PUBLISHER: The Business Research Company | PRODUCT CODE: 1713400
PUBLISHER: The Business Research Company | PRODUCT CODE: 1713400
Neurostimulation devices are medical instruments designed to deliver electrical impulses to specific areas of the nervous system to modulate nerve activity. These devices are typically implanted or placed on the body to treat a range of neurological conditions. Neurostimulation works by altering or blocking pain signals or by stimulating specific neural pathways to restore function. These devices aim to enhance patients' quality of life by providing targeted, adjustable therapy tailored to individual needs.
The primary products in the neurostimulation devices market can be categorized into implantable devices and external devices. Implantable devices include cochlear implants, deep brain stimulation devices, spinal cord stimulation devices, vagus nerve stimulation devices, sacral nerve stimulation devices, and gastric electric stimulation devices. External devices encompass transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS). These devices are used in a variety of applications, including pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, and Parkinson's disease. They are employed by different healthcare facilities, such as hospitals, rehabilitation centers, and medical clinics.
The neurostimulation device market research report is one of a series of new reports from The Business Research Company that provides neurostimulation device market statistics, including neurostimulation device industry global market size, regional shares, competitors with a neurostimulation device market share, detailed neurostimulation device market segments, market trends and opportunities, and any further data you may need to thrive in the neurostimulation device industry. This neurostimulation device market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The neurostimulation devices market size has grown rapidly in recent years. It will grow from $6.3 billion in 2024 to $7.1 billion in 2025 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to chronic pain management, aging population, awareness and acceptance, multidisciplinary approach.
The neurostimulation devices market size is expected to see rapid growth in the next few years. It will grow to $11.18 billion in 2029 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to minimally invasive techniques, emerging markets growth, regulatory support and reimbursement, telehealth and remote monitoring. Major trends in the forecast period include personalized therapy, wearable neurostimulation devices, advanced programming and connectivity, combination therapies.
The increasing global geriatric population is a significant driver behind the growth of the neurostimulation device market. As the number of elderly individuals continues to rise, so does the prevalence of various neurobiological disorders affecting this demographic. According to a report by the World Health Organization (WHO) in October 2022, it is projected that by 2050, 80% of older people will reside in low- and middle-income countries. Furthermore, the proportion of the world's population over the age of 60 is expected to nearly double from 12% in 2015 to 22% in 2050.
The growing demand within the healthcare industry is expected to drive the expansion of the neurostimulation devices market in the future. The healthcare industry is a broad and complex sector that includes various organizations, professionals, and institutions focused on delivering medical services, healthcare products, and improving overall health. Neurostimulation devices play a crucial role in this sector, especially in treating and managing neurological conditions and chronic pain. For example, in May 2023, a report from the Office for National Statistics, a UK-based government agency, revealed that healthcare spending in the UK increased by 5.6% from 2022 to 2023, compared to a 0.9% growth in 2022. In 2023, UK healthcare expenditure was approximately $322.152 billion (£292 billion). As a result, the expanding healthcare industry is contributing to the growth of the neurostimulation devices market.
Innovations in minimally invasive treatments for various neurological disorders are emerging, leading to the development of neurostimulation devices that cause minimal invasion during procedures. For example, Deep Brain Stimulation (DBS) is a minimally invasive surgical procedure used to treat neurological symptoms of Parkinson's disease. DBS involves the use of a neurostimulation device, similar to a heart pacemaker, to deliver precise electrical pulses to specific brain circuits that influence Parkinson's disease symptoms. These electrical pulses block the activity of these circuits, allowing the rest of the brain to function more normally.
Major companies in the neurostimulation devices market are focused on developing advanced technological products like the Eterna Spinal Cord Stimulation (SCS) system for chronic pain treatment. The Eterna SCS system, launched by Abbott Laboratories in December 2022, is the smallest implantable, rechargeable spinal cord stimulator. It features Abbott's proprietary BurstDR stimulation, which replicates natural firing patterns in the brain, providing superior pain relief preferred by 87% of patients over traditional 'tingling' tonic stimulation.
In June 2022, Medtronic plc., an Ireland-based medical device company, acquired Intersect ENT to expand its comprehensive ear, nose, and throat (ENT) portfolio. This acquisition enhances Medtronic's offerings for sinus procedures to improve post-operative outcomes and treat nasal polyps. Intersect ENT is a US-based company specializing in healthcare equipment.
Major companies operating in the neurostimulation devices market include Medtronic PLC, Cyberonics Inc., Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Neuronetics Inc., NeuroPace Inc., NeuroSigma Inc., Cochlear Ltd., NDI Medical LLC, Synapse Biomedical Inc., MED-EL, LivaNova PLC, DePuy Synthes Inc., Aleva Neurotherapeutics, BrainsWay, Cortec Corporation, Endonovo Therapeutics Inc., Inspire Medical Systems Inc., The Magstim Company Limited, Mainstay Medical Limited, MicroTransponder Inc., MindMaze, NeuroMetrix, Nexeon MedSystems, Nuvectra, Saluda Medical, SPR Therapeutics Inc., Uro Medical Corporation
North America was the largest region in the global neurostimulation devices market in 2024. Asia-Pacific was the second-largest region in the neurostimulation devices market. The regions covered in the neurostimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the neurostimulation devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The neurostimulation devices market consists of sales of spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neurostimulation Devices Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neurostimulation devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neurostimulation devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neurostimulation devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.