The global Neurostimulation market size accrued earnings worth approximately USD 6.64 Billion in 2023 and is predicted to gain revenue of about USD 19.11 Billion by 2032, is set to record a CAGR of nearly 12.58% over the period from 2024 to 2032.

Global Neurostimulation Market: Overview

The treatment of various illnesses such as incontinence, epilepsy, essential tremors, gastroparesis, Parkinson’s disease, and depression use neurostimulation. Neurostimulation is a high-potential treatment in which the patients find relief from their pain, which is not obtained by surgical therapies and medications. The life quality of the patients, who are paralyzed or suffering from loss of sense organs, is improved highly. Hence, neurostimulation is highly influential in hearing aids, artificial vision, artificial limbs, and others.

Request Free Sample

The ever increasing prevalence of chronic disorders and limitations of pharmaceutical medication in effectively treating these diseases has paved way for innovations in the neurostimulation techniques. Functional capabilities of different nerves in the human body and effects of electrical stimulation of these nerves for treatment of different conditions have been constantly studied. This has led to emergence of new techniques and devices for targeting and treatment of chronic conditions. These techniques range from stimulation of the spinal cord for treatment of pain, to stimulation of vagus nerve for treatment of epilepsy, and other conditions. The market is characterized by specialized devices and techniques being introduced to treat specific conditions and constant innovations in the neurostimulation techniques.

A significant proportion of patient population suffering from chronic conditions including chronic back pain, depression, epilepsy, sleep apnea, among other conditions, are demonstrating resistance to medication and drugs. The resistance is visible in terms of slow progression of the treatment and delayed or limited outcomes. This has led to healthcare providers shifting their focus towards neurostimulation techniques for treatment of chronic conditions, which is driving the neuromodulation devices market trends. According to the Centers for Disease Control and Prevention (CDC) statistics, an estimated 50 million people in the U.S. suffer from chronic pain each year, in addition to around 19 million suffering from high impact chronic pain. Epilepsy, treatment resistant depression, and other chronic conditions also exert a huge economic burden on countries for treatment of patients. The limited pharmacological outcomes provided by medications in treating these conditions have led to a shift of preference of healthcare providers towards neurostimulation techniques. Most prominently preferred techniques include spinal cord stimulation, deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, and others.

Request For Customization

According to Centers for Disease Control and Prevention (CDC), an estimated USD 50 billion are spent each year for treatment of chronic lower back pain in North America. Chronic back pain, epilepsy, treatment resistant depression, and migraine are among few chronic conditions associated with high economic burden globally. According to the Epilepsy Foundation of America and World Health Organization (WHO), an estimated 50 million people globally were suffering from epilepsy.

Increasing incidence of these conditions and growing awareness and diagnosis rates globally are presenting a large patient pool demanding treatment. This, along with limited clinical outcomes offered by medications and growing preference towards neuromodulation techniques, is driving the neuromodulation devices market demand globally. Introduction of advanced neurostimulation devices by market players, including non-invasive devices, is anticipated to drive the adoption of these devices, further fuelling the demand for these techniques. 

Buy Now

Global Neurostimulation Market: Competitive Players

Some main participants of the

 

 

Segments Included in Report

By Therapies

 

  • Spinal Cord
  • Sacral Nerve
  • Transcranial Magnetic
  • TENS
  • Deep Brain
  • Vagus Nerve & Gastric

 

By Application

 

  • Epilepsy
  • Urinary & Fecal Incontinence
  • Dystonia
  • Parkinson’s Disease
  • Pain Management
  • Essential Tremor
  • Depression
  • Gastroparesis
  • Others

 

Regional Segment Analysis

 

  • North AmericaThe U.S.Canada
  • EuropeFranceThe UKSpainGermanyItalyRest of Europe
  • Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
  • Latin AmericaBrazilMexicoRest of Latin America
  • Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa