalized treatment and improved quality of life, aligns well with the capabilities of neurostimulation devices. As healthcare systems continue to evolve, particularly in emerging markets, access to these innovative treatments is expected to broaden, further contributing to market growth.

However, the market does face challenges, including the high cost of these devices and concerns over the long-term safety and efficacy of implanted neurostimulation devices. Despite these hurdles, ongoing research and clinical trials continue to demonstrate the potential of neurostimulation as a transformative treatment option. With continuous advancements in neurostimulation technology, the market is poised for continued growth, offering new hope for individuals suffering from a wide range of neurological conditions.

Market Drivers

Growing Demand for Non-Invasive Treatment Options

• A primary driving force behind this enlargement is now advancing non-invasive options for formulating therapy: more and more patients and healthcare providers will resort to learning about alternatives to surgery and drug therapy. Such conditions are gaining momentum as relatively riskless and open for their approach to treating a wide variety of neurological disorders through these non-invasive interventions: neurostimulation. There is no incision related to these normally, and therefore, there will be less chance to infections or resulting complications or longer recovery times related to invasive surgery.
• In addition, these non-invasive procedures would usually consider fewer side effects for treatment than long-term use of medication, such as in instances of obstinate pain, depression, or movement disorders. Hence, it becomes a preferable method for those who have only a specific discomfort when it comes to side effects and dependency effects of medications, most particularly opioids in pain relief processes. To add further attraction, they can manage and alter treatment parameters, which gives the user a more customized approach to treatment.
• Patient-centered healthcare is becoming more and more about improved outcomes with less invasive and less risky treatments, and this demand for non-invasive neurostimulation treatments only intensifies that thirst. As the public becomes more aware and technology advances, these non-invasive treatments will help create tomorrow's future of care in neurological management.

Key Findings:

• Abbott, a well-known American maker of medical devices, announced the Liberta RCTM deep brain stimulation (DBS) system's release in January 2024. The recently released invention, which treats movement disorders, was named the smallest rechargeable neurostimulation device in the world.

Growing Awareness and Acceptance of Neurostimulation Therapies

• It gives a huge momentum in the increase of the Global Neurostimulation Devices Market with wider awareness and subsequent acceptance of neurostimulation therapies. As more patients and healthcare providers are learning the advantages and capabilities of neurostimulation, such therapies are venturing towards them for consideration instead of traditional treatment methods. Visible to patient advocacy, media, and medical research has mainly played a very substantial factor in informing the public and the medical professionals about how effective it has been in the management of chronic pain, movement disorders, depression, and other neurological disorders.
• Furthermore, with ongoing clinical studies in Favor of neurostimulation therapies demonstrating good outcomes, the belief in such therapeutic modalities is burgeoning. Emerging patient demand has led prospective patients to seeking neurostimulation devices from the often-ineffective traditional medications or surgeries to gain benefits or expectations through such application. The success stories of individuals experiencing a significant improvement in the quality of life only boosted the movement forward with much consideration.
• They are proved most effective in treatment plans for the healthcare team of neurologists and pain specialists towards making neurostimulation common practice. Sooner or later, the healthcare sector, which consists of professionals such as neurologists and pain specialists, would come to recognize the benefits of neurostimulation therapy-for example, fewer side effects and customized forms of treatment-through prognosis against frontiers of internal medicine. Awareness and acceptance of these therapies will, therefore, improve further adding to the role they play in modern neurological care.

Market Opportunities

Development of Wireless and Rechargeable Devices

• The wireless and rechargeable neurostimulation devices are the actual breakthroughs in neurostimulation therapy. These provide more comfort, convenience, and flexibility and add a happy touch to patient rehabilitation. Conventional neurostimulation devices require invasive procedures for battery replacements and also limit a patient with an external wired connection for mobility. Wireless devices have established an avenue that eliminates the requirement for external connectors and hence improve comfort by giving more freedom of movement, making infections less possible. Wireless technology enhances further increasing the comfort level by using mobile apps or other digital platforms to control and adjust stimulation settings remotely.
• Rechargeable neurostimulation devices add one more step towards convenience as they do not require the patient to go into surgery, removing the prior need for battery replacements, and can instead charge the device conveniently at home much like the recharging of a smartphone. The discomfort caused by constant maintenance is minimized. Such advancements are directed at improving the experience of the end-users, thus translating the same into reduced healthcare acquisition costs as fewer follow-up surgeries are required and complications of device use are lower. Hence, wireless and rechargeable neurostimulation devices are gearing up as a good choice for patients and healthcare providers, which further propels the growth of the market for neurostimulation devices.

Key Findings:

• In January 2024, Medtronic plc, a global leader in healthcare technology, announced the U.S. Food and Drug Administration (FDA) approval of its Percept™ RC Deep Brain Stimulation (DBS) system. The rechargeable neurostimulator is the latest innovation in the Medtronic Percept™ family, which includes the Percept™ PC neurostimulator, BrainSense™ technology†, and SenSight™ directional leads. The Percept™ family is the only sensing-enabled DBS system on the market, allowing the physician to personalize treatment for patients with movement disorders such as Parkinson's disease, essential tremor, and dystonia* as well as epilepsy. Over 11 million people in the U.S. are living with movement disorders and approximately 3.4 million with epilepsy.

Market Restraining Factors

Risk of Device-Related Complications or Infections

• In neurostimulation devices, a prominent fear remains on account of device-associated complications or device-associated infection. Although significant advantages include non-invasive or minimally invasive treatments for neurological ailments, there are teeth associated with certain surgical ones. The most important one could be infection, which is known to be related to the site of surgery or could be between the implantation sites. The complication occurs, for example, in device malfunctioning or inflammation, and in serious, even very serious instances, could lead to removal or an additional surgical procedure.
• Migration of device leads or fractures or improper placing of device leads are some of the examples of other types of complications that may require further intervention for correction. They may cause discomfort as well as ineffective treatment from time to time, with possible permanent damage in some cases. Moreover, some patients might suffer from adverse reaction due to materials of device, reactions could be in form of skin irritations or allergic reactions.

Segmentation Analysis

The market scope is segmented because of by Product, by Application.

By Product

Based on the Product of the market is segmented into Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Electric Stimulator.

The various segments comprising the total Global Neurostimulation Devices Market, spinal cord stimulator (SCS) remains an extensively adopted segment. This is because spinal cord stimulation is considered one of the most widely used therapies for treating chronic pain and is mainly adopted in the management of patients with failed back surgery syndrome, complex regional pain syndrome, and other neuropathic pain syndromes. Among the non-invasive therapies for chronic pain, spinal cord stimulation is known to be one of the best alternatives available to the patient rather than turning to long-term opiate use or surgery. With chronic pain remaining a significant global health concern, the use of spinal cord stimulators has remained at historically high levels.

The efficacies of spinal cord stimulation in the long run are accompanied by innovations in technology, particularly developments in rechargeable and wireless systems, which accelerate its market growth. Opioid pain management has garner attention also, not just during the ongoing opioid crisis, further nudging SCS into the treatment option of choice for both patients and health care providers. Besides that, it is able to provide customized and reversible treatment options for better patient outcomes and satisfaction.

By Application

Based on the Application of the market is segmented into Pain Management, Epilepsy Essential Tremor, Urinary & Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease, Others.

Out of all the application segments in which the neurostimulation devices operate, pain management has for long been on top and still tops among others. This is mainly because of the high cases of chronic pain conditions among a proportion of the whole world's population. With chronic pain, most cases report low back pain, neuropathic pain, and fibromyalgia. With all these conditions joined together, the situation presents a health challenge, as there is an increase in the demand for effective and non-invasive treatments. Neurostimulation devices-spinal cord stimulators-have been very effective in the section of chronic pain management, offering relief to patients, who have not had a significant response to traditional medications or invasive surgeries, through direct targeting of pain signals within the nervous system. This certainly makes them an attractive alternative in comparison to opioids, as they do not bear the risks from addiction and side effects associated with the latter.

Therefore, the increase in the chronic pain cases, coincidences of understanding or awareness of the marked advantages of neurostimulation therapies, has all conspired to place this issue at the forefront. However, neurostimulation therapy in pain management in comparison to long-term drug therapy has fewer side precautions; besides, the devices are customizable to the needs of the individual patients, further increasing their preference.

Regional Snapshots

The study provides inputs on the markets by geographic regions, namely North America, Europe, Asia-Pacific, Latin America, and MEA. North America has long been the dominant, largest region in the global neurostimulation devices market, and projections indicate that it will still exert this dominance at least until 2018. Such dominance can be attributed to several critical factors such as availability of advanced healthcare infrastructure, high healthcare expenditures, and better patient awareness. The largest contributor to this overall growth in the market is the United States, which has a fairly developed medical devices industry, high uptake of advanced technologies, and gives rise to an increasing prevalence of neurological disorders such as chronic pain, epilepsy, and Parkinson's disease. Moreover, the rising requirement for non-invasive and minimally invasive treatment alternatives, along with the increased insurance cover towards neurostimulation therapies, have facilitated the growth of the market in North America. Clinical studies and favourable outcomes from neurostimulation therapies further strengthen the usage of these devices within the region.

Even though North America continues to be the top market, it is expected that the Asia-Pacific area will be the region with the highest growth rate in the upcoming year. Growth was attributed to a combination of factors that pushed a rapidly expanding healthcare infrastructure, investment on improving healthcare technologies, and rising awareness about neurological diseases in the region. It has enormous, aging populations that are increasingly suffering from neurodegenerative diseases more so in countries like China and India. The emerging demand for effective treatment responses will propel the growth of neurostimulation devices since they most often present non-invasive solutions for chronic conditions. On the other hand, continuous improvements in their affordability through emerging medical technology will complement their growth.

List of Companies Profiled:

• Medtronic
• Abbott Laboratories
• Boston Scientific Corporation
• LivaNova PLC
• Nevro Corp.
• NeuroPace, Inc.
• Synapse Biomedical Inc.
• Neuronetics, Inc.
• NDI Medical LLC
• Stimwave Technologies
• BioControl Medical
• EndoStim
• Aleva Neurotherapeutics
• SPR Therapeutics
• electroCore, Inc.
• Soterix Medical Inc.
• Cala Health
• Inspire Medical Systems, Inc.
• NeuroSigma, Inc.
• Autonomic Technologies Inc.
• Axonics Modulation Technologies, Inc.
• Nexstim Plc

Key Industry Developments

• A novel neurostimulation device was approved by the US Food and Drug Administration in August 2024. The Inspire V device was created by Inspire Medical Systems, a top supplier of neurostimulation devices, to treat obstructive sleep apnea (OSA). The business announced that it will market the product in 2025 after receiving approval.
• The world leader in medical device technology, Medtronic plc, declared in January 2024 that a new neurostimulation device had been approved. With Medtronic's unique BrainSenseTM technology, the PerceptTM RC Deep Brain Stimulation (DBS) system is a rechargeable medical device that offers individualized treatment for a variety of illnesses.

Report Coverage

The report will cover the qualitative and quantitative data on the Global Neurostimulation Devices Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Neurostimulation Devices Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Neurostimulation Devices market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Neurostimulation Devices. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Neurostimulation Devices companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Neurostimulation Devices Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Neurostimulation Devices Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 12 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Reasons to Purchase

• To gain insightful analyses of the Neurostimulation Devices market and have comprehensive understanding of the global market and its commercial landscape.
• Assess the production processes, major issues, and solutions to mitigate the development risk.
• To understand the most affecting driving and restraining forces in the market and its impact in the global market.
• Learn about the Neurostimulation Devices market strategies that are being adopted by leading respective organizations.
• To understand the future outlook and prospects for the Neurostimulation Devices market. Besides the standard structure reports, we also provide custom research according to specific requirements.

Research Scope of Neurostimulation Devices Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Neurostimulation Devices Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: