Brazil Neurostimulation Devices Market Size & Outlook
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Brazil neurostimulation devices market highlights
- The Brazil neurostimulation devices market generated a revenue of USD 68.0 million in 2023 and is expected to reach USD 178.8 million by 2030.
- The Brazil market is expected to grow at a CAGR of 14.8% 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 68.0 million |
| Market revenue in 2030 | USD 178.8 million |
| Growth rate | 14.8% (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, Brazil accounted for 1.1% 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 Latin America, Brazil neurostimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 178.8 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 48.97% in 2023. Horizon Databook has segmented the Brazil 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.
Product approvals by medical devices regulatory authorities such as Brazilian Health Regulatory Agency (ANVISA) are expected to drive the market. For instance, in April 2017, Soterix Medical’s PainX and Depression-LTE received approval by ANVISA. In addition, in 2015, EndoStim’s EndoStim II LES Stimulation System received approval by ANVISA for gastroesophageal reflux disease.
According to WHO, Brazil has the highest number of people suffering from depression as compared to other countries in Latin America. In addition, around 800,000 people in the age group of 15-29 years die due to suicides. Thus, rising prevalence of diseases such as depression, epilepsy, & Parkinson’s disease and increasing product approvals by ANVISA is expected to drive the market.
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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 |
Brazil neurostimulation devices market size, by product, 2018-2030 (US$M)
Brazil Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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