NEW YORK, July 31, 2024 /PRNewswire/ -- The
global neurostimulation devices market size is estimated to
grow by USD 6.26 billion from
2023-2027, according to Technavio. The market is estimated to
grow at a CAGR of about 12.19% during the forecast period. Rising
prevalence of neurological disorders is driving market growth, with
a trend towards expanding indications of neurostimulation
devices. However, high cost of neurostimulation devices and
procedures poses a challenge. Key market players include Abbott
Laboratories, ALEVA NEUROTHERAPEUTICS SA, Axonics Inc., Bayer
AG, Bioinduction Ltd, Boston Scientific Corp., electroCore Inc.,
EndoStim Inc, Integer Holdings Corp., LABORIE MEDICAL TECHNOLOGIES
CORP., LivaNova Plc, Medtronic Plc, NeuroMetrix Inc., NEURONETICS
Inc., NeuroPace Inc., Nevro Corp., Parasym, Perflow Medical Ltd.,
Soterix Medical Inc., and Synapse Biomedical Inc..
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Application (Pain
management, Urinary and fecal incontinence, Parkinsons disease,
Epilepsy, and Others), Product (Implantable neurostimulation
devices and External neurostimulation devices), and Geography
(North America, Europe, Asia, and Rest of World (ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
Abbott Laboratories,
ALEVA NEUROTHERAPEUTICS SA, Axonics Inc., Bayer AG, Bioinduction
Ltd, Boston Scientific Corp., electroCore Inc., EndoStim Inc,
Integer Holdings Corp., LABORIE MEDICAL TECHNOLOGIES CORP.,
LivaNova Plc, Medtronic Plc, NeuroMetrix Inc., NEURONETICS Inc.,
NeuroPace Inc., Nevro Corp., Parasym, Perflow Medical Ltd., Soterix
Medical Inc., and Synapse Biomedical Inc.
|
Key Market Trends Fueling Growth
Neurostimulation devices have gained significant attention in
the medical community due to their effectiveness in treating
various conditions that have been historically challenging to
manage with traditional therapies. Neuropathic pain conditions,
such as Complex Regional Pain Syndrome (CRPS) and other neuropathic
pain disorders, have limited treatment options, with medication,
opioids, and surgery often failing to provide adequate pain relief.
Abbott's Proclaim DRG Neurostimulator System has shown promising
results in delivering sustained and superior pain relief compared
to traditional neurostimulation systems for patients with CRPS and
other neuropathic pain conditions. Spinal Cord Stimulation (SCS)
therapy, another neurostimulation technique, has been proven to
reduce or stabilize opioid usage in chronic pain patients.
Endoscopy-based Temporary Gastric Electrical Stimulation (GES) has
demonstrated improvements in total symptom scores for both
non-delayed and delayed gastric emptying patients. This therapy may
also be beneficial for patients with nausea and vomiting who are
intolerant to medical treatment despite having non-delayed gastric
emptying. Peripheral Nerve Stimulation (PNS) therapy is an emerging
approach for treating chronic headaches and post-amputation phantom
limb pain. The increasing acceptance and regulatory approvals of
new indications for neurostimulation devices will fuel the growth
of the global neurostimulation devices market during the forecast
period.
Neurostimulation devices, a type of implantable medical device,
are gaining popularity in the healthcare industry for treating
various chronic conditions. These devices use neuromodulation, or
the electrical stimulation of nerves, to manage chronic pain,
essential tremors, dystonia, gastroparesis, and other conditions
like musculoskeletal disorders, osteoarthritis, rheumatoid
arthritis, and orthopedic degenerative disorders. Invasive
procedures, such as Deep Brain Stimulation (DBS) for Parkinson's
Disease (PD) and Neurostimulators for Alzheimer's, Stroke, and
neurological diseases, are increasingly being used. Non-invasive
options like Transcutaneous Electrical Nerve Stimulation (TENS) are
also common for pain management. Specific neurostimulation devices
include Deep Brain Stimulators for PD, Gastric Electric Stimulators
for gastroparesis, Spinal Cord Stimulators for chronic pain, Sacral
Nerve Stimulators for urinary incontinence, and Vagus Nerve
Stimulators for epilepsy and migraine. Unhealthy lifestyle choices
contribute to the rise in chronic diseases, making neurostimulation
devices essential tools for improving quality of life. Companies
like Neuspera Medical are leading the way in neurostimulation
technology for conditions like essential tremors.
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Market Challenges
- Neurostimulation devices, including Transcutaneous Electrical
Nerve Stimulation (TENS), Spinal Cord Stimulation (SCS), Deep Brain
Stimulation (DBS), Vagus Nerve Stimulation (VNS), and Transcranial
Magnetic Stimulation (TMS), offer significant therapeutic benefits
for various medical conditions. However, their high cost is a
significant barrier to adoption, particularly in developing
countries. The initial implantation cost for pulse generators
ranges from USD20,000 to over
USD100,000, depending on the type of
neurostimulation therapy and the number of electrodes. Additional
costs for post-operative device adjustments, battery replacement,
and maintenance add to the overall expense. Vendors price their
neurostimulation devices high due to regulatory approval processes
and patent protection, limiting competition and importation.
Insurance coverage for novel neurostimulation therapies is also
limited, restricting patient access and market growth. For
instance, Medicare no longer covers TENS for lower back pain, and
many private insurers do not provide reimbursement for TMS or
off-label indications for DBS and VNS. The lack of transparency in
pricing and insufficient clinical effectiveness data further
reduces the bargaining power of buyers and affects the ability to
assess the relative value of these devices.
- Neurostimulation devices, including implantable medical devices
like neurostimulators, are transforming neuromodulation for various
neurological and chronic diseases. Neurostimulation treats
conditions such as PD, DBS for Parkinson's and Alzheimer's, stroke,
migraine, epilepsy, pain management, essential tremors, depression,
spinal cord injuries, and neurological disorders. Companies like
Neuspera Medical innovate in this field, focusing on PD and bladder
disorders. Challenges include reimbursement, healthcare provider
acceptance, and competition with drug therapies and surgical
treatments. Neurostimulation targets overactive bladder syndrome,
Alzheimer's, and Parkinson's, among others. Emerging countries
present opportunities, but regulatory approval processes are
complex. Technologies include internal (implantable) and external
neuromodulation, such as gastric electrical, transcutaneous
electrical nerve stimulation, transcranial magnetic stimulation,
and respiratory electrical stimulation. Neurotech devices offer
alternatives to surgical procedures for elderly populations with
neurovascular diseases and nerve injuries.
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Segment Overview
This neurostimulation devices market report extensively covers
market segmentation by
- Application
- 1.1 Pain management
- 1.2 Urinary and fecal incontinence
- 1.3 Parkinsons disease
- 1.4 Epilepsy
- 1.5 Others
- Product
- 2.1 Implantable neurostimulation devices
- 2.2 External neurostimulation devices
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Pain management- The neurostimulation devices
market experienced significant growth in the pain management
segment in 2022, driven by the increasing demand for these devices
in managing neuropathic pain. Neurostimulation therapy provides
pain relief by interrupting pain signals between the spinal cord
and the brain. With over 700 million people aged 65 or older
globally in 2020, according to the United Nations Digital Library
System, and this population group expected to double by 2050, the
market is poised for substantial expansion due to the high
prevalence of chronic diseases among the elderly.
For more information on market segmentation with geographical
analysis including forecast (2023-2027) and historic data (2017 -
2021) - Download a Sample Report
Research Analysis
Neurostimulation devices are implantable medical devices used
for neuromodulation, a therapy that involves delivering electrical
impulses to specific nerves or areas of the brain to alleviate
various medical conditions. Neurostimulation includes
Neurostimulators such as Deep Brain Stimulation (DBS) for
Parkinson's Disease (PD), Gastric Electric Stimulators for
gastrointestinal disorders, Spinal Cord Stimulators for chronic
pain, Sacral Nerve Stimulators for urinary incontinence, Vagus
Nerve Stimulators for epilepsy and depression, and Transcutaneous
Electrical Nerve Stimulation (TENS) for pain management.
Neurostimulation is increasingly being preferred over traditional
drug therapies and surgical treatments for neurological diseases
like Alzheimer's, Stroke, Neurological Disorders, and Nerve
Injuries. Reimbursement policies and healthcare providers'
acceptance are crucial factors influencing the market growth.
Emerging countries are expected to offer significant growth
opportunities due to increasing awareness and affordability.
Neurostimulation devices have shown promising results in treating
Overactive Bladder Syndrome and other chronic conditions. Invasive
procedures are being replaced by less invasive techniques to
improve patient comfort and reduce risks.
Market Research Overview
Neurostimulation devices are implantable medical devices used
for neuromodulation, a therapy that involves delivering electrical
pulses to the nervous system to alleviate various neurological and
chronic conditions. Neurostimulation includes Deep Brain
Stimulation (DBS) for Parkinson's and essential tremors, DBS for
Alzheimer's and depression, Spinal Cord Stimulation (SCS) for
chronic pain, Sacral Nerve Stimulation (SNS) for overactive bladder
syndrome, and Vagus Nerve Stimulation (VNS) for seizures and
depression. Neurostimulation devices also include Transcutaneous
Electrical Nerve Stimulation (TENS) for pain management, Gastric
Electrical Stimulation (GES) for gastroparesis, and Transcranial
Magnetic Stimulation (TMS) for depression and migraine.
Neurostimulation devices are used to treat neurological disorders,
nerve injuries, and neurological diseases such as Alzheimer's,
stroke, epilepsy, and Parkinson's. Reimbursement for these devices
varies among healthcare providers and countries. The regulatory
approval process for neurostimulation devices is rigorous to ensure
safety and efficacy. Neurostimulation devices are also used in
emerging countries to address the growing burden of chronic
diseases and neurological disorders in the elderly population base.
Neurovascular devices, neurovascular embolization, and surgical
procedures are also used in conjunction with neurostimulation
devices for the treatment of neurological conditions. Traditional
procedures like drug therapies and surgical treatments continue to
be used in conjunction with neurostimulation devices to provide
comprehensive care for patients. Neurotech devices are continuously
evolving to improve patient outcomes and quality of life.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Pain Management
- Urinary And Fecal Incontinence
- Parkinsons Disease
- Epilepsy
- Others
- Product
-
- Implantable Neurostimulation Devices
- External Neurostimulation Devices
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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