Spain Neurostimulation Devices Market Size & Outlook
Spain neurostimulation devices market, 2018-2030 (US$M)
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Spain neurostimulation devices market highlights
- The Spain neurostimulation devices market generated a revenue of USD 126.2 million in 2023 and is expected to reach USD 287.4 million by 2030.
- The Spain market is expected to grow at a CAGR of 12.5% 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 126.2 million |
| Market revenue in 2030 | USD 287.4 million |
| Growth rate | 12.5% (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, Spain accounted for 2.0% 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 Europe, Germany neurostimulation devices market is projected to lead the regional market in terms of revenue in 2030.
- Germany is the fastest growing regional market in Europe and is projected to reach USD 525.9 million by 2030.
Spinal cord stimulator was the largest segment with a revenue share of 51.82% in 2023. Horizon Databook has segmented the Spain 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 incidence of chronic disorders, such as epilepsy and migraine, is primarily driving market growth in Spain. Epilepsy is one of the most common neurological disorders in the country. In line with this, epilepsy affects approximately 345,000 people in Spain, of which 29,000 are children.
Currently, the number of patients suffering from chronic diseases in the country is increasing owing to the rising life expectancy rates and growing adoption of sedentary lifestyle. Thus, the abovementioned factors are likely to drive the growth of the market for neurostimulation devices during the forecast period.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
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Spain neurostimulation devices market size, by product, 2018-2030 (US$M)
Spain Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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