Australia Neurostimulation Devices Market Size & Outlook
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Australia neurostimulation devices market highlights
- The Australia neurostimulation devices market generated a revenue of USD 123.6 million in 2023 and is expected to reach USD 326.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 14.9% from 2024 to 2030.
- In terms of segment, spinal cord stimulator was the largest revenue generating product in 2023.
- Sacral Nerve Stimulator is the most lucrative product segment registering the fastest growth during the forecast period.
Neurostimulation devices market data book summary
| Market revenue in 2023 | USD 123.6 million |
| Market revenue in 2030 | USD 326.6 million |
| Growth rate | 14.9% (CAGR from 2023 to 2030) |
| Largest segment | Spinal cord stimulator |
| Fastest growing segment | Sacral Nerve Stimulator |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, Gastric Electric Stimulator |
| Key market players worldwide | Medtronic PLC, LivaNova PLC, Boston Scientific Corp, St. Jude Medical, Nevro Corp |
Other key industry trends
- In terms of revenue, Australia accounted for 1.9% of the global neurostimulation devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China neurostimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 482.1 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 49.11% in 2023. Horizon Databook has segmented the Australia neurostimulation devices market based on spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, gastric electric stimulator covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing incidence of chronic disorder such as epilepsy are expected to rise the market demand. Approximately 250,000 people in Australia are currently living with epilepsy. Epilepsy is most frequently diagnosed in early childhood and in people aged over 65 years. Thus, increasing number of people suffering from epilepsy is primarily driving market growth in the country.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| LivaNova PLC | View profile | 2900 | 20 Eastbourne Terrace, London, United Kingdom, W2 6LG | https://www.livanova.com |
| St. Jude Medical | View profile | 10001+ | Saint Paul, Minnesota, United States, North America | http://www.sjm.com |
| Nevro Corp | View profile | 1215 | 1800 Bridge Parkway, Redwood City, CA, United States, 94065 | https://www.nevro.com |
| Boston Scientific Corp | View profile | 48000 | 300 Boston Scientific Way, Marlborough, MA, United States, 01752-1234 | https://www.bostonscientific.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
Australia neurostimulation devices market size, by product, 2018-2030 (US$M)
Australia Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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