South Africa Neurostimulation Devices Market Size & Outlook
South Africa neurostimulation devices market, 2018-2030 (US$M)
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South Africa neurostimulation devices market highlights
- The South Africa neurostimulation devices market generated a revenue of USD 27.6 million in 2023 and is expected to reach USD 70.2 million by 2030.
- The South Africa market is expected to grow at a CAGR of 14.3% 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 27.6 million |
| Market revenue in 2030 | USD 70.2 million |
| Growth rate | 14.3% (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, South Africa accounted for 0.4% 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 Middle East & Africa, UAE neurostimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 70.2 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 48.19% in 2023. Horizon Databook has segmented the South Africa 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.
Government and healthcare organizations are undertaking initiatives to improve healthcare facilities in respective MEA countries. Economic development of South Africa and presence of high unmet healthcare needs are some of the primary growth drivers of this market. According to OECD, more than one in four adults in South Africa is obese.
Furthermore, according to Republic of South Africa Department of Health, around 70% women and 40% men in South Africa are obese. In addition, obesity-related diseases such as cancer, type 2 diabetes, and others account for more than 40% deaths in South Africa. Thus, increase in prevalence of obesity boosts the neurostimulation market growth.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa neurostimulation devices market size, by product, 2018-2030 (US$M)
South Africa Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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