Peripheral Nerve Stimulators Market Trends

Growth Drivers

• Advancements in PNS technology: Technological advancements in peripheral nerve stimulator (PNS) devices, including wireless, implantable, and programmable systems, are significantly improving their effectiveness and ease of use. These innovations enhance the precision and customization of treatments, offering more targeted pain relief and reducing the need for invasive procedures. In this regard, Imec unveiled a ground, ultra-small, low-power wireless ultrasound powering unit for implant devices in February 2024. These advancements improve patients’ compliance by increasing convenience and comfort, making PNS therapy more attractive to invest in, ultimately driving accelerated peripheral nerve stimulators market growth.
• Expanding applications in pain management: Peripheral nerve stimulator (PNS) devices are witnessing expanded use across a wide array of conditions, including post-surgical pain, migraines, and chronic nerve pain, which has significantly enhanced their market acceptance. Ongoing research and development efforts are further broadening their therapeutic applications, exploring their potential for treating other complex disorders. For instance, in August 2024, Neuros Medical received FDA approval for its Altius System to manage chronic post-amputation pain. Such continuous innovation and diversification in use are driving increased adoption, positioning PNS devices as versatile. Thus, propelling the peripheral nerve stimulators market.

Challenges

• High cost of devices and procedures: peripheral nerve stimulators (PNS) are known for their high costs, which include the expense of device procurement and surgical or implantation procedures required for their use. These financial challenges often deter patients, especially those without adequate insurance coverage, and healthcare facilities operating on tight budgets. In regions with limited healthcare funding or underdeveloped insurance systems, the affordability issue becomes a significant barrier, restricting access to PNS therapy and impeding market growth.
• Limited awareness among patients and providers: Despite the proven benefits of peripheral nerve stimulators, a significant number of patients and healthcare providers remain unaware of their effectiveness as a treatment for chronic pain and neurological conditions. This lack of awareness hampers the adoption of PNS devices, as many individuals continue to rely on traditional pain management methods. The limited knowledge about PNS as a viable alternative ultimately restricts the peripheral nerve stimulators market growth and prevents it from achieving widespread utilization