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Neurostimulation Devices Market Analysis, Trends, Growth, Research And Forecast 2033
Neurostimulation Devices Market
The Business Research Company's Neurostimulation Devices Global Market Report 2024 identifies the rising geriatric population across the globe as the major driver for the neurostimulation devices market's growth in the forecast period. An increasing number of the population is aging, and this geriatric population is falling prey to different neurobiological disorders. For instance, in October 2022, WHO, a specialized agency of the United Nations responsible for international public health stated that in 2050, 80% of older people will be living in low- and middle-income countries. Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%.
The neurostimulation devices market size has grown rapidly in recent years. It will grow from $6.34 billion in 2023 to $6.98 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to chronic pain management, aging population, awareness and acceptance, multidisciplinary approach.
The neurostimulation devices market size is expected to see strong growth in the next few years. It will grow to $10.12 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to minimally invasive techniques, emerging markets growth, regulatory support and reimbursement, telehealth and remote monitoring. Major trends in the forecast period include personalized therapy, wearable neurostimulation devices, advanced programming and connectivity, combination therapies.
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Major competitors in the neurostimulation devices market are 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.
A key trend in the neurostimulation devices market includes technological advancement. Major companies operating in the neurostimulation devices market are developing technological products such as the eterna spinal cord stimulation (SCS) system for the treatment of chronic pain. The Eterna spinal cord stimulation (SCS) system is the smallest implantable, rechargeable spinal cord stimulator. For instance, in December 2022, Abbott Laboratories, a US-based company engaged in medical devices and health care, launched the Eterna spinal cord stimulation (SCS) system for the treatment of chronic pain. The Eterna SCS system features Abbott's proprietary BurstDR stimulation, which mimics natural firing patterns found in the brain7 to deliver superior pain relief. BurstDR stimulation is preferred to traditional 'tingling' tonic stimulation by 87% of patients.
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The neurostimulation devices market is segmented -
• By Product: Implantable Devices, External Devices
• By Application: Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson's Disease
• By End User: Hospitals, Rehabilitation Centers, Medical Clinic
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the neurostimulation devices market.
The Business Research Company's "Global Neurostimulation Devices Market Report 2024" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Neurostimulation Devices Market Include:
1. Executive Summary
2. Neurostimulation Devices Market Characteristics
3. Neurostimulation Devices Market Trends And Strategies
4. Neurostimulation Devices Market - Macro Economic Scenario
5. Global Neurostimulation Devices Market Size and Growth
……
31. Global Neurostimulation Devices Market Competitive Benchmarking
32. Global Neurostimulation Devices Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Neurostimulation Devices Market
34. Neurostimulation Devices Market Future Outlook and Potential Analysis
35. Appendix
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