Singapore Neurostimulation Devices Market Size & Outlook
Singapore neurostimulation devices market, 2018-2030 (US$M)
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Singapore neurostimulation devices market highlights
- The Singapore neurostimulation devices market generated a revenue of USD 103.4 million in 2023 and is expected to reach USD 270.5 million by 2030.
- The Singapore market is expected to grow at a CAGR of 14.7% 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 103.4 million |
| Market revenue in 2030 | USD 270.5 million |
| Growth rate | 14.7% (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, Singapore accounted for 1.6% 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 49.32% in 2023. Horizon Databook has segmented the Singapore 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 geriatric population in Singapore is expected to drive market growth during the forecast period. With the growing geriatric population, the demand for public healthcare institutions is rising, leading to an increase in the funds for these institutions. These factors present large untapped growth opportunities for the market in Singapore.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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Singapore neurostimulation devices market size, by product, 2018-2030 (US$M)
Singapore Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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