Press release
Emerging Neurostimulation Devices Market Trend 2025-2034: Advancements In Minimally Invasive Treatments For Neurological Disorders
The market for neurostimulation devices has seen swift growth in the past years. The market is projected to expand from $6.3 billion in 2024 to $7.1 billion in 2025, with a compound annual growth rate (CAGR) of 12.6%. Factors such as chronic pain management, an aging population, increasing awareness and acceptance, and a multidisciplinary approach contributed to its growth during the historic period.
Over the coming years, a quick expansion is anticipated in the neurostimulation devices market, which is predicted to reach a value of $11.18 billion by 2029, with a compound annual growth rate (CAGR) of 12.0%. The growth during the predicted timeframe can be ascribed to the adoption of minimally invasive methods, rise of emerging markets, favorable regulatory and reimbursement conditions, as well as telehealth and remote monitoring. Key trends shaping the outlook period include the adoption of personalized therapies, wearable neurostimulation devices, enhanced programming and connectivity, and combination therapies.
What Are the Key Drivers Behind the Growth of the Neurostimulation Devices Market?
The global increase in the elderly population is fueling the expansion of the neurostimulation device market. The aging population is progressively falling victim to various neurobiological disorders as the number increases. In October 2022, the World Health Organization, a UN agency dedicated to global public health, announced that by 2050, 80% of the elderly will be residing in low- to middle-income countries. From 2015 to 2050, the percentage of the global population over the age of 60 is predicted to rise from 12% to 22%, almost doubling.
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Who Are the Major Industry Players Fueling Neurostimulation Devices Market Expansion?
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
Which Key Developments Are Influencing the Neurostimulation Devices Market?
There are advances being made in creating less intrusive solutions for the management of diverse neurological conditions. There is an ongoing innovation in the area of neurostimulation devices, aiming to minimize invasion during treatments for neurological issues. An illustration of this is Deep Brain Stimulation (DBS), which is a surgical procedure with minor intrusion, designed for the treatment of Parkinson's disease symptoms such as tremors, stiffness, and control of movement. DBS takes advantage of a neurostimulation apparatus, similar to a heart pacemaker, which emits electrical waves to a highly exact location in the brain circuits impacting the symptoms of Parkinson's disease. The electric waves generated by the DBS device hinder these circuits' functionality, enabling other parts of the brain to operate more efficiently.
How Is the Segmentation of the Neurostimulation Devices Market Defined?
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 Is the Leading Region in the Neurostimulation Devices Market?
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.
What Is Covered In The Neurostimulation Devices Global Market Report?
- Market Size Analysis: Analyze the Neurostimulation Devices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Neurostimulation Devices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Neurostimulation Devices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Neurostimulation Devices Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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