Status : Published Published On : Dec, 2023 Report Code : VRHC1008 Industry : Healthcare Available Format : Page : 141
2025
2030

Global Neurostimulation Devices Market – Analysis and Forecast (2025-2030)

Industry Insights by Product (Internal Neurostimulation Device (Spinal Cord Stimulation, Deep Brain Stimulation, Vagus Nerve Stimulation, Sacral Nerve Stimulation, Cochlear Implants, and Gastric Electrical Stimulation), External Neurostimulation Device (Transcranial Magnetic Stimulation and Transcranial Electric Nerve Stimulation)), by Application (Pain Management, Essential Tremor, Parkinson’s Disease, Hearing Loss, Urinary and Fecal Incontinence, Depression, Epilepsy, Gastroparesis, Dystonia and Others), and by Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The Global Neurostimulation Devices Market is predicted to grow at 12.6% CAGR during the forecast period with the market size reaching USD 16.2 billion by 2030. Neurostimulation is the technology to deliver low voltage electricity to a specific nerve or target in the spinal cord or brain to affect neuronal transmission. It is a therapeutic tool used to treat neuropathic pain or to modulate motor function and for a range of different diseases such as epilepsy, migraine, and Parkinson’s disease. The global neurostimulation devices market is growing at significant rate due to increasing prevalence of neurological diseases and growing geriatric population. The market has witnessed high demand for internal neurostimulation over the last few years, due to the increasing prevalence of neurological disorders.

Neurostimulation Devices Market Highlights

Market Segmentation

Insight by Product

There are two types of neurostimulation devices, internal and external. Of both, internal neurostimulation device market accounted for the major share in the global market, due to the increasing prevalence of the neurological disorder. The internal neurostimulation segment is further segmented into spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, cochear implant and gastric electrical stimulation. Spinal cord stimulation segment is estimated to account the largest share in the internal neurostimulation device market due to increasing awareness of spinal cord stimulator and increasing number of people suffering from chronic leg and back pain. The external neurostimulation segment is segmented into transcranial magnetic stimulation and transcranial electric nerve stimulation.

Insight by Application

The different applications of neurostimulation devices are pain management, essential tremor, Parkinson’s disease, urinary and fecal incontinence, depression, epilepsy, gastroparesis, hearing loss, dystonia and others. The pain management segment is estimated to account the largest share in the neurostimulation device market due to the increasing number of product launches and approvals of devices to reduce chronic pain. In addition, the epilepsy segment is expected to grow at the fastest rate due to the availability of new therapeutic procedures. According to the World Health Organization (WHO), globally approximately 50 million people have epilepsy and approximately 2.4 million people are diagnosed with epilepsy each year.

Global Neurostimulation Devices Market Report Coverage

Report Metric

Details

Historical Period

2018 - 2023

Base Year Considered

2024

Forecast Period

2025 - 2030

Market Size in 2023

U.S.D.  xx.x Billion

Revenue Forecast in 2030

U.S.D.  16.2 Billion

Growth Rate

12.6%

Segments Covered in the Report

By Product and By Application

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling

Regions Covered in the Report

North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World

Industry Dynamics

Growth Drivers

The growing prevalence of neurological disorders, increasing prevalence of lifestyle-associated diseases, robust product pipeline and mounting geriatric population are the primary growth drivers for the neurostimulation device market. Neuromodulation devices have shown to be very effective in treating Parkinson’s and other chronic illnesses induced by old age. According to the WHO, globally depression is a common mental disorder and approximately 300 million people of all age groups suffer from depression. Expanded target applications and new indications, increasing healthcare expenditure, increasing demand for minimally invasive surgeries, and increasing adoption of technologically advanced products are also fueling the growth of the neurostimulation devices market.

Increasing Prevalence of Neurological Disorders: Neurological disorders such as chronic pain, Parkinson's disease, epilepsy, and depression are becoming more prevalent globally. As the incidence of these conditions rises, the demand for neurostimulation devices as a treatment option also increases.

Growing Aging Population: The world's population is aging, leading to a higher prevalence of age-related neurological disorders. Neurostimulation devices offer a viable treatment option for elderly patients who may have limited tolerance for medications or are unresponsive to traditional therapies.

Patient Preference for Non-Pharmacological Treatment: Many patients prefer non-pharmacological treatment options due to concerns about potential side effects or addiction to medications. Neurostimulation devices offer an alternative approach to managing chronic pain and neurological disorders, providing patients with the opportunity to reduce reliance on medications.

Increasing Awareness and Acceptance: There has been a significant increase in public awareness about neurostimulation devices and their potential benefits. As more patients and healthcare professionals become aware of the therapeutic options available, there is greater acceptance and adoption of neurostimulation devices.

Challenges

The lack of trained professionals and unfavorable reimbursement scenarios are the major challenges to the growth of the neurostimulation device market. In addition, the availability of alternative options of treatment for neurological disorders and side effects and risks associated with neurostimulation therapy are also some of the factors hindering the growth of the market.

Neurostimulation devices may not be equally effective for all patients. Response variability exists, and it can be challenging to predict which patients will respond positively to neurostimulation therapy. Improving patient selection criteria and developing personalized treatment approaches are areas that require further research and development.

Industry Ecosystem

The key challenge for the new entrants is survival in capital intensive and highly regulated neurostimulation device market. However, various large neurostimulation companies can enter the neurostimulation device market through mergers and acquisitions of smaller companies.

Geographic Overview

Geographically, North America is the largest neurostimulation devices market as the region has a high prevalence of chronic diseases and a growing geriatric population. For instance, according to the Centers for Disease Control and Prevention (CDC), in 2015 approximately 23.1 million people in the U.S. had diabetes. In addition according to the National Institutes of Health, in the U.S. approximately one million people have Parkinson’s disease. As per the Alzheimer's Association in 2017, 5.5 million Americans had Alzheimer and about 5.3 million of this patient population’s age was 65 years or more. In addition, according to Alzheimer's Association, approximately 14 million people are expected to suffer from Alzheimer's in 2050.

Asia-Pacific is observed to witness the fastest growth in the market. The largest population, increasing prevalence of diabetes, growing geriatric population, and rising adoption of neurostimulation devices is creating a positive impact on the neurostimulation device market growth in the region.   

Competitive Insight

Key players in the neurostimulation device industry are investing in the development of innovative and advanced neurostimulation device products, which is strengthening their position in the market.  In September 2017, Medtronic, Inc. received FDA approval and launched the Intellis platform for the management of certain types of chronic intractable pain. Medtronic, Inc., Boston Scientific Corporation, Cyberonics, Inc., Nevro Corporation, Neurosigma, Inc., Neuropace, Inc., Cochlear Ltd., St. Jude Medical Inc., LivaNova PLC, Aleva Neurotherapeutics SA, Synapse Biomedical, Inc., Neuronetics, Inc. are some of the key players offering neurostimulation devices.

The Neurostimulation Devices Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.

  • By Product
    • Implantable/Internal Neurostimulation Device
      •  Spinal Cord Stimulators
      •  Deep Brain Stimulators
      •  Sacral Nerve Stimulators
      •  Gastric Electric Stimulators
      •  Vagus Nerve Stimulators
      •  Cochlear Implants
    • External Neurostimulation Device
      •  Transcutaneous Electrical Nerve Stimulators
      •  Transcranial Magnetic Stimulators
  • By Application
    • Dystonia
    • Pain Management
    • Depression
    • Epilepsy
    • Gastroparesis
    • Parkinson's Disease
    • Essential Tremor
    • Urinary & Fecal Incontinence
    • Others

Neurostimulation Devices Market by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • Indonesia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

 

Neurostimulation Device Market Size and Market Analysis

Source: VynZ Research

Frequently Asked Questions

Various large neurostimulation companies can enter the neurostimulation device market through mergers and acquisitions of smaller companies.
Geographically, North America is the largest neurostimulation device market as the region has a high prevalence of chronic diseases and the growing geriatric population.
Neurostimulation Device Market forecast period is (2025-2030)
The global neurostimulation device market size reaching USD 16.2 billion by 2030.
Key players in the neurostimulation device industry are investing in the development of innovative and advanced neurostimulation device products, which is strengthening their position in the market.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle

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