Neurostimulation Devices Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released a comprehensive report on the worldwide market for neurostimulation devices. The report offers a thorough assessment of crucial market dynamics, including drivers, trends, opportunities, and challenges, providing detailed insights into the market structure. This research publication presents exclusive data and statistics outlining the anticipated growth trajectory of the global neurostimulation devices market from 2024 to 2031.

Key Insights:

Neurostimulation Devices Market Size (2024E):US$ 6.7 Bn
Projected Market Value (2031F): US$ 14.6 Bn
Global Market Growth Rate (CAGR 2024 to 2031): 11.7%

Neurostimulation Devices Market - Report Scope:

Neurostimulation devices are critical in treating various neurological disorders and conditions, including chronic pain, epilepsy, Parkinson's disease, and depression. These devices deliver electrical stimulation to specific areas of the nervous system to modulate neural activity, alleviate symptoms, and improve patient quality of life. The neurostimulation devices market caters to hospitals, clinics, and homecare settings, offering a variety of devices such as spinal cord stimulators, deep brain stimulators, and vagus nerve stimulators. Market growth is driven by the increasing prevalence of neurological disorders, advancements in device technology, and growing awareness of neurostimulation as an effective treatment modality.

Market Growth Drivers:

The global neurostimulation devices market is propelled by several key factors, including the rising incidence of chronic pain and neurological disorders, such as epilepsy and Parkinson's disease. Increasing demand for minimally invasive treatment options and advancements in device miniaturization, rechargeable batteries, and wireless connectivity are enhancing patient comfort and expanding market adoption. Additionally, the growing geriatric population and increasing healthcare expenditure are driving the demand for effective and long-term neurological treatments, further fueling market growth.

Market Restraints:

Despite promising growth prospects, the neurostimulation devices market faces challenges, including high device costs, regulatory hurdles, and potential side effects associated with neurostimulation therapy. Limited access to advanced healthcare infrastructure in developing regions and the lengthy approval process for new devices can restrict market growth. Furthermore, reimbursement constraints and patient skepticism regarding device implantation present additional barriers to widespread adoption.

Market Opportunities:

Significant opportunities in the neurostimulation devices market stem from technological advancements, expanding applications, and favorable demographic trends. Innovations in device design, such as non-invasive stimulation techniques, artificial intelligence integration, and improved patient monitoring capabilities, are unlocking new potential. Emerging applications of neurostimulation in conditions like obesity management, stroke rehabilitation, and migraine treatment broaden the market scope. Moreover, increasing investments in R&D and strategic collaborations among industry players create pathways for growth and innovation in the dynamic neurostimulation landscape.

Key Questions Answered in the Report:

What are the primary factors driving the growth of the neurostimulation devices market globally?
Which device types and applications are propelling neurostimulation adoption across various healthcare settings?
How are technological advancements shaping the competitive landscape of the neurostimulation devices market?
Who are the key players in the market, and what strategies are they employing to maintain competitiveness?
What are the emerging trends and future prospects in the global neurostimulation devices market?

Competitive Intelligence and Business Strategy:

Leading players in the global neurostimulation devices market, including Medtronic PLC, Boston Scientific Corporation, Abbott Laboratories, and Nevro Corp., focus on innovation and strategic partnerships to strengthen their market positions. These companies are investing heavily in R&D to develop advanced neurostimulation solutions, such as closed-loop systems, wearable stimulators, and devices with enhanced connectivity. Collaborations with healthcare providers, research institutions, and regulatory agencies enable market access and facilitate the adoption of cutting-edge technologies. Emphasis on patient education, clinical research, and evidence-based practice further supports market expansion and improved patient outcomes.

Key Companies Profiled:

Medtronic PLC
Boston Scientific Corporation
Abbott Laboratories
Nevro Corp.
LivaNova PLC
Cyberonics, Inc.
Stimwave LLC
NeuroPace, Inc.
Synapse Biomedical Inc.

Neurostimulation Devices Industry Segmentation

By Product Type

Spinal Cord Stimulators (SCS)
Deep Brain Stimulators (DBS)
Vagus Nerve Stimulators (VNS)
Sacral Nerve Stimulators
Transcranial Magnetic Stimulation (TMS) Devices
Transcutaneous Electrical Nerve Stimulation (TENS) Devices

By Application

Pain Management
Epilepsy
Depression
Parkinson's Disease

By End User

Hospitals
Clinics
Homecare Settings
Research Institutes

By Region

North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East and Africa

Product Code: PMRREP2824

1. Executive Summary

1.1. Global Neurostimulation Devices Market Snapshot, 2024 and 2031
1.2. Market Opportunity Assessment, 2024 - 2031, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global Sectorial Outlook
- 2.3.2. Global GDP Growth Outlook
- 2.3.3. Global Healthcare Spending Outlook
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Product Adoption Analysis
3.2. Technology Assessment
3.3. Regulatory Landscape
3.4. Value Chain Analysis
3.5. Key Deals and Mergers
3.6. PESTLE Analysis
3.7. Porter's Five Force Analysis

4. Price Trend Analysis, 2019 - 2031

4.1. Key Highlights
4.2. Key Factors Impacting Product Prices
4.3. Pricing Analysis, By Product Type
4.4. Regional Prices and Product Type Preferences

5. Global Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

5.1. Key Highlights
- 5.1.1. Market Volume (Units) Projections
- 5.1.2. Market Size (US$ Bn) and Y-o-Y Growth
- 5.1.3. Absolute $ Opportunity
5.2. Market Size (US$ Bn) Analysis and Forecast
- 5.2.1. Historical Market Size (US$ Bn) Analysis, 2019 - 2023
- 5.2.2. Current Market Size (US$ Bn) Analysis and Forecast, 2024 - 2031
5.3. Global Neurostimulation Devices Market Outlook: Product Type
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis, By Product Type, 2019 - 2023
- 5.3.3. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
  - 5.3.3.1. Spinal Cord Stimulators (SCS)
  - 5.3.3.2. Deep Brain Stimulators (DBS)
  - 5.3.3.3. Vagus Nerve Stimulators (VNS)
  - 5.3.3.4. Sacral Nerve Stimulators
  - 5.3.3.5. Transcranial Magnetic Stimulation (TMS) Devices
  - 5.3.3.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
- 5.3.4. Market Attractiveness Analysis: Product Type
5.4. Global Neurostimulation Devices Market Outlook: Application
- 5.4.1. Introduction / Key Findings
- 5.4.2. Historical Market Size (US$ Bn) Analysis, By Application, 2019 - 2023
- 5.4.3. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
  - 5.4.3.1. Pain Management
  - 5.4.3.2. Epilepsy
  - 5.4.3.3. Depression
  - 5.4.3.4. Parkinson's Disease
  - 5.4.3.5. Others
5.5. Market Attractiveness Analysis: Application
5.6. Global Neurostimulation Devices Market Outlook: End User
- 5.6.1. Introduction / Key Findings
- 5.6.2. Historical Market Size (US$ Bn) Analysis, By End User, 2019 - 2023
- 5.6.3. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
  - 5.6.3.1. Hospitals
  - 5.6.3.2. Clinics
  - 5.6.3.3. Homecare Settings
  - 5.6.3.4. Research Institutes
5.7. Market Attractiveness Analysis: End User

6. Global Neurostimulation Devices Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) and Volume (Units) Analysis, By Region, 2019 - 2023
6.3. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Region, 2023 - 2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

7.1. Key Highlights
7.2. Historical Market Size (US$ Bn) and Analysis, By Market, 2019 - 2023
- 7.2.1. By Country
- 7.2.2. By Product Type
- 7.2.3. By Application
- 7.2.4. By End User
7.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2023 - 2031
- 7.3.1. U.S.
- 7.3.2. Canada
7.4. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
- 7.4.1. Spinal Cord Stimulators (SCS)
- 7.4.2. Deep Brain Stimulators (DBS)
- 7.4.3. Vagus Nerve Stimulators (VNS)
- 7.4.4. Sacral Nerve Stimulators
- 7.4.5. Transcranial Magnetic Stimulation (TMS) Devices
- 7.4.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
7.5. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
- 7.5.1. Pain Management
- 7.5.2. Epilepsy
- 7.5.3. Depression
- 7.5.4. Parkinson's Disease
- 7.5.5. Others
7.6. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
- 7.6.1. Hospitals
- 7.6.2. Clinics
- 7.6.3. Homecare Settings
- 7.6.4. Research Institutes
7.7. Market Attractiveness Analysis

8. Europe Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Application
- 8.3.4. By End User
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2023 - 2031
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. U.K.
- 8.4.4. Italy
- 8.4.5. Spain
- 8.4.6. Russia
- 8.4.7. Turkey
- 8.4.8. Rest of Europe
8.5. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
- 8.5.1. Spinal Cord Stimulators (SCS)
- 8.5.2. Deep Brain Stimulators (DBS)
- 8.5.3. Vagus Nerve Stimulators (VNS)
- 8.5.4. Sacral Nerve Stimulators
- 8.5.5. Transcranial Magnetic Stimulation (TMS) Devices
- 8.5.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
8.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
- 8.6.1. Pain Management
- 8.6.2. Epilepsy
- 8.6.3. Depression
- 8.6.4. Parkinson's Disease
- 8.6.5. Others
8.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
- 8.7.1. Hospitals
- 8.7.2. Clinics
- 8.7.3. Homecare Settings
- 8.7.4. Research Institutes
8.8. Market Attractiveness Analysis

9. East Asia Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Application
- 9.3.4. By End User
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2023 - 2031
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. South Korea
9.5. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
- 9.5.1. Spinal Cord Stimulators (SCS)
- 9.5.2. Deep Brain Stimulators (DBS)
- 9.5.3. Vagus Nerve Stimulators (VNS)
- 9.5.4. Sacral Nerve Stimulators
- 9.5.5. Transcranial Magnetic Stimulation (TMS) Devices
- 9.5.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
9.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
- 9.6.1. Pain Management
- 9.6.2. Epilepsy
- 9.6.3. Depression
- 9.6.4. Parkinson's Disease
- 9.6.5. Others
9.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
- 9.7.1. Hospitals
- 9.7.2. Clinics
- 9.7.3. Homecare Settings
- 9.7.4. Research Institutes
9.8. Market Attractiveness Analysis

10. South Asia & Oceania Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

10.1. Key Highlights
10.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 10.2.1. By Country
- 10.2.2. By Product Type
- 10.2.3. By Application
- 10.2.4. By End User
10.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2023 - 2031
- 10.3.1. India
- 10.3.2. SEA
- 10.3.3. ANZ
10.4. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
- 10.4.1. Spinal Cord Stimulators (SCS)
- 10.4.2. Deep Brain Stimulators (DBS)
- 10.4.3. Vagus Nerve Stimulators (VNS)
- 10.4.4. Sacral Nerve Stimulators
- 10.4.5. Transcranial Magnetic Stimulation (TMS) Devices
- 10.4.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
- 10.5.1. Pain Management
- 10.5.2. Epilepsy
- 10.5.3. Depression
- 10.5.4. Parkinson's Disease
- 10.5.5. Others
10.6. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
- 10.6.1. Hospitals
- 10.6.2. Clinics
- 10.6.3. Homecare Settings
- 10.6.4. Research Institutes

11. Latin America Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 11.3.1. By Country
- 11.3.2. By Product Type
- 11.3.3. By Application
- 11.3.4. By End User
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2023 - 2031
- 11.4.1. Brazil
- 11.4.2. Mexico
- 11.4.3. Rest of Latin America
11.5. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
- 11.5.1. Spinal Cord Stimulators (SCS)
- 11.5.2. Deep Brain Stimulators (DBS)
- 11.5.3. Vagus Nerve Stimulators (VNS)
- 11.5.4. Sacral Nerve Stimulators
- 11.5.5. Transcranial Magnetic Stimulation (TMS) Devices
- 11.5.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
11.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
- 11.6.1. Pain Management
- 11.6.2. Epilepsy
- 11.6.3. Depression
- 11.6.4. Parkinson's Disease
- 11.6.5. Others
11.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
- 11.7.1. Hospitals
- 11.7.2. Clinics
- 11.7.3. Homecare Settings
- 11.7.4. Research Institutes
11.8. Market Attractiveness Analysis

12. Middle East & Africa Neurostimulation Devices Market Outlook: Historical (2019 - 2023) and Forecast (2024 - 2031)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 12.3.1. By Country
- 12.3.2. By Product Type
- 12.3.3. By Application
- 12.3.4. By End User
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2023 - 2031
- 12.4.1. GCC Countries
- 12.4.2. Egypt
- 12.4.3. South Africa
- 12.4.4. Northern Africa
- 12.4.5. Rest of Middle East & Africa
12.5. Current Market Size (US$ Bn) and Volume (Units) Analysis and Forecast, By Product Type, 2023 - 2031
- 12.5.1. Spinal Cord Stimulators (SCS)
- 12.5.2. Deep Brain Stimulators (DBS)
- 12.5.3. Vagus Nerve Stimulators (VNS)
- 12.5.4. Sacral Nerve Stimulators
- 12.5.5. Transcranial Magnetic Stimulation (TMS) Devices
- 12.5.6. Transcutaneous Electrical Nerve Stimulation (TENS) Devices
12.6. Current Market Size (US$ Bn) Analysis and Forecast, By Application, 2023 - 2031
- 12.6.1. Pain Management
- 12.6.2. Epilepsy
- 12.6.3. Depression
- 12.6.4. Parkinson's Disease
- 12.6.5. Others
12.7. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2023 - 2031
- 12.7.1. Hospitals
- 12.7.2. Clinics
- 12.7.3. Homecare Settings
- 12.7.4. Research Institutes
12.8. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Medtronic
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Product Types
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. Abbott
- 13.3.3. Boston Scientific Corporation
- 13.3.4. Cochlear Inc.
- 13.3.5. NDI Medical LLC
- 13.3.6. NeuroPace Inc.
- 13.3.7. MED-EL Medical Electronics
- 13.3.8. NeuroSigma Inc.

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations