Neurostimulation Devices Market Size to Reach USD 23.9 Bn by 2030

Prathamesh

3 weeks ago

The global neurostimulation devices market size is projected to reach around USD 23.9 billion by 2030, growing at a CAGR of 11.57% from 2022 to 2030.

Key Points:

North America neurostimulation devices market size was reached at USD 7.2 billion in 2021.
North America garnered market share of around 61% in 2021 and it is expected to grow at a CAGR of 10.4% from 2022 to 2030.
By product, the germany neurostimulation devices market was valued at USD 148 million in 2021 with a CAGR of 14% over timeframe.
The spinal cord trigger product segment contributed 56% revenue share in 20201.
Based on product, the deep brain stimulator (DBS) segment is expected to grow at a CAGR of 12.8% from 2022 to 2030.
The pain management application segment drove the market in 2021 and represented the greatest income portion of over 69%.

Extension of medical services framework across the developing business sectors, developing reception of novel neurovascular gadgets, and more noteworthy examination in the field of neurovascular treatments are high development possibilities for the neurovascular gadgets/interventional nervous system science market during the conjecture time frame. Similarly, the rising transcendence of neurological issues and lifestyle related wrecks, external financing for R&D, and premium for irrelevantly nosy operations are various components affecting the market advancement.

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Regional Snapshot

North America should be the greatest market during the guess time span. The neurovascular contraptions market in North America is driven primarily by components, for instance, the basic sickness inconvenience, extended number of unimportantly prominent sensory system science methodologies, and continued with expansion of injury/emergency care workplaces in US. The serious informal regulations and a rising in the ordinary number of days expected in the FDA underwriting cycle could hamper the locale’s turn of events.

Asia Pacific should be the fastest creating nearby market from 2022 to 2030. This advancement can be credited to how not many worldwide producers are moving their creation bases around here on account of the presence of disregarded clinical prerequisites and unseen opportunities for growth.

Table of Contents

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Hormone Replacement Therapy Market Scope

Report Coverage	Details
Market Size by 2030	USD 23.9 Billion
Growth Rate from 2022 to 2030	CAGR of 11.57%
North America Market Share in 2021	61%
Spinal Cord Trigger Product Segment Market Share in 2021	56%
Base Year	2021
Forecast Period	2022 to 2030
Segments Covered	Technology, Disease Pathology, Product, Application, End Users, Geography

Hormone Replacement Therapy Market Dynamics

Drivers

Neurosurgeons and clinical experts are progressively taking a gander at remedial options that can really lessen the gamble of casualty or seriousness of neurovascular sicknesses in patients. With a developing number of patients experiencing neurovascular sicknesses, (for example, epilepsy, mind stroke, and cerebral aneurysm) and rising seriousness of ailments (like discharge and nearby diseases) in target patients, the interest for successful neurovascular therapies is consistently ascending across key business sectors like the US, Germany, Japan, China, and India.

Restraints

The significant expense of neurovascular surgeries and gadgets is a main consideration limiting the worldwide neurovascular gadgets market, particularly in emerging nations with unfortunate repayment strategies. The typical expense of standard methodology to treat aneurysm and conduit problems is USD 45,000 to USD 50,000 in the US. Moreover, upkeep costs and other related circuitous costs increment the absolute expense of responsibility for gadgets, consequently restricting their reception.

Opportunities

Ascend sought after for negligibly obtrusive neurosurgical strategies insignificantly intrusive operations offer huge clinical benefits over traditional surgeries, for example, more limited medical clinic stays, quicker understanding recuperation, higher procedural security and viability, and more noteworthy moderateness. Consequently, the market acknowledgment and interest for endoscopic and other insignificantly obtrusive surgeries is developing among clinical experts across the world.

Challenges

A few key neurovascular gadget makers (like Stryker and Medtronic Plc) have been fruitful in the turn of events and resulting commercialization of their separate items during the last 10 years. These items were basically planned for interventional use during neurovascular medical procedures. Be that as it may, across the experienced business sectors (especially in the US), the formative pipeline for interventional nervous system science items is impacted mostly by evaluating pressure looked by the key item makers because of unsupportive government changes embraced over the most recent three years.

Report Highlights

The aneurysm winding and embolization contraptions segment is ordinary record for the greatest piece of the neurovascular devices market during the guess time span. In 2021, owing to creating end-client tendency for unimportantly prominent neurosurgical strategies and extending market availability of embolic circles for neurovascular treatment.
The cerebral aneurysm segment is evaluated to address the greatest piece of the overall interventional sensory system science market, by pathology, in 2021, drove by the creating gathering of unimportantly prominent neurosurgical approach among neurosurgeons.
The spinal rope trigger part dominated the market in 2021 owing to the wide degree of thing application and high market entry of fiscally open things in this segment.
The aggravation the board segment has dominated the market in 2021. The high prevalence of consistent torture issues and growing thing use for torture the board by ethicalness of its high helpful worth are the key components driving the advancement of this section.
Beginning around 2020, crisis centers and cautious centers are surveyed to address the greatest piece of the overall market in 2021, while meandering thought places are projected to enlist the most critical CAGR during the conjecture time frame.

Some of the prominent players

Medtronic PLC
Cyberonics
Boston Scientific Corp.
St. Jude Medical, Inc.
Nevro Corp.
MicroPort Scientific Corporation (China),
Kaneka Corp. (Japan)
Integer Holdings Corporation
BALT (France)
Perflow Medical
Phenox GmbH (Germany)
Sensome (France)

Segments Covered in the Report

By Technology

Aneurysm coiling & embolization devices
- Embolic coils
  - Bare detachable coils
  - Coated detachable coils
- Flow diversion devices
- Liquid embolic agents

Cerebral balloon angioplasty & Stenting systems
- Carotid artery stents
- Embolic protection devices
- Balloon catheters
Support devices
- Microcatheters
- Guidewires
Neurothrombectomy devices
- Clot retrievals
- Suction & aspiration devices
- Snares

By Disease Pathology

Ischemic Strokes
Cerebral Aneuryms
Carotid Artery Stenosis
Arteriovenous Malformations and Fistulas
Other Diseases

By Product

Spinal Cord Stimulator
Deep Brain Stimulator
Sacral Nerve Stimulator
Vagus Nerve Stimulator
Gastric Electric Stimulator

By Application

Pain Management
Epilepsy
Essential Tremor
Urinary and Fecal Incontinence
Depression
Dystonia
Gastroparesis
Parkinson’s Disease
Others

By End Users

Hospitals & Surgical Centers
Ambulatory Care Centers
Research Laboratories & Academic Institutes

By Geography

North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
Asia-Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Philippines
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa