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The Business Research Company’s Peripheral Nerve Stimulators Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034
LONDON, GREATER LONDON, UNITED KINGDOM, February 28, 2025 /EINPresswire.com/ -- Is The Peripheral Nerve Stimulators Market Set To Witness Substantial Growth?
A robust growth has been observed in the peripheral nerve stimulators market size in recent years. The market size is slated to grow from $0.70 billion in 2024 to $0.77 billion in 2025, translating to a compound annual growth rate CAGR of 9.35%. Factors contributing to this growth in the historic period include a growing demand for non-pharmacological pain management solutions, heightened awareness about alternative therapies for pain relief, increasing uptake of minimally invasive procedures, a burgeoning geriatric population, and a steady increase in pain management clinics worldwide.
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Intensive growth is anticipated for the peripheral nerve stimulators market size in the upcoming years. It is projected to reach $1.08 billion by 2029, growing at a compound annual growth rate CAGR of 8.98%. This optimistic growth during the forecast period is attributable to favorable government regulations and initiatives, an increasing inclination towards outpatient and home-based treatments, augmented number of pain management clinics, rising demand for customized PNS devices, and a continuously growing healthcare infrastructure. Major trends for the forecast period include a surge in the development of wireless peripheral nerve stimulators, adoption of mobile apps for remote monitoring of PNS devices, the advent of wearable, non-invasive PNS devices, and the introduction of advanced PNS systems facilitated with AI-powered pain management features.
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What Drives The Peripheral Nerve Stimulators Market Growth?
The escalating prevalence of neurological disorders is anticipated to fuel the growth of the peripheral nerve stimulators market. Neurological disorders encompass medical conditions that affect the brain, spinal cord, or peripheral nerves, resulting in functional, structural, or biochemical abnormalities. Increased prevalence of these disorders can be linked to factors such as aging populations, genetic predispositions, environmental influences, lifestyle choices, and also to greater awareness and diagnosis of these conditions. Here, peripheral nerve stimulators assume a crucial role by providing targeted relief from chronic pain, enhancing motor functions, and promoting nerve revival in affected areas.
Who Are The Key Players In The Peripheral Nerve Stimulators Market?
Prominent companies operating within the peripheral nerve stimulators market include Abbott Laboratories, Medtronic plc, Boston Scientific Corp., Globus Medical Inc., Livanova plc, Nevro Corp., Axonics Modulation Technologies, Saluda Medical Pty Ltd., Stimwave Technologies Incorporated, Nalu Medical Inc., Bioness Inc., SPR Therapeutics Inc., Neuspera Medical Inc., B. Braun Melsungen AG, NeuroMetrix Inc., BioElectronics Corporation, Soterix Medical Inc., Xavant Technology Pty Ltd., Neurostimulation Technologies and STIM Systems.
What Are The Emerging Trends In The Peripheral Nerve Stimulators Market?
Major strides have been made with companies laser-focused on the development of innovative products like ultra-miniaturized systems to enhance patient comfort, improve treatment outcomes, and widen their application ambit across various therapeutic domains. For example, in April 2023, NeuSpera Medical Inc., a U.S.-based manufacturer of implantable medical devices, announced receiving U.S. FDA clearance for its next-generation Neuspera ultra-miniaturized system for chronic peripheral nerve pain management.
How Is The Peripheral Nerve Stimulators Market Segmented?
1 By Product: Transcutaneous, Percutaneous, Implantable
2 By Device: Stimulators, CPNB Catheters, Pain Pumps, Other Devices
3 By Mode of Purchase: Disposable Devices, Rechargeable Devices
4 By Application: Hospitals, Physiotherapy Centers, Ambulatory Surgical Centers, Clinics, Other Applications
Subsegments:
1 By Transcutaneous: TENS Transcutaneous Electrical Nerve Stimulation Units, Surface Electrodes
2 By Percutaneous: Single-Needle Percutaneous Stimulators, Multi-Needle Percutaneous Stimulators, Radiofrequency Percutaneous Stimulators
3 By Implantable: Spinal Cord Stimulators SCS, Peripheral Nerve Stimulation PNS Devices, Neurostimulator Implants
What Is The Regional Analysis Of Peripheral Nerve Stimulators Market?
North America emerged as the largest contributor to the peripheral nerve stimulators market in 2024, while Asia-Pacific is forecasted to be the fastest-growing region. The covered regions in the peripheral nerve stimulators market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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