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Neurostimulation Devices Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Neurostimulation Devices Market: By Type (Implantable Device and External Device); Application (Pain Management, Hearing Loss, Urinary Incontinence, Parkinson's Disease, and Others); End User (Hospitals/Clinics, Cognitive Care Centers, Research Institutes, and Others); and Region—Industry Dynamics, Market Size and Opportunity Forecast Until 2031

  • Published Date: Mar-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0522231  | Delivery: 2 to 4 Hours
Neurostimulation Devices Market

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Market Size Value in 2022US$ 8,275.6 Mn                                 
Expected Revenue in 2031US$ 18,318.4 Mn
Historic Data2018-2021
Base Year2022
Forecast Period2023-2031
UnitValue (USD Mn)
CAGR9.7% (2023-2031)
Segments coveredBy Device Type, By Application, By End-User, By Region
Key Companies                                                                                                                Abbott Laboratories, Advanced Bionics, B. Braun Melsungen AG, Boston Scientific Corporation, BrainsWay, Cochlear, CONMED Corporation, KONINKLIJKE PHILIPS, Laborie Medical Technologies, Inc., MED-EL Medical Electronics, Medtronic PLC, Nevro Corp, Zimmer Biomet Holdings, Inc., Other Prominent Players                                                                                                                                                                                                                                                       
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The Global Neurostimulation Device Market was valued at US$ 8,275.6 Mn in 2022.

Neurostimulation is changing the face of neurological rehabilitation as it has a wide variety of uses including pain relief, treatment for psychiatric diseases, and more recently treat movement disorders such as multiple sclerosis and spinal cord injury.

Neurological disorders include epilepsy, Alzheimer’s disease, other dementias, cerebrovascular diseases including stroke, Parkinson's disease, neuro infections, and brain tumors, among others.

The market is majorly driven by factors such as the increasing incidence of neurological disorders and rising investment in neurological R&D.

The high cost of neurostimulation procedures and equipment is restraining the market growth.

The Global Neurostimulation Device Market is segmented based on device type, application, end-users, and region.

Global Neurostimulation Device Market is projected to expand at a CAGR of 9.7% over the forecast period 2023-2031.

Implantable devices hold the highest market share in 2022.

Pain management segment dominates the Global Neurostimulation Device Market in 2022.

Hospitals/clinics are the highest end-users in the market in 2022.

North America dominates the Global Neurostimulation Device Market in 2022.

Asia Pacific is recording the highest growth rate over the forecast period.

The key players in the Global Neurostimulation Device Market are Medtronic plc, Cochlear Ltd., Boston Scientific Corporation and Abbott Laboratories, Inc. among others.