North America Neurostimulation Devices Market Forecast to 2030

North America Neurostimulation Devices Market Forecast to 2030

North America 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

The North America neurostimulation devices market was valued at US$ 2,422.64 million in 2022 and is expected to reach US$ 5,000.80 million by 2030; it is estimated to register a CAGR of 9.5% from 2022 to 2030.

Increasing Prevalence of Neurological Disorders Fuels North America Neurostimulation Devices Market

Geriatric population is susceptible to neurological diseases. Common neurological disorders affecting older people are neuropathy, Parkinson’s disease, Alzheimer’s disease, dystonia, and others. As per the National Institutes of Health (NIH), 8.5% of the world’s population (i.e., around 617 million people) is aged 65 years and above. Countries such as the US and Canada have high prevalence rates of movement disorders and psychiatric disorders associated with growing geriatric populations. According to the Parkinson’s Foundation, Parkinson’s symptoms are common at an average age of 60. The Canadian Psychological Association states that obsessive-compulsive disorder (OCD) affects about 2% of the population in Canada. The World Health Organization (WHO) states that epilepsy is a seizure-causing neurological disorder that affects 50 million people worldwide. As per the American Academy of Neurology, stroke is the third leading cause of death in the US, followed by Alzheimer’s as the sixth leading cause of death. Statistics from the same source show that nearly one million Americans are affected by Parkinson’s, and at least 60,000 new cases are reported annually. The growing incidence of neurological diseases coupled with lifestyle-related disorders such as depression and chronic pain leads to the increasing adoption of technologically advanced products. According to the WHO, nervous disorders contribute to 6.3% of the global disease burden. Also, according to the same source, the disorders are one of the leading causes of deaths across the world. They cause 13.2% of deaths in developed countries and 16.8% in low- and middle-income countries. High mortality and disease burden necessitate the clinical urgency for integrating long-term solutions. Furthermore, growing awareness regarding the tremendous burden of neurological disorders has increased the demand for neurostimulators as a therapy. Therefore, the growing geriatric population prone to neurological diseases, increasing prevalence of the diseases, and rising awareness regarding the tremendous burden of neurological disorders drive the neurostimulation devices market growth.

North America Neurostimulation Devices Market Overview

The North America neurostimulation devices market is segmented into the US, Canada, and Mexico. North America is expected to hold a significant share of the global neurostimulation devices market owing to the growing prevalence of neurological diseases, high spending on research and development, product approvals by the US Food and Drug Administration (FDA), and technological advances. The rising geriatric population prone to neurological diseases is expected to offer lucrative opportunities for market growth in the region during the forecast period. Further, the growing support from the government to address the rising concerns about brain diseases is expected to boost market growth in the region. In the US, the incidence of neurovascular diseases is rising significantly, and it is among the leading causes of death across the country. Rising incidence of neurological diseases such as Parkinson’s disease (PD), increasing awareness about neurological disorders, and growing investments in developing transcranial stimulators are among the main factors driving the overall neurostimulation devices market in the US. Deep brain stimulation (DBS) devices have been observed to control the tremors associated with Parkinson’s disease effectively. Low dopamine readings and other genetic factors are among the main causes of Parkinson’s disease.

North America Neurostimulation Devices Market Revenue and Forecast to 2030 (US$ Million)

North America Neurostimulation Devices Market Segmentation

The North America neurostimulation devices market is segmented based on product, application, end user, and country.

Based on product, the North America 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 North America 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 North America 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 North America neurostimulation devices market is segmented into the US, Canada, and Mexico. The US dominated the North America neurostimulation devices market share in 2022.

Medtronic Plc, Boston Scientific Corp, Abbott Laboratories, Nevro Corp, LivaNova Plc, Synapse Biomedical Inc, Nalu Medical Inc, ElectroCore Inc, MicroTransponder Inc, and Mainstay Medical are some of the leading companies operating in the North America neurostimulation devices market.

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At 9.5% CAGR, North America Neurostimulation Devices Systems Market is Speculated to be Worth US$ 5,000.80 Million by 2030, says the Research Team

According to the Research Team’ research, the North America neurostimulation devices market was valued at US$ 2,422.64 million in 2022 and is expected to reach US$ 5,000.80 million by 2030, registering a CAGR of 9.5% from 2022 to 2030. Rising demand for noninvasive treatment sector and increasing prevalence of neurological disorders are among the critical factors attributed to the North America neurostimulation devices market expansion.

Neurostimulation is a rapidly evolving field that uses targeted electrical, mechanical, magnetic, or thermal stimulation of the nervous system to alter the properties of firing neuronal and internal neuronal connectivity to treat various neurological disorders. Noninvasive neurostimulation devices include electroconvulsive therapy (ECT), transcutaneous electrical nerve stimulation (TENS), transcranial electrical stimulation (TES), transcranial direct current stimulation (tDCS), transcranial alternating current stimulation (tACS), static magnetic stimulation, random sound stimulation, peripheral nerve stimulation, ultrasound, and focused ultrasound (FUS), including cranial nerve stimulation. Noninvasive neurostimulation techniques are the most developed in psychiatry. Patients and healthcare providers increasingly prefer noninvasive or minimally invasive treatment options as they are convenient, painless, safe, and have minimal side effects. In addition, it is widely used in neurological diseases. Noninvasive treatments aim to improve the quality of life and reduce the impact of speech, swallowing, and cognitive problems. Therefore, growing demand for noninvasive treatments would significantly fuel the neurostimulation devices market growth in the future.

On the contrary, lack of expert professionals hampers the growth of North America neurostimulation devices market.

Based on product, the North America 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 50.5% market share in 2022, amassing US$ 1,222.46 million. It is projected to garner US$ 2,625.07 million by 2030 to expand at 10.0% CAGR during 2022-2030.

In terms of application, the North America neurostimulation devices market is categorized into pain management, epilepsy, urinary and fecal incontinence, Parkinson’s disease, and others. The pain management segment held 51.9% share of North America neurostimulation devices market in 2022, amassing US$ 1,258.42 million. It is projected to garner US$ 2,715.64 million by 2030 to expand at 10.1% CAGR during 2022-2030.

By end user, the North America neurostimulation devices market is segmented into hospitals, specialty clinics, and others. The hospitals segment held 58.5% share of North America neurostimulation devices market in 2022, amassing US$ 1,418.10 million. It is projected to garner US$ 2,969.30 million by 2030 to expand at 9.7% CAGR during 2022-2030.

Based on country, the North America neurostimulation devices market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.4% share of North America neurostimulation devices market in 2022. It was assessed at US$ 2,020.48 million in 2022 and is likely to hit US$ 4,212.96 million by 2030, exhibiting a CAGR of 9.6% during 2022-2030.

Key players operating in the North America neurostimulation devices market are Medtronic Plc, Boston Scientific Corp, Abbott Laboratories, Nevro Corp, LivaNova Plc, Synapse Biomedical Inc, Nalu Medical Inc, ElectroCore Inc, MicroTransponder Inc, and Mainstay Medical, among others.

In August 2023, Medtronic received CE Mark approval for an Inceptiv spinal cord stimulator with closed-loop sensing to treat chronic pain.

In August 2023, FDA approved Abbott’s new spinal cord stimulation device provides tailored relief to multiple pain areas and adds more treatment options for evolving pain condition.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America neurostimulation devices market.
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 North America 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 North America market trends and outlook coupled with the factors driving the North America 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. Introduction
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. North America 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 – North America Market Analysis
5.1 North America Neurostimulation Devices Market Revenue (US$ Mn), 2022 – 2030
6. North America Neurostimulation Devices Market – Revenue and Forecast to 2030 – by Product
6.1 Overview
6.2 North America 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. North America Neurostimulation Devices Market – Revenue and Forecast to 2030 – by Application
7.1 Overview
7.2 North America 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. North America Neurostimulation Devices Market – Revenue and Forecast to 2030 – by End User
8.1 Overview
8.2 North America 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. North America Neurostimulation Devices Market – Revenue and Forecast to 2030 – Country Analysis
9.1 North America: Neurostimulation Devices Market
9.1.1 Overview
9.1.2 North America: Neurostimulation Devices Market, by Country, 2022 & 2030 (%)
9.1.2.1 US: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.2 US: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.2.1 US: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.2.2 US: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.2.3 US: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.3 Canada: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.4 Canada: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.4.1 Canada: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.4.2 Canada: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.4.3 Canada: Neurostimulation Devices Market, by End User, 2020-2030 (US$ Million)
9.1.2.5 Mexico: Neurostimulation Devices Market – Revenue and Forecast to 2030 (USD Million)
9.1.2.6 Mexico: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
9.1.2.6.1 Mexico: Neurostimulation Devices Market, by Product, 2020-2030 (US$ Million)
9.1.2.6.2 Mexico: Neurostimulation Devices Market, by Application, 2020-2030 (US$ Million)
9.1.2.6.3 Mexico: 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 Synapse Biomedical Inc.
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
11.7 Nalu Medical, Inc
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 ElectroCore Inc
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 MicroTransponder Inc.
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Mainstay Medical
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About Us
12.2 Glossary of Terms

LIST OF TABLES

Table 1. Neurostimulation Devices Market Segmentation
Table 2. US Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 3. US Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 4. US Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 5. Canada Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 6. Canada Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 7. Canada Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 8. Mexico Neurostimulation Devices Market, by Product – Revenue and Forecast to 2030 (US$ Million)
Table 9. Mexico Neurostimulation Devices Market, by Application – Revenue and Forecast to 2030 (US$ Million)
Table 10. Mexico Neurostimulation Devices Market, by End User – Revenue and Forecast to 2030 (US$ Million)
Table 11. Organic Developments Done by Companies
Table 12. Inorganic Developments Done by Companies
Table 13. 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. North America Neurostimulation Devices Market Revenue (US$ Mn), 2020 – 2030
Figure 5. North America 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. North America 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. North America 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. North America: Neurostimulation Devices Market, by Key Country – Revenue (2022) (US$ Million)
Figure 22. North America: Neurostimulation Devices Market, by Country, 2022 & 2030 (%)
Figure 23. US: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 24. Canada: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Mexico: Neurostimulation Devices Market – Revenue and Forecast to 2030 (US$ Million)

The List of Companies – North America Neurostimulation Devices Market

1. Medtronic Plc
2. Boston Scientific Corp
3. Abbott Laboratories
4. Nevro Corp
5. LivaNova Plc
6. Synapse Biomedical Inc
7. Nalu Medical, Inc
8. ElectroCore Inc
9. MicroTransponder Inc
10. Mainstay Medical

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