Neurostimulation Devices Market By Technology (Internal Neuromodulation, External-Neuromodulation), By Application (Spinal Cord-Stimulation, Deep-Brain Stimulation, Sacral-Nerve Stimulation, Vagus-Nerve Stimulation, Gastric-Electrical Stimulation, Transcutaneous-Electric Nerve Stimulation, Transcranial-Magnetic Stimulation, Respiratory ElectricStimulation, Others) By Application Type (Dairy Products, Snacks, Meat & Poultry Products, Beverages, Bakery Products, Others) By Geography, Size, Share, Global Industry Analysis Report, Forecast, 2020-2030

Industry Report and Statistics (Facts & Figures) - Demand & Sales, Number of Procedue Conducted by Technology & Application

The global neurostimulation devices market will witness a robust CAGR of 12.8%, valued at $5.41 billion in 2022 and expected to grow and reach $50.7 billion by 2030, confirms Strategic Market Research. North America will continue to dominate the neurostimulation devices industry, accounting for 60% of global sales.

Neurostimulation devices are implantable & programmable devices that administer electrical stimuli to specific areas of the spinal cord & CNS to aid in treating various illnesses, including Parkinson's disease, movement disorders, epilepsy & chronic pain. Neurostimulation devices reduce suffering by interrupting the transference of chronic pain signals from the spinal cord to the brain. Neurostimulation therapy entails the implantation of a fully implantable, reversible system. Once implanted, the system allows patients to adjust their stimulation level using a handheld device. A complete implantable neurostimulation system includes a neurostimulator, leads, a physician's programmer, and a patient's programmer. It makes no noise and feels like a small bump under the skin.

According to WHO, in 2022, 50 million people have epilepsy, 1 billion have migraine, 400,000 have spinal cord injuries in the USA, and 1.5 million have Parkinson’s Disease. This rising number of nervous system disorders gives rise to the neurostimulation devices market. 

Key Industry Drivers - Increasing Awareness & Adoption of Neurostimulation Therapies, Aging Population, and Massive Surge in Chronic Diseases

• The rise in acknowledgment & acceptance of neurostimulation, such as DBS & SCS, is fuelling the market. Patients are adopting non-invasive and drug-free treatments, which has triggered the demand for neurostimulation devices. The increasing awareness of mental diseases is leading to increased investments and initiatives by private and public health institutions and Non-governmental organizations. These programs and organizations encourage individuals to screen for mental disorders, leading to the demand for neurostimulation devices to manage these diseases. Neurostimulation therapies can be divided into invasive approaches or non-invasive approaches. Non-invasive brain stimulation (NIBS) involves cortical stimulation through the skull, scalp, and meninges. The Invasive procedure is categorized into deep brain stimulation (DBS) & vagal nerve stimulation (VNS).

 

• The proliferating aging population and increasing healthcare expenses in developed regions also drive the market. According to WHO, 1 billion people are above the age of 60, and this will appreciate & reach 1.4 billion by 2050. The aging population is more inclined to neurological illnesses such as Parkinson's disease, Alzheimer's disease, chronic pain & movement disorders, which raises the market demand for neurostimulation devices. Non-invasive treatment offered by neurostimulation devices appeals aging population by minimizing risk & surgical intervention, which results in improving longevity and quality of life that fuels the growth of the neurostimulation devices market.

 

• According to a research study, in 2019, 703 million people worldwide were 65 or older. By 2050, it is expected and projected that there will be 1.5 billion senior people. In the entire world, the percentage of people who are 65 and older rose from 6% in 1990 to 9% in 2019. The elderly population experiences more surgeries, pains, and chronic conditions, increasing the use of efficient pain relief technology. In the elderly population, chronic pain is extremely common. It is an element that will contribute to the market's enormous demand in the approaching year. Infusion pumps, electrical nerve stimulators, and spinal cord stimulators are used more frequently. For instance, the prevalence of chronic pain increased with age in 2020, with an estimated 25% of American adults (90.0 million) and 10.0% of American adults (30.6 million) reporting high-impact chronic pain.

 

Restraints:

• The market's expansion is poised to be restricted by side effects like allergic response and prickling or tingling of the skin due to the implantation of neurostimulation devices into the body.

 

• Apart from that, the higher costs of neurostimulation devices are also plummeting market growth.

 

Opportunities - Increasing Prevalence of Neurological Disorders & Growing Demand for Non-Invasive Treatment 

• According to WHO, one billion people are impacted by Neurological Disorders. The growing prevalence of conditions like Alzheimer’s, Parkinson’s disease, strokes, multiple sclerosis & epilepsy, migraine, brain injuries & neuro infections provides a substantial market opportunity for neurostimulation devices. As traditional treatment may be ineffective or have side effects, neurostimulation offers a promising alternative for managing & improving the quality of life for patients with neurological disorders.

 

• Non-invasive treatment options are increasing because of advantages like being painless and safe & have minimal side effects. Also, it has wide applications in neurological disorders. Non-Invasive treatments aim to improve quality of life & reduce the impact of speaking, swallowing movement & cognition issues. Patients and healthcare providers increasingly prefer non-invasive or minimally invasive treatment options for comfort. Neurostimulation devices, such as TENS & TMS devices provide a non-invasive method of treating pain & mood disorders. The demand for these less invasive treatments presents significant market opportunities for neurostimulation devices.

Neurostimulation Devices Market Analysis Of Different Segments Covered in the Report

Based on Technology

• Internal Neuromodulation

  • Spinal-Cord Stimulation

  • Gastric-Electrical Stimulation

  • Vagus-Nerve Stimulation

  • Sacral-Nerve Stimulation

  • Deep-Brain Stimulation

 

• External-Neuromodulation

  • TENS/Transcutaneous-ElectricNerve Stimulation

  • TMS/Transcranial-Magnetic Stimulation

  • RES/Respiratory-Electrical Stimulation

 

Based on Application

• Parkinson’s Disease

• Chronic Pain

• Migraine

• Epilepsy

• Tremor

• Depression

• Urinary & Faecal Incontinence

• Others

 

Regional Coverage Analysis

Based on Region Analysis

• The region of NorthAmerica

  • US

  • Canada

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • RoE

• Asia Pacific

  • Japan

  • China

  • India

  • Rest of the Asia-Pacific

• Rest of the World

  • Latin America

  • The African region &Middle East

Technology Analysis & Insights

• Internal Neuromodulation

Based on Internal Neuromodulation Technology, the market is categorized into spinal-cord stimulation, gastric-electrical stimulation, vagus nerve stimulation, sacral-nerve stimulation, and deep-brain stimulation. Spinal-Cord stimulation dominates the internal neuromodulation segment with a revenue share of 51.5%, growing with a CAGR of 8%.

A spinal-cord stimulation is used to relieve chronic pain by sending low levels of electrical signals to the spinal cord. Rising chronic pain cases pave the way for spinal-cord stimulations. According to CDC, 25% of the US population faces chronic pain. As the prevalence of chronic pain continues to rise, there is a growing need for spinal cord stimulator that provides a substitute for traditional pain medications. SCS is growing due to the rising prevalence of the aging population for effective pain management by reducing the risk factor. Deep Brain stimulation is the fastest-growing segment, with a CAGR of 10%. A significant market driver is the rising incidence of neurological illnesses like Parkinson's disease, essential tremor, dystonia, and epilepsy.

 

• External Neuromodulation

Based on External Neuromodulation Technology, the market is categorized into transcutaneous electric nerve stimulation, transcranial magnetic stimulation, and respiratory electrical stimulation. Transcranial Magnetic Stimulation (TMS) dominates the external neuromodulation segment with a revenue share of 50%, growing with a CAGR of 9%. A TMS is a non-invasive procedure that uses electromagnetic induction to stimulate particular brain parts. TMS has been widely used in external neuromodulation to treat various neurological and psychiatric disorders, and its market has been experiencing significant growth. Driving factors are the non-invasive nature of the procedure & effectiveness for treating illnesses like schizophrenia, depression, Parkinson's disease, PTSD & Alzheimer's disease.

 

Application Analysis & Insights

In terms of Application, the Parkinson’s disease segment significantly dominated the overall market with a share of approximately 26.31%. It is one of the most common neurogenerative disorder of the brain which causes serious problems in body movement. GBD or Global Burden Diseases reported that in 2020, approximately 6.23 Mn people worldwide suffered with Parkinson’s disease. Also as per Parkinson’s Foundation, around 60k people in United States are diagnosed each year with PD (Parkinson’s disease) and nearly 4% people suffering from PD are diagnosed before they reach 50 years of age. Hence, the continuous surge of PD cases are augmenting the worldwide market growth significantly.

 

Regional Analysis & Insights

• North America is poised to have the highest revenue share of 60% for the neurostimulation devices market. It is destined to dominate the industry for the forecasted period, confirms Strategic Market Research. The high prevalence of neurological disorders, the developed healthcare system, and the favorable reimbursement policies are the main drivers of North America's significant neurostimulation device market. The USA holds the largest market share in this region due to advanced healthcare facilities, extensive research and development activities, and a large patient pool. North America has neurostimulation devices market leaders like Abbott Laboratories, Synapse Biomedical Inc., Boston Scientific Corporation, NeuroPace Inc., and Nevro Corp.

 

• Europe is the second largest significant market for neurostimulation devices. Major benefactors to the market expansion in this region include Germany, France, the United Kingdom & Italy. Europe benefits from a well-developed healthcare system, increasing awareness about neurological disorders, and a rising aging population.

 

• The APAC region is rapidly growing in the neurostimulation device market. The main contributors to the markets in this region are nations like China, Japan, India, & South Korea. The large population base, rising disposable income, growing public awareness about the cutting-edge medical technologies, and rapidly developing healthcare infrastructure together contribute to the market's expansion. Also, the ubiquity of neurological disorders is increasing in the APAC, further fuelling the demand for neurostimulation devices.

 

Neurostimulation Devices Market Report Coverage

Report-Attribute	Details
The overall Market size in 2020	USD 4.796 billion
Forecasted Revenue for 2030	USD 50.7 billion
Growth-rate	CAGR of almost 12.8%
Base year taken	2021
Historical data	2017 - 2020
Forecast period	2021 - 2030
Quantitative units	Revenue in USD million/billion, Volume in 000 units, and CAGR from 2020 to 2030
Coverage of the Report	Volume forecast, Revenue forecast, competitive landscape, growth factors, &trends
Segments coverage	Product, application, and region
Regional scope	Latin America, North America, Europe, the Middle East, and Africa;
Country scope	Canada; U.S.; U.K.; Deutschland; France; Italy; Spain; India; Russian federation; Singapore; China; Japan; South Korea; Australia; Mexico; Argentina; Brazil; South Africa; Saudi Arabia; UAE
Companies Included	Cyberonics; Medtronic; St. Jude Medical, Inc.; Nevro Corp, Boston Scientific Corp;.
Scope of Customization	Free report customization with purchase. Additional or alteration to the regional, country,& segment scope.
Purchase& pricing options	Utilize specialized purchasing choices to satisfy your precise research needs.

Neurostimulation Devices Market Competitive Landscape Analysis

To create innovative products and technology, manufacturers are placing more emphasis on R&D efforts. Strategic initiatives of the companies is to obtain a competitive advantage are regional expansions and M&As. The following are a few of the well-known businesses present in the global market for neurostimulation devices:

• St. Jude Medical, Inc.

• Nevro Corp.

• Cyberonics

• Boston Scientific Corp.

• Medtronic PLC

• Neutronics Inc.

• Aleva Therapeutics SA

• ElectroCore Inc.

• NeuroSigma, Inc.

• EndoStim Inc.

• Synapse Biomedical Inc.

• NeuroPace Inc.

 

Recent Developments:

• On  May 2023, FDA approved Abbott’s spinal cord stimulation (SCS) devices for treating chronic back pain in people who have not had or are not eligible to receive back surgery. This labelling expansion was supported by results from the DISTINCT study, which demonstrated that Abbott's proprietary BurstDRTM SCS technology improved pain levels, ability to perform daily activities, and emotional well-being in people with chronic back pain.

 

The Top Manufacturers in The Market Make a Variety of Equipment, Including:

Name	Feature	Key Player
Cardiac resynchronization therapy	Cardiac resynchronization therapy (CRT or CRT-P) involves inserting electrodes into the right and left ventricles of the heart and occasionally the right atrium. This procedure treats heart failure by synchronizing the left and right ventricles' functions using a pacemaker, a small device inserted into the interior of the chest wall. Patients with heart failure, poor ejection fraction (usually 35%), impaired electrical activity, and QRS prolongation to >120 ms are candidates for CRT. Under local anesthesia, electrodes are inserted into the ventricles, which are most typically accessed through the subclavian vein. The term "CRT-P" is frequently used to distinguish CRT with a pacemaker (CRT) and CRT without a defibrillator (CRT-D).	St. Jude Medical, Inc.
Omnia	Increased adaptability to optimize patients remotely using a programming strategy inspired by data from 70k+ patients in the HFX CloudTM. Improving Remote Support: Check for remote MRI impedance Enhanced with seven times more customizable programs. A greater range of frequencies and waveforms: Future-proof in terms of waveforms and frequency. Any frequency ranging from 2-1,200 Hz to 10,000 Hz	Nevro Corp.
RF3000	Specifically made to work with the RF3000TM : ·       A large matrix of array diameters ranging from 2 to 5 cm. Umbrella-shaped array. • The sole RFA method that appropriately evaluates the procedure endpoint through the use of impedance • Small 1.5 cm by 1 cm ablation zones with Soloist Single Needle Electrode Variety of Cannula Designs CoAccess Needle Electrode System enables a coaxial entry port for one or multiple insertions, including biopsy probe access. Depth markings at 1cm intervals are designed for accuracy of placement.        • A minimally invasive needle electrode called the LeVeen SuperSlim	Boston Scientific Corp.