New York, United States, July 11, 2022 (GLOBE NEWSWIRE) -- Neurostimulation devices assist patients suffering from chronic pain by decreasing symptoms that often arise from a wide range of disorders. These devices disrupt signals travelling throughout the body to alleviate pain. Unlike a wide range of pain therapies, neurostimulation devices can be used to target the area of the body which is directly affected.
Get a Free Sample Copy of this Report: https://straitsresearch.com/report/neurostimulation-devices-market/request-sample
Rising Geriatric Population Coupled with Technological Advancements to Bolster Growth
The UN Department of Economic and Social Affairs noted a population change from 7.7 billion to 9.7 billion by 2050. This, in turn allowed for a proportionate increase in geriatric population regarding Parkinson’s and Alzheimer’s disease. This gives the global neurostimulation devices market a sizeable consumer base to navigate. Increasing R&D activities aimed at developing new products and advanced technologies will further increase the footprint of the market. Additional developments for deep brain stimulation, spinal cord stimulation, sacral nerve stimulation, and vagus nerve stimulation will further aggravate the market to a positive outlook.
The WHO states that in 2019 over 50 million people globally suffered from epilepsy. Also, the American Headache Society noted that nearly 39 million Americans and a billion people worldwide suffered from migraines in 2019. These factors contribute to the growth of the global neurostimulation devices market during the forecast period. Rising incidences of lifestyle-induced disorders leading to a surge in cardiovascular disorders will further add to the incremental growth.
Report Scope
| Report Metric | Details |
| Market Size | USD 14 Billion by 2030 |
| CAGR | 13% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | USD Billion |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application and Geography |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Medtronic, Jude Medical (Abbott), Boston Scientific Corporation, Cyberonics Inc., Nevro Corporation, Neuronetics Uroplasty Inc, Codman & Shurtleff, Intrapace Inc |
| Market Restraints | Risks Associated with Neurostimulation Devices and Stringent Device Approvals to Hinder Market Growth |
| Key Market Drivers | Increasing Geriatric Population and Rising Technological Advancements to Augment Market Value |
Buy now: https://straitsresearch.com/buy-now/neurostimulation-devices-market
COVID-19 Impact on the Market
The global pandemic disrupted global trade practices by disrupting trade routes and forcing countries to impose nationwide lockdowns during the forecast period. As supply chains were shattered, a gap in the demand-supply chain immediately emerged. During the initial stages of the pandemic, a fragmented workforce was forced to work at less-than-optimal capacity, due to which players in the market reported a low amount of production.
The constant lockdowns decreased in-patient visits to the hospitals, further lowering the scope of the market. Non-COVID-19 procedures were put on backtrack, with a majority of the resources being allocated to setting COVID-19 infrastructure. Volatility in raw material pricing further cut the value of the global neurostimulation devices market.
Regional Analysis for the Global Neurostimulation Devices Market
The market in North America is expected to hold the largest market share a value of USD 4,858 million in 2021, and will grow an estimated value of USD 10,027 million in 2030. It is expected to grow at a CAGR of 12%. Rising incidences of depression and epilepsy in the region will contribute to the segmental growth during the forecast period. The U.S. will account for the largest contributor to the market in North America, with a value of USD 468 million in 2021 and an estimated value of USD 8,326 million in 2030.
The Asia-Pacific neurostimulation device market will grow at a CAGR of 16% during the forecast period and will grow from a value of 926 million in 2021 to an estimated value of USD 4,327 million in 2030. Factors such as lucrative opportunities in emerging economies such as China and India, technological advancements, and increasing healthcare expenditure will contribute to the regional growth.
Europe had a market value of USD 1,348 million in 2021 and will grow at an estimated market value of USD 3,143 million in 2030 at a CAGR of 14%. The market in Germany will account for a market value of USD 237 million in 2021 and will grow to a value of USD 527 million in 2030 at a CAGR of 14%.
Latin America will have a moderate growth with an estimated value of USD 574 million in 2030 and will grow at a CAGR of 15% during the forecast period.
List of Top Neurostimulation Devices Market Manufacturers
- Medtronic
- Jude Medical (Abbott)
- Boston Scientific Corporation
- Cyberonics Inc.
- Nevro Corporation
- Neuronetics
- Uroplasty Inc
- Codman & Shurtleff
- Intrapace Inc
Key Highlights
- The global neurostimulation devices market was valued at USD 6 billion in 2021 and is valued at USD 14 billion by 2030. The market is expected to grow at a CAGR of 13% during the forecast period (2022–2030).
- Based on product, the market is segmented into spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, and gastric electric stimulator. Spinal cord stimulator had an estimated market value of USD 8,148 million in 2030.
- Based on application, the market can be divided into pain management, essential tremor, epilepsy, urinary and fecal incontinence, depression, dystonia, gastroparesis, Parkinson’s disease, and others with pain management occupying the largest market share with as estimated value of USD 10,142 million by 2030.
- Geographically, the market can be categorized into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa with North America holding the largest market share with an estimated value of USD 10,027 million in 2030.
Get a Free Sample Copy of this Report: https://straitsresearch.com/report/neurostimulation-devices-market/request-sample
Market News
- February 2022 – Precisis announced that it received the US FDA approval for its breakthrough device designation for minimally invasive epilepsy treatment EASEE.
- Jan 2021 – Abbott announced the upcoming launch of NeusoSphere myPath which is aimed to track and report on patient perceived pain relief and general well-being associated with conditions related to spinal cord stimulation (SCS).
- January 2020 – Medtronic announced its European launch of brain signal-recording neurostimulation for Parkinson’s disease.
- January 2020 – Medtronic plc announced the acquisition of Stimgemics, LLC. It is known for pioneering a novel spinal cord stimulation (SCS) waveform that is known as differential target multiplexed spinal cord stimulation.
- June 2018 – Medtronic Inc. announced that it received FDA approval for its Deep Brain Stimulation and Activa Programming Application. This application can be managed by the Samsung Galaxy Tab S2 tablet.
- January 2018 – Abbott announced the European launch of DRG neurostimulation systems that are designed for delivering dorsal root ganglion stimulation for patients suffering from chronic neuropathic pain.
- January 2018 – Nevro Corporation announced that it received FDA approval for Senza II spinal cord stimulation (SCS) system delivering HF10 therapy that are aimed for treating chronic pain.
Global Neurostimulation Devices Market: Segmentation
By Product
- Spinal Cord Stimulator
- Deep Brain Stimulator
- Sacral Nerve Stimulator
- Vegus Nerve Stimulator
- Gastric Electric Stimulator
By Application
- Pain Management
- Epilepsy
- Essential Tremor
- Urinary and Fecal Incontinence
- Depression
- Gastroparesis
- Parkinson’s Disease
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview and Dynamics
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: Global Neurostimulation Device Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitution
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Market Share Analysis
3.6 Technological Landscape
3.7 Impact of COVID-19 on Global Neurostimulation Device Market
4 Product Overview
4.1 Introduction
4.1.1 Market Size & Forecast (Value)
4.2 Spinal Cord Stimulators
4.2.1 Market Size & Forecast (Value)
4.3 Deep Brain Stimulators
4.3.1 Market Size & Forecast (Value)
4.4 Sacral Nerve Stimulators
4.4.1 Market Size & Forecast (Value)
4.5 Vagus Nerve Stimulators
4.5.1 Market Size & Forecast (Value)
4.5 Gastric Electric Stimulators
4.5.1 Market Size & Forecast (Value)
5 Application Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value)
5.2 Pain Management
5.2.1 Market Size & Forecast (Value)
5.3 Epilepsy
5.3.1 Market Size & Forecast (Value)
5.4 Essential Tremor
5.4.1 Market Size & Forecast (Value)
5.5 Urinary and Fecal Incontinence
5.5.1 Market Size & Forecast (Value)
5.6 Hearing Loss
5.6.1 Market Size & Forecast (Value)
5.7 Depression
5.7.1 Market Size & Forecast (Value)
5.8 Dystonia
5.8.1 Market Size & Forecast (Value)
5.9 Parkinson's Disease
5.9.1 Market Size & Forecast (Value)
5.10 Others
5.10.1 Market Size & Forecast (Value)
6 Regional Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value)
6.2 America
6.2.1 North America
6.2.1.1 The U.S.
6.2.1.1.1 By Product
6.2.1.1.2 By Application
6.2.1.2 Canada
6.2.1.2.1 By Product
6.2.1.2.2 By Application
6.2.2 Central and South America and the Caribbean
6.2.2.1 By Product
6.2.2.2 By Application
6.3 Europe
6.3.1 Market Size & Forecast (Value)
6.3.2 Western Europe
6.3.2.1 The U.K.
6.3.2.1.1 By Product
6.3.2.1.2 By Application
6.3.2.2 Germany
6.3.2.2.1 By Product
6.3.2.2.2 By Application
6.3.2.3 France
6.3.2.3.1 By Product
6.3.2.3.2 By Application
6.3.2.4 Spain
6.3.2.4.1 By Product
6.3.2.4.2 By Application
6.3.2.5 Italy
6.3.2.5.1 By Product
6.3.2.5.2 By Application
6.3.3 Eastern Europe
6.3.3.1 By Product
6.3.3.2 By Application
6.3.4 The Rest of Europe
6.3.4.1 By Product
6.3.4.2 By Application
6.4 Asia-Pacific
6.4.1 Market Size & Forecast (Value)
6.4.2 Japan
6.4.2.1 By Product
6.4.2.2 By Application
6.4.3 China
6.4.3.1 By Product
6.4.3.2 By Application
6.4.4 Australia
6.4.4.1 By Product
6.4.4.2 By Application
6.4.5 India
6.4.5.1 By Product
6.4.5.2 By Application
6.4.6 South Korea
6.4.6.1 By Product
6.4.6.2 By Application
6.4.6.3 By End User
6.4.7 The Rest of Asia-Pacific
6.4.7.1 By Product
6.4.7.2 By Application
6.5 The Middle East and Africa
6.5.1 The Middle East and Africa
6.5.1.1 By Product
6.5.1.2 By Application
7 Company Profile
7.1 Medtronic Plc
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Recent Developments
7.1.4 Product Portfolio
7.2 Boston Scientific Corporation
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Recent Developments
7.2.4 Product Portfolio
7.3 Abbott
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Recent Developments
7.3.4 Product Portfolio
7.4 LivaNova
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Recent Developments
7.4.4 Product Portfolio
7.5 Synapse Biomedical
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Recent Developments
7.5.4 Product Portfolio
7.6 Nevro Corporation
7.6.1 Company Overview
7.6.2 Financial Performance
7.6.3 Recent Developments
7.6.4 Product Portfolio
7.7 NeuroSigma
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Recent Developments
7.7.4 Product Portfolio
7.8 NeuroPace
7.8.1 Company Overview
7.8.2 Financial Performance
7.8.3 Recent Developments
7.8.4 Product Portfolio
7.9 BioControl Medical
7.9.1 Company Overview
7.9.2 Financial Performance
7.9.3 Recent Developments
7.9.4 Product Portfolio
7.10 Integer Holdings Corporation
7.10.1 Company Overview
7.10.2 Financial Performance
7.10.3 Recent Developments
7.10.4 Product Portfolio
7.11 Bioinduction
7.11.1 Company Overview
7.11.2 Financial Performance
7.11.3 Recent Developments
7.11.4 Product Portfolio
7.12 GiMer Medical
7.12.1 Company Overview
7.12.2 Financial Performance
7.12.3 Recent Developments
7.12.4 Product Portfolio
7.13 GTX Medical
7.13.1 Company Overview
7.13.2 Financial Performance
7.13.3 Recent Developments
7.13.4 Product Portfolio
7.14 Others
7.14.1 Company Overview
7.14.2 Financial Performance
7.14.3 Recent Developments
7.14.4 Product Portfolio
8 Conclusion & Recommendations
9 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/neurostimulation-devices-market/toc
News Media:
Sana Health Aims To Cure Pain Through Masks, Eliminating Use of Pills
Increasing Consumer Awareness to Augment Paint Protection Film Market Growth
Acute Spinal Cord Injury Market was Valued at USD 5,121 million in 2018, at a CAGR of 4.1%
Neuropathic Pain Market to Reach USD 3108.9 Million by 2026 at a CAGR of 5.3%
Have a Look at the Related Research Report
Neurosurgery Device Market: Information by Product (Neuro-Interventional Devices), Application (Spinal Cord Stimulation), End-User (Hospitals, Clinics), and Region — Forecast till 2029
Electrocardiograph (ECG) Market: Information by Product (Rest ECG Systems, Stress ECG Systems), Technology (Portable ECG Systems, Wireless ECG Systems), and Region – Forecast till 2030
Interventional Cardiology Devices Market: Information by Product Type (Coronary Stents, Catheters, and Percutaneous Transluminal Coronary Angioplasty Balloons) and Region — Forecast Till 2027
About Straits Research Pvt. Ltd.
StraitsResearch is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.
Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.
For more information on your target market, please contact us below:
Phone: +1 646 480 7505 (the U.S.)
+91 8087085354 (APAC)
+44 208 068 9665 (the U.K.)
Email: sales@straitsresearch.com
Follow Us: LinkedIn | Facebook | Instagram | Twitter
