India Neurostimulation Devices Market Size & Outlook
India neurostimulation devices market, 2018-2030 (US$M)
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India neurostimulation devices market highlights
- The India neurostimulation devices market generated a revenue of USD 138.1 million in 2023 and is expected to reach USD 373.1 million by 2030.
- The India market is expected to grow at a CAGR of 15.3% 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 138.1 million |
| Market revenue in 2030 | USD 373.1 million |
| Growth rate | 15.3% (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, India accounted for 2.2% 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 50.62% in 2023. Horizon Databook has segmented the India 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 prevalence of lifestyle-induced disorders and adoption of unhealthy eating patterns are contributing to market growth in India. Factors such as sedentary lifestyles, unhealthy eating habits, limited or no physical activity are contributing to the growing prevalence of obesity in the country.
Currently, India has the second highest obese population in the world, with about 155 million people suffering from obesity in 2018, and the number is expected to increase in the future. Thus, increasing rate of obesity, due to the rising adoption of unhealthy lifestyle, is significantly driving market growth in India.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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India neurostimulation devices market size, by product, 2018-2030 (US$M)
India Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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