The “Global Neurostimulation Devices Market Size By Devices Type (Implantable Devices, External Devices), By Application (Parkinson’s Disease, Epilepsy), By End-User (Rehabilitation Centers, Hospitals), By Geographic Scope & Forecast, 2023-2030” report has been published by Verified Market Research®. The report provides an in-depth analysis of the global Neurostimulation Devices Market, including its growth prospects, market trends, and market challenges
JERSEY CITY, N. J., April 28, 2023 /PRNewswire/ — The Global Neurostimulation Devices Market is projected to grow at a CAGR of 12.50% from 2023 to 2030, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 6.06 Billion in 2021 and is expected to reach USD 17.49 Billion by the end of the forecast period.
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Browse in-depth TOC on “Neurostimulation Devices Market“
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37 – Figures
Global Neurostimulation Devices Market to Witness Rapid Growth due to Rising Geriatric Population
The global market for neurostimulation devices is set to witness rapid growth in the coming years. The use of neurostimulation devices has gained prominence in recent years due to their ability to relieve pain in patients suffering from the loss of sense and paralysis. These devices work by disrupting the neural signals between the brain and spinal cord, thus restricting the pain sensation. As a result, neurostimulation devices are increasingly being administered as an alternative to potent painkillers, except opiates.
The market for neurostimulators is mainly growing with the increase in the global geriatric population that is highly prone to neurological diseases like migraine and epilepsy. In diseases such as movement disorders, epilepsy, Parkinson’s disease, chronic pain, and depression, neurostimulation devices can be of great help. Furthermore, with factors such as a growing number of neurological cases and lifestyle diseases, increasing investment from governments, and the rising focus on research and development, the market for neurostimulators is estimated to expand further.
Some of the key players in the neurostimulation devices market include Boston Scientific Corporation, St. Jude Medical, Inc., Cochlear, Ltd., Medtronic, Plc, NDI Medical, LLC, MED-EL., Cyberonics, Inc. NeuroSigma, Inc., and NeuroPace, Inc. These companies are expected to invest in research and development activities to introduce innovative products that offer better patient outcomes.
The report on the global neurostimulation devices market provides financial statements, product benchmarking and SWOT analysis, key development strategies, market share, and market ranking analysis. The report also covers the latest trends and technologies that are likely to influence the market in the coming years.
Overall, the neurostimulation devices market is expected to witness strong growth in the coming years due to the rising number of neurological cases and the increasing adoption of minimally invasive surgeries. With the introduction of new and innovative products, this market is expected to offer significant opportunities for players operating in this space.
Based on the research, Verified Market Research® has segmented the global Neurostimulation Devices Market into Devices Type, Application, End-User, And Geography.
- Neurostimulation Devices Market, by Devices Type
- Implantable Devices
- Vagus Nerve Stimulators
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Gastric Electric Stimulators
- Others
- External Devices
- Transcranial Magnetic Stimulation (TMS)
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Others
- Implantable Devices
- Neurostimulation Devices Market, by Application
- Parkinson’s Disease
- Epilepsy
- Depression
- Dystonia
- Pain Management
- Others
- Neurostimulation Devices Market, by End-User
- Rehabilitation Centers
- Hospitals
- Medical Clinics
- Others
- Neurostimulation Devices Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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