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The neurostimulation devices market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 9%, as per The Business Research Company’s market report!

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The Neurostimulation Devices Market Size In 2022 And Forecast

The global neurostimulation devices market grew from $5.07 billion in 2021 to $5.7 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The neurostimulation device market is expected to grow to $8.08 billion in 2026 at a CAGR of 9.1%.

The neurostimulation devices market consists of sales of surgically or externally placed neurostimulators and related services.

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Rise In Geriatric Population Globally Is Driving The Growth Of The Neurostimulation Devices Market

For instance, according to the World Population Ageing Report, in 2019, there were an estimated 702.9 million people aged 65 or over globally. According to the population reference bureau, the number of Americans aged 65 and older is projected to be over 98 million by 2060.

Competitive Landscape And The Regional Analysis Of The Neurostimulation Devices Market

Major players in the neurostimulation devices market are Medtronic, Cyberonics, Boston Scientific Corporation, St. Jude Medical, Nevro Corporation, Neuronetics Inc, NeuroPace Inc, NeuroSigma Inc, Cochlear Ltd, and NDI Medical.

Additionally, as per TBRC’s research – North America was the largest region in the neurostimulation devices market in 2021 holding the largest market share.

The Neurostimulation Devices Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the neurostimulation devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the neurostimulation devices market.

Developing The Treatment Of Various Neurological Disorders – A Key Trend In The Neurostimulation Devices Market

Minimally invasive treatments are being developed for the treatment of various neurological disorders. The neurostimulation devices are being innovated in a way to cause minimum invasion during neurological treatments.

Neurostimulation Devices Market Segmentation By The Business Research Company

1) By Product : Implantable Devices, External Devices

2) By Application: Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease

3) By End User: Hospitals, Rehabilitation Centers, Medical Clinic

4) By Implantable Devices: Cochlear Implants, Deep Brain Stimulation, Spinal Cord Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Gastric Electric Stimulation 5) By External Devices: Transcranial Magnetic Stimulation (TMS), Transcutaneous Electrical Nerve Stimulation (TENS)

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