Neurostimulation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Neurostimulation Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • August 2021 •
  • 144 pages •
  • Report ID: 5878834 •
  • Format: PDF
The global neurostimulation devices market reached a value of US$ 6.3 Billion in 2020. Looking forward, the analyst expects the market to grow at a CAGR of 11.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A neurostimulation device is a programmable medical transmitter that can deliver electrical signals to the specific parts of the human brain. It is also used to stimulate, inhibit, modify, regulate and alter the activity of the autonomous, central and peripheral nervous systems in the patient’s body. This primarily aids in the treatment of various medical ailments, such as movement disorders, chronic pain and epilepsy. It is also utilized in the operation of neural prosthetics, hearing aids, artificial vision, artificial limbs and brain-machine interfaces. Neurostimulation devices can be both implantable or externally placed.

The rising instances of neurological and lifestyle-related disorders, along with the rapidly growing geriatric population across the globe, are among the key factors driving the growth of the market. Furthermore, the increasing preference for minimally invasive (MI) procedures among patients is also providing a boost to the market growth. For instance, deep brain stimulation (DBS) is an MI procedure that uses neurostimulation devices to deliver electrical signals to a specific spot in the brain circuits. This aids in treating various degenerative disorders, such as Parkinson’s and Alzheimer’s disease. Additionally, technological advancements, including the development of devices that can electronically stimulate the nervous system to restore vision and regain post-paralysis motor movements, are creating a positive outlook for the market. Other factors, including significant growth in the medical industry, increasing healthcare expenditure and extensive research and development (R&D) activities, are projected to drive the market in the upcoming years.

Breakup by Stimulation Type:
Internal Stimulation
External Stimulation

Breakup by Device Type:
SCS (Spinal Cord Stimulation) Devices
DBS (Deep Brain Stimulation) Devices
SNS (Sacral Nerve Stimulation) Devices
VNS (Vagus Nerve Stimulation) Devices
GES (Gastric Electrical Stimulation) Devices
Transcutaneous Electrical Nerve Stimulation Devices
Transcranial Magnetic Stimulation Devices

Breakup by Application:
Pain Management
Essential Tremors
Urinary and Fecal Incontinence
Parkinson’s Disease

Breakup by End-User:
Rehabilitation Centers
Medical Clinics

Breakup by Region:
North America
United States
United Kingdom
Asia Pacific
South Korea
Latin America
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Biocontrol Medical, Boston Scientific Corporation, Cyberonics Inc., Medtronic Inc., Neuronetics Inc., Neuropace Inc., Neurosigma Inc., Nevro Corporation, ST. Jude Medical Inc., Synapse Biomedical Inc., etc. Key Questions Answered in This Report:

How has the global neurostimulation devices market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global neurostimulation devices market?
What is the breakup of the market based on the stimulation type?
What is the breakup of the market based on the device type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global neurostimulation devices market and who are the key players?
What is the degree of competition in the market?