Neurostimulation Devices Market

Neurostimulation Devices Market (2nd Edition), 2018-2035

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In my opinion, deep brain stimulation is amongst the fastest growing segments within this domain. Although its current market is still at an infant stage, it is anticipated to evolve significantly in the coming 5-10 years, given the large number of innovative technologies that are currently under development

-President & CEO, a US-based small-sized device developer

Neurostimulation Devices Market Overview

The global neurostimulation devices market is expected to increase from $3.1 billion to $USD 11 billion by 2030, growing at an annualized rate of 10.9%. The National Academy of Medicine indicates that as many as 100 million people in the US suffer from some form of pain, which has been shown to be associated with a socioeconomic burden of around USD 600 billion per year, in treatment costs and lost productivity. Further, it has been estimated that nearly 1 million people in America suffer from Parkinson’s disease, with approximately 60,000 new patients being diagnosed every year.Over the past few decades, the prevalence of such chronic disorders has grown at an alarming rate. In fact, a recent World Health Organization’s Global Burden of Disease study recognized these chronic conditions as one of the leading causes of deteriorating public health in the world. Such clinical conditions have often been shown to result in serious physical, cognitive and psychosocial consequences in patients.This indicates an urgent need for novel and effective treatment methods as the drawbacks of existing treatment options (such as high risk of addiction / abuse associated with long-term use of oral opioids, and complications due to complex surgical procedures) are substantial.

Extensive research in the field of neurostimulation has demonstrated the potential of this technique in providing therapeutic relief to a number of patients, who have developed resistance to conventional medication. Since the introduction of the first neurostimulation therapy in 1960s, their numerous observed benefits, such as reversible and minimally invasive nature of the procedures (to administer such treatments), targeted approach to therapeutic relief that can be modulated as well, provisions for integrating various safety mechanisms, and negligible use of opioids / other medications, have captured the interest of several stakeholders in the industry. In fact, since 2010, over 4,000 patents have been published in this domain, indicating the rapid pace at which research is being carried out. It is anticipated that such efforts are likely to boost the overall growth of this market in the coming years.

This image highlights the experts opinion and views on neurostimulation devices market The context of neurostimulation devices market report, published by Roots Analysis List of marketed depressive disorder drugs from the research report of Roots Analysis

Recent Developments in Neurostimulation Devices Market:

Several recent developments have taken place in the field of neurostimulation devices. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.

  • In September 2023, PathMaker announced first-in-human trial of neurostimulation device myoregulator in ALS. 
  • In May 2023, FDA announced clearance of Neuspera micro-implant neurostimulation system in order to treat chronic peripheral nerve pain. 
  • In April 2023, Neuspera Medical® announced FDA clearance of its system for peripheral nerve stimulation.

Scope of the Report

The ‘Neurostimulation Devices Market (2nd Edition), 2018-2035’ report features an extensive study of the current landscape and future outlook of the growing market for neurostimulation devices. The focus of this study is on invasive neurostimulation devices, such as devices for spinal cord stimulation (SCS), deep brain stimulation (DBS), spinal nerve stimulation (SNS), vagus nerve stimulation (VNS), other cranial nerve stimulation (Other CNS) and other variants of neurostimulation devices.

List of implantable neurostimulation devices from the research report of Roots Analysis Competitive analysis of neurostimulation devices, from Roots Analysis report This image highlights the grid analysis of neurostimulation devices market

Amongst other elements, the report features:

  • A detailed assessment of the overall landscape of neurostimulation devices market, featuring the contributions of various companies engaged in this domain and highlighting key device specifications (size, weight, battery type, battery life, number of electrodes, type of programming, and MRI compatibility), along with information on different types of neurostimulation devices, target therapeutic areas, and regulatory approvals received across various geographies.
  • A comprehensive product competitiveness analysis, taking into consideration the supplier power and specific device-related parameters, such as number of target indications, target nerves, regulatory approvals, and key device specifications.
  • Comprehensive profiles of developers of leading neurostimulation devices (shortlisted on the basis of the product competitiveness analysis), featuring an overview of the company, its financial information (if available), and a detailed description of the device(s). Each profile also includes a list of recent developments, highlighting the achievements, partnership activity, and the likely strategies that may be adopted by these players to fuel growth in the foreseen future.
  • An elaborate discussion on the regulatory landscape related to medical devices across various geographies, namely North America (the US and Canada), Europe (the UK, Germany, France, Spain and Italy), and Asia-Pacific (Australia, China and Japan). The information covers details on the payer mix, and the reimbursement processes of various public / private organizations across these geographies.
  • A detailed brand positioning analysis of leading industry players (shortlisted on the basis of strength of product portfolio), highlighting the current perceptions regarding their proprietary brands across different device types, taking into consideration several aspects, such as strength / diversity of product portfolio, extent of patent portfolio, recent collaborations, number of target indications and regulatory approvals, and the overall market positioning of the players.
  • An in-depth analysis of the patents that have been published since 2013. The analysis also highlights the key trends associated with these patents, including patent type, regional applicability, CPC classification, IP litigations, emerging areas, leading industry players (in terms of number of patents filed / granted), and patent benchmarking and valuation.
  • A comprehensive clinical trial analysis of completed, ongoing and planned studies of various neurostimulation devices. For the purpose of this analysis, we looked at the clinical studies that have been last updated in 2013, and analyzed them on the basis of various parameters, such as current trial status, regional distribution, leading industry and non-industry players, key indications, and enrolled patient population across different geographies.
  • An analysis of the partnerships that have been established in the recent past, covering product development / commercialization agreements, R&D collaborations, technology licensing deals, distribution agreements, mergers / acquisitions, and others.
  • An analysis of investments made at various stages of product development / commercialization; these include seed financing, venture capital financing, debt financing and grants / awards received by the companies that are operating in this domain.
  • A comprehensive list of non-invasive neurostimulation devices, along with information on their developers, various types of non-invasive technologies used, target therapeutic areas, and development / approval status of the devices.
  • An elaborate discussion on the upcoming opportunities / trends in the field of neurostimulation devices that are likely to impact the evolution of this market over the coming years.

One of the key objectives of the report was to estimate the existing market size and potential growth opportunities for neurostimulation devices. Based on multiple parameters, such as target patient population, likely adoption rates and expected pricing, we have provided an informed estimate on the likely evolution of the market over the period 2018-2035. The report provides sales forecasts for the overall neurostimulation devices market with detailed market segmentation on the basis of type neurostimulation devices (SCS, DBS, VNS, and other types), indication (chronic pain, dystonia, epilepsy, essential tremor, heart failure, major depressive disorder, Parkinson’s disease, obsessive compulsive disorder, overactive bladder, sleep apnea), MRI compatibility (MRI compatible and MRI non-compatible), and the geographical distribution of the market (US, Canada, UK, Germany, France, Spain, Italy, Australia, China, and Japan). In order to account for the uncertainties associated with some of the key parameters and to add robustness to our model, we have provided three market forecast scenarios portraying the conservative, base and optimistic tracks of the industry’s evolution.

This image presents the brand positioning matrix for neurostimulation devices market The current and future market trends of neurostimulation devices market according to Roots Analysis The market segments of neurostimulation devices market based on the research report of Roots Analysis

The opinions and insights presented in this study were also influenced by discussions conducted with several stakeholders in this domain. The report features detailed transcripts of interviews held with the following individuals:

  • Dave Rosa (President and Chief Executive Officer, NeuroOne Medical Technologies)
  • Deborah Schmalz (Vice President, Regulatory Affairs, Clinical Research and Compliance, ReShape Lifesciences) and Diane Utzman-O’Neill (Vice President, Marketing, ReShape Lifesciences)
  • Jan Pieter Heemels (Vice President, Commercial Operations, Mainstay Medical)
  • Laura Tyler Perryman (Chief Executive Officer, Stimwave)
  • Luca Ravagnan (Chief Executive Officer, WISE)
  • Steve Goedeke (President and Chief Executive Officer, Cardionomic)

All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.

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