Neurostimulation Devices Market Analysis

Neurostimulation Devices Market Analysis

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The neurostimulation devices industry by product is categorized into deep brain stimulator, gastric electric stimulator, spinal cord stimulator, sacral nerve stimulator, vagus nerve stimulator, transcutaneous electrical nerve stimulation (TENS), and other products. The spinal cord stimulator segment garnered USD 3 billion revenue in 2022.
 

• The market expansion is attributable to rising prevalence of chronic pain and the increasing number of failed back surgeries. For instance, in 2021, according to the Centers for Disease Control and Prevention (CDC), around 20.9% of the U.S. adults suffered from chronic pain. Such scenarios are estimated to provide a massive growth opportunity to the spinal cord stimulator market segment.
   
• Moreover, growing R&D activities to develop advanced spinal cord stimulators coupled with launch of better and innovative devices for the treatment of neurological disorders are factors propelling the market growth.
   

Based on application, the neurostimulation devices market is segmented into pain management, epilepsy, essential tremor, urinary and fecal incontinence, depression, dystonia, gastroparesis, Parkinson’s disease, and other applications. The pain management segment was worth USD 5.9 billion in 2022.
 

• Increasing incidence of musculoskeletal disorders such as osteoarthritis, arthritis, rheumatoid arthritis, and orthopedic degenerative disorders will surge the segmental progression. Pain management will grow considerably owing to the availability of implantable stimulator devices to reduce chronic pain indications.
   
• Further, adults experience chronic pain, and these numbers are projected to rise significantly over the forecast timeframe that will further stimulate the demand for neurostimulation devices.  
   

U.S. neurostimulation devices market accounted for USD 4 billion revenue in 2022 and is predicted to witness substantial market growth.|
 

• The increasing prevalence of neurological diseases in the U.S. is projected to drive the market growth. For instance, according to the Centers for Disease Control (CDC) report, in the U.S. the burden of Alzheimer’s disease and related dementias (ADRD) will double by 2060. The rise in number of ADRD can be attributed to rising geriatric population base and unhealthy lifestyle.
   
• Additionally, increasing R&D and adoption of minimally invasive techniques along with the development of technologically advanced neurostimulation devices are few factors boosting the U.S. neurostimulation devices business growth.