Neurostimulation Devices Market 2022 to Expand at Double Digit CAGR Through 2025-Technological Advancements Boost Market Growth

Neurostimulation is a medical treatment that uses electrical or magnetic signals to stimulate the nerves or brain to help manage a variety of neurological and psychiatric disorders. Neurostimulation devices are designed to deliver these signals to specific areas of the body in order to modify the activity of nerve cells and improve symptoms. The neurostimulation devices market is expected to grow in the coming years due to the increasing prevalence of neurological and psychiatric disorders, as well as the growing adoption of neurostimulation devices for a variety of indications.

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Some of the major players in the neurostimulation devices market:

Medtronic plc, St. Jude Medical, Inc.
Boston Scientific Corporation.
Cyberonics, Inc.
Cochlear, Ltd.
NDI Medical, LLC.
NeuroPace, Inc.
MED-EL.
NeuroSigma, Inc.
Other.

Some of the key factors driving the growth of the neurostimulation devices market include:

Rising prevalence of neurological and psychiatric disorders: There is a growing prevalence of neurological and psychiatric disorders such as Parkinson's disease, epilepsy, chronic pain, and depression, which is driving the demand for neurostimulation devices.
Technological advancements: The development of advanced neurostimulation devices with improved capabilities and longer battery life is driving the growth of the market.
Increasing adoption of neurostimulation devices: There is a growing trend towards the use of neurostimulation devices for a variety of indications, including the treatment of chronic pain, depression, and Parkinson's disease.
Growing geriatric population: The aging population is more prone to neurological and psychiatric disorders, which is driving the demand for neurostimulation devices.
Government initiatives and funding: Governments around the world are investing in research and development in the field of neurostimulation, which is driving the growth of the market.

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The neurostimulation devices market can be segmented based on product type, application, and end user. Based on product type, the market can be segmented into deep brain stimulation devices, spinal cord stimulation devices, vagus nerve stimulation devices, and transcranial magnetic stimulation devices. Based on application, the market can be segmented into chronic pain, epilepsy, Parkinson's disease, depression, and others. Based on end user, the market can be segmented into hospitals, ambulatory surgical centers, and others.

The key players operating in the neurostimulation devices market include Boston Scientific Corporation, Medtronic plc, St. Jude Medical, Inc., NeuroPace, Inc., and Cyberonics, Inc.

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Segment Analysis

The global neurostimulation devices market has been classified into device type, by application and by region.

On the basis of device type, the market is segmented into implantable device and external device. In addition, the implantable device segment is further sub-segmented into, cochlear implants (CI), sacral nerve stimulation (SNS), gastric electric stimulation (GES), deep brain stimulation (DBS), vagus nerve stimulation (VNS) and spinal cord stimulation (SCS).

The external device segment is bifurcated into transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS). Based on application, the market is segmented into parkinson's disease, epilepsy, urinary and fecal incontinence, gastroparesis, pain management, hearing loss and depression.

- Table of Content -

Chapter 1. Preface11

    1.1. Report Description11

    1.2. Research Methodology12

    1.3. Assumptions13

Chapter 2. Market Synopsis14

Chapter 3. Porter's Five Forces Analysis16

    3.1. Bargaining Power of Suppliers16

    3.2. Bargaining Power of Buyers17

    3.3. Threat of New Entrants17

    3.4. Threat of Substitutes17

    3.5. Intensity of Rivalry18

Chapter 4. Industry Overview19

    4.1. Market Definition19

    4.2. Market Drivers20

        4.2.1. Increasing prevalence of chronic pain20

        4.2.2. Rise in incidence of neurological disorders21

        4.2.3. Rising awareness about mental diseases and their treatment21

        4.2.4. Growing aging population22

        4.2.5. Increasing R&D investments in novel and innovative neurostimulation devices developments23

        4.2.6. Increasing demand for minimally invasive treatment24

    4.3. Impact Analysis of Market Drivers25

    4.4. Market Restraints26

        4.4.1. Availability of alternative treatment therapies for neurological diseases26

        4.4.2. Side-effects of neurostimulation devices26

    4.5. Impact Analysis of Market Restraints27

    4.6. Opportunities27

        4.6.1. Emerging markets hold major potential27

Chapter 5. Global Market Size and Forecast28

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