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Neurostimulation Devices Market Trends

Report ID: GMI436
Published Date: Dec 2023
Report Format: PDF

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Neurostimulation Devices Market Trends

Elderly people are more prone to suffer from several neurological diseases due to anatomic and functional changes. Hence, the rising geriatric population base will act as a high impact rendering factor by increasing the demand of neurovascular devices, neurovascular embolization, and neurostimulation devices. The most common neurological disorders such as Alzheimer’s, dementia and Parkinson’s disease are common to affect people after 65 years of age. Thus, a growing geriatric population base will act as a crucial factor for the overall market.

According to the WHO estimates, the elderly patient base aged 60 years and more is anticipated to increase from 1 billion in 2020 to 1.4 billion in 2040. Further, by 2050 the elderly population base is estimated to double to approximately 2.1 billion.
Additionally, in developed nations, demand for minimally invasive procedures is rising due to quicker recovery time and less scarring as compared to traditional procedures. It is a popular choice among patients for the treatment due to additional benefits such as a smaller incision length, less blood loss, and minimized discomfort. As a result, proving beneficial for the overall business progression.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

The market size of neurostimulation devices was worth USD 8.3 billion in 2022 and is projected to reach USD 25.5 billion by 2032, attributed to the surging demand for minimally invasive surgeries coupled with the rising prevalence of neurological disorders.

The spinal cord stimulator segment accounted for USD 3 billion in 2022, due to the rising prevalence of chronic pain and the increasing number of failed back surgeries.

U.S. neurostimulation devices market was worth USD 4 billion in 2022 and is estimated to expand at a robust CAGR from 2023 to 2032, owing to the increasing prevalence of neurological diseases coupled with the increasing R&D activities and adoption of minimally invasive techniques.

Some of the leading neurostimulation devices players are Abbott Laboratories, Aleva Neurotherapeutics S.A, BioControl Medical, Boston Scientific Corporation, Endostim, Innovative Health Solutions, Inc., Laborie, Inc., LivaNova PLC, Medtronic plc, RS Medical, and Synapse Biomedical, among many others.