According to FutureWise analysis the market for neurostimulation devices in 2023 is US$ 6.33 billion, and is expected to reach US$ 16.85 billion by 2031 at a CAGR of 13.00%.
Neurostimulation devices are medical devices that use electrical or magnetic stimulation to modulate the activity of the nervous system. These devices are designed to provide therapeutic effects by stimulating specific regions of the nervous system. They are used to treat various neurological and psychiatric disorders, such as chronic pain, Parkinson's disease, epilepsy, depression, and obsessive-compulsive disorder.
There are several types of neurostimulation devices, each of which uses a different method of stimulation. The most widely used one is transcutaneous electrical nerve stimulation (TENS), which delivers electrical stimulation to the nerves through the skin using electrodes. Another type of neurostimulation device is spinal cord stimulation (SCS), which involves implanting electrodes in the epidural space of the spinal cord. The electrodes are connected to a device that generates electrical impulses. Deep brain stimulation (DBS) is another type of neurostimulation device that involves implanting electrodes in specific regions of the brain. The electrodes are connected to a device that generates electrical impulses, which modulate the activity of the brain circuits involved in the targeted disorder. Other types of neurostimulation devices include vagus nerve stimulation (VNS), which involves implanting electrodes on the vagus nerve in the neck, and repetitive transcranial magnetic stimulation (rTMS), which is used to stimulate specific regions of the brain with the help of magnetic fields.
FutureWise Market Research has published a report that provides an insightful analysis of Neurostimulation Devices Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Neurostimulation Devices Market will experience a significant growth.
According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.