Neurostimulation Devices Market Size, Share, Growth, Trends, and Global Industry Analysis: By Stimulation System (Spinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation, Percutaneous Electrical Nerve Stimulation (PENS), and Others), By Disease Indication (Pain, Neurological Disorders, Sleep Apnea, Bladder and Bowel dysfunction and Others), By Charging System (Rechargeable and Non-rechargeable), By End-User (Hospitals, Specialty Clinics, and Others) and Region  

Neurostimulation Devices Market size was valued at US$ 5.47 billion in 2023.  It is expected to reach US$ 10.96 billion in 2030, at a CAGR of 11.8% from 2024-2030. For the treatment of chronic pain, movement problems, epilepsy, and Parkinson's disease, neurostimulation devices administer electrical stimulation to specific regions of the patient's brain, spinal cord, or peripheral nervous system. Spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, and cortical stimulators are among the neurostimulation devices. High costs, device malfunctions, and stringent regulatory policies are projected to restrain the growth of the market over the forecast period.

Furthermore, an increase in the incidence and prevalence of pain and neurological disorders is projected to drive the growth of the market. Increases in costs to manage pain conditions are creating a burden on the healthcare system. As per the estimates of the research article published in the Institute of Medicine (IOM) in 2011, the annual healthcare costs due to pain management is at least US$ 560-635 Bn annually in the U.S. In addition, the lack of side effects for the neuromodulation devices are fuelling the growth of the market.

Neurostimulation Devices Market Key Developments

In February 2014, TGA gave hazard alerts to Medtronic's deep brain and spinal cord stimulation systems due to unexpected loss of stimulation and over-stimulation of the devices in Australia.