Neurostimulation Devices Market Projected to Reach USD 23.63 Billion by 2034, Growing at a CAGR of 12.7%

The global neurostimulation devices market is anticipated to grow significantly, according to the newly published research report by Polaris Market Research. The market was valued at USD 7.16 billion in 2024 and is projected to grow to USD 23.63 billion by 2034. This growth signifies a robust compound annual growth rate (CAGR) of 12.7% over the forecast period 2025-2034.

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Market Overview:
Neurostimulation includes utilizing electric impulses to stimulate particular nerves or regions in the body responsible for dispatching pain signals to the brain. Neurostimulation devices come in several configurations, each designed to target varied nerves and regions in the body. Spinal cord stimulation (SCS), for instance, is a technique that includes the positioning of a compact device that transfers low-voltage electrical currents to the spinal cord, efficiently intervening pain signals prior to them reaching the brain.

Market Drivers:
Growing Cases of Neurological Illnesses: The growing cases of neurological illnesses notably push the industry. For instance, as per a March 2024 report from a Global Burden of Disease, 3.4 billion people were impacted by nervous system conditions in 2021, spanning from stress-type headaches and migraines to strokes or dementia. This elevated existence underscores the growing demand for productive cure procedures, spiralling the neurostimulation devices market growth.

Technological Progressions: Neurostimulation technology inventions have significantly improved the efficiency and appeal of neurostimulation devices. The advancement of adaptive deep brain stimulation (DBS) systems that adapt electrical stimulation in real time dependent on neural activity exemplifies this advancement.

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Key Players:
The market is fragmented in nature because of the existence of many firms functioning globally. Major companies are noted below:
• Abbott Laboratories
• Aleva Neurotherapeutics
• Boston Scientific Corporation
• Cognito Therapeutics
• ElectroCore, Inc.
• LivaNova PLC
• Medtronic plc
• Nalu Medical, Inc.
• Neuronetics, Inc.
• NeuroPace, Inc.
• Nevro Corp.
• Synapse Biomedical Inc

Segment Wise Insights:
The neurostimulation devices market is segmented based on application, devices, and region.

Based on application, the pain management segment dominates the market owing to the extensive existence of detrimental pain conditions such as neuropathic pain and failed back surgery syndrome, where neurostimulation provides impactful options for conventional therapies.

Based on devices, the spinal cord stimulators segment holds the largest revenue share due to their extensive usage in handling detrimental neuropathic pain. These devices operate by transferring electrical impulses to the spinal cord, productively masking pain indications, and offering relief to patients unresponsive to traditional therapies.

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By Application Outlook (Revenue - USD Billion, 2020-2034)
• Pain Management
• Epilepsy
• Essential Tremor
• Urinary & Faecal Incontinence
• Depression

By Devices Outlook (Revenue - USD Billion, 2020-2034)
• Spinal Cord Stimulator
• Deep Brain Stimulator
• Sacral Nerve Stimulator
• Vagus Nerve Stimulator
• Gastric Electric Stimulator

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Regional Outlook:
• North America
o US
o Canada

• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe

• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Rest of Asia Pacific

• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa

• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America

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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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