Press Release   -

Neurostimulation Devices Market to Reach Valuation of USD 8.7 Billion By 2028 – Increasing Healthcare Expenditures in The Emerging Markets Drives the Market

In terms of revenue, the Global Neurostimulation Devices Market is expected to reach USD 8.7 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.5% from 2022 to 2028.

The components of a neurostimulation device include a neurostimulator, which produces the electrical impulses, leads, which are made up of insulated medical wires and deliver the electrical pulses, and a patient's portable device. The optimal calibration of every component results in a successful patient response to the neuro disease in terms of wellbeing.

The market for Neurostimulation Devices Market is expanding due to factors such as increased clinical trials for these devices, the prevalence of neurological illnesses worldwide, and corporate investments. In addition, the industry is growing due to technological developments such as wireless energy transmission and silicon microfabrication.

Key Highlights from Report:

• The Hospital's segment dominates the market share during the forecast period. The segment's growth is attributed to increasing preference and awareness among manufacturers' consumers to increase their products' self-life. Moreover, the rise in the efficiency of reverse logistics operation of recycled products, decrease in landfill sites, and eco-friendly legislations for the government are driving the Neurostimulation Devices Market growth during the forecast period.
• The Spinal Cord Stimulators segment is anticipated to grow at the highest rate during the forecast period because of the broad range of product applications. The commercially available items in this category have a high market penetration. This market's technological development is anticipated to fuel its growth. Spinal cord stimulators treat non-malignant chronic neuropathic pain because they assist in numbing the discomfort by generating minute nerve impulses without altering the target area's anatomy.
• The Asia Pacific region is accounted for a significant portion of the global market for Neurostimulation Devices Market. Significant market trends in the Asia Pacific include the development of novel neurostimulators, approval by health authorities for novel procedures in neurostimulators, and mergers & acquisitions to acquire unique technologies & products.

Market Dynamics:

The global market for Neurostimulation Devices Market is predicted to expand by double digits throughout the forecast period. Neurostimulation equipment is utilized more frequently to treat various medical disorders, including stroke and depression. Healthcare companies are developing small external controllers that can monitor abnormal brain activity due to the rise in the prevalence of neurological illnesses, the aging population, advantageous reimbursement rates, and the development of cutting-edge technology. On the other hand, research into using neurostimulators for treating conditions like obsessive-compulsive disorders, interstitial cystitis, and asthma is still ongoing. It is anticipated that this will open lucrative opportunities for the market for Neurostimulation Devices Market to expand in the years to come.

North America is estimated to hold a significant share in the market in 2021. Significant market trends in North America include the development of novel neurostimulators, approval by health authorities for novel procedures in neurostimulators, and mergers & acquisitions to acquire unique technologies & products. The market in this region is anticipated to be driven by an increase in the frequency of neurological illnesses, growth in the elderly population, advantageous reimbursement rates, and the introduction of cutting-edge technologies.

The Global Neurostimulation Devices Market is Segmented as follows:

• Product Type
  • Spinal Cord Stimulators
  • Deep Brain Stimulators
  • Cochlear Implants
  • Vagus Nerve Stimulators
  • Sacral Nerve Stimulators
  • Percutaneous Tibial Nerve Stimulators
  • Transcranial Magnetic Stimulators
• Application
  • Chronic Pain
  • Movement Disorders
  • Hearing Impairment
  • Epilepsy
  • Urinary Incontinence
  • Other Applications
• End Users
  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

A list of the Key Players of the Global Neurostimulation Devices Market is:

[object Object]

The Global Neurostimulation Devices Market Scope can be Tabulated as below:

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.