Global Neurostimulation Devices Market -2024-2031

Global Neurostimulation Devices Market -2024-2031


Global neurostimulation devices market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Neurostimulation devices are medical devices designed to modulate the nervous system's activity through the application of electrical impulses. These devices are used to treat a variety of neurological and psychiatric conditions by targeting specific neural circuits and altering their function. Neurostimulation therapy aims to alleviate symptoms, improve patient outcomes and enhance quality of life for individuals with various disorders.

The basic principle behind neurostimulation involves the delivery of controlled electrical signals to targeted areas of the nervous system, such as the spinal cord, brain or peripheral nerves. By stimulating or inhibiting neural activity, neurostimulation devices can modulate pain signals, regulate movement, manage epilepsy, alleviate psychiatric symptoms and address other neurological dysfunctions.

Market Dynamics: Drivers

Rising advancements in neurostimulation devices

The rising advancements in neurostimulation devices are expected to drive the market over the forecast period. Emerging technologies in non-invasive and wearable neurostimulation devices offer convenient and accessible treatment options for patients with neurological and psychiatric disorders. These devices leverage techniques such as transcranial magnetic stimulation and transcutaneous electrical nerve stimulation to deliver neurostimulation therapy without the need for invasive procedures, expanding market reach and patient accessibility.

For instance, on April 18, 2023, Neuspera Medical cleared the U.S. Food and Drug Administration (FDA) clearance for the next-generation Neuspera ultra-miniaturized system. The system is comprised of a micro-implant that delivers neurostimulation therapy through a wearable transmitter and iPad-based clinician programmer. The Neuspera system delivers peripheral nerve stimulation (PNS) through a less invasive and more versatile platform than commercially available technology.

Advancements in neurostimulation technology lead to more precise targeting of neural circuits and improved modulation of neural activity, resulting in enhanced treatment efficacy for various movement disorders, neurological and psychiatric disorders. These advancements enable clinicians to achieve better symptom management, functional improvement, and quality of life enhancement for patients.

For instance, on January 8, 2024, Medtronic plc cleared the U.S. Food and Drug Administration (FDA) approval for its Percept RC Deep Brain Stimulation (DBS) system. The rechargeable neurostimulator is the latest innovation in the Medtronic Percept family. The Percept family is the only sensing-enabled DBS system on the market, allowing the physician to personalize treatment for patients with movement disorders such as Parkinson's disease, essential tremor, and dystonia as well as epilepsy. Over 11 million people in the U.S. are living with movement disorders and approximately 3.4 million with epilepsy.

In addition, on January 25, 2024, Abbott received approval from the U.S. Food and Drug Administration (FDA) to launch the Liberta RC DBS system, the world's smallest rechargeable deep brain stimulation (DBS) device with remote programming, to treat people living with movement disorders. The Liberta RC DBS system also requires the fewest recharges of any FDA-approved DBS system, needing only 10 recharge sessions a year for most people. Communication between people and their doctors is critical to ensuring exceptional care, especially for those who suffer from chronic conditions, such as Parkinson's disease and essential tremor, that can be treated with deep brain stimulation therapy.

These advancements in neurostimulation devices expand the applications in various disease patients. For instance, on October 10, 2022, Phagenesis Ltd, released that the U.S. Food and Drug Administration (FDA) granted a De Novo request for the Phagenyx Neurostimulation System, a first-of-its-kind therapy that uses pharyngeal electrical stimulation to restore swallowing control in patients with severe dysphagia post-stroke.

Restraints

Factors such as high cost associated with the neurostimulation devices, complications associated with these devices and availability of alternative treatment options for neurological disorders are the factors expected to hamper the market.

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Segment Analysis

The global neurostimulation devices market is segmented based on product, type, application, end-user and region.

The implantable neurostimulation devices segment accounted for approximately 54.5% of the neurostimulation devices market share

The implantable neurostimulation devices segment is expected to hold the largest market share over the forecast period. Implantable neurostimulation devices offer effective management of neurological and psychiatric symptoms, including chronic pain, movement disorders, epilepsy, depression and others. By modulating neural activity, these devices can alleviate symptoms and improve patient's quality of life when other treatment options have been ineffective.

For instance, on June 29, 2021, Mainstay Medical launched its ReActiv8 implantable restorative neurostimulation system in the U.S. The company designed ReActiv8 to treat intractable chronic lower back pain.

Additionally, on December 19, 2022, Abbott cleared the U.S. Food and Drug Administration (FDA) approval of the Eterna spinal cord stimulation (SCS) system, the smallest implantable, rechargeable spinal cord stimulator currently available on the market for the treatment of chronic pain. Eterna SCS utilizes Abbott's proprietary low-dose BurstDR stimulation, the only SCS waveform technology with the highest level of clinical evidence, proven to reduce pain 23% more than traditional waveform technology approaches. With patient needs front of mind, Abbott created Eterna to be recharged less than five times a year under normal use, making it the lowest recharge burden platform on the market.

Further, the implantable neurostimulation devices allow for targeted delivery of therapy directly to the affected neural circuits or pathways. By precisely modulating neural activity at specific sites within the nervous system, these devices can provide localized symptom relief while minimizing systemic side effects. The advancements such as recharge-free and maintaining optimal dose and others enhance the adoption of implantable devices.

For instance, on June 10, 2021, Medtronic plc received U.S. Food and Drug Administration (FDA) approval for Vanta, a high-performance recharge-free implantable neurostimulator (INS) with a device life that can be optimized for up to 11 years. At comparable settings, the Vanta neurostimulator offers nearly twice the device life than competitive primary cell devices. It also utilizes Medtronic's proprietary AdaptiveStim technology for personalized pain relief that adapts to the patient's movement or body position using a built-in accelerometer. Approximately 82% of SCS-implanted patients will need at least one MRI within five years of implant.

Geographical Analysis

North America accounted for approximately 41.4% of the market share

North America region is expected to hold the largest market share over the forecast period owing to the strong presence of major players and rising advancements in neurostimulation devices. North America especially the United States is a well-known hub for its strong presence of major players such as medical device companies. This presence of major players in the region focuses on the development of advanced neurostimulation devices for various conditions followed by FDA approvals.

For instance, on January 25, 2021, Cognito Therapeutic’s neurostimulation device — a next-generation digital therapeutic designed to treat memory and cognition symptoms in Alzheimer’s disease granted a breakthrough device designation by the U.S. Food and Drug Administration (FDA). The device, part of a new class of disease-modifying digital therapies, uses proprietary, non-invasive neurostimulation technology developed by Massachusetts Institute of Technology professors.

Additionally, on October 12, 2022, Nevro Corp. received approval from the U.S. Food and Drug Administration (FDA) for the Senza HFX iQ spinal cord stimulation (SCS) system. Senza HFX iQ is the first and only Artificial Intelligence-based SCS system that learns from patients. It was developed to address the variability in pain from patient to patient and to help patients optimize and maintain long-term pain relief and improved quality of life.

The major market players in the region especially in the United States conducted clinical trials for the more advanced devices. For instance, on January 12, 2024, US-based Nexalin Technology unveiled a third-generation HALO Clarity 15 milliamp (mA) neurostimulation device. The company plans to conduct decentralized clinical trials for the HALO device in the US and has consulted the Food and Drug Administration (FDA) as part of the pre-submission meetings. Nexalin expects these trials to be completed at lower costs in a quicker timeframe due to at-home administration of the treatment

Competitive Landscape

The major global players in the neurostimulation devices market include Boston Scientific Corporation, Medtronic plc, NeuroPace, Inc., Abbott Laboratories, Nalu Medical, Inc., Curonix LLC, LivaNova PLC, Nevro Corp, Dr. Langer Medical GmbH and Phagenesis Ltd among others.

COVID-19 Impact Analysis

The COVID-19 pandemic significantly impacted the global neurostimulation devices market. The severe coronavirus disease 2019 (COVID-19) is characterized, in part, by an excessive inflammatory response. Evidence from animal and human studies suggests that vagus nerve stimulation can lead to reduced levels of various biomarkers of inflammation. For instance, Research Square researchers assessed the effectiveness of transcutaneous auricular vagus nerve stimulation (taVNS) in managing long-term coronavirus disease 2019 (COVID-19). These increased the demand for the neurostimulation devices during the pandemic.

Market Segmentation

By Product
• Implantable Neurostimulation Devices
• External Neurostimulation Devices

By Type
• Spinal Cord Stimulation Devices
• Deep Brain Stimulation Devices
• Vagus Nerve Stimulation Devices
• Sacral Nerve Stimulation Devices
• Peripheral Nerve Stimulation Devices
• Others

By Application
• Epilepsy
• Chronic Pain Management
• Parkinson's Disease
• Depression and Psychiatric Disorders
• Sleep Disorders
• Others

By End-User
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Academic and Research Institutes
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Why Purchase the Report?
• To visualize the global neurostimulation devices market segmentation based on product, type, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of neurostimulation devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global neurostimulation devices market report would provide approximately 69 tables, 74 figures and 197 Pages.

Target Audience 2024
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies


1. Methodology and Scope
1.1. Research Methodology
1.2. Research Objective and Scope of the Report
2. Definition and Overview
3. Executive Summary
3.1. Snippet by Product
3.2. Snippet by Type
3.3. Snippet by Application
3.4. Snippet by End-User
3.5. Snippet by Region
4. Dynamics
4.1. Impacting Factors
4.1.1. Drivers
4.1.1.1. Rising Advancements in Neurostimulation Devices
4.1.2. Restraints
4.1.2.1. High Cost Associated with the Devices
4.1.3. Opportunity
4.1.4. Impact Analysis
5. Industry Analysis
5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Unmet Needs
5.6. PESTEL Analysis
5.7. Patent Analysis
5.8. SWOT Analysis
6. COVID-19 Analysis
6.1. Analysis of COVID-19
6.1.1. Scenario Before COVID
6.1.2. Scenario During COVID
6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Government Initiatives Related to the Market During the Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion
7. By Product
7.1. Introduction
7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
7.1.2. Market Attractiveness Index, By Product
7.2. Implantable Neurostimulation Devices*
7.2.1. Introduction
7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. External Neurostimulation Devices
8. By Type
8.1. Introduction
8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
8.1.2. Market Attractiveness Index, By Type
8.2. Spinal Cord Stimulation Devices*
8.2.1. Introduction
8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Deep Brain Stimulation Devices
8.4. Vagus Nerve Stimulation Devices
8.5. Sacral Nerve Stimulation Devices
8.6. Peripheral Nerve Stimulation Devices
8.7. Others
9. By Application
9.1. Introduction
9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
9.1.2. Market Attractiveness Index, By Application
9.2. Epilepsy*
9.2.1. Introduction
9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
9.3. Chronic Pain Management
9.4. Parkinson's Disease
9.5. Depression and Psychiatric Disorders
9.6. Sleep Disorders
9.7. Others
10. By End-User
10.1. Introduction
10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
10.1.2. Market Attractiveness Index, By End-User
10.2. Hospitals*
10.2.1. Introduction
10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
10.3. Specialty Clinics
10.4. Ambulatory Surgical Centers
10.5. Academic and Research Institutes
10.6. Others
11. By Region
11.1. Introduction
11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
11.1.2. Market Attractiveness Index, By Region
11.2. North America
11.2.1. Introduction
11.2.2. Key Region-Specific Dynamics
11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.2.7.1. U.S.
11.2.7.2. Canada
11.2.7.3. Mexico
11.3. Europe
11.3.1. Introduction
11.3.2. Key Region-Specific Dynamics
11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.3.7.1. Germany
11.3.7.2. UK
11.3.7.3. France
11.3.7.4. Italy
11.3.7.5. Spain
11.3.7.6. Rest of Europe
11.4. South America
11.4.1. Introduction
11.4.2. Key Region-Specific Dynamics
11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.4.7.1. Brazil
11.4.7.2. Argentina
11.4.7.3. Rest of South America
11.5. Asia-Pacific
11.5.1. Introduction
11.5.2. Key Region-Specific Dynamics
11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
11.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
11.5.7.1. China
11.5.7.2. India
11.5.7.3. Japan
11.5.7.4. Australia
11.5.7.5. Rest of Asia-Pacific
11.6. Middle East and Africa
11.6.1. Introduction
11.6.2. Key Region-Specific Dynamics
11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product
11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
11.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
11.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
12. Competitive Landscape
12.1. Competitive Scenario
12.2. Market Positioning/Share Analysis
12.3. Mergers and Acquisitions Analysis
13. Company Profiles
13.1. Boston Scientific Corporation*
13.1.1. Company Overview
13.1.2. Product Portfolio and Description
13.1.3. Financial Overview
13.1.4. Key Developments
13.2. Medtronic plc
13.3. NeuroPace, Inc.
13.4. Abbott Laboratories
13.5. Nalu Medical, Inc.
13.6. Curonix LLC
13.7. LivaNova PLC
13.8. Nevro Corp
13.9. Dr. Langer Medical GmbH
13.10. Phagenesis Ltd
LIST NOT EXHAUSTIVE
14. Appendix
14.1. About Us and Services
14.2. Contact Us

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