Nerve Stimulator Market Size, Industry Trends Report | 2031

Segments - 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, 2023-2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Vishal Golekar

Report Description

Global Nerve Stimulator Market Outlook 2031

The global nerve stimulator market size was valued at USD 4.53 Billion in 2022 and is estimated to reach USD 6.62 Billion by 2031 by the end of 2031, expanding at a CAGR of 4.3% during the forecast period, between 2023 - 2031. 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.

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.

Nerve Stimulator 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 Nerve Stimulators Market 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	Nerve Stimulator Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast
Base Year	2022
Historic Data	2016 - 2021
Forecast Period	2023–2031
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.

Global Nerve Stimulator Market End Users

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.

Global Nerve Stimulator Market Applications

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

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.

Global Nerve Stimulator Market Key Players

Table Of Content

1. Executive Summary
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 (000â€™ 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