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What key factors are powering the surge in the implantable neurostimulators market right now?

Recent years have witnessed a quick expansion in the market for implantable neurostimulators. It is projected to escalate from $6.06 billion in 2024 to $6.76 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.4%. The historical growth is credited to several factors including the surge in chronic pain cases, a growing elderly population, better reimbursement policies, government subsidies and aid, and widening indications.

How fast Is the implantable neurostimulators market expected to grow, and what’s its future value?

In the coming years, the market size for implantable neurostimulators is anticipated to expand rapidly. The market is projected to reach a value of $10.31 billion in 2029, growing at an annual compound growth rate (CAGR) of 11.1%. The increase during the prediction period can be ascribed to the growing prevalence of neurological conditions, the enhancement of minimally invasive techniques, the rise in healthcare expenditure, the escalating demand for non-opioid pain management, as well as collaborations and partnerships. Key trends forecasted for this period comprise technological advancements, expansion beyond chronic pain, downsizing and AI-powered customization, remote supervision and digital therapeutics, and product innovation.

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What are the leading drivers of growth in the implantable neurostimulators market?

The escalation in the occurrence of neurological conditions, diseases that impact the nervous system including the brain and spinal cord, is predicted to catalyze the expansion of the implantable neurostimulators market. The growth in such disorders is predominantly attributed to an aging population, as increased life expectancy opens up people to diseases like Alzheimer’s and Parkinson’s. Neurostimulators, which are inserted devices that transmit electrical impulses to manage symptoms like tremors and pain in cases like epilepsy and Parkinson’s, are becoming increasingly relevant. For instance, in October 2023, the World Federation of Neurology, an association of national neurological societies located in the UK, reported that over 40% of the worldwide population is presently dealing with some form of neurological disorder. This figure is anticipated to almost double by 2050. Consequently, the mounting occurrence of neurological disorders fuels the development of the implantable neurostimulators market.

What are the key segments defining the implantable neurostimulators market?

The implantable neurostimulators market covered in this report is segmented –

1) By Product Type: Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Other Product Types

2) By Application: Pain Management, Parkinson’s Disease, Urinary And Fecal Incontinence, Epilepsy, Gastroparesis, Other Applications

3) By End-Use: Hospitals, Ambulatory Surgical Centers (ASCs), Other End-Uses

Subsegments:

1) By Spinal Cord Stimulators: Conventional Spinal Cord Stimulators, Rechargeable Spinal Cord Stimulators, Non-Rechargeable Spinal Cord Stimulators, High-Frequency Spinal Cord Stimulators

2) By Deep Brain Stimulators: Single Lead Deep Brain Stimulators, Dual Lead Deep Brain Stimulators, Rechargeable Deep Brain Stimulators, Non-Rechargeable Deep Brain Stimulators

3) By Sacral Nerve Stimulators: Rechargeable Sacral Nerve Stimulators, Non-Rechargeable Sacral Nerve Stimulators, Implantable Pulse Generators for Sacral Nerve Stimulation

4) By Vagus Nerve Stimulators: Rechargeable Vagus Nerve Stimulators, Non-Rechargeable Vagus Nerve Stimulators, Vagus Nerve Stimulation Systems for Epilepsy Treatment

5) By Other Product Types: Transcranial Magnetic Stimulation (TMS) Devices, Peripheral Nerve Stimulators, Cochlear Implants

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Who are the key players steering the development of the implantable neurostimulators market?

Major companies operating in the implantable neurostimulators market are Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, LivaNova plc, Inspire Medical Systems Inc., Nevro Corporation, Axonics Inc., Cirtec Medical Systems LLC, SPR Therapeutics Inc., BlueWind Medical Ltd., NeuroPace Inc., Bioness Inc., ReShape Lifesciences Inc., Synapse Biomedical Inc., Autonomic Technologies Inc., Comphya SA, Mainstay Medical Holdings plc, Sigenics Inc., Nalu Medical Inc., Aleva Neurotherapeutics SA, Nuvectra Corporation

What emerging trends are influencing the growth of the implantable neurostimulators market?

Leading enterprises in the implantable neurostimulators market are innovating with advanced technology, such as rechargeable spinal cord stimulators, aiming to increase patient convenience, streamline surgical procedures and further the effectiveness of pain relief treatments. Rechargeable spinal cord stimulators, which are implantable apparatus, function to alleviate chronic pain by transmitting electrical pulses to the spinal cord. For example, in December 2022, Abbott Laboratories, known for producing healthcare products in the US, gained approval from the US Food and Drug Administration (FDA) for their Eterna spinal cord stimulation (SCS) system. Notably, it is the tiniest rechargeable device specially built for chronic pain mitigation. The device uses Abbott’s unique BurstDR stimulation feature, which duplicates natural brain wave patterns, thereby offering a 23% higher success rate in pain reduction compared to conventional methods. Thanks to Abbott’s Xtend energy technology, the device merely needs five charges annually, reducing the burden of frequent recharging. The Eterna SCS system is also MRI compatible and is designed to accommodate future upgrades.

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Which regions are most influential in expanding the implantable neurostimulators market?

North America was the largest region in the implantable neurostimulators market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the implantable neurostimulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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