Press release
Neurostimulation Devices Market Outlook 2024: Exclusive Report By The Business Research Company | Medtronic plc, Cyberonics Inc., Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation
Neurostimulation Devices Market Size
The Business Research Company offers in-depth market insights through Neurostimulation Devices Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
The main products of the neurostimulation devices are implantable devices and external devices. The implantable devices involved are cochlear implants, deep brain stimulation; spinal cord stimulation, vagus nerve stimulation, sacral nerve stimulation, and gastric electric stimulation and the external devices are transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS). The various applications of implantable devices are pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, and Parkinson's disease that are used by various end-users such as hospitals, rehabilitation centres, and medical clinics.
Major Driver - Growing Neurostimulation Device Market Fueled By The Aging Global Population
The rising geriatric population across the globe is driving the growth of the neurostimulation device market. 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%.
Competitive Landscape:
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
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Top Trend - Advancements In Neurostimulation Devices: Minimally Invasive Treatments For Neurological Disorders
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. For example, Deep Brain Stimulation (DBS) is a minimally invasive surgical procedure to treat neurological symptoms of Parkinson's disease, including tremors, rigidity, and movement control. DBS uses a neurostimulation device, similar to a heart pacemaker, to deliver electrical pulses to a very precise location in the brain circuits that influence Parkinson's disease symptoms. The electrical pulses from the DBS device block the activity of these circuits so the rest of the brain can function more normally.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Neurostimulation Devices Market Characteristics
3. Neurostimulation Devices Market Trends And Strategies
4. Neurostimulation Devices Market - Macro Economic Scenario
5. Neurostimulation Devices Market Size And Growth
…..
27. Neurostimulation Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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