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Asia Pacific Neurostimulation Devices Market Forecast to 2030
Asia Pacific Neurostimulation Devices Market Forecast to 2030 – Regional Analysis – by Product (Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, and Others), Application (Pain Management, Epilepsy, Urinary and Fecal Incontinence, Parkinson’s Disease, and Others), and End User (Hospitals, Specialty Clinics, and Others)
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Description
Growing Advances and Approvals for Neurostimulation Devices Drive Asia Pacific Neurostimulation Devices Market
Manufacturers are investing a significant amount in developing advanced products and technologies such as implantable neurostimulation devices. Additionally, an increase in Food and Drug Administration (FDA) approvals for novel neurostimulators with new applications are observed in the neurostimulation devices market. Following are a few advances and approvals for the neurostimulation devices, in February 2021, Mainstay Medical developed an implantable restorative neurostimulation system, ReActiv8, to treat intractable chronic low back pain. In March 2021, Abbott launched NeuroSphere, a virtual clinic designed to help deep brain stimulation patients program and reset their devices remotely from the comfort of their own homes. In January 2021, Boston Scientific Corporation released the WaveWriter Alpha, a portfolio of Spinal Cord Stimulator (SCS) systems that combine therapy options for personalized pain relief.
Therefore, the rising number of advances and approvals for neurostimulation devices is expected to provide lucrative opportunities for the neurostimulation devices market during the forecast period.
Asia Pacific Neurostimulation Devices Market Overview
The Asia Pacific neurostimulation devices market is subsegmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The market in Asia Pacific is expected to be the fastest growing among all the regions. The rising awareness regarding neurological disorders among countries such as India, Australia, and South Korea defines the market’s growth in the region. The neurostimulation devices market in Asia Pacific is also expected to grow due to the rising development of the medical device industry in countries such as Japan and China. In addition, innovative technology trends in neurology and the rapid adoption of artificial intelligence (AI) and machine learning (ML) are a few factors that drive the market in the region. Furthermore, supportive government initiatives and research in neurology also boost market growth.
Asia Pacific Neurostimulation Devices Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Neurostimulation Devices Market Segmentation
The Asia Pacific neurostimulation devices market is segmented based on product, application, end user, and country. Based on product, the Asia Pacific neurostimulation devices market is segmented into spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, and others. The spinal cord stimulator segment held the largest market share in 2022.
In terms of application, the Asia Pacific neurostimulation devices market is categorized into pain management, epilepsy, urinary and fecal incontinence, Parkinson’s disease, and others. The pain management segment held the largest market share in 2022.
By end user, the Asia Pacific neurostimulation devices market is segmented into hospitals, specialty clinics, and others. The hospitals segment held the largest market share in 2022.
Based on country, the Asia Pacific neurostimulation devices market is segmented into the UK, China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific neurostimulation devices market share in 2022.
Medtronic Plc, Boston Scientific Corp, Abbott Laboratories, Nevro Corp, LivaNova Plc, and Mainstay Medical are among the leading companies operating in the Asia Pacific neurostimulation devices market.
Summary Info
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According to the Research Team’ research, the Asia Pacific neurostimulation devices market was valued at US$ 1,197.94 million in 2022 and is expected to reach US$ 2,517.30 million by 2030, registering a CAGR of 9.7% from 2022 to 2030. Rising cases of spinal cord injury and growing advances and approvals for neurostimulation devices are among the critical factors attributed to the Asia Pacific neurostimulation devices market expansion.
The neurostimulation devices industry has gained traction owing to the rising elderly population prone to various spinal disorders. These population is becoming more susceptible to developing spinal disorders such as degenerative disc diseases, osteoarthritis, scoliosis, spinal tumor, and spinal stenosis. As this population ages, the natural wear and tear of the spine can lead to several spinal disorders. Hence, with this fact, the aging population poses a unique challenge to spine surgeons due to multiple increased frailty, medical comorbidities, decreased nutritional status, and the higher probability of postoperative complications. According to the World Health Organization (WHO) data published in October 2022, approximately 80% of the elderly population will be living in low-and middle-income countries by 2050, and it is anticipated that the pace of this population aging will be much faster than in the past. The aging demographic, coupled with lifestyle-related factors has led to a substantial increase in individuals experiencing spinal issues such as degenerative disc disease and spinal deformities. Therefore, high incidence of spinal cord injuries in old age and adults stimulates the demand for neurostimulation devices.
On the contrary, lack of expert professionals hampers the growth of Asia Pacific neurostimulation devices market.
Based on product, the Asia Pacific neurostimulation devices market is categorized into spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, and others. The spinal cord stimulator segment held 50.3% market share in 2022, amassing US$ 603.08 million. It is projected to garner US$ 1,320.80 million by 2030 to expand at 10.3% CAGR during 2022-2030.
In terms of application, the Asia Pacific neurostimulation devices market is segmented into pain management, epilepsy, urinary and fecal incontinence, Parkinson’s disease, and others. The pain management segment held 51.9% share of Asia Pacific neurostimulation devices market in 2022, amassing US$ 621.46 million. It is projected to garner US$ 1,366.33 million by 2030 to expand at 10.3% CAGR during 2022-2030.
By end user, the Asia Pacific neurostimulation devices market is categorized into hospitals, specialty clinics, and others. The hospitals segment held 58.6% share of Asia Pacific neurostimulation devices market in 2022, amassing US$ 701.62 million. It is projected to garner US$ 1,498.01 million by 2030 to expand at 9.9% CAGR during 2022-2030.
Based on country, the Asia Pacific neurostimulation devices market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 27.4% share of Asia Pacific neurostimulation devices market in 2022. It was assessed at US$ 328.02 million in 2022 and is likely to hit US$ 711.68 million by 2030, exhibiting a CAGR of 10.2% during 2022-2030.
Key players operating in the Asia Pacific neurostimulation devices market are Medtronic Plc, Boston Scientific Corp, Abbott Laboratories, Nevro Corp, LivaNova Plc, and Mainstay Medical, among others.
In February 2020, LivaNova collaborated with verily to gain new insights into vagus nerve stimulation impact on difficult-to-treat depression.
In May 2023, Abbott Received FDA approval for its spinal cord stimulation systems to treat chronic back pain in people with limited surgical options.
o Highlights key business priorities in order to assist companies to realign their business strategies
o The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific neurostimulation devices market, thereby allowing players across the value chain to develop effective long-term strategies
o Develop modify business expansion plans by using substantial growth offering developed and emerging markets
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific neurostimulation devices market, as well as those hindering it
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Neurostimulation Devices Market – Key Industry Dynamics
4.1 Market Drivers
4.1.1 Increasing Prevalence of Neurological Disorders
4.1.2 Rising Cases of Spinal Cord Injury
4.2 Market Restraints
4.2.1 Lack of Expert Professionals
4.3 Market Opportunities
4.3.1 Growing Advances and Approvals for Neurostimulation Devices
4.4 Future Trends
4.4.1 Rising Demand for Noninvasive Treatment
4.5 Impact Analysis
5. Neurostimulation Devices Market – Asia Pacific Market Analysis
5.1 Asia Pacific Neurostimulation Devices Market Revenue (US$ Mn), 2022 – 2030
6. Asia Pacific Neurostimulation Devices Market – Revenue and Forecast to 2030 – by Product
6.1 Overview
6.2 Asia Pacific Neurostimulation Devices Market Revenue Share, by Product 2022 & 2030 (%)
6.3 Spinal Cord Stimulator
6.3.1 Overview
6.3.2 Spinal Cord Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
6.4 Deep Brain Stimulator
6.4.1 Overview
6.4.2 Deep Brain Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
6.5 Sacral Nerve Stimulator
6.5.1 Overview
6.5.2 Sacral Nerve Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
6.6 Vagus Nerve Stimulator
6.6.1 Overview
6.6.2 Vagus Nerve Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
6.7 Others
6.7.1 Overview
6.7.2 Others: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
7. Asia Pacific Neurostimulation Devices Market – Revenue and Forecast to 2030 – by Application
7.1 Overview
7.2 Asia Pacific Neurostimulation Devices Market Revenue Share, by Application 2022 & 2030 (%)
7.3 Pain Management
7.3.1 Overview
7.3.2 Pain Management: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Epilepsy
7.4.1 Overview
7.4.2 Epilepsy: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Urinary and Fecal Incontinence
7.5.1 Overview
7.5.2 Urinary and Fecal Incontinence: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Parkinson’s Disease
7.6.1 Overview
7.6.2 Parkinson’s Disease: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Neurostimulation Devices Market – Revenue and Forecast to 2030 – by End User
8.1 Overview
8.2 Asia Pacific Neurostimulation Devices Market Revenue Share, by End User 2022 & 2030 (%)
8.3 Hospitals
8.3.1 Overview
8.3.2 Hospitals: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Specialty Clinics
8.4.1 Overview
8.4.2 Specialty Clinics: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Neurostimulation Devices Market – Revenue and Forecast to 2030 – Country Analysis
9.1 Asia Pacific: Neurostimulation Devices Market
9.1.1 Overview
9.1.2 Asia Pacific: Neurostimulation Devices Market, by Country, 2022 & 2030 (%)
9.1.2.1 China: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.2 China: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.2.1 China: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.2.2 China: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.2.3 China: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.3 Japan: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.4 Japan: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.4.1 Japan: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.4.2 Japan: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.4.3 Japan: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.5 India: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.6 India: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.6.1 India: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.6.2 India: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.6.3 India: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.7 Australia: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.8 Australia: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.8.1 Australia: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.8.2 Australia: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.8.3 Australia: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.9 South Korea: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.10 South Korea: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.10.1 South Korea: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.10.2 South Korea: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.10.3 South Korea: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.11 Rest of Asia Pacific: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.12 Rest of Asia Pacific: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.12.1 Rest of Asia Pacific: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.12.2 Rest of Asia Pacific: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.12.3 Rest of Asia Pacific: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
10. Neurostimulation Devices Market-Industry Landscape
10.1 Overview
10.2 Organic Developments
10.2.1 Overview
10.3 Inorganic Developments
10.3.1 Overview
11. Company Profiles
11.1 Medtronic Plc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Boston Scientific Corp
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Abbott Laboratories
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Nevro Corp
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 LivaNova Plc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Mainstay Medical
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
12. Appendix
12.1 About Us
12.2 Glossary of Terms
LIST OF TABLES
Table 1. Neurostimulation Devices Market Segmentation
Table 2. China Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 3. China Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 4. China Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 5. Japan Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 6. Japan Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 7. Japan Neurostimulation Devices Market, by End User- Revenue and Forecast to 2030 (US$ Million)
Table 8. India Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 9. India Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 10. India Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 11. Australia Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 12. Australia Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 13. Australia Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 14. South Korea Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 15. South Korea Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 16. South Korea Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 17. Rest of Asia Pacific Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 18. Rest of Asia Pacific Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 19. Rest of Asia Pacific Neurostimulation Devices Market, by End User- Revenue and Forecast to 2030 (US$ Million)
Table 20. Organic Developments Done by Companies
Table 21. Inorganic Developments Done by Companies
Table 22. Glossary of Terms, Neurostimulation Devices Market
LIST OF FIGURES
Figure 1. Neurostimulation Devices Market Segmentation, By Country
Figure 2. Neurostimulation Devices Market: Key Industry Dynamics
Figure 3. Neurostimulation Devices Market: Impact Analysis of Drivers and Restraints
Figure 4. Asia Pacific Neurostimulation Devices Market Revenue (US$ Mn), 2020 – 2030
Figure 5. Asia Pacific Neurostimulation Devices Market Revenue Share, by Product 2022 & 2030 (%)
Figure 6. Spinal Cord Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Deep Brain Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Sacral Nerve Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Vagus Nerve Stimulator: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Others: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Asia Pacific Neurostimulation Devices Market Revenue Share, by Application 2022 & 2030 (%)
Figure 12. Pain Management: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Epilepsy: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Urinary and Fecal Incontinence: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Parkinson’s Disease: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Others: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Asia Pacific Neurostimulation Devices Market Revenue Share, by End User 2022 & 2030 (%)
Figure 18. Hospitals & Clinics: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Specialty Clinics: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Others: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Asia Pacific: Neurostimulation Devices Market, by Key Country – Revenue (2022) (US$ Million)
Figure 22. Asia Pacific: Neurostimulation Devices Market, by Country, 2022 & 2030 (%)
Figure 23. China: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 24. Japan: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. India: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Australia: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. South Korea: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. Rest of Asia Pacific: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
The List of Companies – Asia Pacific Neurostimulation Devices Market
1. Medtronic Plc
2. Boston Scientific Corp
3. Abbott Laboratories
4. Nevro Corp
5. LivaNova Plc
6. Mainstay Medical
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