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The global neurostimulation devices market was valued at USD 5.78 Billion in 2022 and grew at a CAGR of 12.11% from 2023 to 2032. The market is expected to reach USD 18.12 Billion by 2032. The increasing demand for neurostimulation devices can be attributed to the rising prevalence of neurological diseases. The rising investment in advanced medical devices provides lucrative opportunities to the market.
A developing therapy for neuropsychiatric illnesses is neurostimulation. Different neurostimulation techniques for treating epilepsy have been created or are presently being tested for effectiveness and safety. Neurostimulation devices can treat drug-resistant epilepsy. The care of intractable pain syndromes brought on by peripheral neuropathies involves neurostimulation, whether peripheral or intraspinal nerve stimulation. Electrodes and a battery are used in neurostimulation devices, providing electrical or magnetic forces to specific brain parts through the scalp. Parkinson's disease, migraines and epilepsy are just a few conditions for which neurostimulation is utilized therapeutically. Electrical stimulation is applied to drive brain function inside a circuit in neurostimulation therapies, including invasive and noninvasive methods.
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Increasing use of neurostimulation devices: Over the past few decades, the industry has developed from a basic, low-resolution technique to a highly complex methodology involving cutting-edge technologies. Neurological uses of neurostimulation devices have been tried, showing considerable promise and garnering increasing interest in academia and industry. Numerous medical innovations, some of which have received clinical use approval, involve neurostimulation devices. Since its inception, advancements in other domains have accompanied the development of neurostimulation.
High cost: The market for neurostimulation devices may need to be improved by the high cost. These are erratic and expensive due to the quantity required for manufacturing material requirements, specifically for neurostimulation devices. Their expensive cost may constrain the use of neurostimulation devices. Further, these factors also segregate the market shares among key vendors, as the small-scale and medium-scale end-users need help to afford such devices.
Increasing prevalence of Parkinson’s disease: Compared to other neurological conditions, Parkinson's disease has been diagnosed in a disproportionately large number of patients over the past two decades. According to the latest estimates, 329,000 people died from Parkinson's disease in 2019, an increase of more than 100% over the previous 20 years. One of the major causes of the increasing prevalence of Parkinson's disease is the ageing demographics. Numerous studies have shown that exposure to environmental factors such as air pollution, insecticides, and industrial solvents may increase the risk of acquiring Parkinson's disease. Nearly a million Americans have Parkinson's disease, predicted to increase to 1.2 million by 2030.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant neurostimulation devices market, with a 49.22% market revenue share in 2022.
North America region will account for the largest market share with revenue growth. Nations such as the U.S., Canada and Mexico have a tremendous demand for neurostimulation devices due to the growth of the healthcare industry and rising investment in the development of advanced medical devices for the treatment of various neurological diseases such as Parkinson’s disease, epilepsy, dystonia, etc. The favourable government regulations are promoting the use of neurostimulation devices technology.
North America region Neurostimulation Devices Market Share in 2022 - 49.22%
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The product type segment is divided into deep brain stimulator, sacral nerve stimulator, gastric electric stimulator, spinal cord stimulator, vagus nerve stimulator and transcutaneous electric nerve stimulator. The spinal cord stimulator segment dominated the market, with a share of around 48.31% in 2022. Many types of chronic pain are treated with spinal cord stimulation devices. Adults are most frequently affected by the ailments and circumstances necessitating a spinal cord stimulator.
The application segment is divided into Parkinson’s disease, epilepsy, depression, pain management, essential tremor, dystonia, urinary and faecal incontinence, gastroparesis and others. The pain management segment dominated the market, with a share of around 43.20% in 2022. Neurostimulation devices modify pain signals as they make their way to the brain. Neurostimulation devices help manage pain by stimulating the spinal cord, brain, and dorsal root ganglion.
The end-users segment is divided into hospitals, clinics and rehabilitation centres. The hospital segment dominated the market, with a share of around 67.21% in 2022. The hospitals keep different types of neurostimulation devices to treat various applications. The type of devices and procedures used in the hospitals also depends upon the condition and underlying diseases of the patient.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 5.78 Billion |
| Market size value in 2032 | USD 18.12 Billion |
| CAGR (2023 to 2032) | 12.11% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Product Type, Application and End-users |
As per The Brainy Insights, the size of the neurostimulation devices market was valued USD 5.78 billion in 2022 to USD 18.12 billion by 2032.
Global neurostimulation devices market is growing at a CAGR of 12.11% during the forecast period 2023-2032.
North America region emerged as the largest market for the neurostimulation devices.
The market's growth will be influenced by the rising use of neurostimulation devices.
The high cost can hamper the market growth.
The rising number for cashless transactions is providing huge opportunities to the market.
Key players are Cyberonics, Medtronic, Boston Scientific Corp., Nevro Corp., St. Jude Medical, Inc., Neutronics Inc., Aleva Therapeutics SA, NeuroSigma, Inc., ElectroCore Inc., Synapse Biomedical Inc., EndoStim Inc. among others.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product Type
4.3.2. Market Attractiveness Analysis by Application
4.3.3. Market Attractiveness Analysis by End-users
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Increasing use of neurostimulation devices
5.3. Restraints
5.3.1. High cost
5.4. Opportunities
5.4.1. Rising prevalence of neurological diseases
5.5. Challenges
5.5.1. Stringent regulations
6. Global Neurostimulation Devices Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Deep Brain Stimulator
6.3. Sacral Nerve Stimulator
6.4. Gastric Electric Stimulator
6.5. Spinal Cord Stimulator
6.6. Vagus Nerve Stimulator
6.7. Transcutaneous Electric Nerve Stimulator
7. Global Neurostimulation Devices Market Analysis and Forecast, By Application
7.1. Segment Overview
7.2. Parkinson’s Disease
7.3. Epilepsy
7.4. Depression
7.5. Pain Management
7.6. Essential Tremor
7.7. Dystonia
7.8. Urinary and Fecal Incontinence
7.9. Gastroparesis
7.10. Others
8. Global Neurostimulation Devices Market Analysis and Forecast, By End-users
8.1. Segment Overview
8.2. Hospitals
8.3. Clinics
8.4. Rehabilitation Centres
9. Global Neurostimulation Devices Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Neurostimulation Devices Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Neurostimulation Devices Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Cyberonics
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. Medtronic
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. Boston Scientific Corp.
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. Nevro Corp.
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. St. Jude Medical, Inc.
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Neutronics Inc.
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Aleva Therapeutics SA
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. NeuroSigma, Inc.
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. ElectroCore Inc.
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. Synapse Biomedical Inc.
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
11.11. EndoStim Inc.
11.11.1. Business Overview
11.11.2. Company Snapshot
11.11.3. Company Market Share Analysis
11.11.4. Company Product Portfolio
11.11.5. Recent Developments
11.11.6. SWOT Analysis
List of Table
1. Global Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
2. Global Deep Brain Stimulator, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
3. Global Sacral Nerve Stimulator, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
4. Global Gastric Electric Stimulator, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
5. Global Spinal Cord Stimulator, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
6. Global Vagus Nerve Stimulator, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
7. Global Transcutaneous Electric Nerve Stimulator, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
8. Global Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
9. Global Parkinson’s Disease, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
10. Global Epilepsy, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
11. Global Depression, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
12. Global Pain Management, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
13. Global Essential Tremor, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
14. Global Dystonia, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
15. Global Urinary and Fecal Incontinence, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
16. Global Gastroparesis, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
17. Global Others, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
18. Global Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
19. Global Hospitals, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
20. Global Clinics, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
21. Global Rehabilitation Centres, Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
22. Global Neurostimulation Devices Market, By Region, 2019-2032 (USD Billion)
23. North America Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
24. North America Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
25. North America Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
26. U.S. Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
27. U.S. Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
28. U.S. Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
29. Canada Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
30. Canada Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
31. Canada Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
32. Mexico Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
33. Mexico Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
34. Mexico Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
35. Europe Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
36. Europe Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
37. Europe Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
38. Germany Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
39. Germany Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
40. Germany Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
41. France Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
42. France Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
43. France Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
44. U.K. Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
45. U.K. Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
46. U.K. Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
47. Italy Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
48. Italy Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
49. Italy Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
50. Spain Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
51. Spain Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
52. Spain Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
53. Asia Pacific Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
54. Asia Pacific Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
55. Asia Pacific Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
56. Japan Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
57. Japan Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
58. Japan Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
59. China Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
60. China Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
61. China Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
62. India Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
63. India Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
64. India Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
65. South America Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
66. South America Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
67. South America Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
68. Brazil Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
69. Brazil Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
70. Brazil Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
71. Middle East and Africa Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
72. Middle East and Africa Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
73. Middle East and Africa Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
74. UAE Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
75. UAE Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
76. UAE Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
77. South Africa Neurostimulation Devices Market, By Product Type, 2019-2032 (USD Billion)
78. South Africa Neurostimulation Devices Market, By Application, 2019-2032 (USD Billion)
79. South Africa Neurostimulation Devices Market, By End-users, 2019-2032 (USD Billion)
List of Figures
1. Global Neurostimulation Devices Market Segmentation
2. Neurostimulation Devices Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Neurostimulation Devices Market Attractiveness Analysis by Product Type
9. Global Neurostimulation Devices Market Attractiveness Analysis by Application
10. Global Neurostimulation Devices Market Attractiveness Analysis by End-users
11. Global Neurostimulation Devices Market Attractiveness Analysis by Region
12. Global Neurostimulation Devices Market: Dynamics
13. Global Neurostimulation Devices Market Share by Product Type (2022 & 2032)
14. Global Neurostimulation Devices Market Share by Application (2022 & 2032)
15. Global Neurostimulation Devices Market Share by End-users (2022 & 2032)
16. Global Neurostimulation Devices Market Share by Regions (2022 & 2032)
17. Global Neurostimulation Devices Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global neurostimulation devices market based on below mentioned segments:
Global Neurostimulation Devices Market by Product Type:
Global Neurostimulation Devices Market by Application:
Global Neurostimulation Devices Market by End-users:
Global Neurostimulation Devices Market by Region:
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