Peripheral Nerve Stimulators Market: Emerging Market Trends, Size, Share and Growth Analysis 2017 - 2025

Peripheral nerve stimulation is commonly known as PNS to treat chronic pain. PNS is a type of neuromodulation, and surgical procedure in which the stimulator or electrode is implanted in the body directly on nerves or under the skin in the region of pain. The peripheral nerve stimulator is known as a train-of-four monitor. The peripheral nerve stimulator is different from spinal cord stimulator as an implant is directly placed over the nerve at the targeted area. The peripheral nerve stimulation system is programmed on the consideration of frequency, pulse width, and pulse amplitude. These pulses stimulations feel like a mild tingling in the area where the pain is felt. The low voltage electrical impulses manage the intractable chronic and neuropathic pain. A peripheral nerve stimulator is also used to assess neuromuscular transmission when neuromuscular blocking agents (NMBAs) are used to block musculoskeletal activity. The increasing preference of minimally invasive surgeries resulted in the increasing demand of peripheral nerve stimulators and has become the growth opportunity for the market over a long run.  

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The global peripheral nerve stimulators market is expected to register a significant CAGR over a forecast period. The increasing trend of minimally invasive surgery (MIM) over the conventional open surgeries is the key factor, anticipated to propel the demand of peripheral nerve stimulation and drives the market over the forecast period. The spreading awareness by the healthcare professionals about the advantages of peripheral nerve stimulation procedures as a better pain management option is also expected to drive the growth of the global peripheral nerve stimulators market. The peripheral nerve stimulation procedures are less painful and help to fast recovery of disorders, which is expected to boost the demand and drives the growth of the global peripheral nerve stimulators market.

However, the stringent rules and regulations by the regulatory bodies such as Food and Drug Association (FDA) for approval of neurostimulator devices and indications, long innovation life-cycles and clinical challenges, may affect the growth of the global peripheral nerve stimulator market. The higher cost of treatment and devices, may also hinder the demand for peripheral nerve stimulators and restrain the growth of the market.

On the basis of regional presence, the global peripheral nerve stimulators market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. The North America is dominating and contributed the leading shares to the peripheral nerve stimulators market and anticipated to register a significant growth over a forecast period due to the technological advancement, developed medical infrastructure and reimbursement scenario. The Europe is also expected to contribute to moderate revenue market share and register a healthy growth rate in the global peripheral nerve stimulators market followed by North America. The APEJ has become the lucrative market for peripheral nerve stimulators and anticipated to register significant opportunities over the forecast period due to the increasing demand for minimally invasive surgeries in the region. The Latin America and MEA are at a nascent stage to the global peripheral nerve stimulators market and expected to show a moderate growth over a forecast period.

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Some of the major market players in peripheral nerve stimulators market globally include Medtronic Plc., Boston Scientific Corporation, St. Jude Medical, Advanced Bionics, BioControl Medical, Cardionomic, Envoy Medical, Holaira, Novum Therapeutics, Respicardia, and Uni-patch. The peripheral nerve stimulators market is currently witnessing a number of strategic collaboration and partnership activities by manufacturers and end users.

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