Revolutionizing Lives: Internal Neurostimulation Devices Transform Treatment for Neurological Disorders, Bringing Hope and Relief to Patients Worldwide

Internal neurostimulation devices play a crucial role in the treatment of neurological disorders such as epilepsy, Parkinson's disease, and essential tremor. By modulating neural activity, these devices offer a targeted and effective approach to managing symptoms associated with these conditions. In epilepsy, neurostimulation can help control seizures, enhancing patient safety and well-being. For individuals with Parkinson's, internal neurostimulation devices mitigate motor symptoms, improve mobility, and enhance daily functioning. In cases of essential tremor, these devices provide a means to reduce involuntary shaking, allowing patients to regain greater control over their movements.

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Data Bridge Market Research analyses the Global Internal Neurostimulation Devices Market will grow at a CAGR of 17.4% and USD 22,802.25 million in 2029, which was USD 6,318.77 million in 2021 during the forecast period of 2022 to 2029. The escalating prevalence of chronic conditions such as chronic pain, neurological disorders, and overactive bladder serves as a key driver for the internal neurostimulation devices market.

Key Findings of the Study

Increasing awareness among healthcare professionals and patients is expected to drive the market's growth rate

The increasing awareness among healthcare professionals and patients regarding the advantages of internal neurostimulation therapies is a prominent driver for the market. As knowledge about these devices expand, there is a heightened recognition of their efficacy in managing chronic conditions. This growing awareness instills confidence in healthcare providers and prompts more individuals to consider internal neurostimulation as a viable treatment option. The result is a rise in acceptance and adoption, driving market growth. This trend is particularly crucial as it signifies a shift towards recognizing the potential of internal neurostimulation devices as effective solutions for various medical conditions, contributing to the evolution and expansion of the market.

Report Scope and Market Segmentation

Segment Analysis

The global internal neurostimulation devices market is segmented on the basis of product type, and distribution channel.

• On the basis of product type, the global internal neurostimulation devices market is segmented spinal cord stimulation (SCS), deep brain stimulation, vagus nerve stimulation, sacral nerve stimulation, gastric electric stimulation. The spinal cord stimulation segment is expected to dominate the global internal neurostimulation devices market due to its widespread application in managing chronic pain conditions with a share of 34.80%

The spinal cord stimulation segment of product type segment is expected to dominate the global internal neurostimulation devices market during the forecast period of 2022-2029

Spinal cord stimulation (SCS) is expected to dominate the global internal neurostimulation devices market with the 34.80% market share due to its widespread applicability and efficacy in managing various chronic conditions. SCS is a well-established and proven therapeutic option for alleviating chronic pain, making it a preferred choice for patients suffering from conditions such as neuropathic pain or failed back surgery syndrome. The versatility of SCS in addressing different types of pain disorders contributes to its dominance. Advancements in SCS technology, including products such as the Axonics R20 and Medtronic's Intellis neurostimulator, further enhance its appeal, fostering its continued prominence in the neurostimulation devices market.

• On the basis of distribution channel, the global internal neurostimulation devices market is segmented into direct tender and third party distributor. The direct tender segment is expected to dominate the global internal neurostimulation devices market with a share of 60.40% because it allows manufacturers to establish direct relationships with healthcare institutions and providers, facilitating streamlined communication and efficient supply chain management

The direct tender segment of distribution segment is expected to dominate the global internal neurostimulation devices market during the forecast period of 2022-2029

The direct tender segment of distribution channel segment is expected to dominate in the global internal neurostimulation devices market with 60.40% market share because it allows manufacturers to establish direct relationships with healthcare institutions and providers, facilitating streamlined communication and efficient supply chain management. This direct approach often results in cost efficiencies, as it eliminates intermediary costs associated with third-party service providers.

Major Players

Data Bridge Market Research recognizes the following companies as the major global internal neurostimulation devices market players in global internal neurostimulation devices market are Medtronic (Ireland), LivaNova PLC (U.K.), Abbott (U.S.), ONWARD (U.S.), Sequana Medical NV (Switzerland), CIRTEC (U.S.), Valencia Technologies (U.S.), Nalu Medical, Inc. (U.S.), NEVRO CORP. (U.S.)

Market Developments

• In January 2023, Axonics, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved the Axonics R20 neurostimulator. This upgraded version, succeeding the Axonics R15, specifically addresses chronic conditions such as overactive bladder. Notably, the Axonics R20 boasts an impressive operational life of at least 20 years, marking a notable advancement in the field of neurostimulation
• In July 2022, Abbott received approval from the Food and Drug Administration (FDA) in July 2022 for its Infinity deep brain stimulation system, designed to combat depression. This regulatory milestone sparked a series of initiatives, including heightened pre and post-marketing approval activities. Additionally, the approval marked the incorporation of a new product, the Infinity deep brain stimulation system, into Abbott's diverse product portfolio, signaling a significant expansion in the company's capabilities
• In January 2022, Medtronic secured product approval from the U.S. Food and Drug Administration (FDA) for the Intellis rechargeable neurostimulator. This innovative device represents a spinal cord stimulation therapy specifically designed for addressing chronic pain associated with diabetic peripheral neuropathy. The approval introduced a new product to Medtronic's spinal cord stimulation product category and set the stage for anticipated post-market approval activities within the U.S. market. The Intellis neurostimulator's approval marks a significant stride in providing advanced treatment options for chronic pain conditions

Regional Analysis

Geographically, the countries covered in the global internal neurostimulation devices market report are China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and the Rest of Asia-Pacific, Germany, U.K., Italy, Spain, France, Switzerland, Belgium, Netherlands, Russia, Turkey and the Rest of Europe, South Africa, U.A.E., Egypt, Saudi Arabia, Israel, Rest of the Middle East and Africa, U.S., Canada, Mexico

As per Data Bridge Market Research analysis

North America is the dominant region in the global internal neurostimulation devices market during the forecast period 2022-2029

In North America, the U.S. dominates the internal neurostimulation devices market, which stems from its leadership in research and development (R&D) activities and the burgeoning adoption of advanced non-invasive internal neurostimulation devices. With a robust ecosystem of medical research institutions and innovative healthcare companies, the U.S. consistently invests in R&D, facilitating the creation of cutting-edge technologies. The country's commitment to medical innovation positions it as a frontrunner in developing novel neurostimulation solutions. The emergence of non-invasive internal neurostimulation devices aligns with the growing demand for patient-friendly treatments, and the U.S., with its advanced healthcare infrastructure, is at the forefront of adopting and driving innovations in this field.

Europe is estimated to be the fastest-growing region in the global internal neurostimulation devices market the forecast period 2022-2029

In Europe, Germany is expected to dominate the internal neurostimulation devices market due to its advanced healthcare infrastructure and a substantial increase in revenue associated with these innovative medical devices. The country's superior medical facilities, skilled healthcare workforce, and well-established regulatory framework provide a conducive environment for developing and widespread adoption of internal neurostimulation devices. Germany's commitment to technological advancements in healthcare positions it as a leader. Additionally, the concurrent rise in revenue is driven by a growing awareness and acceptance of neurostimulation therapies among healthcare providers and patients.

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