Global Neurostimulation Devices Market Size to Reach USD 16.97 Billion in 2032
Ngày đăng: 25-10-2023 |
Ngày cập nhật: 25-10-2023
The global neurostimulation devices market size was USD 5.65 Billion in 2022 and is expected to register a revenue CAGR of 13% over the forecast period, according to the latest report by Reports and Data.
Neurostimulation apparatus are used to treat a variety of neurological diseases, including Parkinson's disease, epilepsy, depression, and chronic pain. The neurostimulation devices market revenue is increasing as the prevalence of neurological disorders such as Alzheimer's disease, migraines, and chronic pain rises.
According to the World Health Organization, around 1 billion people worldwide suffer from neurological diseases such as epilepsy, Alzheimer's disease, multiple sclerosis, and Parkinson's disease. The rising frequency of neurological disorders is predicted to fuel demand for neurostimulation devices, resulting in market revenue growth.
The aging population is another key factor driving market revenue growth. As the world's population ages, the frequency of neurological disorders such as Parkinson's disease and Alzheimer's disease is predicted to climb. This is predicted to increase demand for neurostimulation devices because it is an effective therapy for many ailments. In addition, the quest for minimally invasive procedures is propelling market revenue development. Minimally invasive surgeries provide various advantages over traditional open operations, including less discomfort, fewer scars, and faster recovery times. Neurostimulation equipment is often used to treat neurological illnesses and chronic pain in minimally invasive treatments.
Additionally, the market revenue is increasing as a consequence of technological advances in neurostimulation devices. For example, rechargeable battery technology has enhanced battery life and reduced the need for battery replacements, making neurostimulation devices more practical and inexpensive. Furthermore, the use of wireless technology in neurostimulation devices has boosted patient comfort and compliance.
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Some of the prominent players profiled in the global neurostimulation devices market include Abbott Laboratories, Medtronic, Inc., Boston Scientific Corporation, LivaNova PLC, Nevro Corporation, Neuronetics, Inc., St. Jude Medical, Inc., Synapse Biomedical Inc., Cyberonics, Inc., and NeuroMetrix, Inc.
Some Key Highlights from the Report
For the purpose of this report, Reports and Data has segmented the global neurostimulation devices market on the basis of Product Type Outlook, Application Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 - 2032)
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Neurostimulation apparatus are used to treat a variety of neurological diseases, including Parkinson's disease, epilepsy, depression, and chronic pain. The neurostimulation devices market revenue is increasing as the prevalence of neurological disorders such as Alzheimer's disease, migraines, and chronic pain rises.
According to the World Health Organization, around 1 billion people worldwide suffer from neurological diseases such as epilepsy, Alzheimer's disease, multiple sclerosis, and Parkinson's disease. The rising frequency of neurological disorders is predicted to fuel demand for neurostimulation devices, resulting in market revenue growth.
The aging population is another key factor driving market revenue growth. As the world's population ages, the frequency of neurological disorders such as Parkinson's disease and Alzheimer's disease is predicted to climb. This is predicted to increase demand for neurostimulation devices because it is an effective therapy for many ailments. In addition, the quest for minimally invasive procedures is propelling market revenue development. Minimally invasive surgeries provide various advantages over traditional open operations, including less discomfort, fewer scars, and faster recovery times. Neurostimulation equipment is often used to treat neurological illnesses and chronic pain in minimally invasive treatments.
Additionally, the market revenue is increasing as a consequence of technological advances in neurostimulation devices. For example, rechargeable battery technology has enhanced battery life and reduced the need for battery replacements, making neurostimulation devices more practical and inexpensive. Furthermore, the use of wireless technology in neurostimulation devices has boosted patient comfort and compliance.
Get a sample of the report @ https://www.reportsanddata.com/download-free-sample/2303
Some of the prominent players profiled in the global neurostimulation devices market include Abbott Laboratories, Medtronic, Inc., Boston Scientific Corporation, LivaNova PLC, Nevro Corporation, Neuronetics, Inc., St. Jude Medical, Inc., Synapse Biomedical Inc., Cyberonics, Inc., and NeuroMetrix, Inc.
Some Key Highlights from the Report
- The spinal cord stimulation segment is predicted to generate the most revenue during the projected period. Spinal cord stimulation devices aid in the treatment of chronic pain conditions by sending electrical impulses to the spinal cord. These devices are commonly used to treat chronic neuropathic pain, failed back surgery syndrome, and complex regional pain syndrome. This segment's revenue growth is being driven by the increased incidence of chronic pain disorders and the increasing demand for non-invasive treatment solutions.
- The chronic pain management segment is projected to hold the largest share of revenue during the forecast period, primarily due to the widespread use of neurostimulation devices for treating chronic pain. Chronic pain affects millions of individuals worldwide and can pose challenges when traditional medications are insufficient. Neurostimulation devices have emerged as a promising option for chronic pain sufferers, providing long-lasting pain relief and reducing the reliance on opioid medications. The increasing elderly population and the growing prevalence of chronic pain conditions are anticipated to drive the demand for neurostimulation devices in this segment.
- North America is predicted to have the highest revenue share over the projection period. The adoption of cutting-edge technology and generous reimbursement policies, as well as the presence of a substantial patient pool suffering from neurological disorders such as Parkinson's disease and chronic pain, are some of the primary drivers driving market revenue growth in this area. Furthermore, the region's aging population and incidence of neurological disorders are driving up demand for neurostimulation devices. In addition, the area is experiencing a surge in R&D spending for the development of innovative neurostimulation devices with increased functionality.
- The Asia Pacific market is predicted to have the fastest-increasing revenue rate during the projection period. The increased prevalence of neurological disorders and the rising need for effective treatment options in emerging nations such as China and India are expected to generate significant expansion in the Asia Pacific market in the coming years. Some of the primary variables impacting revenue growth in this region include the availability of low-cost neurostimulation devices and favorable government measures to assist the development of healthcare infrastructure.
- Medtronic announced the purchase of Nalu Medical, a medical device firm focusing in developing neuromodulation therapy for chronic pain, on February 1, 2022. This purchase will expand Medtronic's neurostimulation portfolio and allow the business to provide a greater choice of therapies to chronic pain sufferers.
- Abbott Laboratories announced the release of their new InfinityTM Deep Brain Stimulation (DBS) equipment on December 10, 2021. The technology is intended to assist patients with Parkinson's disease and essential tremor, among other neurological illnesses, with precision targeting and tailored therapy.
For the purpose of this report, Reports and Data has segmented the global neurostimulation devices market on the basis of Product Type Outlook, Application Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 - 2032)
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Others
- Chronic Pain Management
- Parkinson’s Disease
- Epilepsy
- Depression
- Others
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
Explore Trending Report:
About Us:
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyse consumer behaviour shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.
Contact Us:
John W
(Head of Business Development)
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Blogs | Press Release | Industry News | Our competencies
Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports
Browse More Latest Reports @ https://www.reportsanddata.com/report
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