PUBLISHER: Grand View Research | PRODUCT CODE: 1611545
PUBLISHER: Grand View Research | PRODUCT CODE: 1611545
The global implantable neurostimulators market size is anticipated to reach USD 9.87 billion by 2030, expanding at a CAGR of 10.3% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of neurological diseases and higher occurrence of associated chronic pain and discomfort are driving the market.
The rising prevalence of neurological diseases such as Parkinson's disease, epilepsy, essential tremor, chronic pain, and depression will result in increased demand for implantable neurostimulators. According to the WHO, in 2020, around 50.0 million people worldwide are suffering from epilepsy. Implanted neurostimulators are used to control epileptic seizures. Thus, increasing people suffering from epilepsy is expected to boost the market growth.
Moreover, the growing base of the aging population is more susceptible to neurological disorders, which is anticipated to be a high-impact rendering driver for this market. According to the CDC, Parkinson's disease (PD) is mostly diagnosed in individuals above the age of 60 and it is projected that PD affects 1.0% of the people over the age of 60 to 4% by age of 80.
Furthermore, the incorporation of new technologies, and the introduction of new products by market players, is likely to boost the market during the forecast period. For instance, in September 2019, Abbott received U.S. FDA approval for its Proclaim XR recharge-free SCS system for the management of chronic pain.