Canada Neurostimulation Devices Market Size & Outlook
Canada neurostimulation devices market, 2018-2030 (US$M)
Related Markets
Canada neurostimulation devices market highlights
- The Canada neurostimulation devices market generated a revenue of USD 553.5 million in 2023 and is expected to reach USD 1,372.9 million by 2030.
- The Canada market is expected to grow at a CAGR of 13.9% 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 553.5 million |
| Market revenue in 2030 | USD 1,372.9 million |
| Growth rate | 13.9% (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, Canada accounted for 8.7% 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 North America, U.S. neurostimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,372.9 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 50.82% in 2023. Horizon Databook has segmented the Canada 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.
Mental illnesses are characterized by complex interplay of personality, genetic, environmental, and personality factors. As per Centre for Addiction and Mental Health (CAMH), around 34% of high school students in Ontario are suffering from moderate to serious level depression and anxiety.
In addition, according to Canadian Institute for Health Information, in 2018, the total health expenditure is expected to reach USD 253.5 billion. Thus, increasing prevalence of obesity & mental illness and rise in healthcare expenditure is expected to drive the market.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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Canada neurostimulation devices market size, by product, 2018-2030 (US$M)
Canada Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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