Global Implantable Neurostimulators Market by Type (Vagus Nerve Stimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Deep Brain Stimulators) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global implantable neurostimulators market was valued at USD4.6 billion in 2019. It is projected to grow at a compound annual rate (CAGR of 11.7%) between 2020 and 2027. Market growth is expected to be driven by the increasing incidence of chronic disorders such as epilepsy and Parkinson's disease, movement disorders, depression, and other conditions.

Implantable neurostimulators are in high demand due to their growing use for treating chronic neurological conditions and conditions like epilepsy and nociceptive pain. The neurostimulation therapy can be used to treat many disorders of the nervous system. It reduces chronic pain and other symptoms that can be associated with conditions such as Parkinson's and epilepsy. The current implantable neurostimulators are mainly focused on deep brain stimulation and spinal cord stimulation. These devices are surgically implanted into the organs of patients to deliver electrical stimulation to the desired parts of their brain, spinal cord and peripheral nervous systems. This is done to alter nerve cell activity and brain cells. Implantable neurostimulators are recommended for the treatment of conditions or diseases that don't respond to drugs.

According to the WHO, neurological disorders affect millions of people and account for 6.3% of the global disease burden. There are approximately 47.5 million people with dementia worldwide. 7.7 million new cases of dementia are diagnosed each year. Globally, depression and stress are a leading cause for disability. According to the WHO 2020 report, there are more than 264,000,000 people suffering from depression worldwide. Implantable neurostimulators are proving to be a valuable tool in the provision of therapeutic solutions for Parkinson's, epilepsy, and depression. This will drive the market for implantable neural stimulators over the forecast period.

Implantable neurostimulators will see a rise in demand due to improved patient outcomes. These procedures use light electrical currents to stimulate the nerves that are associated with pain signals. This is due to the fact that these procedures are less painful, more cost-efficient, safer, more effective, and faster than traditional ones. The other factors responsible for replacing open/invasive neurosurgeries by minimally invasive ones are the lower incision wounds, which leads to greater patient satisfaction and economic viability due to shorter hospital stays, fewer post-surgical complications, as well as lower mortality. These are all factors that have contributed to the growth of the implantable neurostimulators market.

In recent years, the U.S. has seen an increase in neurological disorders and lifestyle-related conditions. There is also a growing demand for minimally invasive surgery. Implantable neurostimulators are being driven by the rising incidence of disorders like Parkinson's disease and spinal cord injury, as well as migraines, bladder incontinence, and depression. According to the Parkinson's Foundation study, 10.0 million people are living with PD. By 2020, nearly one million Americans will have PD. Each year, approximately 60,000 Americans get diagnosed with PD. According to the Canadian Mental Health Association (CMHA), 1 in 5 Canadians are suffering from some type of mental illness or problem. With the rising number of neurological disorders, demand for implantable nerve stimulators is expected to increase significantly. This will boost the market growth for implantable neurons in the forecast period.

This market will benefit from technological advancements in implantable neural stimulators. These technological advances include robot-assisted implantation, multi-target stimulation and improved microelectrode design. They also include rechargeable implantable pulse generators and personalized programming. Implantable neurostimulators are now more effective, have fewer adverse effects and provide symptomatic relief for patients with neurological disorders. To treat the symptoms of related disorders and to reduce adverse effects, key players continue to incorporate unique technologies into their product lines. The Infinity DBS system from Abbott, for instance, is a new technology that delivers personalized therapy to patients in order to manage their symptoms.

Type Insights

In 2019, 52.5% of the market's implantable neurostimulators revenue came from the spinal cord stimulators segment. This was the highest revenue share at 52.5%. Spinal Cord Stimulators are often used after other medication options fail to provide adequate relief for chronic neuropathic pain. The devices deliver low levels of electricity directly to the spinal cord, relieving pain without any anatomical modifications. The market for implantable neural stimulators is forecast to grow during the forecast period due to increasing use of SCS in failed back surgeries, peripheral neuropathy pain, pain due to low blood supply, complex regional pain syndrome and occipital neurogia.

The highest CAGR is expected to be in the segment of sacral nerve stimulators, which will see 13.0% growth between 2020 and 2027. This is due to an increasing number of overactive bladder patients and increased awareness about treating nervous system disorders. According to the National Association for Continence, over 33.0 millions Americans suffer from some form of bladder condition or urinary incontinence. Women are more affected than men. These stimulators can be used to treat chronic conditions like fecal and urinary incontinence. This will boost the segment growth over the forecast period.

Application Insights

The market for implantable neurostimulators has been dominated by the pain management segment. It accounted for 65.1% of the total revenue in 2019, and is expected to see the highest CAGR at 12.3% between 2020 and 2027. Segment growth is expected to be boosted by the high prevalence of chronic pain disorders like migraine, leg pain, and disk surgery pain. According to the Migraine Foundation 2020, migraine is the third most common neurological condition worldwide, with 1.0 billion people suffering from it globally and 39.0 millions in the U.S. The key driver of segment growth is expected to be the increasing use of pain management products due to their therapeutic benefits.

Implantable neurostimulators will also be in demand due to the rising incidence of Parkinson's disease. According to statistics from Parkinson's U.K., over 145,000 people have Parkinson's disease. This number will rise to 172,000 by 2030 in the U.K. as a result of increasing population and aging. This is likely to drive market development. Several manufacturers are developing advanced products to improve patient care and drive segment growth over the forecast period.

Regional Insights

North America was the dominant market for implantable nerve stimulators in 2019, accounting for 49.2% of the total revenue. Market trends include the development and introduction of new neurostimulators and approvals by regulatory agencies for new techniques in these devices. The market for implantable neural stimulators is expected to grow in North America due to the increasing prevalence of disorders like chronic pain, urinary problems, Parkinson's disease, epilepsy, and favorable reimbursement arrangements in healthcare settings. The market is also being driven by the presence of key players like Abbott, Medtronic and Boston Scientific Corporation. Implantable neurostimulators are being driven by a growing number of lifestyle and neurological disorders, as well as easy access to and availability of advanced therapeutics.

The Asia Pacific market for implantable neurostimulators will experience the highest CAGR at 12.9% between 2020 and 2027. This can be attributed to factors like an increase in neurological disorders and the growing geriatric population. The market growth is also being driven by initiatives from both government and private organizations to increase awareness about mental health. According to the WHO Report 2017, over 86 million South-East Asians were suffering from depressive disorder (depression). The market for implantable neural stimulators is booming because of the increasing number of healthcare reforms, improved healthcare infrastructure, and increased healthcare spending in emerging markets like India and China. This will allow players to grow their businesses. These factors are driving demand for implantable nerve stimulators in the region.

Market Share Insights & Key Companies

To develop innovative products and gain competitive advantages, manufacturers are increasing their focus on R&D. NeuroPace, Inc. was approved by the U.S. FDA to use MRI labeling in its RNS System. This approval will increase the treatment options available for over one million Americans with seizures who do not respond to medication. In the same way, Nevro Corporation also announced in November 2019 that the Senza Omnia Spinal Cord Stimulation System was approved by the U.S. FDA and launched in the U.S. It will deliver HF10 therapy to treat prolonged pain. These developments are expected to increase the market growth for implantable neurostimulators during the forecast period.

Regional expansion mergers, acquisitions and partnerships are common for companies that seek to expand their product range, increase manufacturing capabilities, and offer greater competitive diversity. In May 2019, Abbott entered into an agreement with the National Institutes of Health to participate in the BRAIN initiative (Brain Research through Advancing Innovative Neurotechnologies). The company will offer its neuromodulation technologies, including spinal cord stimulation, directional brain stimulation and dorsal root ganglion treatment, to these NIH initiatives. This partnership will allow them to examine their potential applications in chronic pain and progressive movements disorders like Parkinson's disease and epilepsy. The market leader in implantable neurostimulators is:

• Abbott (St. Jude Medical)

• Medtronic

• Boston Scientific Corporation

• Aleva Neurotherapeutics SA

• Synapse Biomedical, Inc.

• Nevro Corp.

• LivaNova PLC

• NeuroPace, Inc.

Up Market Research published a new report titled “Implantable Neurostimulators Market research report which is segmented by Type (Vagus Nerve Stimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Deep Brain Stimulators), By Players/Companies Nevro Corp, Abbott (St Jude Medical), NeuroPace Inc, Synapse Biomedical Inc, Medtronic, LivaNova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Implantable Neurostimulators Market Report Segments:

The market is segmented by Type (Vagus Nerve Stimulators, Spinal Cord Stimulators, Sacral Nerve Stimulators, Deep Brain Stimulators).

Implantable Neurostimulators Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Implantable Neurostimulators Market

Overview of the regional outlook of the Implantable Neurostimulators Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Implantable Neurostimulators Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Implantable Neurostimulators Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Vagus Nerve Stimulators

                2. Spinal Cord Stimulators

                3. Sacral Nerve Stimulators

                4. Deep Brain Stimulators

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Implantable Neurostimulators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Implantable Neurostimulators Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.