info@strategicmarketresearch.com
26, Broadway, Suite 934, New York , 10004
us US: +1-315-636-4233    uk UK: +44-162-237-0614     in IN: +91-826-083-6500
smrlogonew
  • Home
  • About
    • Why SMR
    • Research Methodology
    • Media Coverage
    • Join Our Team
  • Reports
    • Aerospace and Defense
    • Agriculture
    • Automotive
    • Chemicals and Materials
    • Consumer Goods
    • Energy and Power
    • Equipment and Machinery
    • Food and Beverages
    • Healthcare
    • Information and Communication Technology
    • Semiconductor and Electronics
    • Manufacturing and Construction
  • Our Practices
    • Syndicated Research
    • Consulting Services
    • Custom Research
    • Full-time Engagement Model
  • Insights
    • Press Release
    • Blog
  • Contact
 
Home » Healthcare » Neurostimulation Devices Market Size, Growth | Report 2030

Neurostimulation Devices Market By Technology (Internal Neuromodulation, External-Neuromodulation), By Application (Spinal Cord-Stimulation, Deep-Brain Stimulation, Sacral-Nerve Stimulation, Vagus-Nerve Stimulation, Gastric-Electrical Stimulation, Transcutaneous-Electric Nerve Stimulation, Transcranial-Magnetic Stimulation, Respiratory ElectricStimulation, Others) By Application Type (Dairy Products, Snacks, Meat & Poultry Products, Beverages, Bakery Products, Others) By Geography, Size, Share, Global Industry Analysis Report, Forecast, 2020-2030

Published On: Aug-2022   |   Base Year: 2020   |   No Of Pages: 140   |   Historical Data: 2017 - 2020   |   Formats: PDF   |   Report ID: 93033985

Industry Report and Statistics (Facts & Figures) - Demand & Sales, Number of Procedue Conducted by Technology & Application

The global neurostimulation devices market will witness a robust CAGR of 12.8%, valued at $4.796 billion in 2021, expected to appreciate and reach $50.7 billion by 2030, confirms Strategic Market Research. The human body's peripheral nervous system (PNS) and central nervous system (CNS) are impacted by neurological conditions such as Alzheimer's disease, Parkinson's disease, epilepsy, and cerebrovascular diseases. Neurostimulation technology is essential for treating certain neurological problems like Obsessive-Compulsive Disorder, ALS, etc. The electrodes within the apparatus produce electrical impulses to support the patients' neurological activity. These devices can either be external or implanted. The brain, PNS, or CNS, is the direct placement site for neurostimulation devices. The implantable neuro-stimulation devices target the cortical, deep subcortical structures for the modulation of neuronal activity and the treatment of various neuropsychiatric disorders through closed-loop therapy, functional MRI, Motor Cortex Stimulation, Neuroimaging, Electrochemical Monitoring, Neurostimulators, etc., thereby providing adequate therapeutic effects.

Some neurostimulation devices like Sacral nerve stimulators with Vagus nerve stimulators and Deep brain stimulators are used to treat patients with various ailments like hearing loss, pain management, urine incontinence, epilepsy, and Parkinson's disease. According to information released by the Hearing-Health Foundation in 2020, about 360 million people worldwide and 48 Mn Americans are impacted and affected by hearing loss. Additionally, according to information provided by the Epilepsy Centre, there are currently 50 million people living with epilepsy worldwide, and 2.4 million fresh cases are reported yearly. Additionally, most epileptic cases are generally idiopathic, with no known cause. The National Centre for Health Statistics at U.S. Centres for Disease Control & Prevention reports that in 2014, about 50% of older Americans reported having bowel or urinary leakage, around 25% reporting severe-to-moderate urinary leakage, and about 8% reporting severe-to-moderate bowel leakage. According to WHO data, the rising prevalence of urinary incontinence ranged from 9.9% to 36.1% in 2017. The market is expected and poised to grow due to the rise in neurological illnesses' incidence and prevalence.  

Neurostimulation Devices Market Infographics

Key Industry Drivers - The A Continuous Rise in Cases of Parkinson’s Disease, An Increase in The Old-Age Population, And A Massive Surge in The Number of Chronic Diseases.

  • The neurostimulation device market is anticipated to expand due to increased research into non-invasive brain stimulation for age-related neurodegenerative illnesses. Different deep brain stimulation (DBS) technologies considerably impact the market's growth. Parkinson's disease prevalence is considered a key factor in propelling the market for neurostimulation devices. Hence Neurostimulation therapies for the treatment of these diseases are essential. According to a survey and research, at least 60,000 new instances of Parkinson's disease are reported each year, affecting close to 1 million Americans. Therefore, there will probably be a demand for neurostimulation devices that will soon increase in response to the rising incidence of neurological illnesses.

 

  • Additionally, manufacturers are increasing their R&D spending to create cutting-edge products and technology, such as implantable neurostimulation devices, which is predicted to accelerate market expansion. Implanting a neurostimulation device is a minimally invasive procedure, and the market is anticipated to see new growth potential due to the growing demand for such procedures due to shorter hospital stays and quicker recovery. Furthermore, the advent of implantable neuro-stimulation devices for treating chronic pain, obesity treatment, Parkison’s Disease, movement disorders, etc., have significantly impacted market growth. Also, the prevalence of various neuro-stimulation device market trends like the devices used for Vagus nerve stimulation, Sacral Nerve Stimulation, etc., are propelling the overall market growth. In addition, The European Parkinson's Disease Association estimates that there are presently 1.2 million people living with Parkinson's disease in the European Union. Parkinson's disease affects over 260,000 netizens in Germany, 120,000 in the United Kingdom, and 150,000 in Italy. Another prominent driver of the market is the increase in the number of senior citizens.

 

  • According to a research study, in 2019, 703 million people worldwide were 65 or older. By 2050, it is expected and projected that there will be 1.5 billion senior people. In the entire world, the percentage of people who are 65 and older rose from 6% in 1990 to 9% in 2019. The elderly population experiences more surgeries, pains, and chronic conditions, increasing the use of efficient pain relief technology. In the elderly population, chronic pain is extremely common. It is an element that will contribute to the market's enormous demand in the approaching year. Infusion pumps, electrical nerve stimulators, and spinal cord stimulators are used more frequently. For instance, the prevalence of chronic pain increased with age in 2020, with an estimated 25% of American adults (90.0 million) and 10.0% of American adults (30.6 million) reporting high-impact chronic pain.

 

Restraints:

  • The market's expansion is poised to be restricted by side effects like allergic response and prickling or tingling of the skin due to the implantation of neurostimulation devices into the body.

 

  • Apart from that, the higher costs of neurostimulation devices are also plummeting market growth.

 

Opportunities - Rise In Initiatives by Renowned Companies for Managing Parkinson’s Disease and The Rapid Technological Advancements.

  • The desire for better production efficiency and outcomes has increased, thereby prompting the creation of cutting-edge products and technology to meet the unmet demands of patients and surgeons. Companies have created unique devices and technologies, such as neurostimulation devices, to enhance the overall condition of the patient affected by neurological illnesses and provide improved & innovative remedies to meet medical needs in this field.As per a research study, neurological disorders accounted for 300 million disability-adjusted life years(DALYs) in 2020, or 15.6% of all DALYs worldwide. The Primary Cell and Deep Brain Stimulation system for managing Parkinson's disease symptoms was introduced by Boston Scientific in January 2019. These systems are expected to cater to a plethora of opportunities in the future.

 

  • In addition, the new Declare DRG neurostimulation system was introduced by Abbott Laboratories in Europe. For individuals with chronic neuropathic pain, the Proclaim DRG neurostimulation device is intended to offer dorsal root ganglion (DRG) stimulation. Abbott is the first and only business to provide DRG therapy and focused pain management for certain forms of chronic pain. Thus, the global market for neurostimulation devices is driven by the primary trend of creating and commercializing innovative electrical stimulation devices, which will provide extensive opportunities for market growth in the future.

Neurostimulation Devices Market by Share

Neurostimulation Devices Market Analysis Of Different Segments Covered in the Report

Based on Technology

  • Internal Neuromodulation

    • Spinal-Cord Stimulation

    • Gastric-Electrical Stimulation

    • Vagus-Nerve Stimulation

    • Sacral-Nerve Stimulation

    • Deep-Brain Stimulation

 

  • External-Neuromodulation

    • TENS/Transcutaneous-ElectricNerve Stimulation

    • TMS/Transcranial-Magnetic Stimulation

    • RES/Respiratory-Electrical Stimulation

 

Based on Application

  • Parkinson’s Disease

  • Chronic Pain

  • Migraine

  • Epilepsy

  • Tremor

  • Depression

  • Urinary & Faecal Incontinence

  • Others

 

Regional Coverage Analysis

Based on Region Analysis

  • The region of NorthAmerica

    • US

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • RoE

  • Asia Pacific

    • Japan

    • China

    • India

    • Rest of the Asia-Pacific

  • Rest of the World

    • Latin America

    • The African region &Middle East

Neurostimulation Devices Market by Application

Technology Analysis & Insights

The market is ramified into the spinal cord, Vagus nerve, sacral nerve, deep brain, and gastric electric stimulator. The extensive range of product applications and high market penetration of commercially available products in this category, for instance, the spinal-cord stimulator, dominated the market for the year 2021, resulting in the biggest revenue share of nearly 51.5 %. This market's technological development is anticipated to fuel its growth. Spinal-cord stimulators treat a non-malignant chronic type of neuropathic pain because they assist in numbing the discomfort by generating minute nerve impulses irrespective of the alternation of the target area's anatomy. The usage of deep- brain stimulators is utilized to treat a variety of neurological conditions, particularly Parkinson's disease. These gadgets are now experimental because they are entirely based on young technology. The FDA has not yet approved using these devices for treating conditions like Alzheimer's, refractory epilepsy, Tourette syndrome, trigeminal neuralgia, cluster headaches, and multiple sclerosis-related movement disorders. From 2022 to 2030, the market for sacral nerve stimulators that are used to treat chronic disorders such as fecal and urine incontinence is anticipated to grow quickly. The main driver for this market segment is growing public awareness of these gadgets. The segment growth, however, could be hampered by several dangers related to the installation of these sorts of devices, including mechanical inabilities & post-operative aches and infections.

 

Application Analysis & Insights

In terms of Application, the Parkinson’s disease segment significantly dominated the overall market with a share of approximately 26.31%. It is one of the most common neurogenerative disorder of the brain which causes serious problems in body movement. GBD or Global Burden Diseases reported that in 2020, approximately 6.23 Mn people worldwide suffered with Parkinson’s disease. Also as per Parkinson’s Foundation, around 60k people in United States are diagnosed each year with PD (Parkinson’s disease) and nearly 4% people suffering from PD are diagnosed before they reach 50 years of age. Hence, the continuous surge of PD cases are augmenting the worldwide market growth significantly.

 

Regional Analysis & Insights

Around 60.0 % of global revenue was generated in North America for 2021, and this region is expected to continue its dominance during the projection period. The region's development could be hampered by stringent government rules and an increased need for FDA approval. Regarding revenue share, Europe came second to North America. This rise is anticipated to proliferate significantly due to the swift economic development of Eastern European nations. Additionally, obtaining a C.E. approval is simpler than getting an FDA clearance; hence, this region has a greater production penetration rate. Additionally, the region's growing senior population will probably assist industry expansion. Conversely, from 2022 to 2030, the Asia-Pacific territory is anticipated to experience the fastest growth rate. Due to the availability of unmet medical necessities & untapped development potential, various foreign manufacturers are moving their manufacturing bases to this region, which might contribute to this growth. Furthermore, it is predicted that the market expansion in the APAC territory will be aided by the swift economic development of emerging nations like China and India, as well as rising healthcare costs. 

Neurostimulation Devices Market by Region

Neurostimulation Devices Market Report Coverage

Report-Attribute

Details

The overall Market size in 2020

USD 4.796 billion

Forecasted Revenue for 2030

USD 50.7 billion

Growth-rate

CAGR of almost 12.8%

Base year taken

2021

Historical data

2017 - 2020

Forecast period

2021 - 2030

Quantitative units

Revenue in USD million/billion, Volume in 000 units, and CAGR from 2020 to 2030

Coverage of the Report

Volume forecast, Revenue forecast, competitive landscape, growth factors, &trends

Segments coverage

Product, application, and region

Regional scope

Latin America, North America, Europe, the Middle East, and Africa;

Country scope

Canada; U.S.; U.K.; Deutschland; France; Italy; Spain; India; Russian federation; Singapore; China; Japan; South Korea; Australia; Mexico; Argentina; Brazil; South Africa; Saudi Arabia; UAE

Companies Included

Cyberonics; Medtronic; St. Jude Medical, Inc.; Nevro Corp, Boston Scientific Corp;.

Scope of Customization

Free report customization with purchase. Additional or alteration to the regional, country,& segment scope.

Purchase& pricing options

Utilize specialized purchasing choices to satisfy your precise research needs.

Neurostimulation Devices Market Competitive Landscape Analysis

To create innovative products and technology, manufacturers are placing more emphasis on R&D efforts. Strategic initiatives of the companies is to obtain a competitive advantage are regional expansions and M&As. The following are a few of the well-known businesses present in the global market for neurostimulation devices:

  • St. Jude Medical, Inc.

  • Nevro Corp.

  • Cyberonics

  • Boston Scientific Corp.

  • Medtronic PLC

  • Neutronics Inc.

  • Aleva Therapeutics SA

  • ElectroCore Inc.

  • NeuroSigma, Inc.

  • EndoStim Inc.

  • Synapse Biomedical Inc.

  • NeuroPace Inc.

 

Recent Developments:

  • On Sep 2022, DyAnsys’ Neurostimulation device, PENS (Percutaneous Electrical Nerve Stimulator) successfully received FDA approval for the treatment of post cardiac surgery pain. This device can be used effectively for upto 3 days after the cardiac surgery has been performed on an individual. The organization also announced that this device acts as a significant pain-reliever and is devoid of any sort of narcotics usage.

 

  • On July 2022, First Relief, percutaneous electrical neurostimulation (PENS) device, was approved by the US FDA for multiple treatments up to fifty-six days for symptomatic relief of chronic and intractable pain caused by diabetic peripheral neuropathy announced by Dyansys Inc. The wearable device is placed on the ear that administers persistent pulses of low-level electrical current over a period of several days.

 

  • On July 2022, Deep brain stimulation developed by Abbott was approved for the treatment of severe depression. Its deep brain stimulation (DBS) technology has given FDA breakthrough device classification. With the ground-breaking approval, Abbott can now examine the application of its DBS system in cases of treatment-resistant depression (TRD), a type of major depressive illness (MDD).

 

  • On July 2022, The US Food and Drug Administration (FDA) granted the medical technology company Nyxoah an investigational device exemption (IDE) approval to conduct the access clinical study of their Genio system. An adult patient's moderate to severe Obstructive Sleep Apnoea (OSA) can be treated with the Genio system, a next-generation neurostimulation device. It is the first single-incision, leadless, and battery-free neurostimulator worldwide. By stimulating the hypoglossal nerve bilaterally, the gadget maintains the upper airway while the user sleeps, enabling them to get hold of a good night's sleep.

 

  • On June 2022, the first patient was enrolled in a SpineX trial using spinal neuromodulation technology. SpaceX revealed that the first patient had been recruited in their key trial examining the Scone neuromodulation device. SpaceX, a Los Angeles-based company, will assess the efficacy and safety of using non-invasive spinal neuromodulation technology to treat neurogenic bladder.

 

The Top Manufacturers in The Market Make a Variety of Equipment, Including:

Name

Feature

Key Player

 

 

 

Cardiac resynchronization therapy

 

Cardiac resynchronization therapy (CRT or CRT-P) involves inserting electrodes into the right and left ventricles of the heart and occasionally the right atrium. This procedure treats heart failure by synchronizing the left and right ventricles' functions using a pacemaker, a small device inserted into the interior of the chest wall.

Patients with heart failure, poor ejection fraction (usually 35%), impaired electrical activity, and QRS prolongation to >120 ms are candidates for CRT.

Under local anesthesia, electrodes are inserted into the ventricles, which are most typically accessed through the subclavian vein. The term "CRT-P" is frequently used to distinguish CRT with a pacemaker (CRT) and CRT without a defibrillator (CRT-D).

 

 

 

 

St. Jude Medical, Inc.

 

 

 

 

  Omnia

 

Increased adaptability to optimize patients remotely using a programming strategy inspired by data from 70k+ patients in the HFX CloudTM.

Improving Remote Support:

  • Check for remote MRI impedance

  • Enhanced with seven times more customizable programs.

A greater range of frequencies and waveforms:

  • Future-proof in terms of waveforms and frequency.

  • Any frequency ranging from 2-1,200 Hz to 10,000 Hz

 

 

 

 

Nevro Corp.

 

RF3000

 

Specifically made to work with the RF3000TM :

·       A large matrix of array diameters ranging from 2 to 5 cm.

  • Umbrella-shaped array.

• The sole RFA method that appropriately evaluates the procedure endpoint through the use of impedance

• Small 1.5 cm by 1 cm ablation zones with Soloist Single Needle Electrode

Variety of Cannula Designs

  • CoAccess Needle Electrode System enables a coaxial entry port for one or multiple insertions, including biopsy probe access.

  • Depth markings at 1cm intervals are designed for accuracy of placement.

       • A minimally invasive needle electrode called the LeVeen SuperSlim

Boston Scientific Corp.

 

Frequently Asked Question About This Report


Sources

https://hearinghealthfoundation.org/hearing-loss-tinnitus-statistics

https://www.who.int/health-topics/epilepsy#tab=tab_1

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8295103/

https://parkinsonsdisease.net/basics/statistics

https://www.un.org/en/development/desa/population/publications/pdf/ageing/WorldPopulationAgeing2019-Highlights.pdf

 

.

Choose License Type


$4485
$6449
$8339
Buy Now
"Click to avail the latest sample copy of the report"
Request Sample
"Probe before placing the order"
Pre-Order Enquiry
"Let's optimize your ROI by furnishing the best price"
Request Discount
"Want to curate the report according to your business needs:"
Ask for Customization
Related Reports
    Neuroendoscopy Devices Market

     Published Date :Apr-2022


    Neurovascular Devices Market

     Published Date :Apr-2022


    Neuromodulation Devices Market

     Published Date :Jul-2022


Buy Now
Request Sample

Trust Online

  • paypal.png
  • wiretransfers

Follow Us

  • facebook
  • twitter
  • instagram
  • linkedin

Contact Us

  • US: +1-315-636-4233
  • UK: +44-162-237-0614
  • IN: +91-826-083-6500
  • info@strategicmarketresearch.com
  • Strategic Market Research
    26, Broadway Suite 934, New York , 10004

Quick Link

  • Why SMR
  • Research Methodology
  • Media Coverage
  • Join Our Team
  • Press Release
  • Blog

Customer Support

  • FAQs
  • Contact
  • Terms of Use
  • Privacy Policy
  • Disclaimer Policy
  • Return Policy
Copyright © 2022 Strategic Market Research All rights reserved.