Neurostimulation Device Market: Information by Product (Spinal Cord Stimulator), Application (Pain Management, Urinary and Fecal Incontinence), and Region — Forecast till 2029

Aug 28, 2020   Neurostimulators are used for neuromodulation, a process where an implantable medical device is used to regulate and alter neurological activities, aiming to assist therapeutics and treatment. These neurostimulation devices are used to deliver electrical signals intended to stimulate the patient's brain, peripheral nervous system, and spinal cord that helps in treating neurologic disorders. These stimulation techniques are particularly used for treating movement disorders, epilepsy, Parkinson's ...
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Neurostimulators are used for neuromodulation, a process where an implantable medical device is used to regulate and alter neurological activities, aiming to assist therapeutics and treatment. These neurostimulation devices are used to deliver electrical signals intended to stimulate the patient's brain, peripheral nervous system, and spinal cord that helps in treating neurologic disorders. These stimulation techniques are particularly used for treating movement disorders, epilepsy, Parkinson's disease, chronic pain, and depression.

The global neurostimulation device market was valued at USD 55,223 million in 2019 and is expected to grow at a 12.7% CAGR during the forecast period.

Neurostimulation-Device-Market-Updated

Growing Prevalence of Neurological and Lifestyle Disorders Generates a Huge Demand for These Therapeutic Approaches

There is a rising burden of neurological disorders and lifestyle-related disorders across the globe. For instance, according to the American Academy of Neurology, stroke is ranked as the third leading cause of death in the U.S., whereas Alzheimer's disease was ranked as the sixth. Additionally, statistics from the aforementioned source reveal that Parkinson’s disease affects nearly 1 million Americans every year, wherein, a minimum of 60,000 new cases are included. Furthermore, as per the data from the Epilepsy Centre, at present, approximately 50 million patients are living with epilepsy across the globe wherein, around 2.4 million new cases are diagnosed annually.

However, the recognition of the fact that the market products can provide relief and can be used for treatment support for these conditions has generated demand for the market products. Thus, with the increasing number of neurological diseases, the demand for neurostimulation devices is expected to grow further. Thus, the increase in incidences and the rise in the prevalence of neurological disorders are the primary drivers of the market.

Neurostimulation-Device-Market-Growth-Updated

Growing Patient Awareness and Demands Coupled with Preference from Neurologists Boosts the Market

Neurological disorders such as Alzheimer's disease, Parkinson's disease, epilepsy, and cerebrovascular diseases are severe diseases that can affect the central nervous system (CNS) and peripheral nervous system (PNS) of the human body. However, these neurological disorders can be managed through the latest neurostimulation techniques. Thus, the growing awareness amongst patients regarding the same is fueling the global market.

Additionally, these techniques are minimally invasive that promotes greater adoption amongst patients and neurologists. Further, the word experiences a surge in the geriatric population who are more inclined to suffer from neurological disorders, such as epilepsy, Parkinson's disease, Alzheimer's disease, and chronic pain. Thus, factors cumulatively generate a greater demand in the market.

Thus, to meet the growing demand within the global neurostimulation market, there have been increasing investments in R&D coupled with external funding for the development of advanced products and technologies such as implantable neurostimulation devices, which is expected to boost the market growth. Moreover, the rising demand for such therapeutic procedures can also be attributed to shorter hospital stays and faster recovery, which promotes patients' bias, thus expected to offer new growth opportunities for the market.

Global Neurostimulation Device Market: Segmentation

Spinal Cord Stimulators Segment by Products Dominates the Market, in Terms of Revenue Share

Spinal cord stimulators segment dominates the market product segment in terms of revenue, owing to its wide applicability and high market penetration of products. For instance, these simulators are used extensively in treating neuropathic pain and acute spinal cord injuries. For instance, as per the 2019 SCI Data Sheet published by the National SCI Statistical Center (NSCISC):

  • Roughly 17,730 new spinal cord injuries are estimated each year in the U.S.
  • Among these, males account for around 78% of new SCI cases.
  • Further, on a detailed survey, approximately 2,49,000 to 3,63,000 Americans are estimated to be living with SCI.

Technological advancements and widening applications in this segment are expected to fuel the growth further. For instance, usage of Deep Brain Stimulations devices in various diseases such as Parkinson's disease, obsessive-compulsive disorders (OCD), idiopathic dystonia, and essential tremors, has been one such advancement is coupled with the growing number of product approvals. 

Additionally, a surge in minimally invasive procedures and increased healthcare spending in the domain further drives the market growth for spinal cord stimulators across the globe. 

Also, the Sacral nerve stimulators segment is expected to witness the fastest CAGR during the forecast period. These devices are used in the treatment of chronic diseases, including urinary incontinence and fecal incontinence. The segment is witnessing a high growth rate owing to increasing awareness regarding these devices and the rising prevalence of such chronic diseases that demands these market products. 

By Application, Pain Management Segment Led the Global Market in Terms of Revenue Share

By application, the pain management segment is the highest contributor to the neurostimulation devices market in 2019, in terms of revenue generated. The large revenue share of the market segment can be attributed to the increased usage of neurostimulation devices for treating chronic and acute pain. For instance, the segment products are extensively utilized in pain management arising from chronic diabetic neuropathy. For instance, spinal cord stimulators can also be used in non-malignant chronic neuropathic pain management, as they help reduce and mask the pain by producing tiny nerve impulses without any invasive means to making any surgical change to the affected area.

Furthermore, the hearing loss segment is expected to grow at a considerably high CAGR during the forecast period. This is owing to the rise in incidences of hearing loss across the globe. For instance, approximately 48 million people are affected by hearing loss symptoms in America and nearly 360 million people globally, as reported by Hearing Health Foundation in 2020.

Regional Overview

North-America-Lead-Neurostimulation-Device-Market-Growth-Updated

America’s Regional Market Can Be Accounted for the Largest Revenue Share during the Forecast Frame

The American regional market can be accounted for the largest revenue share in 2019 and is further projected to maintain its market dominance during the forecast timeframe. The regional market dominance can be attributed to the growing cases of spinal cord injuries, neurological disorders within the region. For instance, according to Alzheimer's Disease Facts and Figures, released by the Alzheimer's Association, more than 5 million Americans are estimated to be suffering from the disease presently. Further, the growing geriatric population in the region is also anticipated to boost market growth since these people are more inclined to such injuries or neurological disorders.

Additionally, the presence of market players within the regional market, such as Boston Scientific Corporation, Abbott, Nevro Corporation, and others provide a major home-state advantage to the market. This promotes frequent product launches, faster advancements, and region-specific products, and considerable pricing coupled with favorable reimbursement scenarios together fueling the market. Additionally, R&D activities aimed to develop new technologies to manage pain and neurological disorders are expected to increase the treatment options for patients and surgeons in the neurostimulation market. This is expected to positively steer the market.

Asia-Pacific Regional Market Presents Lucrative Opportunity Pockets and Thus, Expected to Witness Growth

Asia-Pacific region offers lucrative opportunities to the major players in the global neurostimulation device market; therefore, it is anticipated to be the fastest-growing market across all regions. The high CAGR is owing to government assistance and private initiatives to increase awareness regarding these market products and their usage coupled with the increasing incidence of neurological disorders.

The region accounts for more than half of the world population thus, presents a massive consumer base for the market players. Further, factors such as improving healthcare infrastructure, rising healthcare reforms, and increasing healthcare expenditures in emerging markets, such as India and China to overcome the unmet medical needs in these regions boost the demand for market products.

Key Players

  • Medtronic Plc (Ireland)
  • Boston Scientific Corporation (U.S.)
  • Abbott (U.S.)
  • LivaNova (U.K.)
  • Synapse Biomedical (U.S.)
  • Nevro Corporation (U.S.)
  • NeuroSigma (U.S.)
  • NeuroPace (U.S.)
  • BioControl Medical (Israel)
  • Integer Holdings Corporation (U.S.)
  • Bioinduction (U.K.)
  • GiMer Medical (Taiwan)
  • GTX Medical (The Netherlands)
  • BlueWind (Israel)

Recent Developments

  • In 2019, NeuroSigma signed a partnership agreement with Teijin Limited (Teijin) (Japan) that granted Teijin Pharmaexclusive rights to market NeuroSigma’s Monarch eTNS system in Japan.

Neurostimulation Device Market: Segmentation

By Product

  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Nerve Stimulators
  • Vagus Nerve Stimulators
  • Gastric Electric Stimulators

By Application

  • Pain Management
  • Epilepsy
  • Essential Tremor
  • Urinary and Fecal Incontinence
  • Hearing Loss
  • Depression
  • Dystonia
  • Parkinson's Disease
  • Others

By Region

  • America
  • Europe
  • Asia-Pacific
  • The Middle East and Africa
  • Central and South America and the Caribbean

Frequently Asked Questions (FAQs)

The global neurostimulation device market was valued at USD 55,223 million in 2019 and is expected to grow at a 12.7% CAGR during the forecast period.

the rising burden of neurological disorders and lifestyle-related disorders, growing patient awareness and demands coupled with preference from neurologists, increasing investments in R&D coupled with external funding are the key factors expected to drive Neurostimulation Device Market during the forecast period.

North America is expected to hold the highest market share in Neurostimulation Device Market.
Medtronic Plc., Cyberonics, Inc., Boston Scientific Corporation, St. Jude Medical, Inc., Nevro Corporation, NeuroSigma Inc., Synapse Biomedical Inc., Cochlear Ltd. are the top players in Neurostimulation Device Market.
In 2019 Global Neurostimulation Device Market was valued at USD 55,223 million.
Spinal Cord Stimulators Segment is expected to be the leading segment in Neurostimulation Device Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.

Neurostimulators are used for neuromodulation, a process where an implantable medical device is used to regulate and alter neurological activities, aiming to assist therapeutics and treatment. These neurostimulation devices are used to deliver electrical signals intended to stimulate the patient's brain, peripheral nervous system, and spinal cord that helps in treating neurologic disorders. These stimulation techniques are particularly used for treating movement disorders, epilepsy, Parkinson's disease, chronic pain, and depression.

The global neurostimulation device market was valued at USD 55,223 million in 2019 and is expected to grow at a 12.7% CAGR during the forecast period.

Neurostimulation-Device-Market-Updated

Growing Prevalence of Neurological and Lifestyle Disorders Generates a Huge Demand for These Therapeutic Approaches

There is a rising burden of neurological disorders and lifestyle-related disorders across the globe. For instance, according to the American Academy of Neurology, stroke is ranked as the third leading cause of death in the U.S., whereas Alzheimer's disease was ranked as the sixth. Additionally, statistics from the aforementioned source reveal that Parkinson’s disease affects nearly 1 million Americans every year, wherein, a minimum of 60,000 new cases are included. Furthermore, as per the data from the Epilepsy Centre, at present, approximately 50 million patients are living with epilepsy across the globe wherein, around 2.4 million new cases are diagnosed annually.

However, the recognition of the fact that the market products can provide relief and can be used for treatment support for these conditions has generated demand for the market products. Thus, with the increasing number of neurological diseases, the demand for neurostimulation devices is expected to grow further. Thus, the increase in incidences and the rise in the prevalence of neurological disorders are the primary drivers of the market.

Neurostimulation-Device-Market-Growth-Updated

Growing Patient Awareness and Demands Coupled with Preference from Neurologists Boosts the Market

Neurological disorders such as Alzheimer's disease, Parkinson's disease, epilepsy, and cerebrovascular diseases are severe diseases that can affect the central nervous system (CNS) and peripheral nervous system (PNS) of the human body. However, these neurological disorders can be managed through the latest neurostimulation techniques. Thus, the growing awareness amongst patients regarding the same is fueling the global market.

Additionally, these techniques are minimally invasive that promotes greater adoption amongst patients and neurologists. Further, the word experiences a surge in the geriatric population who are more inclined to suffer from neurological disorders, such as epilepsy, Parkinson's disease, Alzheimer's disease, and chronic pain. Thus, factors cumulatively generate a greater demand in the market.

Thus, to meet the growing demand within the global neurostimulation market, there have been increasing investments in R&D coupled with external funding for the development of advanced products and technologies such as implantable neurostimulation devices, which is expected to boost the market growth. Moreover, the rising demand for such therapeutic procedures can also be attributed to shorter hospital stays and faster recovery, which promotes patients' bias, thus expected to offer new growth opportunities for the market.

Global Neurostimulation Device Market: Segmentation

Spinal Cord Stimulators Segment by Products Dominates the Market, in Terms of Revenue Share

Spinal cord stimulators segment dominates the market product segment in terms of revenue, owing to its wide applicability and high market penetration of products. For instance, these simulators are used extensively in treating neuropathic pain and acute spinal cord injuries. For instance, as per the 2019 SCI Data Sheet published by the National SCI Statistical Center (NSCISC):

  • Roughly 17,730 new spinal cord injuries are estimated each year in the U.S.
  • Among these, males account for around 78% of new SCI cases.
  • Further, on a detailed survey, approximately 2,49,000 to 3,63,000 Americans are estimated to be living with SCI.

Technological advancements and widening applications in this segment are expected to fuel the growth further. For instance, usage of Deep Brain Stimulations devices in various diseases such as Parkinson's disease, obsessive-compulsive disorders (OCD), idiopathic dystonia, and essential tremors, has been one such advancement is coupled with the growing number of product approvals. 

Additionally, a surge in minimally invasive procedures and increased healthcare spending in the domain further drives the market growth for spinal cord stimulators across the globe. 

Also, the Sacral nerve stimulators segment is expected to witness the fastest CAGR during the forecast period. These devices are used in the treatment of chronic diseases, including urinary incontinence and fecal incontinence. The segment is witnessing a high growth rate owing to increasing awareness regarding these devices and the rising prevalence of such chronic diseases that demands these market products. 

By Application, Pain Management Segment Led the Global Market in Terms of Revenue Share

By application, the pain management segment is the highest contributor to the neurostimulation devices market in 2019, in terms of revenue generated. The large revenue share of the market segment can be attributed to the increased usage of neurostimulation devices for treating chronic and acute pain. For instance, the segment products are extensively utilized in pain management arising from chronic diabetic neuropathy. For instance, spinal cord stimulators can also be used in non-malignant chronic neuropathic pain management, as they help reduce and mask the pain by producing tiny nerve impulses without any invasive means to making any surgical change to the affected area.

Furthermore, the hearing loss segment is expected to grow at a considerably high CAGR during the forecast period. This is owing to the rise in incidences of hearing loss across the globe. For instance, approximately 48 million people are affected by hearing loss symptoms in America and nearly 360 million people globally, as reported by Hearing Health Foundation in 2020.

Regional Overview

North-America-Lead-Neurostimulation-Device-Market-Growth-Updated

America’s Regional Market Can Be Accounted for the Largest Revenue Share during the Forecast Frame

The American regional market can be accounted for the largest revenue share in 2019 and is further projected to maintain its market dominance during the forecast timeframe. The regional market dominance can be attributed to the growing cases of spinal cord injuries, neurological disorders within the region. For instance, according to Alzheimer's Disease Facts and Figures, released by the Alzheimer's Association, more than 5 million Americans are estimated to be suffering from the disease presently. Further, the growing geriatric population in the region is also anticipated to boost market growth since these people are more inclined to such injuries or neurological disorders.

Additionally, the presence of market players within the regional market, such as Boston Scientific Corporation, Abbott, Nevro Corporation, and others provide a major home-state advantage to the market. This promotes frequent product launches, faster advancements, and region-specific products, and considerable pricing coupled with favorable reimbursement scenarios together fueling the market. Additionally, R&D activities aimed to develop new technologies to manage pain and neurological disorders are expected to increase the treatment options for patients and surgeons in the neurostimulation market. This is expected to positively steer the market.

Asia-Pacific Regional Market Presents Lucrative Opportunity Pockets and Thus, Expected to Witness Growth

Asia-Pacific region offers lucrative opportunities to the major players in the global neurostimulation device market; therefore, it is anticipated to be the fastest-growing market across all regions. The high CAGR is owing to government assistance and private initiatives to increase awareness regarding these market products and their usage coupled with the increasing incidence of neurological disorders.

The region accounts for more than half of the world population thus, presents a massive consumer base for the market players. Further, factors such as improving healthcare infrastructure, rising healthcare reforms, and increasing healthcare expenditures in emerging markets, such as India and China to overcome the unmet medical needs in these regions boost the demand for market products.

Key Players

  • Medtronic Plc (Ireland)
  • Boston Scientific Corporation (U.S.)
  • Abbott (U.S.)
  • LivaNova (U.K.)
  • Synapse Biomedical (U.S.)
  • Nevro Corporation (U.S.)
  • NeuroSigma (U.S.)
  • NeuroPace (U.S.)
  • BioControl Medical (Israel)
  • Integer Holdings Corporation (U.S.)
  • Bioinduction (U.K.)
  • GiMer Medical (Taiwan)
  • GTX Medical (The Netherlands)
  • BlueWind (Israel)

Recent Developments

  • In 2019, NeuroSigma signed a partnership agreement with Teijin Limited (Teijin) (Japan) that granted Teijin Pharmaexclusive rights to market NeuroSigma’s Monarch eTNS system in Japan.

Neurostimulation Device Market: Segmentation

By Product

  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Sacral Nerve Stimulators
  • Vagus Nerve Stimulators
  • Gastric Electric Stimulators

By Application

  • Pain Management
  • Epilepsy
  • Essential Tremor
  • Urinary and Fecal Incontinence
  • Hearing Loss
  • Depression
  • Dystonia
  • Parkinson's Disease
  • Others

By Region

  • America
  • Europe
  • Asia-Pacific
  • The Middle East and Africa
  • Central and South America and the Caribbean

Frequently Asked Questions (FAQs)

The global neurostimulation device market was valued at USD 55,223 million in 2019 and is expected to grow at a 12.7% CAGR during the forecast period.

the rising burden of neurological disorders and lifestyle-related disorders, growing patient awareness and demands coupled with preference from neurologists, increasing investments in R&D coupled with external funding are the key factors expected to drive Neurostimulation Device Market during the forecast period.

North America is expected to hold the highest market share in Neurostimulation Device Market.
Medtronic Plc., Cyberonics, Inc., Boston Scientific Corporation, St. Jude Medical, Inc., Nevro Corporation, NeuroSigma Inc., Synapse Biomedical Inc., Cochlear Ltd. are the top players in Neurostimulation Device Market.
In 2019 Global Neurostimulation Device Market was valued at USD 55,223 million.
Spinal Cord Stimulators Segment is expected to be the leading segment in Neurostimulation Device Market during the forecast period.
Call us, email us, or chat with us! We encourage your questions and feedback. We have a research concierge team available at all times and included in every purchase.
We will send you an email with login credentials to access the report. You will also be able to download the pdf.
Basically, choose Pay by Purchase Order when you are checking out. We will connect with you via email to set up your order.