Market Scenario 

Global Neurostimulation Devices Market was valued at US$ 8,275.6 Mn in 2022 and is estimated to reach a valuation of US$ 18,318.4 Mn by 2031, registering a CAGR of 9.7% over the forecast period 2023-2031. On the other hand, by volume, the market is projected to grow at a CAGR of 8.3% during the same period. 

Neurostimulation devices have the potential to significantly improve the quality of life for individuals who are severely paralyzed or suffer from profound losses to various sense organs. They are also being increasingly used to provide permanent relief for severe, chronic pain, reducing the need for high-dose opioid therapy. The neurostimulation devices market is revolutionizing neurological rehabilitation with its wide range of applications, including pain relief, psychiatric disease treatment, and movement disorder treatment, such as multiple sclerosis and spinal cord injury.

The neurostimulation devices market is driven by increasing incidences of neurological disorders and rising investment in neurological R&D. Neurological disorders are conditions that affect the central and peripheral nervous system, including the brain, spinal cord, cranial nerves, peripheral nerves, nerve roots, autonomic nervous system, neuromuscular junction, and muscles. These disorders include epilepsy, Alzheimer's disease and other dementias, cerebrovascular diseases including stroke, migraine and other headache disorders, multiple sclerosis, Parkinson's disease, neuroinfectious diseases, brain tumors, traumatic disorders of the nervous system due to head trauma, and neurological disorders resulting from malnutrition.

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Market Dynamics 

Driver: Increasing Prevalence of Neurological Disorders 

Neurological disorders present a significant health burden globally, with hundreds of millions of people affected. According to the World Health Organization (WHO), more than six million people die from stroke each year, with over 80% of these deaths occurring in low- and middle-income countries. Epilepsy affects more than 50 million people worldwide, while dementia affects an estimated 47.5 million people globally, with 7.7 million new cases every year in the global neurostimulation devices market. Alzheimer's disease is the most common cause of dementia, contributing to 60–70% of cases. The prevalence of migraine is more than 10% worldwide. The recognition of the massive burden associated with neurological disorders has led to rising investments in neurological R&D by various governments worldwide.

Opportunity: Rapid Adoption of Silicon Micro-Fabrication and Wireless Energy Transfer, Provides Opportunities for Market Expansion

The adoption of emerging technologies, such as silicon micro-fabrication and wireless energy transfer, provides opportunities for market expansion. However, the high cost of neurostimulation procedures and equipment limits the neurostimulation devices market growth. Despite this, the potential benefits of neurostimulation devices for individuals with neurological disorders and chronic pain cannot be overstated. As research continues to advance, it is likely that neurostimulation will play an increasingly important role in neurological rehabilitation and pain management.

Segmental Analysis of Global Neurostimulation Devices Market 

By Device Type:

The implantable device segment of the global neurostimulation devices market holds the highest share in 2022 and is expected to register the highest CAGR during the forecast period. This growth can be attributed to the increasing cases of depression, anxiety, and neurological disorders, coupled with the new and improved innovations in implantable devices. These devices have become increasingly popular due to their ability to provide targeted and sustained therapy to patients. The spinal cord stimulation device holds the highest market share within the implantable device segment in 2022. It has been widely adopted for treating chronic pain, as it can provide relief without the need for high-dose opioid therapy.

By Application:

In terms of application, the pain management segment has the highest market share in 2022 and is projected to continue its dominance over the forecast period. These devices offer pain relief to patients who have exhausted conservative treatment options, including physical therapy, neuropathic pain medications, and adjuvant medications. They are especially useful for patients suffering from chronic pain, which can significantly impact their quality of life. The use of neurostimulation devices for pain management has increased in recent years, owing to their non-invasive nature and lower risk of side effects compared to traditional pain medications.

By End Users:

The hospitals/clinics segment holds the largest share in the Global Neurostimulation Devices Market in 2022. With the growing aging population and subsequent rise in chronic diseases such as Parkinson's and Alzheimer's, the number of patients requiring treatment for these diseases is expected to increase. Neurostimulation devices are commonly used in hospitals and clinics to manage chronic pain, depression, and other neurological disorders. 

However, the research institutes segment has the highest growth rate over the projection period, primarily due to the increasing research and development activities in the medical sector and rising government funding for better treatment of neurological disorders. Researchers are continually exploring new applications for neurostimulation devices, such as using them for the treatment of movement disorders like multiple sclerosis and spinal cord injury, and psychiatric diseases like depression and anxiety. Ongoing research and development are crucial for the growth and advancement of the neurostimulation device market.

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Regional Analysis 

In 2022, North America dominated the global neurostimulation devices market due to a high prevalence of neurological disorders, such as stroke, dementias, and migraine in the United States. According to the Global Burden of Disease study, these disorders cause the most disability in the region. The well-established healthcare infrastructure and favorable reimbursement policies also contribute to the growth of the neurostimulation devices market in North America.

However, the Asia Pacific region is expected to record the highest CAGR over the projection period, owing to the rising cases of depression and dementia in South Asian countries like Japan, South Korea, and China. The increasing disposable income in APAC countries has led to higher healthcare expenditures, which is expected to propel market growth over the forecast period. Governments in these countries are also taking measures to improve healthcare facilities, which will create more opportunities for the neurostimulation device market.

The increasing prevalence of neurological disorders and chronic pain, along with the rising geriatric population in the Asia Pacific region, is also expected to drive market growth. The adoption of advanced technologies and the growing number of clinical trials for neurostimulation devices in the region are further expected to contribute to market growth. Additionally, the rising awareness about neurostimulation therapy among patients and healthcare professionals is likely to create significant growth opportunities in the Asia Pacific region in the coming years.

List of Key Companies Profiled:

• 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

Segmentation Overview

The following are the various segments of the global neurostimulation devices market:

By Device Type:

• Implantable Device
  • Cochlear Implants (CI)
  • Sacral Nerve Stimulation (SNS)
  • Gastric Electric Stimulation (GES)
  • Deep Brain Stimulation (DBS)
  • Vagus Nerve Stimulation (VNS)
  • Spinal Cord Stimulation (SCS)
• External Device
  • Transcranial Magnetic Stimulation (TMS)
  • Transcutaneous Electrical Nerve Stimulation (TENS)

By Application:

• Pain Management
• Hearing Loss
• Urinary Incontinence
• Parkinson's Disease
• Epilepsy
• Gastroparesis
• Depression
• Others

By End User:

• Hospitals/Clinics
• Cognitive Care Centres
• Research Institutes
• Others

By Region:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia & New Zealand
  • Rest of APAC
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America