Neurostimulation Devices Market Size & Share, by Product (Spinal Cord Stimulators, Deep Brain Stimulators, Cochlear Implants, Vagus Nerve Stimulators, Sacral Nerve Stimulators, Percutaneous Tibial Nerve Stimulators, Transcranial Magnetic Stimulators), Application (Chronic Pain, Movement Disorders, Hearing Impairment, Epilepsy, Urinary Incontinence), End-user (Hospitals, Surgical Centers, Specialty Clinics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2025-2037

  • Report ID: 4239
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2025-2037

Neurostimulation Devices Market size was valued at USD 11.32 billion in 2024 and is poised to exceed USD 50.56 billion by the end of 2037, registering over 12.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of neurostimulation devices is evaluated at USD 12.42 billion.

The market is estimated to grow on the back of increasing neurological surgeries and disorders. According to estimates, about 22 million people suffer from neurological disorders every year, of which 13 million require surgery.  Moreover, an increasing number of minimally invasive surgeries across the globe is also anticipated to fuel the growth of the market in the coming years. Additionally, increasing the adoption of neurostimulation devices for the treatment of neurological disorders and increasing patient awareness are also expected to boost the growth of the global market during the forecast period.

The global neurostimulation devices market is also estimated to witness growth on account of the increasing level of the geriatric population globally. According to the World Health Organization (WHO) data, the population aged 60 years and above stood at around 1 billion in 2020, which is projected to reach 1.4 billion by the end of 2030.  According to the World Health Organization (WHO) data, the population of people aged 60 years and above in China was around 254 million in 2019, with about 176 million people aged 65 and above. By 2040, it is estimated that there will be about 402 million people over the age of 60 in China. Moreover, the increasing technological advancement and innovation in these neurostimulation devices are anticipated to drive market growth during the forecast period.


Get more information on this report: Request Free Sample PDF

Neurostimulation Devices Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Cases of Parkinson Disease in All Age Groups of People – Parkinson's disease is affecting a growing number of individuals worldwide, with an ageing population being the primary cause of this development. However, Parkinson's disease instances are not just restricted to the elderly; younger people can also get the condition. According to the World Health Organization (WHO) data, in 2019, more than 8.5 million people were diagnosed with Parkinson's disease across the globe. In addition, the death and disability ratio in Parkinson's disease is increasing faster than in any other neurological diseases.
  • Increased Research & Development Expenditure Supported by Government and the Public Sector – As per data by the World Bank, global research and development expenditure in proportion with gross domestic product (GDP) was around 2.63% in 2020, up from 2.2% in 2018 globally.
  • Increased Prevalence of Arthritis Owing to Unhealthy Food Habits – Around the world, arthritis is becoming more common, and poor eating habits are thought to be a significant reason. Weight gain and obesity, which are significant risk factors for arthritis, can be brought on by a diet rich in processed foods, sweets, and saturated fats. Osteoarthritis is known to be influenced by obesity, especially in weight-bearing joints such as the hips and knees. Therefore, rising demand for osteoarthritis treatment is expected to boost the neurostimulation devices market’ growth. According to estimates from the Centers for Disease Control and Prevention, approximately 78.4 million adults globally are projected to suffer from arthritis by 2040, and approximately 34.6 million adults around the world are projected to report arthritis-attributable activity limitations.
  • Growth of Hearing Loss Cases Among the World’s Population – The biggest risk factor for hearing loss is ageing, and as the world's population ages, more individuals are projected to get hearing loss. Another important risk factor for hearing loss is exposure to loud noise, and it is anticipated that as personal audio device use and occupational noise exposure increase, so will the number of persons who suffer from noise-induced hearing loss. According to the World Health Organization (WHO) data, in 2021, there are about 1.5 billion people suffering from hearing loss globally, with this figure projected to reach 2.5 billion by 2030 around the globe.
  • Rising Healthcare Expenditure Across the World – Every country, regardless of economic development level, is seeing rises in healthcare spending, which is a worldwide trend. Developed nations, where access to healthcare is more widespread and healthcare systems are more expensive, tend to have greater healthcare spending as a proportion of GDP.  According to World Bank data, the global health expenditure to GDP ratio was around 9.83% in 2019, up from 9.7% in 2018.

Challenges

  • Rising Complications Associated with Neurostimulation Devices - The increasing complications, such as stroke, heart problems, bleeding in the brain, seizures, breathing issues, and wrong placements of leads are estimated to hamper the market growth. The increasing use of neurostimulators can lead to complications that can be biological, hardware, therapy, and programming-related which hinders the growth of the market.
  • Stringent Rules and Regulations to allow Market Availability of these Devices
  • High Cost of Neurostimulation Devices

Neurostimulation Devices Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

12.1%

Base Year Market Size (2024)

USD 11.32 billion

Forecast Year Market Size (2037)

USD 50.56 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Get more information on this report: Request Free Sample PDF

Neurostimulation Devices Segmentation

End-user (Hospitals, Surgical Centers, Specialty Clinics)

The global neurostimulation devices market is segmented and analyzed for demand and supply by end-user into hospitals, ambulatory surgical centers, and specialty clinics. Out of these segments, the hospitals segment is anticipated to garner the largest market share over the forecast period, owing to the rising healthcare infrastructure globally, and the increasing incidence of chronic pain. As per the data, Indian healthcare infrastructure is projected to grow to USD 345 billion by the end of 2022. In addition, the growing number of hospitals globally is also expected to boost the growth of this segment in the coming years. For instance, there were approximately 6000 hospitals in the United States in 2020.

Product (Spinal Cord Stimulators, Deep Brain Stimulators, Cochlear Implants, Vagus Nerve Stimulators, Sacral Nerve Stimulators, Percutaneous Tibial Nerve Stimulators, Transcranial Magnetic Stimulators)

The global neurostimulation devices market is also segmented and analyzed for demand and supply by product type into spinal cord stimulators, deep brain stimulators, cochlear implants, vagus nerve stimulators, sacral nerve stimulators, and transcranial magnetic stimulators. Out of these segments, by 2037 the spinal cord stimulation segment is anticipated to lead the market in terms of revenue. Some of the factors influencing the growth of this market include the rising prevalence of spinal cord injuries, chronic pain, the rising acceptance of SCS devices, and the attractive reimbursement environment for SCS treatments. As per data, more than 16,900 new cases of spinal cord injuries occur in the United States every year.

Our in-depth analysis of the global market includes the following segments:

         By Product Type

  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Cochlear Implants
  • Vagus Nerve Stimulators
  • Sacral Nerve Stimulators
  • Percutaneous Tibial Nerve Stimulators
  • Transcranial Magnetic Stimulators

        By Application

  • Chronic Pain
  • Movement Disorders
  • Hearing Impairment
  • Epilepsy
  • Urinary Incontinence
  • Others

        By End-user

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics

Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.

Customize this Report

Neurostimulation Devices Industry - Regional Synopsis

The North America region neurostimulation devices market projected to hold the largest market share by the end of 2037. This can be accredited to the increasing prevalence of neurological disorders and the increasing level of the geriatric population in the region. According to statistics, in 2018, approximately 20 million US citizens experience some form of neuropathy, of which approximately 15% are individuals with brain impairment in US households. Further, the market is estimated to gain high growth during the forecast period, owing to the rising use of implantable neurostimulation devices to minimize pain and increasing initiatives to innovate medical devices in the region.

Research Nester
Get more information on this report: Request Free Sample PDF

Companies Dominating the Neurostimulation Devices Landscape

    • Abbott Laboratories
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Boston Scientific Corporation
    • Integer Holdings Corporation
    • Medtronic
    • Nevro Corp.
    • NeuroSigma, Inc.
    • NeuroPace, Inc.
    • Neuronetics
    • Synapse Biomedical Inc.
    • Soterix Medical, Inc.

In the News

  • Nevro Corp., a global medical device company, today announced that its Senza system has been successfully approved by the FDA for the treatment of chronic pain associated with painful diabetic neuropathy (PDN). With the approval, the company will immediately begin its commercial production in the United States.

  • NeuroSigma, Inc., a bioelectronic medical device company, today announced that the company received an equity investment of USD 5 million from KT Corporation, an international digital telecommunication company. With the investment, the company will support the commercialization and development of Monarch eTNS Systems and accelerate the business growth trajectory of NeuroSigma.

 

Author Credits:  Radhika Pawar


  • Report ID: 4239
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of neurostimulation devices is evaluated at USD 12.42 billion.

The neurostimulation devices market size was valued at USD 11.32 billion in 2024 and is poised to exceed USD 50.56 billion by the end of 2037, registering over 12.1% CAGR during the forecast period i.e., between 2025-2037. Rising prevalence of chronic pain and increasing neurological disorders will drive the market growth.

North America industry is expected to account for majority revenue share by 2037, driven by increasing prevalence of neurological disorders and the increasing level of the geriatric population in the region.

The major players in the market include Abbott Laboratories, Boston Scientific Corporation, Integer Holdings Corporation, Medtronic, Nevro Corp., NeuroSigma, Inc., NeuroPace, Inc., Neuronetics, Synapse Biomedical Inc., Soterix Medical, Inc.
Neurostimulation Devices Market Report Scope
logo
  GET A FREE SAMPLE

FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.

 Request Free Sample Copy

Have questions before ordering this report?

Inquiry Before Buying
Inquiry Before Buying Request Free Sample