What is the global market size of Neurostimulation Devices Market?

Global Neurostimulation Devices Market size was valued at USD 4.6 billion in 2021 and is poised to grow from USD 5.3 billion in 2022 to USD 12.33 billion by 2030, growing at a CAGR of 12.8% in the forecast period (2023-2030).

Global Neurostimulation Devices Companies

Q: Which region accounted for the largest share in Global Neurostimulation Devices Market?

North America dominated the global neurostimulation devices market, accounting for a significant share of the market. The growth in the North American region is primarily attributed to the increasing prevalence of neurological disorders, the presence of advanced healthcare infrastructure, and the high adoption rate of technologically advanced neurostimulation devices. Furthermore, the availability of a large number of key players and the high disposable income of the population are contributing to market growth in this region.

Neurostimulation Devices Market Competitive Landscape

The global neurostimulation devices market is highly competitive and is characterized by the presence of several large and small players. The market players are focusing on strategic initiatives such as mergers and acquisitions, partnerships, collaborations, and new product launches to strengthen their market position. Additionally, players are investing in research and development activities to develop technologically advanced neurostimulation devices and expand their product portfolio. The increasing competition among market players is expected to lead to product innovation and technological advancements, thereby driving market growth in the coming years.

Top Player’s Company Profiles in Global Neurostimulation Devices Market

Medtronic (Ireland)

Abbott Laboratories (US)

Boston Scientific Corporation (US)

LivaNova PLC (U.K.)

Nevro Corp. (US)

NeuroPace, Inc. (US)

Synapse Biomedical Inc. (US)

Neuronetics, Inc. (US)

Cyberonics, Inc. (US)

St. Jude Medical, Inc. (US)

Cogentix Medical, Inc. (US)

NDI Medical LLC (US)

Stimwave Technologies (US)

BioControl Medical (Israel)

EndoStim (US)

EnteroMedics (US)

Aleva Neurotherapeutics (Switzerland)

SPR Therapeutics (US)

electroCore, Inc. (US)

Soterix Medical Inc. (US)

Global Neurostimulation Devices Market

FAQs

Neurostimulation Devices Market size was valued at USD 5.3 Billion in 2022 and is poised to grow from USD 5.98 Billion in 2023 to USD 15.67 Billion by 2031, at a CAGR of 12.80% during the forecast period (2024-2031).

The neurostimulation devices market is highly competitive and is characterized by the presence of several large and small players. The market players are focusing on strategic initiatives such as mergers and acquisitions, partnerships, collaborations, and new product launches to strengthen their market position. Additionally, players are investing in research and development activities to develop technologically advanced neurostimulation devices and expand their product portfolio. The increasing competition among market players is expected to lead to product innovation and technological advancements, thereby driving market growth in the coming years. 'Medtronic (Ireland)', 'Abbott Laboratories (US)', 'Boston Scientific Corporation (US)', 'LivaNova PLC (U.K.)', 'Nevro Corp. (US)', 'NeuroPace, Inc. (US)', 'Synapse Biomedical Inc. (US)', 'Neuronetics, Inc. (US)', 'Cyberonics, Inc. (US)', 'St. Jude Medical, Inc. (US)', 'Cogentix Medical, Inc. (US)', 'NDI Medical LLC (US)', 'Stimwave Technologies (US)', 'BioControl Medical (Israel)', 'EndoStim (US)', 'EnteroMedics (US)', 'Aleva Neurotherapeutics (Switzerland)', 'SPR Therapeutics (US)', 'electroCore, Inc. (US)', 'Soterix Medical Inc. (US)'

One of the key drivers of the neurostimulation devices market is the rising prevalence of neurological disorders worldwide. According to the World Health Organization, neurological disorders are responsible for a significant burden of disease globally, affecting millions of people worldwide. The increasing incidence of neurological disorders, such as Parkinson's disease, epilepsy, and chronic pain, is leading to a growing demand for neurostimulation devices as an effective treatment option. As a result, manufacturers are investing in research and development to develop advanced neurostimulation devices, which is expected to further propel market growth.

The key trends in the neurostimulation devices market is the development of minimally invasive and non-invasive neurostimulation technologies. These technologies are gaining popularity due to their advantages over traditional surgical procedures, including reduced pain, shorter hospital stays, and faster recovery times. Additionally, the development of wireless and implantable devices is also driving market growth. These devices offer greater convenience and comfort for patients, as they do not require external wires or bulky external devices. The trend towards minimally invasive and non-invasive neurostimulation technologies is expected to continue in the coming years, fueling market growth.

North America dominated the neurostimulation devices market, accounting for a significant share of the market. The growth in the North American region is primarily attributed to the increasing prevalence of neurological disorders, the presence of advanced healthcare infrastructure, and the high adoption rate of technologically advanced neurostimulation devices. Furthermore, the availability of a large number of key players and the high disposable income of the population are contributing to market growth in this region.

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Neurostimulation Devices Market Size, Share, Growth Analysis, By Type(Implantable Devices and Non-Implantable Devices), By Application(Pain Management and Parkinson's Disease) - Industry Forecast 2024-2031

Neurostimulation Devices Market Competitive Landscape

Neurostimulation Devices Market Report Snapshots

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Neurostimulation Devices Market Size, Share, Growth Analysis, By Type(Implantable Devices and Non-Implantable Devices), By Application(Pain Management and Parkinson's Disease) - Industry Forecast 2024-2031

Neurostimulation Devices Market Competitive Landscape

Neurostimulation Devices Market Report Snapshots

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What is the market size of Neurostimulation Devices Market?

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Which region accounted for the largest share in Neurostimulation Devices Market?

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