Peripheral Nerve Stimulators Market Segmentation:
Product Type (Transcutaneous, Implantable)
By product type, the transcutaneous segment is likely to dominate over 72.4% peripheral nerve stimulators market share by 2035. This segment in market is growing due to its non-invasive nature, offering a safer, more convenient alternative to surgical options. These cost-effective, easy-to-use devices are ideal for outpatient care, making them accessible to a broader patient base. Advancements in wearable technology and rising awareness of non-invasive pain management therapies are driving adoption. For instance, in September 2020, NeuroMetrix launched the Quell App for Apple Watch, a wearable TENS device for pain relief.
End user (Hospitals, Outpatient Centers)
Based on the end user, the outpatient segment is set to hold the majority of revenue share in the peripheral nerve stimulators market through the forecast period. The segment’s growth is attributed to the increasing demand for cost-effective and convenient treatment options. These centers offer quicker procedures and shorter recovery times compared to traditional hospital settings. Advancements in minimally invasive PNS technologies and the rising preference for outpatient care further drive growth in this segment. For instance, in August 2022, Minnetronix Medical’s MindsEye expandable brain access port, developed and FDA-cleared, was fully commercialized and distributed by Mizuho America in the U.S. Overall, propelling the market.
Our in-depth analysis of the global market includes the following segments:
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