Neurostimulation Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Japan, China - Size and Forecast 2023-2027

Neurostimulation Devices Market Forecast 2023-2027

The global neurostimulation devices market size is estimated to grow by USD 6.26 billion at a Compound annual growth rate (CAGR) of 12.19% between 2022 and 2027. 

Some public and private organizations are taking the initiative to promote awareness and improve access to healthcare for patients with neurological disorders. The World Health Organization (WHO) works with partners and stakeholders to improve access to healthcare for people with epilepsy. Brain Awareness Week (BAW), which is organized by the Dana Alliance for Brain Initiatives, is a global campaign that aims to improve public awareness about the progress and benefits of brain research. Furthermore, market players such as LivaNova are also taking the initiative to raise awareness about neurological disorders. The company works to increase attention to epilepsy and depression. 

What will be the size of the Market During the Forecast Period?

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The Neurostimulation Devices Market is poised for strong growth, driven by the increasing prevalence of neurological disorders and the rising demand for minimally invasive treatment options. Pain management, Parkinson's disease treatment, and Essential Tremor treatment are major application areas, with key players like Medtronic, Boston Scientific, and Abbott leading the market.

Market Segmentation

Neurostimulation devices are gaining significant traction in the healthcare industry due to their effectiveness in treating various neurological conditions. The Neurostimulation Market is projected to grow at a robust pace, driven by the increasing prevalence of neurological disorders and the rising demand for minimally invasive treatment options. These devices use electrical pulses to stimulate nerves and modify the body's response to pain or other conditions. Pain management is a major application area for neurostimulation devices, with devices like Spinal Cord Stimulators (SCS) and Transcutaneous Electrical Nerve Stimulators (TENS) leading the way. Other applications include Parkinson's disease treatment with Deep Brain Stimulation (DBS) and Essential Tremor treatment with Functional Electrical Stimulation (FES). The market for neurostimulation devices is highly competitive, with key players like Medtronic, Boston Scientific, and Abbott leading the charge. Regulatory approvals, technological advancements, and strategic collaborations are some of the key factors influencing market growth.

Application Analysis 

The market share growth by the pain management segment will be significant during the forecast period. The demand for neurostimulation devices is increasing as these devices help in the management of neuropathic pain. Neurostimulation therapy provides relief from neurological pain by disrupting the pain signals between the spinal cord and the brain. The high number of people with chronic pain, especially among the geriatric population, is a major factor in the significant demand for these devices.

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The pain management segment was valued at USD 3.85 billion in 2017.  These devices cater to the increasing demand for pain management, particularly among the elderly population and those suffering from chronic pain. Neurostimulation therapy, which includes deep brain stimulator, gastric electric stimulator, spinal cord stimulator, sacral nerve stimulator, vagus nerve stimulator, and Transcutaneous Electrical Nerve Stimulation (TENS), offers relief from neurological pain by interrupting pain signals between the spinal cord and brain. The geriatric population base, comprising over 700 million people aged 65 and above in 2020 (per UN Digital Library System), is a significant factor driving demand.

Neurostimulation devices are used to manage various conditions, such as chronic pain, essential tremor, dystonia, gastroparesis, musculoskeletal disorders (including osteoarthritis, arthritis, and rheumatoid arthritis), and orthopedic degenerative disorders. Surgical procedures like neurovascular embolization and invasive procedures are sometimes required for neurostimulator implantable medical devices. Traditional procedures and non-invasive methods like TENS are also utilized. The Centers for Disease Control and Prevention (CDC) reports that chronic pain affects approximately 50 million Americans, highlighting the importance of these devices.

Product Analysis

Neurostimulation devices refer to implantable medical devices used for neuromodulation, a technique that involves electrically stimulating specific nerves or areas of the brain. Neurostimulators, such as those used in Parkinson's Disease (PD) through Deep Brain Stimulation (DBS), Alzheimer's, stroke, and other neurological and chronic diseases, treat various conditions including pain, epilepsy, migraine, depression, essential tremors, and overactive bladder syndrome. Neuspera Medical is a notable player in this field.

Neurostimulation therapies include Spinal Cord Stimulation (SCS), Sacral Nerve Stimulation (SNS), Vagus Nerve Stimulation (VNS), and Gastric Electrical Stimulation (GES). Reimbursement and regulatory approval processes, including the FDA, are crucial for healthcare providers to offer these devices as alternatives to drug therapies and surgical treatments. Emerging countries are increasingly adopting neurostimulation devices for neurological disorders and nerve injuries. Internal neuromodulation, such as DBS, and external neuromodulation, including transcutaneous electrical nerve stimulation and transcranial magnetic stimulation, are key approaches. Respiratory electrical stimulation is another application.

Regional Analysis

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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Neurostimulation devices, an implantable medical technology, employ neuromodulation through neurostimulators to treat various neurological disorders. PD, Deep Brain Stimulation (DBS), and Essential tremors are common applications. Companies like Neuspera Medical innovate in Alzheimer's and stroke treatment. Neurological diseases, including chronic conditions like Migraine, Epilepsy, and Depression, are addressed through pain management and nerve injury treatments. Reimbursement policies and healthcare providers favor neurostimulation devices over drug therapies and surgical treatments for several conditions.

In North America, the US, with its large market share, leads in Parkinson's and Alzheimer's treatments via internal neuromodulation (spinal cord, deep brain, sacral nerve, vagus nerve) and external neuromodulation (transcutaneous electrical nerve stimulation, transcranial magnetic stimulation, respiratory electrical stimulation). Emerging countries are also adopting these technologies, subject to regulatory approval processes, such as the FDA. Neurostimulation devices include DBS for Parkinson's and Alzheimer's, gastric electrical stimulation for overactive bladder syndrome, and various stimulation methods for pain management.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Abbott Laboratories: The company offers Proclaim SCS system which is a safe and effective, non-opioid option for managing chronic pain.

• ALEVA NEUROTHERAPEUTICS SA
• Axonics Inc.
• Bayer AG
• Bioinduction Ltd
• Boston Scientific Corp.
• electroCore Inc.
• EndoStim Inc
• Integer Holdings Corp.
• LABORIE MEDICAL TECHNOLOGIES CORP.
• LivaNova Plc
• Medtronic Plc
• NeuroMetrix Inc.
• NEURONETICS Inc.
• NeuroPace Inc.
• Nevro Corp.
• Parasym
• Perflow Medical Ltd.
• Soterix Medical Inc.
• Synapse Biomedical Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

Neurostimulation devices have gained significant attention in the medical field due to their ability to treat various neurological conditions. The Neurostimulation Market is expected to grow due to the increasing prevalence of neurological disorders and the advancements in technology. Neurostimulation devices use electrical signals to stimulate nerves and muscles, providing relief from chronic pain, epilepsy, Parkinson's disease, and other neurological disorders. The market for these devices is segmented into types such as Transcutaneous Electrical Nerve Stimulation (TENS), Spinal Cord Stimulation (SCS), and Functional Electrical Stimulation (FES). The market is also driven by the growing awareness of these devices and the increasing demand for minimally invasive procedures. The market is expected to grow at a CAGR of 7.5% from 2021 to 2028. The major players in the Neurostimulation Market include Medtronic, Boston Scientific, Abbott, and Nevro Corp. The market is expected to be driven by the increasing research and development in the field of neurostimulation technology.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

The rising prevalence of neurological disorders is an important driver. Neurological disorders caused more than 250 million disability-adjusted life years (DALY) in 2020. Neuropathic pain is one of the most prevalent and undertreated forms of chronic pain. Approximately 1.4% of the population of the US and Europe had some degree of neuropathic pain. This figure includes an estimated 5.6 million people aged 65 years and above and approximately 200,000 individuals under the age of 65 years.

Moreover, the risk of diseases and disorders such as Alzheimer's disease, epilepsy, Parkinson's disease (PD), and stroke increases significantly with age. Devices are vital for the diagnosis and monitoring of neurological disorders and conditions. 

Significant Market Trends

Expanding indications of devices is the primary trend in the market. Several devices have recently received approvals for indications and are in ongoing clinical trials to explore their additional therapeutic properties. For instance, Abbott offers the Proclaim DRG Neurostimulator System. It demonstrated sustained and superior pain relief than traditional neurostimulation systems among patients with CRPS of the lower limbs and other neuropathic pain conditions. 

Furthermore, endoscopy-based temporary gastric electrical stimulation (GES) has been demonstrated to improve the total symptom scores in non-delayed gastric emptying. Temporary GES also may be useful in patients with nausea and vomiting who are intolerant to medical treatment despite having non-delayed gastric emptying. Thus, the increasing acceptance and regulatory approvals of new indications will increase the demand for devices, fueling the market growth and trends during the forecast period.

Major Market Challenges

The high cost of neurostimulation devices and procedures is a challenge that affects the growth of the market. The average surgical cost of the initial implantation of pulse generators is more than USD 20,000. The mean initial surgical cost of DBS surgeries in the US is around USD 65,000. End-users also have to bear additional costs to maintain these devices, make post-operative device adjustments, and replace their battery. 

Furthermore, insurance coverage for novel neurostimulation therapies is limited. Several governmental and private insurers are reluctant to provide coverage for off-label therapies for devices such as DBS and VNS due to a lack of data about their efficacy. The lack of insurance coverage restricts access for patients to neurostimulation therapies, which impedes the growth of the market during the forecast period. 

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Key Customer Landscape

The market growth analysis report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research and growth report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Market Analyst Overview

The neurostimulation devices market, driven by implantable medical devices, addresses neural activities for therapeutic purposes. Amidst the challenges posed by SARS-CoV-2, containment measures emphasize the significance of outpatient clinics for vulnerable patients, including dystonic patients. Innovations like Neuspera ultra-miniaturized system and wireless platforms from Neuspera Medical advance technologically advanced products, meeting the demand for treating neurological disorders. Neurostimulation plays a crucial role in managing chronic stress and motor & psychiatric symptoms exacerbated by social restriction measures.

The  market is a significant segment in the healthcare industry, utilizing advanced technologies such as Drugs, Surgery, and Electronic devices for the treatment of various medical conditions. Therapies like Transcranial Magnetic Stimulation (TMS), Electroconvulsive Therapy (ECT), and Spinal Cord Stimulation (SCS) are key Neurostimulation techniques used for treating conditions like Depression, Parkinson's disease, and chronic pain. The market for these devices is growing steadily due to their effectiveness in treating conditions that are otherwise difficult to manage with conventional treatments. Over the last few years, technological advancements have led to the development of more precise and less invasive Neurostimulation devices, making them increasingly popular among healthcare providers and patients alike. The market for these devices is expected to continue growing, driven by an aging population, rising prevalence of chronic diseases, and increasing healthcare expenditures. The use of Neurostimulation devices in the treatment of various medical conditions is a promising area of research and development, with significant potential for improving patient outcomes and quality of life.

The market witnesses a surge in treating lifestyle-related disorders, including migraines, with external funding supporting minimally invasive surgeries. Manufacturers, in collaboration with the American Academy of Neurology, address highly unmet medical needs for essential tremors, urinary & fecal incontinence, dystonia, gastroparesis, and more. Deep brain, sacral nerve, and vagus nerve stimulators, along with gastric electric stimulators, offer comprehensive solutions. The FDA approval further validates neurostimulation's efficacy in managing urinary incontinence, non-malignant chronic neuropathic pain, Tourette syndrome, refractory epilepsy, cluster headaches, trigeminal neuralgia, movement disorders, and multiple sclerosis. Attention to mechanical failures and post-surgery pains & infections ensures the reliability and safety of neurostimulation devices.

Segment Overview

The market growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook
  • Pain management
  • Urinary and fecal incontinence
  • Parkinsons disease
  • Epilepsy
  • Others

• Product Outlook
  • Implantable 
  • External

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World (ROW)
    • Australia
    • Argentina
    • Brazil 

Neurostimulation Devices Market Scope
Report Coverage	Details
Page number	168
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 12.19%
Market growth 2023-2027	USD 6.26 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	10.4
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 40%
Key countries	US, Germany, UK, Japan, and China
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Abbott Laboratories, ALEVA NEUROTHERAPEUTICS SA, Axonics Inc., Bayer AG, Bioinduction Ltd, Boston Scientific Corp., electroCore Inc., EndoStim Inc, Integer Holdings Corp., LABORIE MEDICAL TECHNOLOGIES CORP., LivaNova Plc, Medtronic Plc, NeuroMetrix Inc., NEURONETICS Inc., NeuroPace Inc., Nevro Corp., Parasym, Perflow Medical Ltd., Soterix Medical Inc., and Synapse Biomedical Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on company's position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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