How is the Peripheral Nerve Stimulators Market Poised for Growth: Trends and Opportunities Through 2034
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
What is the Predicted Annual Growth Rate of the Peripheral Nerve Stimulators Market Over the Coming Decade?
The size of the peripheral nerve stimulators market has seen significant growth in recent times. It is projected to increase from a market value of $0.70 billion in 2024 to an estimated $0.77 billion in 2025, showcasing a compound annual growth rate (CAGR) of 9.35%. The escalation during the historic period is a result of the surge in demand for non-drug related pain control solutions, growing insights into alternative pain alleviation therapies, heightened incorporation of minimally invasive processes, a swelling ageing populace, and an increase in the count of pain management clinics.
The market for peripheral nerve stimulators is predicted to experience substantial growth in the upcoming years, reaching a value of $1.08 billion in 2029 with a compound annual growth rate (CAGR) of 8.98%. The expansion in the projection time frame is linked to beneficial government policies and initiatives, increased adoption for outpatient and home-based care, a surge in pain management clinics, rising demand for personalized PNS devices, and enhancement in healthcare infrastructure. Key trends for the forecast period involve the creation of wireless peripheral nerve stimulators, the combination of mobile applications for distant monitoring of PNS devices, the launch of wearable, non-invasive PNS devices, and the presentation of advanced PNS systems equipped with AI-supported pain management capabilities.
Which Major Market Drivers Are Expected to Boost the Peripheral Nerve Stimulators Market’s Growth Potential?
The surge in neurological disorders is anticipated to fuel the expansion of the market for peripheral nerve stimulators. These disorders, which impact the brain, spinal cord, or peripheral nerves, lead to functional, structural, or biochemical abnormalities. The rise in these disorders is linked to several factors, including aging populations, genetic preconditions, environmental factors, lifestyle decisions, and elevated recognition and diagnosis of these conditions. Peripheral nerve stimulators have a critical function in lessening the occurrence of neurological disorders by offering targeted chronic pain relief, boosting motor function, and encouraging nerve regeneration in affected areas. For example, the Alzheimer’s Association, a US-based voluntary health non-profit, reported in March 2023 that around 6.7 million Americans aged 65 and above live with Alzheimer’s dementia. This figure is expected to increase to 13.8 million by 2060. Consequently, the climbing prevalence of neurological disorders is propelling the peripheral nerve stimulators market’s growth.
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What Are the Major Players Making an Impact in the Peripheral Nerve Stimulators Market’s Growth?
Major companies operating in the peripheral nerve stimulators market are:
• Abbott Laboratories_x000D_
• Medtronic plc_x000D_
• Boston Scientific Corp._x000D_
• Globus Medical Inc._x000D_
• Livanova plc_x000D_
Which Upcoming Trends Are Set to Influence the Peripheral Nerve Stimulators Market’s Path Forward?
Key businesses in the peripheral nerve stimulators market are concentrating their efforts on creating new products, such as ultra-miniaturized systems. These cutting-edge, tiny devices improve patient comfort, treatment results, and broaden usage in several therapeutic fields. Ultra-miniaturized systems are highly compact devices made for superior features, using modern technologies to amplify performance, flexibility, and compatibility across different applications. In a recent development in April 2023, NeuSpera Medical Inc., an implantable medical device manufacturer based in the US, announced reception of the U.S. Food and Drug Administration (FDA) approval for its next-gen Neuspera ultra-miniaturized system for lasting peripheral nerve pain management. This distinctive device delivers precise electrical pulses to peripheral nerves without traditional leads, making it minimally invasive and lessening the risk of complications related to lead-based devices. Given its small size, it’s easily implantable with minimal tissue damage, thus encouraging quicker recovery periods. The micro-implant also promises prolonged pain relief by directly triggering the affected nerve pathways, offering an advanced answer for those suffering from chronic peripheral nerve pain.
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Which Key Segments of the Peripheral Nerve Stimulators Market Are Poised for Growth and Innovation?
The peripheral nerve stimulators market covered in this report is segmented –
1) By Product: Transcutaneous, Percutaneous, Implantable
2) By Device: Stimulators, CPNB Catheters, Pain Pumps, Other Devices
3) By Mode of Purchase: Disposable Devices, Rechargeable Devices
4) By Application: Hospitals, Physiotherapy Centers, Ambulatory Surgical Centers, Clinics, Other Applications
Subsegments:
1) By Transcutaneous: TENS (Transcutaneous Electrical Nerve Stimulation) Units, Surface Electrodes
2) By Percutaneous: Single-Needle Percutaneous Stimulators, Multi-Needle Percutaneous Stimulators, Radiofrequency Percutaneous Stimulators
3) By Implantable: Spinal Cord Stimulators (SCS), Peripheral Nerve Stimulation (PNS) Devices, Neurostimulator Implants
What Regions Are Steering Growth in the Peripheral Nerve Stimulators Sector?
North America was the largest region in the peripheral nerve stimulators market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripheral nerve stimulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Peripheral Nerve Stimulators Market Classified and Defined in Market Analysis?
Peripheral nerve stimulators refer to medical devices designed to deliver electrical impulses to peripheral nerves in order to manage pain or improve motor function. They are used for treating chronic pain conditions, such as neuropathy, and for aiding in the rehabilitation of patients with nerve injuries or disorders by stimulating nerve activity.
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