UK Neurostimulation Devices Market Size & Outlook
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UK neurostimulation devices market highlights
- The UK neurostimulation devices market generated a revenue of USD 181.5 million in 2023 and is expected to reach USD 445.3 million by 2030.
- The UK market is expected to grow at a CAGR of 13.7% 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 181.5 million |
| Market revenue in 2030 | USD 445.3 million |
| Growth rate | 13.7% (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, UK accounted for 2.9% 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 49.48% in 2023. Horizon Databook has segmented the UK 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.
As per Epilepsy Society, more than 500,000 people in the UK are diagnosed with epilepsy. In addition, around 87 people are diagnosed with epilepsy every day in the UK. Deep Brain Stimulation (DBS) is a novel treatment for epilepsy.
Currently, there is no NHS funding for DBS therapy in the UK. Thus, increasing prevalence of diseases such as epilepsy, Parkinson’s disease, and depression is expected to drive the market. However, lack of funding may act as a restraint for the market growth.
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Neurostimulation Devices Market Scope
Neurostimulation Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| LivaNova PLC | View profile | 2900 | 20 Eastbourne Terrace, London, United Kingdom, W2 6LG | https://www.livanova.com |
| St. Jude Medical | View profile | 10001+ | Saint Paul, Minnesota, United States, North America | http://www.sjm.com |
| Nevro Corp | View profile | 1215 | 1800 Bridge Parkway, Redwood City, CA, United States, 94065 | https://www.nevro.com |
| Boston Scientific Corp | View profile | 48000 | 300 Boston Scientific Way, Marlborough, MA, United States, 01752-1234 | https://www.bostonscientific.com |
| Medtronic PLC | View profile | 95000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | https://www.medtronic.com |
UK neurostimulation devices market size, by product, 2018-2030 (US$M)
UK Neurostimulation Devices Market Outlook Share, 2023 & 2030 (US$M)
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