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Growing Neurostimulation Device Market Fueled By The Aging Global Population Emerges as a Core Driver of the Neurostimulation Devices Market in 2025
Neurostimulation Devices Market
What Is the Expected CAGR for the Neurostimulation Devices Market Through 2025?
In recent times, there has been a swift expansion in the market size of neurostimulation devices. The market is anticipated to escalate from $6.16 billion in 2024 to $6.86 billion in 2025, at a compound annual growth rate (CAGR) of 11.4%. Factors such as chronic pain management, the aging population, increased awareness and acceptance, along with a multidisciplinary approach can be credited for the growth observed in the historical period.
What's the Projected Size of the Global Neurostimulation Devices Market by 2029?
The market for neurostimulation devices is predicted to experience a significant expansion in the upcoming years, reaching an estimated value of $10.68 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.7%. This growth during the forecast period is due to factors such as the rise in minimally invasive procedures, emerging market development, regulatory backing and insurance reimbursements, as well as advancements in telehealth and remote monitoring practices. The major trends expected during this forecast period encompass personalised therapy approaches, wearable neurostimulation devices, progress in programming and connectivity, along with integrated therapies.
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Top Growth Drivers in the Neurostimulation Devices Industry: What's Accelerating the Market?
The expansion of the neurostimulation device market is being fueled by the escalating elderly population globally. There is a surge in the aged population, and such individuals are increasingly becoming victims of various neural disorders. As an example, the World Health Organization, a United Nations agency concerned with global health, asserted in October 2022 that by 2050, 80% of the senior population will inhabit low- to middle-income nations. Moreover, from 2015 to 2050, the percentage of the worldwide population aged over 60 is poised to almost double, progressing from 12% to 22%.
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Which Fast-Growing Trends Are Poised to Disrupt the Neurostimulation Devices Market?
New advancements are occurring in minimally invasive approaches for handling a variety of neurological conditions. Neurostimulation devices are being improvised to ensure least interference during treatment for neurological ailments. Deep Brain Stimulation (DBS), for instance, is a minimally invasive surgical operation employed to address neurological symptoms of Parkinson's disease such as tremors, rigidity, and movement regulation. DBS utilises a neurostimulation device, akin to a cardiac pacemaker, which administers electric pulses to a highly accurate area in the brain pathways impacting the symptoms of Parkinson's disease. The electric pulses generated by the DBS device suppress the activity of these pathways allowing the rest of the brain to operate more effectively.
What Are the Main Segments in the Neurostimulation Devices Market?
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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Which Top Companies are Driving Growth in the Neurostimulation Devices Market?
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 Regions Will Dominate the Neurostimulation Devices Market Through 2029?
North America was the largest region in the global neurostimulation devices market in 2024. 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.
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