Neurostimulation Devices Market Size - By Product (Deep Brain, Gastric Electric, Spinal Cord, Sacral Nerve, Vagus Nerve Stimulator), By Application (Epilepsy, Pain Management, Essential Tremor, Urinary & Fecal Incontinence) & Forecast, 2023 - 2032

Neurostimulation Devices Market Size - By Product (Deep Brain, Gastric Electric, Spinal Cord, Sacral Nerve, Vagus Nerve Stimulator), By Application (Epilepsy, Pain Management, Essential Tremor, Urinary & Fecal Incontinence) & Forecast, 2023 - 2032

Neurostimulation devices market is anticipated to record more than 12.2% CAGR during 2024 and 2032, driven by the increasing prevalence of neurological disorders and a growing aging population. According to the data from A World Stroke Organization – Lancet Neurology Commission, the number of people dying from a stroke is expected to increase by 50%, reaching nearly 9.7 million deaths each year by 2050.

The technological innovations and a rising demand for effective treatment options are another driving force for market growth. Neurostimulation devices have emerged as a pivotal solution in addressing various neurological conditions.

The overall neurostimulation devices market is classified based on product, application, and region.

The Deep Brain Stimulator (DBS) segment is predicted to witness substantial growth through 2032. This innovative technology involves the use of implanted devices that deliver electrical stimulation to specific areas of the brain, offering relief for patients suffering from neurological disorders such as Parkinson's disease, essential tremor, and epilepsy. The significant advancements in recent years, with improved precision and customization of stimulation patterns, enhancing therapeutic outcomes and minimizing side effects are pushing the demand for deep brain stimulators.

The Parkinson’s disease segment is expected to generate massive revenues in the market by 2032 as neurostimulation devices have emerged as a breakthrough in managing symptoms and improving the quality of life for patients. Parkinson's disease, characterized by tremors, stiffness, and impaired balance, poses significant challenges for those affected. Neurostimulation devices have proven to be effective in alleviating motor symptoms and enhancing the overall well-being of Parkinson's patients. As R&D in this field continue to advance, there will be increased product adoption in Parkinson's disease applications.

Europe neurostimulation devices market size will expand significantly through 2032, driven by the increasing healthcare expenditure, favorable reimbursement policies, and a rising prevalence of neurological disorders. The supportive regulatory environment, in consort with collaborations between key players and research institutions are fostering innovation and driving the development of advanced neurostimulation technologies, shaping the regional market outlook.