Neurostimulation Devices Market Size By Product (Transcutaneous Electrical Nerve Stimulation [TENS], Gastric Electric Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Spinal Cord Stimulator, Vagus Nerve Stimulator), By Application (Epilepsy, Essential Tremor, Pain Management, Depression, Dystonia, Urinary and Fecal Incontinence, Parkinson’s Disease Gastroparesis,), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

Industry Overview

Neurostimulation Devices Market size was valued at over USD 7,650 million in 2021. Driven by the growing popularity of minimally invasive procedures, the industry is expected to depict a CAGR of over 11% from 2022 to 2030.
 

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Minimally invasive procedures are surging in popularity over traditional open surgeries, mainly due to rapid recovery time and less scarring. This technique is widely accepted among neurological patients since it ensures less pain and medical costs. Several other key attributes, such as less blood loss and small incision length, are also making minimally invasive treatments a popular choice among patients, increasing neurostimulation devices industry size over the forecast period.
 

Major complications associated with neurostimulation devices may hinder industry development

Despite the rising application scope of neurostimulation devices, there are several complications associated with deep brain stimulation and other neurosurgical procedures. These include stroke, seizure, heart problems, bleeding in the brain, breathing problems, and misplacement of leads. Other complications of neurostimulators are also categorized into biological, hardware, and therapy- and programming-related, which may create a hindrance to steady industry development in years to come.
 

Rising incidence of chronic pain to drive the spinal cord stimulator segment demand

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On the basis of product type, the neurostimulation devices market is segmented into transcutaneous electrical nerve stimulation (TENS), deep brain stimulator (DBS), vagus nerve stimulator, spinal cord stimulator, gastric electric stimulator, and sacral nerve stimulator. Driven by the high incidence of chronic pain and failed back surgeries, the spinal cord stimulator segment will depict a commendable CAGR of over 8% through 2030. As per data from the Centers for Disease Control and Prevention, in 2019, 20.4% of adults in the U.S.  had chronic pain. Such scenarios will provide lucrative growth opportunities for the developers of spinal cord stimulators.
 

Rising elderly population will boost neurostimulator demand for pain management applications

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In terms of application, the neurostimulation devices market is categorized into pain management, Parkinson’s disease, gastroparesis, dystonia, essential tremor, epilepsy, and others. The pain management segment among these is projected to exhibit a CAGR of more than 12% through 2030. The growth can be credited to the expanding patient pool diagnosed with musculoskeletal disorders such as arthritis, osteoarthritis, and rheumatoid arthritis. The increasing availability of implantable neurostimulation devices for pain management in a growing adult population will be a prominent driver for the segmental expansion.
 

Europe to emerge as a major hub for neurostimulator devices industry players

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Regionally, Europe neurostimulation devices market is poised to exhibit a CAGR of 13.2% through 2030, which can be credited to an increase in the elderly population and chronic pain prevalence. The demand for neurostimulators will also be influenced by changing lifestyles and the consumption of junk foods and alcohol. In October 2019, the region’s first brain stimulator was authorized to treat depression, with at-home options being made available. These medical device innovation initiatives will result in the rampant growth of the regional industry through 2030.
 

Product innovations to foster the neurostimulation devices industry trends

Some of the key neurostimulation devices market players include Abbott, IntraPace, Boston Scientific, Laborie, LivaNova, Neuronetics, ElectroCore Inc., Aleva Synapse Biomedical Inc., EndoStim Inc., Medtronic, Cyberonics, BioControl Medical, SPR Therapeutics, and others. These companies are focusing on tapping the latest technologies to design innovative neurostimulation systems and strengthen their footprint in the market. For instance, in March 2021, Abbott launched NeuroSphere, a virtual clinic designed to aid deep brain stimulation patients in remotely programming and resetting their devices from the comfort of their homes.
 

Impact of COVID-19 on the Neurostimulation Devices Market Outlook

In wake of the COVID-19 pandemic, the neurostimulation devices industry witnessed a major slump, due to the supply chain challenges and limited workforce. Several non-emergency surgical procedures were also postponed during the initial months of the crisis. For example, the National Health Service hospitals were informed to temporarily suspend non-urgent surgeries for at least 3 months to address the challenges posed by the pandemic. However, with the gradual ease in the COVID-19 restrictions, the industry is set to witness a steady recovery over the forecast spell.
 

The neurostimulation devices market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030 for the following segments:

By Product Type

• Deep brain stimulators
• Transcutaneous electrical nerve stimulation (TENS)
• Gastric electric stimulators
• Spinal cord stimulators
• Vagus nerve stimulators
• Sacral nerve stimulators
• Others

By Application

• Pain Management
• Epilepsy
• Essential tremor
• Urinary and fecal incontinence
• Depression
• Dystonia
• Gastroparesis
• Parkinson's disease
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia