According to a recent analysis by Emergen Research, the market for neurostimulation devices will be valued USD 13.70 billion by 2027.
According to a recent analysis by Emergen Research, the market for neurostimulation devices will be valued USD 13.70 billion by 2027. The rising incidence of chronic neurological illnesses can be linked to the expansion of this sector. The increased need for minimally invasive procedures as a result of patients' and physicians' increasing preference for quicker healing and shorter hospital stays is anticipated to fuel the expansion of neurostimulation devices.
Using an implantable medical device to modulate and change brain activity for therapeutic purposes is known as neurostimulation. Neurostimulators, the tools used in neuromodulation, and neurostimulation as a technique are both used terms. The neurological operations of outpatient clinics were interfered with as a result of containment efforts taken by various countries during the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) pandemic.
The motor & psychological symptoms of vulnerable patients, such as those with Parkinson's disease (PD) or dystonic patients with Deep Brain Stimulation (DBS), were reported to worsen as a result of social restriction measures. These patients were also at a higher risk of chronic stress. Neurostimulators support the delivery of electrical stimulation to the patient's brain, peripheral nervous system, and spinal cord in order to treat neurologic illnesses. Movement disorders, epilepsy, Parkinson's disease, chronic pain, and depression are only a few of the illnesses that are treated with these in particular.
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Although the range of applications for neurostimulation devices is expanding, deep brain stimulation and other neurosurgery operations have a number of risks. These include stroke, seizure, heart issues, brain haemorrhage, breathing issues, and lead misplacement. Other issues with neurostimulators can be divided into biological, hardware, therapeutic, and programming issues. These issues could impede the continuous growth of the industry in the years to come.
Some Key Highlights from the Report
- The Intellis platform was introduced by Medtronic in 2019 to manage specific types of chronic intractable pain. The platform can support the Evolve workflow and was created to get around issues with current spinal cord stimulation (SCS) systems, namely battery performance. It can monitor chronic pain and track patients around-the-clock.
- The spinal cord, deep brain, sacral nerve, vagus nerve, and gastric electric stimulators segments of the global market have been established based on goods. Due to the extensive range of product applications and strong market penetration of commercially available devices in this category, the spinal cord stimulator segment dominated the market in 2021 and accounted for the biggest revenue share of more than 51.5%. This market's technological development is anticipated to fuel its growth. Spinal cord stimulators are used to treat non-malignant chronic neuropathic pain because they assist numb the discomfort by generating minute nerve impulses without altering the target area's anatomy.
- The global market has been divided into categories for pain management, epilepsy, essential tremors, incontinence (urinary and faecal), depression, dystonia, gastroparesis, Parkinson's disease, and others based on application. In 2021, the market's largest revenue share—more than 68.0%—belonged to the pain management sector. The main factors influencing the growth of this market are the high prevalence of chronic pain diseases and the rising product usage for pain management due to its high therapeutic value. Over the projection period, the category is anticipated to continue to grow at the quickest CAGR. Chronic pain, disc surgery pain, and leg pain are just a few of the illnesses covered in this section.
- Regionally, the market for neurostimulation devices in Europe is anticipated to grow at a CAGR of 13.2% through 2030, which can be attributed to an increase in the number of elderly people and the incidence of chronic pain. The intake of alcohol, bad food, and changing lifestyles will all have an impact on the need for neurostimulators. The first brain stimulator in the area to treat depression was authorised in October 2019, and at-home choices were made available. Through 2030, the regional sector will experience explosive growth as a result of these medical device innovation activities.
- Key participants include Boston Scientific Corporation, St. Jude Medical, Medtronic, Neuronetics, Inc., Codman & Shurtleff, Inc., Nevro Corporation, Intrapace, Abbott Laboratories, LivaNova PLC, and Bayer AG, among others.
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Emergen Research has segmented the global Neurostimulation Devices Market on the basis of Product, Application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Sacral Nerve stimulator
- Spinal Cord Stimulator
- Vagus Nerve Stimulator
- Gastric Electric Stimulators
- Deep Brain Stimulators
Application Outlook (Revenue, USD Billion; 2017-2027)
- Epilepsy
- Depression
- Dystonia
- Gastroparesis
- Pain management
- Urinary and Fecal Incontinence
- Essential Tremor
- Parkinson’s Disease
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
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