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Neurostimulation devices market to grow by USD 6.26B from 2023-27

The global neurostimulation devices market size is estimated to grow by USD 6.26 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of about 12.19% during the forecast period.

Market driver
Neurostimulation devices, including deep brain stimulators, spinal cord stimulators, sacral nerve stimulators, vagus nerve stimulators, and transcutaneous electrical nerve stimulation (TENS) units, are gaining approval for various indications and undergoing clinical trials. These implantable medical devices, used for neuromodulation and neurostimulation, have shown promise in treating chronic conditions such as neuropathic pain, essential tremors, dystonia, gastroparesis, and orthopedic degenerative disorders. Neurostimulation offers a potential solution for patients with unrelenting pain from neurodegenerative diseases like Alzheimer’s and Parkinson’s (PD), stroke, and neurological disorders. Key players in the market include Abbott with their Proclaim DRG Neurostimulator System, Neuspera Medical, and others. Indications include chronic pain, migraine, epilepsy, and essential tremors.

Research analysis
The neurostimulation devices market encompasses a range of implantable medical devices, including neurostimulators for Parkinson’s Disease (PD), Deep Brain Stimulation (DBS), and various other neuromodulation therapies. These devices, which include gastric electric stimulators, spinal cord stimulators, sacral nerve stimulators, vagus nerve stimulators, and Transcutaneous Electrical Nerve Stimulation (TENS) units, are utilized for the treatment of neurological diseases and disorders such as Alzheimer’s, Stroke, nerve injuries, and Overactive Bladder Syndrome. Reimbursement policies and healthcare providers’ preferences significantly influence the market dynamics. Invasive procedures like DBS and traditional surgical treatments continue to dominate, while emerging countries present new opportunities for growth. Chronic pain management is another significant application area for neurostimulation devices.

Market research overview
Neurostimulation devices market refers to the industry that produces and supplies electronic devices used for the diagnosis, treatment, and management of neurological disorders. These devices employ various techniques such as transcranial magnetic stimulation, electroconvulsive therapy, and spinal cord stimulation to modulate neural activity. Neurological disorders encompass a wide range of conditions including Parkinson’s disease, epilepsy, depression, chronic pain, and Alzheimer’s disease. Devices like deep brain stimulators, vagus nerve stimulators, and sacral nerve stimulators are commonly used. The market is driven by the increasing prevalence of neurological disorders, technological advancements, and growing awareness and acceptance of neurostimulation therapies. The market is expected to grow significantly in the coming years due to these factors. Additionally, regulatory approvals, reimbursement policies, and collaborations between industry players and research institutions are also influencing the market’s growth trajectory. Technavio

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