Latin America Neurostimulation Devices Market Size & Outlook
Latin America neurostimulation devices market, 2018-2030 (US$M)
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Latin America neurostimulation devices market highlights
- The Latin America neurostimulation devices market generated a revenue of USD 232.0 million in 2023.
- The market is expected to grow at a CAGR of 14.4% 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.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 232.0 million |
| Market revenue in 2030 | USD 594.7 million |
| Growth rate | 14.4% (CAGR from 2023 to 2030) |
| Largest segment | Spinal cord stimulator |
| Fastest growing segment | Sacral Nerve 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 |
| Key market players worldwide | Medtronic PLC, LivaNova PLC, Boston Scientific Corp, St. Jude Medical, Nevro Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.6% of the global neurostimulation devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,721.4 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 48.41% in 2023. Horizon Databook has segmented the Latin America 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.
Latin America accounted for 3.39% of the global market. Key driving factors of neurostimulation market in Latin America are rising consumer spending, huge foreign direct investment, favorable reimbursement policies, and increasing healthcare expenditure.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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Latin America neurostimulation devices market size, by country, 2018-2030 (US$M)
Latin America Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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