Neurostimulation Devices Market Size, Share, and Growth Forecast for 2024 - 2031

The neurostimulation devices market is estimated to increase from US$ 6.7 Bn in 2024 to US$ 14.6 Bn by 2031. The market is projected to record a CAGR of 11.7% during the forecast period from 2024 to 2031. Increasing prevalence of Parkinson’s disease is likely to create novel opportunities in the market.

Around 0.3% of the general population worldwide has Parkinson's Disease (PD). The frequency rises with age, reaching 1% of those over 60. Prevalence in those 80 years of age and older is anticipated to be 3 to 5%. Men are 1.5 times more likely to develop Parkinson's than women.

In the U.S., around 572 per 100,000 individuals in the general population suffer from PD. An estimated 1.2 million individuals will have Parkinson's by 2030 due to aging demographics. Nearly 145,000 people are living with PD in the U.K., equating to a prevalence of approximately 260 per 100,000. The rate surges to 2% among those over 65 years old.

Key Highlights of the Market

• Increasing prevalence of neurological disorders such as Parkinson's disease, epilepsy, and chronic migraines is significantly driving demand for neurostimulation devices.
• Favorable reimbursement policies in key markets like North America and Europe are accelerating neurostimulation device sales.
• Spinal cord stimulators hold a dominant 39.8% share in 2024 due to their effectiveness in managing chronic pain, particularly among patients with failed back surgery syndrome and complex regional pain syndrome.
• Pain management leads the market with a 41.2% share in 2024 due to the increasing prevalence of chronic pain conditions and growing preference for non-invasive treatment options.
• Hospitals maintain dominance with a share of 51.2% in 2024 as they serve as the primary setting for the treatment of complex neurological conditions.
• North America will likely generate a share of 40.1% in 2024 backed by innovations in non-invasive treatment options.
• Wearable neurostimulation devices offer a promising opportunity for the growing demand for non-invasive pain management solutions.

North America leads the neurostimulation devices market due to its innovative healthcare infrastructure, high consumer awareness, and strong regulatory support. The region also sees the adoption of invasive neurostimulation treatments like Deep Brain Stimulation (DBS), used to treat Parkinson’s disease and other neurological disorders.

Spinal Cord Stimulation (SCS), on the other hand, is set to be used for chronic pain management. Both technologies involve surgically implanted devices, providing targeted and effective relief for conditions that might not respond well to non-invasive treatments. The combination of these invasive solutions with wearable alternatives contributes to North America's position as the leader in the market.

Spinal Cord Stimulators (SCS) are projected to be the most prominent contributor to the stimulators for pain relief industry, accounting for 39.8% of the share in 2024. This growth is driven by the increasing prevalence of chronic pain conditions, such as failed back surgery syndrome, complex regional pain syndrome, and neuropathic pain.

SCS devices like Medtronic’s Intellis™ system are highly effective in managing these conditions by providing targeted electrical impulses to the spinal cord, offering significant pain relief. The ability of SCS to reduce opioid use, along with technological innovations like high-frequency stimulation, is further propelling its adoption. Moreover, the system’s long-term effectiveness and minimal invasiveness make it an attractive option for both patients and healthcare providers, solidifying its dominant position.

Pain management is set to be the leading application in the neurostimulation devices market, accounting for 41.2% of the share in 2024. It will likely be driven by the widespread prevalence of chronic pain across the globe.

• According to estimates, 20 to 30% of adults worldwide suffer from chronic pain. About 30% of adults in North America say they have chronic discomfort. Particularly prevalent ailments include arthritis and lower back discomfort.
• In low- and middle-income countries, the rates are high, especially among the geriatric population backed by high physical activities and limited healthcare access.

Devices like Spinal Cord Stimulation (SCS) and Transcutaneous Electrical Nerve Stimulation (TENS) have proven to offer substantial pain relief. These can help in improving patient outcomes while reducing the reliance on opioids. As the focus on non-pharmacological treatments grows, pain management is set to remain the dominant application. It is anticipated to be further fueled by technological developments that enhance the precision and efficacy of these therapies.

Due to their vital role in the implantation and maintenance of neurostimulation devices, hospitals continue to dominate the market. For treatments like spinal cord stimulator implantation, hospitals offer the specific settings and knowledge needed. Professional care and post-operative monitoring are usually required for the procedure.

To guarantee optimal device performance, hospitals also provide follow-up treatment, which includes programming adjustments. The segment’s sustained dominance in the neurostimulation device industry is fueled by this integrated care paradigm, which establishes them as key stakeholders.

The neurostimulation devices market is experiencing rapid growth due to a range of factors. Rising prevalence of chronic pain and neurological disorders, such as neuropathic pain and failed back surgery syndrome, is pushing demand for therapies like Spinal Cord Stimulation (SCS), which offer effective long-term relief.

High costs associated with these novel therapies, however, remain a significant restraint, limiting accessibility, particularly in emerging markets. A key trend in the market is the increasing shift toward minimally invasive procedures, such as Implantable Pulse Generators (IPG), which reduce recovery time and improve patient satisfaction.

The integration of digital health technologies presents a strong opportunity for innovation. Devices like Medtronic’s Intellis™ system are incorporating remote monitoring and digital platforms. These enable personalized care and enhance device performance, making them more appealing for long-term management and improving patient outcomes.

The neurostimulation devices market witnessed a steady CAGR of 9.8% in the historical period from 2019 to 2023. It was driven by innovations in technology and increasing demand for effective treatments for chronic pain and neurological disorders.

Early innovations such as spinal cord stimulators and deep brain stimulators revolutionized pain management, offering patients alternatives to traditional medications and surgeries. As awareness of the benefits of neurostimulation devices grows, the market has extended to address a wide range of conditions like epilepsy, Parkinson’s disease, and depression.

The market is poised for continued expansion through 2031. The integration of digital health solutions and the development of minimally invasive procedures are set to enhance the capabilities of neurostimulation devices. The rise of closed-loop systems and patient-specific treatment options will likely make these devices more personalized, improving patient outcomes and satisfaction.

Growing focus on reducing reliance on opioids for pain management presents a substantial opportunity for global market players to provide long-term, safe, and effective alternatives. The combination of technological innovation, broader applications, and evolving healthcare needs will likely continue to propel the market forward in the next ten years.

Rising Prevalence of Neurological Disorders to Drive Demand

One of the main factors propelling the market for neurostimulation devices is the increasing incidence of neurological illnesses across the globe. More than 8 out of 10 people with chronic pain also suffer from severe depression, underscoring the need for efficient treatment options.

Chronic pain alone costs the U.S. up to US$ 635 Bn a year. Furthermore, neurological disorders like Parkinson's disease, which affects around a million individuals in the U.S., and epilepsy, which affects 50 million individuals worldwide, are becoming more prevalent.

The need for neurostimulation therapies, such as Spinal Cord Stimulation (SCS) and Deep Brain Stimulation (DBS), will likely rise as the number of people with these conditions grows. These therapies help provide long-term solutions for epilepsy, pain management, and other ailments. Additionally, it is anticipated that improvements in these treatments will enable millions of people with these illnesses to live better lives by reducing their symptoms.

Favorable Reimbursement Policies to Boost Growth

Favorable reimbursement policies are playing a key role in the expansion of the vagus nerve stimulation devices industry. With Medicare’s National Coverage Determination (NCD) for Spinal Cord Stimulation (SCS) and Dorsal Root Ganglion (DRG) stimulation, patients who have chronic, intractable pain or have failed other treatments are granted coverage for these novel therapies.

Private insurance providers are also increasingly offering coverage for these procedures, though specific terms and conditions vary by plan. This surging acceptance from both public and private insurers ensures greater access to these treatments, which is fueling market growth.

The availability of reimbursement for procedures like SCS and DRG, along with developments in the technology itself, has made neurostimulation therapies a viable option for patients suffering from chronic pain. This has ultimately enhanced quality of life and reduced reliance on pharmaceutical treatments. These favorable reimbursement policies offer the necessary financial support, making neurostimulation an attractive treatment choice for patients and healthcare providers alike.

High Operating Costs due to Expensive Parts May Hinder Adoption

One of the main obstacles to the broad use of neurostimulation devices is their high operating costs, which limit their accessibility and uptake. For instance, the development of spinal cord stimulators, which are used to treat chronic pain, is expensive as they require precise parts like electrodes and pulse generators.

The whole price burden is further increased by the need for healthcare providers to receive specific training to implant and manage these devices. Furthermore, several patients, especially those without full insurance, may find these treatments pricey. This is due to the requirement for frequent maintenance, continuous patient monitoring, and periodic upgrades. Because of this restricted access, neurostimulation therapies cannot be more widely included in standard pain care.

Insurance and Reimbursement Barriers to Hamper Demand

Limited awareness of wearable neurostimulation devices in emerging economies significantly hampers market penetration and adoption. In various developing countries, healthcare professionals and patients may not be aware of unique non-invasive treatments like neurostimulation, hindering their willingness to embrace these technologies.

The limited infrastructure in these countries, coupled with affordability challenges, can pose a vital restraint. Even when patients are aware of the benefits, the high cost and lack of insurance coverage remain significant deterrents. This awareness gap also affects healthcare providers, who may not recommend these options due to their unfamiliarity with technology.

While neurostimulation devices have demonstrated positive outcomes, their uptake in emerging economies remains limited, preventing patients from accessing potential solutions. To address this, increased awareness campaigns, government initiatives, and better distribution channels are essential for educating both healthcare professionals and consumers. By tackling these awareness challenges, manufacturers can unlock significant growth in these untapped markets, ultimately improving global access to non-invasive pain management solutions.

Companies to Revolutionize Pain Relief with Wearable Neurostimulation Devices

Wearable neurostimulation devices represent a golden opportunity in the healthcare sector, especially in pain management and chronic condition treatments. These devices provide a convenient, non-invasive alternative to traditional therapies. These help offer users the ability to manage conditions like migraines, chronic pain, and anxiety from the comfort of their own homes. For example,

• Quell® is a 100% drug-free wearable pain relief device that uses prescription-strength nerve stimulation to alleviate chronic pain, which is usable both day and night.
• Similarly, CEFALY offers a drug-free solution for migraine relief, helping to treat acute attacks and reduce the frequency of episodes.

Due to their ability to improve patient outcomes while minimizing reliance on medications, these devices are becoming a preferred choice for both consumers and healthcare providers.

The field of brain stimulation devices is competitive, with leading companies like Medtronic, Boston Scientific, Abbott, and Nevro Corporation. Medtronic, for instance, dominates with its Percept™ DBS system for neurological disorders.

Boston Scientific, on the other hand, strengthens its position through acquisitions, such as the recent purchase of Axonics to enhance its urology portfolio. These players drive growth by innovating technologies like closed-loop systems and extending applications in neurology as well as psychiatry. Strategic partnerships are also key to maintaining a competitive edge.

Recent Developments in the Neurostimulation Devices Market

• In January 2024, NeuroSigma, Inc., based in Los Angeles, announced that the U.S. FDA granted clearance for its second-generation Monarch eTNS System (Monarch 2.0) for the treatment of pediatric ADHD. The device is approved as a monotherapy for children aged 7 to 12 years who are not on prescription ADHD medications
• In January 2024, Minnesota-based Medtronic plc, announced the FDA approval of its Percept™ RC Deep Brain Stimulation (DBS) system. The rechargeable neurostimulator is the latest addition to the Percept™ family. It includes the Percept™ PC neurostimulator, BrainSense™ technology, and SenSight™ directional leads.
• In January 2024, Boston Scientific, headquartered in Marlborough, entered into a definitive agreement to acquire Axonics, Inc. It is a medical technology company specializing in devices for urinary and bowel dysfunction. The transaction, valued at US$ 3.4 Bn, will likely enhance Boston Scientific’s urology portfolio with Axonics' sacral neuromodulation therapies.

By Product Type

• Spinal Cord Stimulators (SCS)
• Deep Brain Stimulators (DBS)
• Vagus Nerve Stimulators (VNS)
• Sacral Nerve Stimulators
• Transcranial Magnetic Stimulation (TMS) Devices
• Transcutaneous Electrical Nerve Stimulation (TENS) Devices

By Application

• Pain Management
• Epilepsy
• Depression
• Parkinson’s Disease
• Others

By End User

• Hospitals
• Clinics
• Homecare Settings
• Research Institutes

By Region

• North America
• Europe
• Latin America
• East Asia
• South Asia and Oceania
• Middle East and Africa