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Global Peripheral Neurostimulator System Market

Peripheral Neurostimulator System Market Size, Share & Trends Analysis Report By Product (Transcutaneous, Percutaneous, Implantable), By End-Use, By Region, And by Segment Forecasts, 2024-2031

Report ID : 1444 | Published : 2024-05-28 | Pages: 175 | Format: PDF/EXCEL

The Peripheral Neurostimulator System Market Size is valued at USD 997.19 Million in 2023 and is predicted to reach USD 1994.51 Million by the year 2031 at a 9.24 % CAGR during the forecast period for 2024-2031.

Key Industry Insights & Findings from the Report:

  • The advent of Chronic pain conditions such as neuropathic pain, back pain, and migraines affect a significant portion of the world's population
  • The increasing prevalence of chronic pain is driving the demand for effective and sustainable pain management solutions.
  • North America dominated the market and accounted for a revenue share of global revenue in 2023.
  • The initial cost of purchasing and implanting a neurostimulator system is a significant barrier

peripheral Neurostimulator

The growing geriatric population, the invention of innovative products, ratcheting up demand as add-on medication, a complex system for chronic diseases such as migraine and epilepsy, and the availability of highly unmet medical needs in these diseases are some of the major key factors driving the market. Other factors driving market expansion include the increased frequency of neurological illnesses and lifestyle-related disorders, external financing for R&D, and the desire for minimally invasive surgeries.

The most major growth impediment is the product's cost. Although opioid treatment has tremendous advantages, it is still out of reach for the vast majority of the general. Population Furthermore, manufacturers are increasing their R&D investments to develop sophisticated goods and technologies, such as implantable neurostimulation devices, which are projected to drive market growth.

Neurostimulation device implantation is a minimally invasive procedure, and increased demand for such procedures due to shorter hospital stays and speedier recovery is likely to open up new market prospects. The peripheral neurostimulator system has several advantages in opioid treatment. Medical and technical advancements have made this equipment more dependable and efficient, which has been a primary growth driver. There has also been an upsurge in neurological diseases like Alzheimer's, Parkinson's, and epilepsy. The peripheral neurostimulator system must play a more significant role in treating such disorders. As a result, the demand is skyrocketing.

Competitive Landscape

Some major key players in the Peripheral Neurostimulator System Market:

  • Braun SE,
  • mNeuroSigma Inc.,
  • NeuroMetrix Inc.,
  • AVN,
  • SelectroCore Inc.,
  • mVygon,
  • Boston Scientific Corporation,
  • Medline Industries Inc, LLC,
  • SunMed

Market Segmentation:

The peripheral neurostimulator system market is segmented on the product and end-use. Based on product, the market is divided into transcutaneous, percutaneous, and implantable. Based on end-use, the peripheral neurostimulator system market is segmented into hospitals & clinics, ambulatory centers, specialty centers and others.

Based On The Product, The Transcutaneous Segment Is A Major Contributor To The Peripheral Neurostimulator Tor System Market.

The market's leading segment is transcutaneous. The growing prevalence of chronic pain and musculoskeletal injuries, particularly among the elderly, drives demand for transcutaneous nerve stimulation devices. Over the projection period, market participants will benefit from ongoing technological advancements and product innovations such as wearable TENS. All the factors mentioned earlier will contribute to the expansion of the transcutaneous nerve stimulation market soon.

The Hospital Segment Witnessed Growth At A Rapid Rate.

Hospitals are expected to be a very profitable section of the global neurostimulation market. The hospital category has a significant market due to well-established healthcare infrastructure, good medical reimbursement facilities for neurostimulation devices in industrialized nations, and the high cost of implantable devices. The market is estimated to be driven by the increased number of hospitals in developing nations and implantable neurostimulation surgeries.

The North American Peripheral Neurostimulator System Market Holds A Significant Regional Revenue Share.

The North American Peripheral neurostimulator system market is expected to register the highest market share in revenue soon. The region's leading position was fueled by the early acceptance of technologically advanced technologies, new product releases, and a surge in the installation of transcranial magnetic stimulation systems in specialized clinics in the United States and Canada. The increased elderly population in the United States, the high prevalence of neurological illnesses and chronic pain, and high per capita healthcare spending in this region are expected to boost the region's market over the projection period. In addition, Asia Pacific is projected to grow rapidly in the global Peripheral neurostimulator system market. Healthcare businesses are investing in creating tiny external controllers that detect aberrant brain activity. Companies should plan to invest in the Asia Pacific healthcare environment, as the region's market is anticipated to increase in the coming years.

Recent Developments:

  • In Oct 2023, B. Braun Medical Inc. (B. Braun) has declared its increased dedication to tackling health disparities in vascular access and its ongoing commitment to enhancing patients' experiences with peripheral intravenous (IV) therapy at the Association for Vascular Access (AVA) Scientific Meeting. This is being accomplished through a comprehensive strategy that emphasizes education, training, and the improvement of care standards.

Peripheral Neurostimulator System Market Report Scope

Report Attribute

Specifications

Market Size Value In 2022

USD 929.55 Million

Revenue Forecast In 2031

USD 1996.97 Million

Growth Rate CAGR

CAGR of 9.12 % from 2023 to 2031

Quantitative Units

Representation of revenue in US$ Million and CAGR from 2023 to 2031

Historic Year

2019 to 2022

Forecast Year

2023-2031

Report Coverage

The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends

Segments Covered

Product, End-Use

Regional Scope

North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Country Scope

U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia

Competitive Landscape

B. Braun SE, mNeuroSigma Inc., NeuroMetrix Inc., AVN, SelectroCore Inc.,mVygon, Boston Scientific Corporation, Medline Industries Inc, LLC, SunMed

Customization Scope

Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape.

Pricing And Available Payment Methods

Explore pricing alternatives that are customized to your particular study requirements.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Peripheral Vascular Devices Market Snapshot

Chapter 4. Global Peripheral Vascular Devices Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2031

5.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:

5.2.1. Transcutaneous

5.2.2. Percutaneous

5.2.3. Implantable

Chapter 6. Market Segmentation 2: by End-users Estimates & Trend Analysis

6.1. by End-users & Market Share, 2019 & 2031

6.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2031 for the following by End-users:

6.2.1. Hospitals & Clinics

6.2.2. Ambulatory Centers

6.2.3. Specialty Center

6.2.4. Others

Chapter 7. Peripheral Vascular Devices Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

7.1.2. North America Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2024-2031

7.1.3. North America Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.2. Europe

7.2.1. Europe Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

7.2.2. Europe Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2024-2031

7.2.3. Europe Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.3. Asia Pacific

7.3.1. Asia Pacific Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

7.3.2. Asia Pacific Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2024-2031

7.3.3. Asia Pacific Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.4. Latin America

7.4.1. Latin America Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

7.4.2. Latin America Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2024-2031

7.4.3. Latin America Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

7.5. Middle East & Africa

7.5.1. Middle East & Africa Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2024-2031

7.5.2. Middle East & Africa Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by End-users, 2024-2031

7.5.3. Middle East & Africa Peripheral Vascular Devices Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. B. Braun SE

8.2.2. NeuroSigma Inc.

8.2.3. NeuroMetrix Inc.

8.2.4. AVN

8.2.5. SelectroCore Inc.

8.2.6. Vygon

8.2.7. Boston Scientific Corporation

8.2.8. Medline Industries Inc.

8.2.9. Stimwave LLC

8.2.10. SunMed

8.2.11. Other Prominent Players

 

Segmentation Of Peripheral Neurostimulator System Market

By Product

  • Transcutaneous
  • Percutaneous
  • Implantable

peripheral Neurostimulator

By End Use

  • Hospitals & Clinics
  • Ambulatory Centers
  • Specialty Center
  • Others

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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Frequently Asked Questions

How big is the Peripheral Neurostimulator System Market Size?

The Peripheral Neurostimulator System Market is expected to grow at a 9.24 % CAGR during the forecast period for 2024-2031.

B. Braun SE, mNeuroSigma Inc., NeuroMetrix Inc., AVN, SelectroCore Inc.,mVygon, Boston Scientific Corporation, Medline Industries Inc, LLC, SunMed

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