What is the current size and annual growth rate of the neurostimulation devices market?
The neurostimulation devices market size has grown rapidly in recent years. It will grow from $6.3 billion in 2024 to $7.1 billion in 2025 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to chronic pain management, aging population, awareness and acceptance, multidisciplinary approach.
The neurostimulation devices market size is expected to see rapid growth in the next few years. It will grow to $11.18 billion in 2029 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to minimally invasive techniques, emerging markets growth, regulatory support and reimbursement, telehealth and remote monitoring. Major trends in the forecast period include personalized therapy, wearable neurostimulation devices, advanced programming and connectivity, combination therapies.
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Which major factors have contributed to the expansion of the neurostimulation devices market?
The rising geriatric population across the globe is driving the growth of the neurostimulation device market. An increasing number of the population is aging, and this geriatric population is falling prey to different neurobiological disorders. For instance, in October 2022, WHO, a specialized agency of the United Nations responsible for international public health stated that in 2050, 80% of older people will be living in low- and middle-income countries. Between 2015 and 2050, the proportion of the world’s population over 60 years will nearly double from 12% to 22%.
How is the neurostimulation devices market segmented?
The neurostimulation devices market covered in this report is segmented –
1) By Product: Implantable Devices, External Devices
2) By Application: Pain Management, Epilepsy, Essential Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson’s Disease
3) By End User: Hospitals, Rehabilitation Centers, Medical Clinic
Subsegments:
1) By Implantable Devices: Spinal Cord Stimulators (SCS), Deep Brain Stimulators (DBS), Vagus Nerve Stimulators (VNS), Sacral Nerve Stimulators (SNS)
2) By External Devices: Transcranial Magnetic Stimulation (TMS) Devices, Transcranial Direct Current Stimulation (tDCS) Devices, Cranial Electrotherapy Stimulation (CES) Devices
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Who are the top competitors in the neurostimulation devices market?
Major companies operating in the neurostimulation devices market include Medtronic plc, Cyberonics Inc., Boston Scientific Corporation, Abbott Laboratories, Nevro Corporation, Neuronetics Inc., NeuroPace Inc., NeuroSigma Inc., Cochlear Ltd., NDI Medical LLC, Synapse Biomedical Inc., MED-EL, LivaNova PLC, DePuy Synthes Inc., Aleva Neurotherapeutics, BrainsWay, Cortec Corporation, Endonovo Therapeutics Inc., Inspire Medical Systems Inc., The Magstim Company Limited, Mainstay Medical Limited, MicroTransponder Inc., MindMaze, NeuroMetrix, Nexeon MedSystems, Nuvectra, Saluda Medical, SPR Therapeutics Inc., Uro Medical Corporation
How will industry trends affect the trajectory of the neurostimulation devices market?
Minimally invasive treatments are being developed for the treatment of various neurological disorders. The neurostimulation devices are being innovated in a way to cause minimum invasion during neurological treatments. For example, Deep Brain Stimulation (DBS) is a minimally invasive surgical procedure to treat neurological symptoms of Parkinson’s disease, including tremors, rigidity, and movement control. DBS uses a neurostimulation device, similar to a heart pacemaker, to deliver electrical pulses to a very precise location in the brain circuits that influence Parkinson’s disease symptoms. The electrical pulses from the DBS device block the activity of these circuits so the rest of the brain can function more normally.
Which geographic trends are shaping the neurostimulation devices market, and which region has the highest market share?
North America was the largest region in the global neurostimulation devices market in 2023. Asia-Pacific was the second-largest region in the neurostimulation devices market. The regions covered in the neurostimulation devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Neurostimulation Devices Market Report 2025 Offer?
The neurostimulation devices market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Neurostimulation devices are medical instruments used to deliver electrical impulses to specific parts of the nervous system to modulate nerve activity. These devices are commonly implanted in or placed on the body to treat various neurological conditions. Neurostimulation works by altering or blocking pain signals or by stimulating certain neural pathways to restore function. These devices are designed to improve patients’ quality of life by providing targeted and adjustable therapy.
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