Neurostimulation Market Report: Growing CAGR of 9.3% during the forecast period (2024-2030) - published by MarketDigits

According to a research report "Neurostimulation Market”, By Type (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, and Others), Application (Pain Management, Hearing Loss, Urinary Incontinence, Parkinson's Disease, Epilepsy, and Others) & Region - Global Forecast to 2030.

Neurostimulation Market Scope:

• Market size value in 2023 - USD 5,292.5 Million
• Market size value in 2030 - USD 9,996.8 Million
• CAGR (2023-2030) - 9.3%
• Forecast Period - 2023-2030
• Historic Data - 2019
• Segments Covered - Type, Application & Region
• Geographies Covered - North America, Europe, Asia Pacific, and RoW
• Sample of Companies Covered - NeuroPace, Inc., Saluda Medical Pty Limited, SceneRay Co., Ltd., Soterix Medical Inc., Synapse Biomedical Inc. 

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Browse in-depth TOC on "Neurostimulation Market" 

• 144 - Tables
• 99 - Figures
• 362 - Pages

Market Overview: The Neurostimulation Market is witnessing a dynamic growth propelled by advancements in medical technology and the growing prevalence of neurological disorders. Neurostimulation entails the utilization of implantable devices to modulate neural activity, providing therapeutic solutions for conditions like chronic pain, Parkinson's disease, epilepsy, and depression. A key driver of market dynamics is the escalating awareness and acceptance of neurostimulation therapies as effective alternatives to traditional pharmacological interventions. Patients and healthcare professionals increasingly acknowledge the benefits of neurostimulation in managing chronic conditions, resulting in a rising demand for these innovative treatments.

Market Dynamics

Drivers:

• Increasing prevalence of neurological disorders and nerve injuries
• Increasing acceptance of neuromodulation devices for pain management, central nervous system, and urology disorders
• Remote neuro-stimulation devices is a key innovation area in wearable technology
• Neurostimulation as a promising epilepsy therapy

Opportunities:

• Emerging technologies for non-invasive neurostimulation promising applications in biomedical systems
• Developing minimally invasive neurostimulation devices

North America dominates the market for neurostimulation

The North American market held a significant share in the global neurostimulation devices market. Key trends driving this dominance include the development of innovative neurostimulators, health authority approvals for novel techniques and strategic mergers & acquisitions to gain access to cutting-edge technologies. The region's market is propelled by factors such as the rising prevalence of neurological disorders, a growing geriatric population, favorable reimbursement rates, and the introduction of advanced technologies.

The Asia Pacific (APAC) neurostimulation market is projected to experience the highest rate of revenue growth in the forecast period, driven by various factors. The prevalence of chronic conditions such as chronic pain, movement disorders, and psychiatric disorders is on the rise in the APAC region due to factors like aging populations, urbanization, and lifestyle changes. This surge in chronic conditions is creating a demand for new and effective treatment options, with neurostimulation emerging as a notable choice. The awareness of neurostimulation as a viable treatment option is increasing in the APAC region, thanks to technological advancements, a growing body of scientific evidence, and the presence of patient advocacy groups. Consequently, more patients in the region are seeking neurostimulation treatment.

Neurostimulation market in Middle East and Africa is expected to grow rapidly in the coming years. The growing prevalence of chronic conditions, increasing awareness of neurostimulation, increasing investments from governments and private companies, and the growing adoption of minimally invasive procedures are all expected to contribute to the market growth. However, lack of skilled professionals and high cost of neurostimulation devices is expected to hinder the Neurostimulation market in Middle East & Africa.

Top Key Players covered in Neurostimulation Market -

• Abbott
• Axonics Modulation Technologies
• Boston Scientific Corporation
• Brainsway Ltd.
• Mainstay Medical
• Medtronic
• NeuroMetrix, Inc.
• Neuronetics, Inc.
• NeuroPace, Inc.
• Saluda Medical Pty Limited
• SceneRay Co., Ltd.
• Soterix Medical Inc.
• Synapse Biomedical Inc.

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Segmentations Analysis of Neurostimulation Market: -

• By Type
• By Application
• By Region

https://www.globenewswire.com/news-release/2024/03/05/2840452/0/en/Neuromodulation-Market-projected-to-reach-USD-15-3-Billion-by-2030-growing-at-a-CAGR-of-13-0-during-the-forecast-period-of-2023-2030-pronounced-by-MarketDigits-in-its-recent-study.html

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