Implantable Neurostimulators Market Size, Share & Trends Analysis Report By Type (Deep Brain Stimulators, Spinal Cord Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators), By Application, By Region, And Segment Forecasts, 2020 - 2027

Report Overview

The global implantable neurostimulators market size was valued at USD 4.6 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 11.7% from 2020 to 2027. The increasing prevalence of various chronic disorders, such as epilepsy, Parkinson’s disease, movement disorders, chronic pain, and depression, as well as advancements in minimally invasive neurosurgical procedures, are the major factors expected to drive the market.

Demand for implantable neurostimulators is growing significantly owing to their increasing applications for managing chronic neurological disorders and conditions such as neuropathic pain, nociceptive pain, epilepsy, urinary incontinence, depression, and Parkinson’s disease (PD). Neurostimulation therapy is used to diagnose and treat numerous disorders associated with the nervous system. It helps to reduce chronic pain and symptoms associated with disorders such as Parkinson’s disease, and epilepsy. The currently available implantable neurostimulators mainly focus on deep brain stimulation, spinal cord stimulation, vagus nerve stimulation, and sacral nerve stimulation. These devices are surgically inserted into the patient’s organs to deliver electrical stimulation to the intended parts of the patient’s brain, spinal cord, and peripheral nervous system, to modify nerve cell activity and brain cells. Thus, the diseases or conditions that do not respond to drug therapies are advised for implantable neurostimulators for treating them.

Moreover, according to the WHO, millions of people are affected by neurological disorders and contribute 6.3% to the global disease burden globally. It is anticipated that there are 47.5 million people living with dementia and 7.7 million new cases are diagnosed every year, globally. Furthermore, the prevalence of stress and depression is constantly increasing globally and is a leading cause of disability worldwide. For instance, as per the WHO 2020 report, more than 264 million adults are suffering from depression, globally. Implantable neurostimulators have proved to play an important role in providing therapeutic solutions for Parkinson’s disease, epilepsy, depression, and other associated conditions. This is expected to drive the market for implantable neurostimulators during the forecast period.

Rising demand for minimally invasive neurosurgeries due to enhanced patient outcomes is projected to escalate the adoption rate of implantable neurostimulators in the market. Since these procedures utilize light electrical currents to incite the nerves associated with pain signals. The growing demand is also due to minimal pain, high cost-efficiency, safety, efficacy, and rapid recovery than in traditional procedures. Other factors that are responsible for the replacement of open/invasive neurosurgeries with minimally invasive neurosurgeries are lesser incision wounds leading to higher patient satisfaction, economically viable due to short duration of hospital stays, few cases of post-surgical complications, and lesser mortality. These benefits are cumulatively responsible for driving the market for implantable neurostimulators.

Countries such as the U.S. and Canada have witnessed increasing cases of neurological disorders and lifestyle-related disorders and growing demand for minimally invasive surgeries in recent years. The rising number of people suffering from disorders such as Parkinson’s disease, spinal cord injury, urinary incontinence, migraine, and depression is majorly driving the market for implantable neurostimulators. For instance, as per the study of Parkinson's Foundation, more than 10.0 million people worldwide are living with PD. Nearly one million will be living with PD in the U.S. by 2020, and approximately 60,000 Americans are diagnosed with PD each year. Similarly, according to the Canadian Mental Health Association, 1 in 5 people in Canada is suffering from any mental health problem or illness. Thus, with the increasing number of neurological diseases, the demand for implantable neurostimulators is expected to grow significantly. This is anticipated to boost the growth of the market for implantable neurostimulators in the forecast period.

Technological advancements in implantable neurostimulators are anticipated to create growth opportunities for this market. These technological improvements involve robot-assisted implantation, multi-target stimulation, improved microelectrode designs, rechargeable implantable pulse generators, and personalized programming. Owing to these advancements, implantable neurostimulators have shown lesser adverse effects, greater efficacy, and symptomatic relief in patients with neurological disorders. Key players are continuously incorporating unique technologies into their product lines to treat symptoms of associated disorders and reduce adverse effects. For instance, the Infinity DBS system by Abbott is a technologically developed new deep brain stimulator, which delivers customized therapy to help patients gain control of their symptoms.

Type Insights

The spinal cord stimulators segment dominated the implantable neurostimulators market and accounted for the largest revenue share of 52.5% in 2019. Spinal Cord Stimulators (SCS) are used often after medication treatment options have failed to provide sufficient relief from chronic neuropathic pain. These devices send low levels of electricity directly into the spinal cord to relieve pain without making any anatomical changes to the target area. Thus, increasing worldwide application of SCS in failed back surgery, pain caused by peripheral neuropathy, pain due to low supply of blood, ischemic limb pain, complex regional pain syndrome, and occipital neuralgia is expected to fuel the growth of the market for implantable neurostimulators during the forecast period.

However, the sacral nerve stimulators segment is expected to witness the highest CAGR of 13.0% from 2020 to 2027. This is owing to the increasing number of patients with overactive bladders and the rising awareness among the population about nervous system disorders treatment. For instance, as per the National Association for Continence (NAFC), over 33.0 million people in America suffer from some type of urinary incontinence or bladder condition, where women are twice affected as compared to men. These stimulators are widely utilized and recommended for the treatment of chronic conditions such as fecal incontinence and urinary incontinence. This is expected to boost segment growth during the forecast period.

Application Insights

The pain management segment has dominated the market for implantable neurostimulators and accounted for the largest revenue share of 65.1% in 2019 and is expected to witness the highest CAGR of 12.3% from 2020 to 2027. The high prevalence of chronic pain disorders such as migraine, disk surgery pain, limb pain, and leg pain is anticipated to boost segment growth during the forecast period. For instance, as per the Migraine Research Foundation 2020, migraine is the 3rd most prevalent neurological illness across the globe, affecting 1.0 billion globally, and 39.0 million people in the U.S. Thus, the growing product usage for pain management due to their high therapeutic benefits is the key factor driving segment growth during the forecast period.

Furthermore, the increasing prevalence of Parkinson’s disease is expected to boost demand for implantable neurostimulators. For instance, as per the statistics of Parkinson’s U.K. in 2020, more than 145,000 people are living with Parkinson's disease. With increasing population and aging, this number is expected to increase by 2030 to around 172,000 people in the U.K., which is likely to contribute to the market development. The increasing number of patients suffering from PD is encouraging several manufacturers to develop advanced products for better patient care, thereby driving segment growth during the forecast period.

Regional Insights

North America dominated the market for implantable neurostimulators and accounted for the largest revenue share of 49.2% in 2019. Development and introduction of innovative neurostimulators, approvals by regulatory authorities for new techniques in the devices, and the presence of well-established healthcare infrastructures are significant market trends in the region. In addition, the rising prevalence of various disorders such as chronic pain, urinary incontinence, Parkinson's disease, and epilepsy, favorable reimbursement scenarios in healthcare settings, are expected to drive the market for implantable neurostimulators in North America. Moreover, the presence of major key players such as Abbott, Medtronic, Boston Scientific Corporation, and NeuroPace, Inc., is also contributing towards market growth in the region. Thus, an increasing number of neurological and lifestyle disorders and easy accessibility and availability of advanced therapeutics are primarily driving the market for implantable neurostimulators in this region.

In the Asia Pacific, the market for implantable neurostimulators is expected to witness the highest CAGR of 12.9% from 2020 to 2027. This is attributed to factors such as an increase in the incidence of neurological disorders coupled with the rising geriatric population in this region. In addition, government and private organization’s initiatives to raise awareness regarding mental health are also contributing to the market growth in this region. As per the WHO Report 2017, more than 86 million people in the South-East Asia region were affected by depressive disorder (depression). Moreover, the rising number of healthcare reforms, improving healthcare infrastructure and increasing healthcare expenditures in the emerging markets such as India and China to overcome the unmet medical needs in these regions offer lucrative opportunities to the players in the market for implantable neurostimulators to expand their business. Thus, these factors are driving the market for implantable neurostimulators in this region.

Key Companies & Market Share Insights

Manufacturers are focusing more on R&D to develop technologically advanced products and to gain a competitive advantage. For instance, in March 2020, NeuroPace, Inc. got approval from the U.S. FDA of MRI labeling for its RNS System. This approval will expand treatment options for more than one million patients in the U.S. living with seizures and do not respond to medication. Similarly, in November 2019, Nevro Corporation announced the U.S. FDA approval and launch of the Senza Omnia Spinal Cord Stimulation system in the U.S. market. It is intended to deliver HF10 therapy to cure prolonged pain. These advancements are anticipated to boost the growth of the market for implantable neurostimulators over the forecast period.

Companies are involving in regional expansion mergers, acquisitions, and partnerships aiming to strengthen their product portfolio, manufacturing capacities, and provide competitive diversity. For instance, in May 2019, Abbott signed an agreement with the National Institutes of Health (NIH) on the BRAIN (Brain Research through Advancing Innovative Neurotechnologies) initiative. Through this partnership, the company will deliver its neuromodulation technologies which include spinal cord stimulation, directional deep brain stimulation, and dorsal root ganglion therapy to these NIH initiatives to explore their applications in chronic pain and progressive movement disorders such as Parkinson’s disease, epilepsy, essential tremor, and chronic pain. Some of the prominent players in the implantable neurostimulators market include:

• Abbott (St. Jude Medical)

• Medtronic

• Boston Scientific Corporation

• Aleva Neurotherapeutics SA

• Synapse Biomedical Inc.

• Nevro Corp.

• LivaNova PLC

• NeuroPace, Inc.

Implantable Neurostimulators Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global Implantable neurostimulators market report on the basis of type, application, and region:

• Type Outlook (Revenue, USD Million, 2016 - 2027)

  • Deep Brain Stimulators

  • Spinal Cord Stimulators

  • Vagus Nerve Stimulators

  • Sacral Nerve Stimulators

  • Gastric Electric Stimulators

• Application Outlook (Revenue, USD Million, 2016 - 2027)

  • Pain Management

  • Parkinson’s Disease

  • Urinary and Fecal Incontinence

  • Epilepsy

  • Gastroparesis

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • The Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE