Rising Prevalence Of Neurological Disorders Fuels Growth In The Peripheral Nerve Stimulators Market: An Emerging Driver Transforming The Peripheral Nerve Stimulators Market Landscape

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What Is the Projected Growth of the Peripheral Nerve Stimulators Market?
In the past few years, the market size for peripheral nerve stimulators has shown robust growth. The market is projected to rise from $0.70 billion in 2024 to $0.77 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.35%. This substantial growth during the historic period is primarily attributed to an escalating demand for non-pharmacological pain management options, heightened consciousness about alternate pain relief therapies, increased uptake of minimally invasive procedures, growing geriatric population and the surge in the number of pain management clinics.

Rapid expansion is forecasted in the peripheral nerve stimulators market over the few upcoming years, with an estimated value of $1.08 billion by 2029 a growth at a compound annual rate of 8.98%. The growth rate in this forecasted period can be credited to various factors such as accommodating government regulations and initiatives, a growing inclination towards outpatient and home-based treatments, an increasing number of pain management clinics, a rising demand for tailored PNS devices, and an expanding healthcare infrastructure. Significant trends for the forecast duration include the emergence of wireless peripheral nerve stimulators, the use of mobile applications for distant monitoring of PNS devices, the release of wearable, non-invasive PNS apparatus, and the inclusion of state-of-the-art PNS systems equipped with AI-powered pain management features.

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What Are the Different Peripheral Nerve Stimulators Market Segments?
The peripheral nerve stimulators market covered in this report is segmented -

1) By Product: Transcutaneous, Percutaneous, Implantable
2) By Device: Stimulators, CPNB Catheters, Pain Pumps, Other Devices
3) By Mode of Purchase: Disposable Devices, Rechargeable Devices
4) By Application: Hospitals, Physiotherapy Centers, Ambulatory Surgical Centers, Clinics, Other Applications

Subsegments:
1) By Transcutaneous: TENS (Transcutaneous Electrical Nerve Stimulation) Units, Surface Electrodes
2) By Percutaneous: Single-Needle Percutaneous Stimulators, Multi-Needle Percutaneous Stimulators, Radiofrequency Percutaneous Stimulators
3) By Implantable: Spinal Cord Stimulators (SCS), Peripheral Nerve Stimulation (PNS) Devices, Neurostimulator Implants

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What Are the Primary Drivers Shaping the Peripheral Nerve Stimulators Market?
The surge in neurological disorder cases is anticipated to stimulate the expansion of the peripheral nerve stimulators market. Neurological conditions that have an impact on the brain, spinal cord, or peripheral nerves, and result in functional, structural, or biochemical abnormalities, are on the rise. Factors like growing older populations, genetic predispositions, environmental factors, lifestyle decisions, and increased understanding and detection of these conditions contribute to the prevalence of neurological conditions. Peripheral nerve stimulators are instrumental in lowering neurological disorder prevalence by providing targeted chronic pain relief, improvement of motor function, and fostering nerve regeneration in impacted areas. For example, research from the Alzheimer's Association, a US-based nonprofit voluntary health organization, in March 2023, revealed approximately 6.7 million Americans aged 65 and older are battling Alzheimer's dementia in 2023, a figure predicted to soar to 13.8 million by 2060. Hence, the climbing prevalence of neurological disorders is fueling the growth of the peripheral nerve stimulators market.

Which Companies Are Leading in the Peripheral Nerve Stimulators Market?
Major companies operating in the peripheral nerve stimulators market are Abbott Laboratories, Medtronic plc, Boston Scientific Corp., Globus Medical Inc., Livanova plc, Nevro Corp., Axonics Modulation Technologies, Saluda Medical Pty Ltd., Stimwave Technologies Incorporated, Nalu Medical Inc., Bioness Inc., SPR Therapeutics Inc., Neuspera Medical Inc., B. Braun Melsungen AG, NeuroMetrix Inc., BioElectronics Corporation, Soterix Medical Inc., Xavant Technology Pty Ltd., Neurostimulation Technologies, STIM Systems

What Are the Major Trends Shaping the Acellular Dermal Matrices Market?
Key businesses in the peripheral nerve stimulators market are prioritizing the creation of inventive products like ultra-miniaturized systems. These systems aim to improve patient comfort levels, enhance treatment results, and introduce applications in a broad range of therapeutic areas. Ultra-miniaturized systems denote compact, small-sized devices engineered for superior functionality, usually using innovative technologies to improve performance, portability, and integration across diverse uses. Take for example, NeuSpera Medical Inc., an implantable medical devices manufacturer from the US. In April 2023, it declared that it had obtained clearance from the U.S. Food and Drug Administration (FDA) for their Neuspera ultra-miniaturized system's next version designed for managing chronic peripheral nerve pain. The device is specifically built to provide targeted electrical impulses to peripheral nerves without employing traditional leads. This makes it minimally invasive and decreases the complications linked to lead-based gadgets. Due to its compact size, it is easy to implant with minimum tissue disturbance thus promoting quicker recovery times. The micro-implant's direct stimulation of the affected nerve pathways potentially provides sustained pain relief, offering a superior solution for patients grappling with chronic peripheral nerve pain.

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What Are the Top Revenue-Generating Geographies in the Peripheral Nerve Stimulators Market?
North America was the largest region in the peripheral nerve stimulators market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripheral nerve stimulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Peripheral Nerve Stimulators Market?
2. What is the CAGR expected in the Peripheral Nerve Stimulators Market?
3. What Are the Key Innovations Transforming the Peripheral Nerve Stimulators Industry?
4. Which Region Is Leading the Peripheral Nerve Stimulators Market?

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