The global Peripheral Neurostimulator System Market size was USD 958.5 Million in 2021 and is expected to register a revenue CAGR of 7.7% during the forecast period, according to latest analysis by Emergen Research. Medical technology developments are to blame for peripheral neurostimulator systems consistent market revenue increase. As an illustration, the Nalu Neurostimulation System’s small size and exceptional capabilities give patients more options for managing unmanageable chronic pain.
Medical technology developments are to blame for peripheral neurostimulator systems consistent market revenue increase. As an illustration, the Nalu Neurostimulation System’s small size and exceptional capabilities give patients more options for managing unmanageable chronic pain. Nalu Neurostimulation might be the long-term cure for chronic pain. Another example is the Proclaim DRG Neurostimulation System, the first and only neurostimulation tool authorised for treating Complex Regional Pain Syndrome (CRPS). Patients benefit from an intuitive therapeutic experience thanks to the proclaimed platform’s iOS software and Bluetooth wireless technologies. Therefore, expanding medical technology developments like these present a catalyst for favourable market revenue growth.
Market Size – USD 958.5 Million in 2021, Market Growth – at a CAGR of 7.7%, Market Trends – Medical technology developments are to blame for peripheral neurostimulator systems consistent market revenue increase.
Another reason driving the market revenue growth of peripheral neurostimulator systems is the increase in neurological diseases cases. For instance, neurological illnesses caused 533,172 fatalities in 2019, of which 320,043 (or 60%) were female and 213,129 (or 40%) were male. Age-standardized mortality rates vary by nation, with Venezuela having the lowest rate (6.6 deaths per 100,000 people) and the United States of America having the highest rate (47.4 deaths per 100,000 people). Therefore, it is anticipated that the global market for peripheral neurostimulator systems will rise significantly along with the rising frequency of neurological illnesses.
The major companies Covered in the report are:
Braun SE, NeuroSigma, Inc., NeuroMetrix, Inc., AVNS, electroCore, Inc., Vygon, Boston Scientific Corporation, Medline Industries, Inc., Stimwave LLC, SunMed
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For the purpose of this report, Emergen Research has segmented the global peripheral neurostimulator system market based on product, end-use, and region:
- Product Outlook (Revenue, USD Million; 2019-2030)
- End-Use Outlook (Revenue, USD Million; 2019-2030)
- Hospitals & Clinics
- Ambulatory Centers
- Specialty Center
- Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America
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Key highlights of this research report:
- The peripheral neurostimulator system market has been divided into hospitals and clinics, ambulatory centres, specialty centres, and others based on end-use. Due to increased patient falls and the accessibility of highly skilled technology teams, the hospitals and clinics segment is anticipated to account for the biggest revenue share during the projection period. Due to the well-established healthcare infrastructure, solid medical reimbursement options for neurostimulation devices in industrialised nations, and high cost of implanted devices, the hospital segment has a sizable market.
- Transcutaneous, percutaneous, and implanted peripheral neurostimulator system markets have been divided based on product. Due to the fact that it is the most common and traditional form of stimulant, the transcutaneous category is anticipated to represent the biggest revenue share during the projection period. For instance, on January 31, 2022, Medtronic received FDA approval for its Vanta recharge-free neurostimulator and Intellis rechargeable neurostimulator for the treatment of chronic pain brought on by diabetic peripheral neuropathy (DPN). Transcutaneous stimulators are therefore more used, which is fueling market revenue growth. This is because the FDA is approving more devices on a regular basis.
- On September 23, 2021, Imec, a global hub for research and development in digital and nanotechnologies, announced a partnership with NeuroGyn AG, a Swiss medical technology company that specialises in surgical and neurostimulation treatments for pelvic nerve disorders. The two companies will work together to create a new generation of implantable peripheral nerve stimulation technology.
- On July 7, 2022, Scilex Holding Company, a business in Sorrento, made an offer to buy Ancora Medical Inc., a privately held provider of medical technology and owner of the FDA-approved Nerve Block Catheter Set. This medicine is recommended for use in the pre-, peri-, and post-operative phases of general and orthopaedic surgical procedures to treat surgical pain.
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The professional intelligence study on the Peripheral Neurostimulator System market addresses some of the most critical questions:
What market size will 2031 be, and what growth rate will it experience?
What are the key trends in the Market?
What are the driving forces behind the Peripheral Neurostimulator System market?
What are the obstacles to market growth?
Which are the top vendors in this space?
What are the threats and opportunities in the market for key vendors?
What are the strengths or weaknesses of critical vendors?
What are the future opportunities for the players in the Peripheral Neurostimulator System market?
What are the main issues facing the global Peripheral Neurostimulator System market?
How does the competitive landscape look?
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