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 2024-2031

Global Neurostimulation Devices Market size was valued at USD 5.3 Billion in 2022 and is poised to grow from USD 5.98 Billion in 2023 to USD 15.67 Billion by 2031, at a CAGR of 12.80% during the forecast period (2024-2031). 

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.