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What are the recent trends in market size and growth for the peripheral nerve stimulators market?
The peripheral nerve stimulators market size has grown strongly in recent years. It will grow from $0.70 billion in 2024 to $0.77 billion in 2025 at a compound annual growth rate (CAGR) of 9.35%. The growth in the historic period can be attributed to growing demand for non-pharmacological pain management solutions, rising awareness about alternative therapies for pain relief, increased adoption of minimally invasive procedures, an expanding geriatric population, and a growing number of pain management clinics.
The peripheral nerve stimulators market size is expected to see strong growth in the next few years. It will grow to $1.08 billion in 2029 at a compound annual growth rate (CAGR) of 8.98%. The growth in the forecast period can be attributed to favorable government regulations and initiatives, growing preference for outpatient and home-based treatments, growing number of pain management clinics, rising demand for customized PNS devices, and growing healthcare infrastructure. Major trends in the forecast period include the development of wireless peripheral nerve stimulators, the integration of mobile apps for remote monitoring of PNS devices, the introduction of wearable, non-invasive PNS devices, and the introduction of advanced PNS systems with AI-powered pain management features.
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How have varous drivers impacted the growth of the peripheral nerve stimulators market?
The increase in the prevalence of neurological disorders is expected to propel the growth of the peripheral nerve stimulators market. Neurological disorders are medical conditions that affect the brain, spinal cord, or peripheral nerves, leading to functional, structural, or biochemical abnormalities. The prevalence of neurological disorders is attributed to factors such as aging populations, genetic predispositions, environmental influences, lifestyle choices, and the increasing awareness and diagnosis of these conditions. Peripheral nerve stimulators play a crucial role in reducing the prevalence of neurological disorders by providing targeted relief from chronic pain, enhancing motor function, and promoting nerve regeneration in affected areas. For instance, in March 2023, according to the Alzheimer’s Association, a US-based nonprofit voluntary health organization, in 2023, approximately 6.7 million Americans aged 65 and older are living with Alzheimer’s dementia, and this number is projected to rise to 13.8 million by 2060. Therefore, the increase in the prevalence of neurological disorders is driving the growth of the peripheral nerve stimulators.
What are the primary segments of the peripheral nerve stimulators market?
The peripheral nerve stimulators market covered in this report is segmented –
1) By Product: Transcutaneous, Percutaneous, Implantable
2) By Device: Stimulators, CPNB Catheters, Pain Pumps, Other Devices
3) By Mode of Purchase: Disposable Devices, Rechargeable Devices
4) By Application: Hospitals, Physiotherapy Centers, Ambulatory Surgical Centers, Clinics, Other Applications
Subsegments:
1) By Transcutaneous: TENS (Transcutaneous Electrical Nerve Stimulation) Units, Surface Electrodes
2) By Percutaneous: Single-Needle Percutaneous Stimulators, Multi-Needle Percutaneous Stimulators, Radiofrequency Percutaneous Stimulators
3) By Implantable: Spinal Cord Stimulators (SCS), Peripheral Nerve Stimulation (PNS) Devices, Neurostimulator Implants
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Which firms are leading the peripheral nerve stimulators market?
Major companies operating in the peripheral nerve stimulators market are Abbott Laboratories, Medtronic plc, Boston Scientific Corp., Globus Medical Inc., Livanova plc, Nevro Corp., Axonics Modulation Technologies, Saluda Medical Pty Ltd., Stimwave Technologies Incorporated, Nalu Medical Inc., Bioness Inc., SPR Therapeutics Inc., Neuspera Medical Inc., B. Braun Melsungen AG, NeuroMetrix Inc., BioElectronics Corporation, Soterix Medical Inc., Xavant Technology Pty Ltd., Neurostimulation Technologies, STIM Systems
How will emerging trends drive the peripheral nerve stimulators market throughout the forecast period?
Major companies operating in the peripheral nerve stimulators market are focusing on developing innovative products such as ultra-miniaturized systems to enhance patient comfort, improve treatment outcomes, and expand applications in various therapeutic areas. Ultra-miniaturized systems refer to highly compact and small-scale devices designed for advanced functionalities, often leveraging cutting-edge technologies to enhance performance, portability, and integration across various applications. For instance, in April 2023, NeuSpera Medical Inc., a US-based manufacturer of implantable medical devices, announced that it received U.S. Food and Drug Administration (FDA) clearance for the next-generation Neuspera ultra-miniaturized system for chronic peripheral nerve pain management. This device is uniquely designed to deliver targeted electrical impulses to peripheral nerves without the use of traditional leads, making it minimally invasive and reducing the risk of complications associated with lead-based devices. Its compact size allows for easy implantation with less tissue disruption, promoting faster recovery times. The micro-implant also offers the potential for long-term pain relief by directly stimulating the affected nerve pathways, providing an advanced solution for patients suffering from chronic peripheral nerve pain.
Which geographic trends are shaping the peripheral nerve stimulators market, and which region has the highest market share?
North America was the largest region in the peripheral nerve stimulators market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the peripheral nerve stimulators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Peripheral Nerve Stimulators Market Report 2025 Offer?
The peripheral nerve stimulators market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Peripheral nerve stimulators refer to medical devices designed to deliver electrical impulses to peripheral nerves in order to manage pain or improve motor function. They are used for treating chronic pain conditions, such as neuropathy, and for aiding in the rehabilitation of patients with nerve injuries or disorders by stimulating nerve activity.
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