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Neurostimulation Devices Market Share and Growth Factors 2022-27
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Neurostimulation Devices Market Share and Growth Factors 2022-27

According to IMARC Group latest report titled “Neurostimulation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on neurostimulation devices industry trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global neurostimulation devices market reached a value of US$ 7.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.4 Billion by 2027, exhibiting a CAGR of 12.3% during 2022-2027.

Neurostimulation devices are programmable medical transmitters that are used for providing electrical signals to certain parts of the human brain. They inhibit, stimulate, alter, regulate and modify the activity of the central, peripheral and autonomous nervous systems in the patient’s body. They generally operate on thin wires and leads and are surgically inserted into the organs that significantly impact every part of the body and are considered effective in treating symptoms of tremors, urine incontinence, headaches, and spinal cord injury. Additionally, they act as key elements in artificial limbs, hearing aids, and neural prosthetics for artificial vision. They are commonly available in implantable and non-implantable variants, which are utilized to deliver electrical or chemical agents in order to modify brain and nerve cell activities.

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Market Trends:     

The escalating incidences of neurological and lifestyle disorders among individuals majorly drive the global market. This can be supported by the increasing prevalence of Parkinson’s disease, nociceptive pain, depression, epilepsy, neuropathic pain, and dystonia among the masses. Since neurostimulation devices help in reducing chronic pain while enhancing the quality of life of patients suffering from obesity, paralysis, and severe loss of sensory organs, this is providing a boost to their demand. Apart from this, a shifting preference toward minimally invasive (MI) procedures among patients. For instance, the rising demand for deep brain stimulation (DBS) MI procedure to transmit electrical signals to the brain circuit’s specific circuit is acting as another growth-inducing factor. Moreover, the advent of modern neurostimulation devices that can electronically stimulate the nervous system to regain post-paralysis motor movements and restore vision is creating a positive market outlook.

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Competitive Landscape with Key players:

The competitive landscape of the industry has also been examined with some of the key players.

  • Biocontrol Medical

  • Boston Scientific Corporation

  • Cyberonics Inc.

  • Medtronic Inc.

  • Neuronetics Inc.

  • Nevro Corporation

  • Jude Medical Inc.

Global Neurostimulation Devices Market Segmentation:

Our report has categorized the market based on region, stimulation type, device type, application and end-use.

By Stimulation Type:

  • Internal Neurostimulation

  • External Neurostimulation

By Device Type:

  • SCS (Spinal Cord Stimulation) Devices

  • DBS (Deep Brain Stimulation) Devices

  • SNS (Sacral Nerve Stimulation) Devices

  • VNS (Vagus Nerve Stimulation) Devices

  • GES (Gastric Electrical Stimulation) Devices

  • Transcutaneous Electrical Nerve Stimulation Devices

  • Transcranial Magnetic Stimulation Devices

  • Others

By Application:

  • Pain Management

  • Epilepsy

  • Essential Tremors

  • Urinary and Fecal Incontinence

  • Depression

  • Dystonia

  • Parkinson’s Disease

  • Others

By End-User:

  • Rehabilitation Centers

  • Hospitals

  • Medical Clinics

  • Others

Breakup by Region:

  • North America (United States, Canada)

  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)

  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

  • Latin America (Brazil, Mexico, Others)

  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2016-2021)

  • Market Outlook (2022-2027)

  • Porter’s Five Forces Analysis

  • Market Drivers and Success Factors

  • SWOT Analysis

  • Value Chain

  • Comprehensive Mapping of the Competitive Landscape

We are updating our reports, If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours after the payment confirmation.

 

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