Neurostimulation Devices Market Size, Share, Growth Analysis, By Type(Implantable Devices and Non-Implantable Devices), By Application(Pain Management and Parkinson's Disease), By Region(North America, Europe, Asia Pacific, Middle East and Africa), By Region - Industry Forecast 2025-2032


Report ID: SQMIG35B2087 | Region: Global | Published Date: August, 2024
Pages: 219 |Tables: 88 |Figures: 76

Neurostimulation Devices Market Insights

Neurostimulation Devices Market size was valued at USD 5.98 Billion in 2023 and is poised to grow from USD 6.75 Billion in 2024 to USD 17.68 Billion by 2032, growing at a CAGR of 12.80% during the forecast period (2025-2032).

Surging cases of neurological disorders and growing investments in neurological research around the world are projected to bolster neurostimulation devices market growth. Growing awareness regarding neurological diseases and growing demand for the treatment of the same are also creating new opportunities for neurostimulation device providers. Advancements in neurostimulation technologies based on extensive research are also expected to uplift the sales of neurostimulation devices in the future. A high preference for minimally invasive surgical procedures is also expected to favor the demand for neurostimulation devices in the long run. The growing availability of favorable reimbursement for neurostimulation procedures and rising awareness regarding the benefits of the same are also expected to create a new business scope for neurostimulation devices market players in the future. On the contrary, the risk of complications and device failure, the high costs of advanced neurostimulation devices, and the dearth of skilled professionals are all expected to slow down neurostimulation devices market growth potential across the forecast period and beyond. 

Market snapshot - 2025-2032

Global Market Size

USD 5.98 Billion

Largest Segment

Pain Management

Fastest Growth

Parkinson's Disease

Growth Rate

12.80% CAGR

Global Neurostimulation Devices Market ($ Bn)
Country Share for North America Region (%)

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Neurostimulation Devices Market Segmental Analysis

The Global Neurostimulation Devices market is segmented by type, Application, and region. Based on type, the market can be segmented into Internal Neuromosulation (Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Electric Stimulator) External neuromodulation (Transcutaneous Electrical Nerve Stimulation (TENS), Transcranial Magnetic Stimulation (TMS), Respiratory Electrical Stimulation (RES)). Based on Application, the market is segmented into Spinal Cord Stimulation (Failed Back Syndrome, Chronic Pain, Ischemia), Deep Brain Stimulation (Parkinson's Disease, Tremor, Depression, Others), Sacral Nerve Stimulation (Urine Incontinence, Fecal Incontinence), Vagus Nerve Stimulation (VNS) (Epilepsy, Others), Gastric Electrical Stimulation (Gastroparesis, Obesity), Transcutaneous Electrical Nerve Stimulation (Treatment-resistant Depression, Others), Transcranial Magnetic Stimulation (Depression, Migraine Headache), Respiratory Electrical Stimulation (Spinal Cord Injury). Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. 

Neurostimulation Devices Market Analysis by Product 

Spinal cord stimulators are projected to bring in the most revenue for all neurostimulation device companies going forward. The increasing incidence of spinal cord injuries due to rising accidents and trauma cases around the world is helping this segment maintain its dominance.  availability of different types of spinal cord stimulators around the world is also expected to contribute to the high market share.  The high use of spinal cord stimulators for non-malignant chronic neuropathic pain management is also expected to create new opportunities for neurostimulation devices market players via this segment in the future.  

Meanwhile, the demand for sacral nerve stimulator devices is estimated to increase at an impressive pace across the study period and beyond. Rising issues of fecal and urinary incontinence among people due to neurological disorders are helping boost the sales of sacral nerve stimulators. Rapidly increasing geriatric population is a key factor helping this segment’s growth as incidence of urinary and fecal incontinence is quite high in this population group. Growing awareness regarding benefits of sacral nerve stimulator devices around the world is also expected to create new opportunities for neurostimulation devices companies in the long run via this segment.  

Neurostimulation Devices Market Analysis by Application 

Pain management leads the global neurostimulation devices demand outlook and holds a substantial chunk of the global market share. The high incidence of chronic diseases has led to a high demand for better chronic pain management solutions around the world, thereby promoting the use of neurostimulation devices for the same. Growing acceptance of neuro therapies for pain management will also help this segment maintain its dominant stance in the future. Surging incidence of disease indications such as arthritis and cancer will also create new opportunities for neurostimulation devices companies operating in the pain management application segment going forward. 

On the other hand, the demand for neurostimulation devices for Parkinson’s disease applications is projected to increase at an impressive pace in the future. Growing incidence of Parkinson’s disease, rising awareness regarding the symptoms of this disease, and availability of limited treatment options are some key factors that make neurostimulation devices an important element in Parkinson’s disease management and treatment. Growing senescent population will also play a crucial role in promoting the demand for neurostimulation devices in this segment over the coming years. 

Global Neurostimulation Devices Market By Application

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Neurostimulation Devices Market Regional Insights

North America secures the top spot when it comes to global neurostimulation device demand. The presence of a developed healthcare infrastructure, high healthcare spending potential, and availability of favorable reimbursement for neurological procedures are helping this region maintain a high market share. The increasing geriatric population and high investments in neurological research are also expected to create new opportunities for suppliers of neurostimulation devices in this region. The United States and Canada are slated to be the top markets in North America for neurostimulation device providers going forward. Moreover, the presence of key medical device manufacturers in this region will also aid the dominance of North America going forward.

Asia-Pacific is expected to emerge as the fastest-expanding regional market for neurostimulation device companies in the world. Growing healthcare expenditure, rising awareness regarding neurological disorders, and a rapidly expanding senescent population base in countries such as Japan and China are providing lucrative opportunities for neurostimulation device companies in this region. Rising disposable income of people and their willingness to opt for novel treatments and therapies will also play a crucial role in promoting sales of neurostimulation devices in the Asia Pacific region. India is also expected to be a highly opportune market for neurostimulation device providers going forward.

Global Neurostimulation Devices Market By Region
  • Largest
  • Fastest

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Neurostimulation Devices Market Dynamics

Neurostimulation Devices Market Drivers

Rising Incidence of Neurological Disorders 

  • Poor lifestyle choices and the growing adoption of unhealthy habits have significantly increased the number of people suffering from neurological diseases. Growing incidence of Parkinson's disease, epilepsy, chronic pain, and depression are also contributing to the high demand for neurostimulation devices as they play a crucial role in the management and treatment of the conditions.

Growing Geriatric Population  

  • Increasing life expectancy around the world has led to a massive upsurge in the senior population. Old people are more at risk of developing neurological disorders such as dementia, Alzheimer's, and Parkinson’s, which makes them a key end user of neurostimulation devices. Hence, as the senescent population increases it is also expected to benefit neurostimulation devices market growth as well.  

Restraints 

Dearth of Skilled Medical Professionals 

  • Neurostimulation devices are highly advanced medical devices that require highly skilled medical professionals to operate. However, the world is facing a shortage of skilled workforce, and this trend is also true for the neurostimulation devices market as well. This absence of skilled medical professionals to use neurostimulation devices could impede market development potential going forward.  

Risk of Failure or Complications 

  • Even though neurostimulation devices are often used through minimally invasive procedures, they have multiple risks and complications associated with them. Infections, device malfunction, and adverse neurological effects are some key concerns that are expected to hamper the sales of neurostimulation devices across the study period. Addressing these concerns of risk and complications will be vital for market players in the future. 

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Neurostimulation Devices Market Competitive Landscape

Neurostimulation device manufacturers should focus on making their products more affordable to increase their sales potential. Creating products with minimal risk of complications should also be a key area of interest for all neurostimulation devices companies. Targeting countries with rapidly increasing geriatric population will also offer attractive returns for all neurostimulation devices companies in the future. 

Top Player’s Company Profiles in Neurostimulation Devices Market

  • Medtronic (Ireland) 
  • Abbott Laboratories (US) 
  • Boston Scientific Corporation (US) 
  • LivaNova PLC (U.K.) 
  • Nevro Corp. (US) 
  • NeuroPace, Inc. (US) 
  • Synapse Biomedical Inc. (US) 
  • Neuronetics, Inc. (US) 
  • NDI Medical LLC (US) 
  • Stimwave Technologies (US) 
  • BioControl Medical (Israel) 
  • EndoStim (US) 
  • Aleva Neurotherapeutics (Switzerland) 
  • SPR Therapeutics (US) 
  • electroCore, Inc. (US) 
  • Soterix Medical Inc. (US) 
  • Cala Health (US 
  • Inspire Medical Systems, Inc. (US) 
  • NeuroSigma, Inc. (US) 
  • Autonomic Technologies Inc. (US) 
  • Axonics Modulation Technologies, Inc. (US) 
  • Nexstim Plc (Finland) 

Neurostimulation Devices Market Recent Developments

  • In August 2024, the United States Food and Drug Administration announced the approval of a new neurostimulation devices. Inspire Medical Systems, a leading provider of neurostimulation devices has developed the Inspire V device to treat treating obstructive sleep apnoea (OSA). Following the approval the company revealed it will launch the product in 2025.  
  • In January 2024, Medtronic plc, global leader in medical device technology announced that it had won an approval for a new neurostimulation device. Percept™ RC Deep Brain Stimulation (DBS) system is a rechargeable medical device equipped with Medtronic’s exclusive BrainSense™ technology to provide personalized treatment for multiple disorders.  
  • In January 2024, Abbott, a renowned American medical device manufacturer announced the launch of Liberta RC™ deep brain stimulation (DBS) system. The newly launched product was dubbed the world’s smallest rechargeable neurostimulation device for the treatment of movement disorders.

Neurostimulation Devices Key Market Trends

  • Development of Personalized Neurostimulation: Preference of personalized medicine is increasing rapidly around the world and this trend has also reached the neurostimulation devices market. Neurostimulation devices can easily adapt to a patient's unique neurological patterns and are estimated to be highly popular in the future as they improve the effectiveness and efficiency of therapies for conditions like chronic pain and epilepsy.  
  • Non-Invasive Neurostimulation: Even though minimally invasive procedures are quite popular, the demand for non-invasive procedures is surging at a rampant pace around the world. Neurostimulation devices companies can focus on the development of new non-invasive neurostimulation devices to maximize their business scope in the long run. Transcranial magnetic stimulation (TMS) and transcutaneous electrical nerve stimulation (TENS) are key approaches that help this trend stand out from others.

Neurostimulation Devices Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.  

As per SkyQuest analysis, the growing incidence of neurological disorders and the growing senescent population are slated to bolster the demand for neurostimulation devices over the coming years. However, the risk of complications and dearth of skilled medical professionals are slated to slow down neurostimulation devices market growth potential in the future. North America is estimated to spearhead the global demand for neurostimulation devices owing to the presence of a developed healthcare infrastructure and high investments in neurology research. Development of non-invasive neurostimulation devices will be a major trend that will generate highly rewarding business scope for all market players in the long run. 

Report Metric Details
Market size value in 2023 USD 5.98 Billion
Market size value in 2032 USD 17.68 Billion
Growth Rate 12.80%
Base year 2024
Forecast period 2025-2032
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Implantable Devices and Non-Implantable Devices
  • Application
    • Pain Management and Parkinson's Disease
  • Region
    • North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Medtronic (Ireland) 
  • Abbott Laboratories (US) 
  • Boston Scientific Corporation (US) 
  • LivaNova PLC (U.K.) 
  • Nevro Corp. (US) 
  • NeuroPace, Inc. (US) 
  • Synapse Biomedical Inc. (US) 
  • Neuronetics, Inc. (US) 
  • NDI Medical LLC (US) 
  • Stimwave Technologies (US) 
  • BioControl Medical (Israel) 
  • EndoStim (US) 
  • Aleva Neurotherapeutics (Switzerland) 
  • SPR Therapeutics (US) 
  • electroCore, Inc. (US) 
  • Soterix Medical Inc. (US) 
  • Cala Health (US 
  • Inspire Medical Systems, Inc. (US) 
  • NeuroSigma, Inc. (US) 
  • Autonomic Technologies Inc. (US) 
  • Axonics Modulation Technologies, Inc. (US) 
  • Nexstim Plc (Finland) 
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Neurostimulation Devices Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Neurostimulation Devices Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Neurostimulation Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Neurostimulation Devices Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Neurostimulation Devices Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Neurostimulation Devices Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Neurostimulation Devices Market size was valued at USD 5.98 Billion in 2023 and is poised to grow from USD 6.75 Billion in 2024 to USD 17.68 Billion by 2032, growing at a CAGR of 12.80% during the forecast period (2025-2032).

Neurostimulation device manufacturers should focus on making their products more affordable to increase their sales potential. Creating products with minimal risk of complications should also be a key area of interest for all neurostimulation devices companies. Targeting countries with rapidly increasing geriatric population will also offer attractive returns for all neurostimulation devices companies in the future.  'Medtronic (Ireland) ', 'Abbott Laboratories (US) ', 'Boston Scientific Corporation (US) ', 'LivaNova PLC (U.K.) ', 'Nevro Corp. (US) ', 'NeuroPace, Inc. (US) ', 'Synapse Biomedical Inc. (US) ', 'Neuronetics, Inc. (US) ', 'NDI Medical LLC (US) ', 'Stimwave Technologies (US) ', 'BioControl Medical (Israel) ', 'EndoStim (US) ', 'Aleva Neurotherapeutics (Switzerland) ', 'SPR Therapeutics (US) ', 'electroCore, Inc. (US) ', 'Soterix Medical Inc. (US) ', 'Cala Health (US ', 'Inspire Medical Systems, Inc. (US) ', 'NeuroSigma, Inc. (US) ', 'Autonomic Technologies Inc. (US) ', 'Axonics Modulation Technologies, Inc. (US) ', 'Nexstim Plc (Finland) '

Poor lifestyle choices and the growing adoption of unhealthy habits have significantly increased the number of people suffering from neurological diseases. Growing incidence of Parkinson's disease, epilepsy, chronic pain, and depression are also contributing to the high demand for neurostimulation devices as they play a crucial role in the management and treatment of the conditions.

Development of Personalized Neurostimulation: Preference of personalized medicine is increasing rapidly around the world and this trend has also reached the neurostimulation devices market. Neurostimulation devices can easily adapt to a patient's unique neurological patterns and are estimated to be highly popular in the future as they improve the effectiveness and efficiency of therapies for conditions like chronic pain and epilepsy.  

North America secures the top spot when it comes to global neurostimulation device demand. The presence of a developed healthcare infrastructure, high healthcare spending potential, and availability of favorable reimbursement for neurological procedures are helping this region maintain a high market share. The increasing geriatric population and high investments in neurological research are also expected to create new opportunities for suppliers of neurostimulation devices in this region. The United States and Canada are slated to be the top markets in North America for neurostimulation device providers going forward. Moreover, the presence of key medical device manufacturers in this region will also aid the dominance of North America going forward.

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