Global Neurostimulation Devices Market Size & Outlook
Global neurostimulation devices market, 2018-2030 (US$M)
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Global neurostimulation devices market highlights
- The global neurostimulation devices market generated a revenue of USD 6,359.8 million in 2023 and is expected to reach USD 14,815.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 12.8% by 2030.
- In terms of segment, spinal cord stimulator accounted for a revenue of USD 3,248.8 million in 2023.
- Gastric Electric Stimulator is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 6,359.8 million |
| Market revenue in 2030 | USD 14,815.9 million |
| Growth rate | 12.8% (CAGR from 2023 to 2030) |
| Largest segment | Spinal cord stimulator |
| Fastest growing segment | Gastric Electric Stimulator |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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 |
Other key industry trends
- In terms of revenue, the North America accounted for 59.5% of the global neurostimulation devices market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 6,960.4 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 51.08% in 2023. Horizon Databook has segmented the Global 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.
The neurostimulation devices market has a high growth potential. Manufacturers continue to undertake extensive R&D activities to develop new products and advanced technologies. In addition, technological advancements in neurostimulation devices are expected to drive market growth during the forecast period.
For instance, in June 2021, Aleva Neurotherapeutics, a developer of implants for deep brain stimulation (DBS) in major neurological indications such as Parkinson's disease and essential tremor, today announced the successful implantation of a first patient with the directSTIMTM Directional Deep Brain Stimulation System.
Aleva is aiming to obtain IDE approval by the US FDA in Q4, 2021. Moreover, technologies such as gastric, hypoglossal, and carotid artery stimulation systems are under development, which are expected to contribute to market growth during the forecast period.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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Global neurostimulation devices market size, by regions, 2018-2030 (US$M)
Top 10 countries: Neurostimulation devices market size, 2023 (US$M)
Global neurostimulation devices market share, by product, 2023 & 2030 (%, US$M)
Neurostimulation Devices Market: Opportunity Assessment By Country
Global neurostimulation devices market, by region, 2023 (US$M)
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