Neurostimulation is the process of agitating or modulating the neural activities for therapeutic purpose. Neurostimulation devices are used for neuromodulation and function by either stimulating nerve impulses of inhibiting pain signals at specific sites such as the autonomic nervous system, peripheral nervous system, deep nuclei of brain or the central nervous system. Significant growth in geriatric population base has triggered the incidence of age related nervous conditions such as Alzheimer’s disease and Parkinson’s disease, and has thereby presented an area of high unmet medical needs in neurological disease segments. Similar scenario is also experienced in other conditions such as chronic pain, migraine, epilepsy and others. Going forward, it is expected that the growth of neurostimulation devices market will be facilitated by efficient harnessing of the untapped market opportunities in Asia Pacific and Latin America markets further evolution in neurostimulation treatments.
This report attempts to study the global neurostimulation devices market in terms of product types, therapeutic areas, and regional distribution. Based on product types, this report studies individual markets for spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator and gastric electric stimulator. Whereas, in terms of therapeutic areas, the report studies global neurostimulation devices market for pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, parkinson's disease and other therapeutic areas. Market size and forecast for each mentioned segment are provided in this report for the period 2013-2024 (US$ Mn), along with respective CAGR (value %) for the period 2016-2024.
Market size and respective forecast for these regional and country level markets are presented in this study for the period 2013-2024. Market growth rates for the forecast period 2016-2024 are also included in this report, considering 2015 as the base year. This study also includes cross-sectional market size and forecast for each regional market thus considered by product types, and therapeutic areas.
Along with quantitative information, qualitative information sets and assessment tools are provided in this study for better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges and opportunities assists the readers for understanding the ongoing trends in the global neurostimulation devices market. Tools such as market positioning of key players, and attractive investment proposition provide the readers with insights on the competitive scenario of the global neurostimulation devices market. This report concludes with company profiles section that highlights major information about the key players engaged in development, manufacture and sales of neurostimulation devices.
Based on the type therapeutic areas where neurostimulation is significantly in demand, the global neurostimulation devices market is segmented as follows:
Pain management is the mainstay of neurostimulation applications, highest prevalence of chronic pain, surgical pain and trauma related pain are the major therapeutic areas where neurostimulation devices are extensively used as adjunct to conventional medication administration. In addition, the market size of neurostimulation devices for treating Parkinson’s disease is expected to progress a an impressive growth rate due to large geriatric patient pool and proven efficiency of neurostimulation devices in treating neurological disorders. Other conditions such as migraine and epilepsy are observed to have high unmet needs in terms of efficient treatment. Such gaps between the disease prevalence and treatment efficiency essentially serve a lucrative market opportunities for neurostimulation devices market.
Based on the product types, the global neurostimulation devices market is segmented as follows:
Spinal cord stimulation currently dominate the overall market in terms of revenue share and it is anticipate that the segment will retain its dominance through the forecast period. The lead of spinal cord stimulators is majorly attributed to the relatively larger application and patient base of spinal cord stimulation devices and extensive market penetration. Introduction of technologically advanced devices in this segment will further assist in market sustenance. Some of the recent technological advancements in this space are MRI safety enabled devices, tripolar leads etc. However, growing demand for sacral nerve stimulation devices and deep brain stimulators. Based on the same, it is anticipated that the revenue share of sacral nerve stimulators and deep brain stimulators will augment through the forecast period. In addition, the demand for gastric electric stimulators is also expected to further grow due to its expanding application areas such as its promising role in obesity control.
North America accounted for the largest revenue share in the global neurostimulation devices market. However, the region is expected to lose its market share to rapid developments in European and Asia Pacific markets, stringent regulatory policies in the U.S. and yet retain its dominance during the forecast period. In addition, presence of large unmet needs in Asia and Latin America will make the manufacturers to shift their focus from North America and Western Europe and allow the fastest market growth rates to these regions. Improving disposable incomes of the general population and awareness about availability of latest treatments for neurodegenerative diseases are anticipated to be chief environmental factors prevalent in the region. Existence of significantly large patient population base will also further drive the market growth in Asia Pacific.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Neurostimulation Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
| |
Therapeutic Areas
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
