Global Nerve Stimulator Market by End-users (Hospitals & Clinics, Ambulatory Centres, Specialty Centres, and Others), Device Types (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Gastric Electric Stimulator, Transcranial Magnetic Stimulators, and Others), Applications (Pain Management, Hearing Loss, Urinary Incontinence, Parkinson's Disease, Epilepsy, Depression, Dystonia, and Others), and Regions (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) Forecasts, 2021-2028
The global nerve stimulator market size was valued at USD 4347.2 million and is estimated to reach a value of USD 5837.1 million by the end of 2028, expanding at a CAGR of 4.3% during the forecast period, between 2021 and 2028. Nerve stimulator is a device that is primarily designed to stimulate nerves in those organs that lack regular function and normal activity. This device sends electrical pulses to the nerves in order to stimulate such major organs including spinal cord, brain, and other peripheral parts that result to effective adoption of treatment options. It is also widely used for pain management, by using these low-voltage electrical currents, either by blocking the transmission of pain signals in the body or by increasing the level of endorphins present in the body. Endorphins are natural pain killers released by the body so that it blocks the perception of body pain. Nerve stimulator provides various advantages such as lower pain ratings and little to no side effects as a result of the recent development in medical technology to make devices more reliable, efficient, and safe.
COVID-19 significantly had a positive impact on the market as the devices are adopted for the treatment of patients suffering from depression. Due to movement restriction and prolonged stay at home impacted by the pandemic-related emergency lockdown, the number of people suffering from anxiety and depression are reported to be rising significantly across the globe. As per reports, around 19.4 million adults in the US had at least one depressive episode and the pandemic has worsen the situation in the country as well as globally.
Market Trends, Drivers, Restraints and Opportunities:
- Increase in the development of healthcare services & infrastructures, rise in per capita income, and growing governments’ initiatives for better healthcare facilities are key factors driving the market growth.
- Wide adoption of the products for the treatment of neurological disorders such as Alzheimer's disease, Parkinson's disease, and epilepsy is expected to boost the market growth in the coming years.
- High price of nerve stimulator devices and requirement of high cost for installation of devices are key challenges restricting the market growth. As hospitals in rural and semi-urban areas do not have adequate funds for installation, it hinders the market growth.
- Lack of medical specialists who knows how to operate installation and control of these products is projected to hinder the market growth in the coming years.
Scope of the report:
The report on the global nerve stimulators market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
| Attributes | Details |
| Report Title | Global Nerve Stimulator Market - Industry Analysis, Size, Share, Growth, Trends And Forecast |
| Base Year | 2020 |
| Historic Data | 2018 & 2019 |
| Forecast Period | 2021–2028 |
| Segmentation | End-users (Hospitals & Clinics, Ambulatory Centres, Specialty Centres, and Others), Device Types (Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Gastric Electric Stimulator, Transcranial Magnetic Stimulators, and Others), Applications (Pain Management, Hearing Loss, Urinary Incontinence, Parkinson's Disease, Epilepsy, Depression, Dystonia, and Others) |
| Regional Scope | Asia-Pacific, North America, Europe, Latin America, and Middle East & Africa |
| Report Coverage | Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast |
| Key Players Covered in the Report | Stimwave LLC; NeuroSigma Inc.; NeuroMetrix Inc; Vygon SA; Medline Industries Inc; SUNMED INC; IDS Medical Systems; Boston Scientific Corporation; Medtronic; Medline Industries Inc; Enteromedics; SPR Therapeutics LLC; ElectroCore Inc.; St. Jude Medical; B. Braun Medical Inc.; and Xavant Technology (Pvt) Ltd. |
Nerve Stimulator Market Segment Insights:
Hospitals & clinics segment to hold significant market share in future
Based on end-users, the global nerve stimulator market is segmented into hospitals & clinics, ambulatory centres, specialty centres, and others. The hospitals & clinics segment accounted for more than 35% of the global market share in 2020 and is projected to hold significant market share in the coming years. The segment growth is owing to consumers’ preferences for opting specialised hospitals and clinics for better services and treatment. The urban population basically prefers big and efficient hospitals over small medical centres. Furthermore, the presence of huge diverse staffs, well-skilled, and helpful workforce in hospitals and clinics presents another key factor driving the segment growth.
Increase in demand for spinal cord nerve stimulators is a key driver
In terms of devices types, the market is segregated into spinal cord stimulators, deep brain stimulators, sacral nerve stimulators, vagus nerve stimulators, gastric electric stimulator, transcranial magnetic stimulators, and others. The spinal cord nerve stimulators segment is projected to register a high CAGR during the forecast period due to increase in demand for the products among medical staffs in hospitals and clinics. Additionally, technological advancement in spinal cord stimulation therapy is effective for pain management as it offers several benefits in terms of reducing the pain.
Application of nerve stimulators to aid in depression treatment
Based on applications, the global nerve stimulator market is divided into pain management, hearing loss, urinary incontinence, parkinson's disease, epilepsy, depression, dystonia, and others. The depression segment is projected to represent a large market share of the market during the projected period owing to the prevailing situation of the COVID-19 pandemic that cause the rising cases of depression globally.
North America to dominate the market
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle & East Africa. North America is anticipated to dominate the global market during the projected period due to the large number of geriatric population and increase in the number of patients suffering from neurological disorders especially Alzheimer’s, epilepsy, and dystonia. However, the market of Europe is projected to hold substantial market share during the forecast period due to considerable expending on healthcare by a large number of the population and growing consumer awareness about importance of mental health. Moreover, improved patient management system and new technology are key factors expected to boost the regional market growth.
Segments
Segments Covered in the Report:
By End-users:
- Hospitals & Clinics
- Ambulatory Centres
- Specialty Centres
- Others
By Device Types:
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Gastric Electric Stimulators
- Transcranial Magnetic Stimulators
- Others
By Applications:
- Pain Management
- Hearing Loss
- Urinary Incontinence
- Parkinson's Disease
- Epilepsy
- Depression
- Dystonia
- Others
By Regions:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
By Key Players:
- Stimwave LLC
- NeuroSigma Inc.
- NeuroMetrix Inc
- Vygon SA
- Medline Industries Inc
- SUNMED INC
- IDS Medical Systems
- Boston Scientific Corporation
- Medtronic
- Medline Industries Inc
- Enteromedics
- SPR Therapeutics LLC
- ElectroCore Inc.
- St. Jude Medical
- B. Braun Medical Inc.
- Xavant Technology (Pvt) Ltd
Competitive Landscape
Key players in the global nerve stimulator market are Stimwave LLC; NeuroSigma Inc.; NeuroMetrix Inc; Vygon SA; Medline Industries Inc; SUNMED INC; IDS Medical Systems; Boston Scientific Corporation; Medtronic; Medline Industries Inc; Enteromedics; SPR Therapeutics LLC; ElectroCore Inc.; St. Jude Medical; B. Braun Medical Inc.; and Xavant Technology (Pvt) Ltd. These players are constantly engaged in various business development strategies such as company collaborations, business agreements, mergers & acquisitions, production capacity expansion, new product innovation launches, and partnerships to strengthen their geographical presence and expand their customer base globally.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Nerve Stimulator Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Nerve Stimulator Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Nerve Stimulator Market - Supply Chain
4.5. Global Nerve Stimulator Market Forecast
4.5.1. Nerve Stimulator Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Nerve Stimulator Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Nerve Stimulator Market Absolute $ Opportunity
5. Global Nerve Stimulator Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Nerve Stimulator Market Size and Volume Forecast by Types
5.3.1. Spinal Cord Stimulators
5.3.2. Deep Brain Stimulators
5.3.3. Sacral Nerve Stimulators
5.3.4. Vagus Nerve Stimulators
5.3.5. Gastric Electric Stimulators
5.3.6. Transcranial Magnetic Stimula
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Nerve Stimulator Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Nerve Stimulator Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Nerve Stimulator Demand Share Forecast, 2019-2026
7. North America Nerve Stimulator Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Nerve Stimulator Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Nerve Stimulator Market Size and Volume Forecast by Types
7.4.1. Spinal Cord Stimulators
7.4.2. Deep Brain Stimulators
7.4.3. Sacral Nerve Stimulators
7.4.4. Vagus Nerve Stimulators
7.4.5. Gastric Electric Stimulators
7.4.6. Transcranial Magnetic Stimula
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Nerve Stimulator Demand Share Forecast, 2019-2026
8. Latin America Nerve Stimulator Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Nerve Stimulator Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Nerve Stimulator Market Size and Volume Forecast by Types
8.4.1. Spinal Cord Stimulators
8.4.2. Deep Brain Stimulators
8.4.3. Sacral Nerve Stimulators
8.4.4. Vagus Nerve Stimulators
8.4.5. Gastric Electric Stimulators
8.4.6. Transcranial Magnetic Stimula
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Nerve Stimulator Demand Share Forecast, 2019-2026
9. Europe Nerve Stimulator Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Nerve Stimulator Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Nerve Stimulator Market Size and Volume Forecast by Types
9.4.1. Spinal Cord Stimulators
9.4.2. Deep Brain Stimulators
9.4.3. Sacral Nerve Stimulators
9.4.4. Vagus Nerve Stimulators
9.4.5. Gastric Electric Stimulators
9.4.6. Transcranial Magnetic Stimula
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Nerve Stimulator Demand Share Forecast, 2019-2026
10. Asia Pacific Nerve Stimulator Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Nerve Stimulator Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Nerve Stimulator Market Size and Volume Forecast by Types
10.4.1. Spinal Cord Stimulators
10.4.2. Deep Brain Stimulators
10.4.3. Sacral Nerve Stimulators
10.4.4. Vagus Nerve Stimulators
10.4.5. Gastric Electric Stimulators
10.4.6. Transcranial Magnetic Stimula
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Nerve Stimulator Demand Share Forecast, 2019-2026
11. Middle East & Africa Nerve Stimulator Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Nerve Stimulator Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Nerve Stimulator Market Size and Volume Forecast by Types
11.4.1. Spinal Cord Stimulators
11.4.2. Deep Brain Stimulators
11.4.3. Sacral Nerve Stimulators
11.4.4. Vagus Nerve Stimulators
11.4.5. Gastric Electric Stimulators
11.4.6. Transcranial Magnetic Stimula
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Nerve Stimulator Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Nerve Stimulator Market: Market Share Analysis
12.2. Nerve Stimulator Distributors and Customers
12.3. Nerve Stimulator Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Stimwave LLC
12.4.2. NeuroSigma Inc.
12.4.3. NeuroMetrix Inc
12.4.4. Vygon SA
12.4.5. Medline Industries Inc
12.4.6. SUNMED INC
12.4.7. IDS Medical Systems
12.4.8. Boston Scientific Corporat
Segments Covered in the Report:
By End-users:
- Hospitals & Clinics
- Ambulatory Centres
- Specialty Centres
- Others
By Device Types:
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Gastric Electric Stimulators
- Transcranial Magnetic Stimulators
- Others
By Applications:
- Pain Management
- Hearing Loss
- Urinary Incontinence
- Parkinson's Disease
- Epilepsy
- Depression
- Dystonia
- Others
By Regions:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
By Key Players:
- Stimwave LLC
- NeuroSigma Inc.
- NeuroMetrix Inc
- Vygon SA
- Medline Industries Inc
- SUNMED INC
- IDS Medical Systems
- Boston Scientific Corporation
- Medtronic
- Medline Industries Inc
- Enteromedics
- SPR Therapeutics LLC
- ElectroCore Inc.
- St. Jude Medical
- B. Braun Medical Inc.
- Xavant Technology (Pvt) Ltd
Key players in the global nerve stimulator market are Stimwave LLC; NeuroSigma Inc.; NeuroMetrix Inc; Vygon SA; Medline Industries Inc; SUNMED INC; IDS Medical Systems; Boston Scientific Corporation; Medtronic; Medline Industries Inc; Enteromedics; SPR Therapeutics LLC; ElectroCore Inc.; St. Jude Medical; B. Braun Medical Inc.; and Xavant Technology (Pvt) Ltd. These players are constantly engaged in various business development strategies such as company collaborations, business agreements, mergers & acquisitions, production capacity expansion, new product innovation launches, and partnerships to strengthen their geographical presence and expand their customer base globally.
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