Exploring Key Insights of the Neurostimulation Devices Market: Growth Prospects, Emerging Trends, and Opportunities
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How has the neurostimulation devices market grown over the years?
In recent times, the market size for neurostimulation devices has seen significant growth. The market, which had a worth of $6.3 billion in 2024, is projected to increase to $7.1 billion in 2025, growing at a compound annual growth rate (CAGR) of 12.6%. Factors that contributed to the growth during the historic period include chronic pain management, an increasing elderly population, raised awareness and acceptance, and a multidisciplinary approach.
What Is the forecasted market size and growth rate for the neurostimulation devices market?
The market for neurostimulation devices is anticipated to experience substantial growth in the coming years, with projections suggesting a valuation of $11.18 billion by 2029, escalating at a compound annual growth rate (CAGR) of 12.0%. This expected expansion during the forecast period is linked to factors such as the adoption of minimally invasive methodologies, emerging market development, regulatory backing and insurance reimbursements, as well as the growing trend of telehealth and remote supervision. Key trends to watch out for during this period are personalized treatment options, wearable neurostimulation devices, advanced programming techniques, and combined therapy practices.
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What are the major factors driving growth in the neurostimulation devices market?
The neurostimulation device market is witnessing growth, attributed primarily to the escalating elderly population worldwide. With a larger part of the population aging, there is a marked increase in the prevalence of various neurobiological disorders among them. For instance, the World Health Organization, a specialized agency of the United Nations focused on global public health, declared in October 2022 that by 2050, low-and-middle-income countries will host 80% of the older demographic. It also projected that the percentage of the global population aged above 60 years will almost double, increasing from 12% in 2015 to 22% by 2050.
What key areas define the segmentation of the global neurostimulation devices Market?
The neurostimulation devices market covered in this report is segmented –
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
Subsegments:
1) By Implantable Devices: Spinal Cord Stimulators (SCS), Deep Brain Stimulators (DBS), Vagus Nerve Stimulators (VNS), Sacral Nerve Stimulators (SNS)
2) By External Devices: Transcranial Magnetic Stimulation (TMS) Devices, Transcranial Direct Current Stimulation (tDCS) Devices, Cranial Electrotherapy Stimulation (CES) Devices
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What are the top market players propelling the growth of the neurostimulation devices industry?
Major companies operating in the neurostimulation devices market include Medtronic plc, Cyberonics Inc., Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Neuronetics Inc., NeuroPace Inc., NeuroSigma Inc., Cochlear Ltd., NDI Medical LLC, Synapse Biomedical Inc., MED-EL, LivaNova PLC, DePuy Synthes Inc., Aleva Neurotherapeutics, BrainsWay, Cortec Corporation, Endonovo Therapeutics Inc., Inspire Medical Systems Inc., The Magstim Company Limited, Mainstay Medical Limited, MicroTransponder Inc., MindMaze, NeuroMetrix, Nexeon MedSystems, Nuvectra, Saluda Medical, SPR Therapeutics Inc., Uro Medical Corporation
What are the key trends shaping the future of the neurostimulation devices market?
The creation of minimally invasive solutions for the treatment of a range of neurological disorders is underway. Neurostimulation devices are being innovated to ensure least intrusive procedures during neurological treatments. Take Deep Brain Stimulation (DBS) as an instance, it is a less invasive surgical operation intended for addressing Parkinson’s disease symptoms such as tremors, rigidity, and movement control. DBS employs a neurostimulation contraption, akin to a heart pacemaker, to send electrical pulses to a highly precise spot in the brain circuits associated with Parkinson’s disease symptoms. The electrical pulses from the DBS device inhibit the operation of these circuits enabling the remainder of the brain to work more typically.
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What regions are dominating the neurostimulation devices market growth?
North America was the largest region in the global neurostimulation devices market in 2023. Asia-Pacific was the second-largest region in the neurostimulation devices market. The regions covered in the neurostimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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