Peripheral Nerve Stimulators Market Analysis

ID: MRFR/HC/6584-CR

112 Pages

Rahul Gotadki

June 2023

Peripheral Nerve Stimulator Market Research Report Information By Product (Transcutaneous, Percutaneous, and Implantable) by Device Type (Stimulators, CPNB Catheters, Pain Pumps, and Others) By Stimulating Feature (Stimulator Machines with Train of Four (TOF) Monitoring Features and Machines without TOF Features) by End User (Hospital & Clinics, Ambulatory Surgery Centers, and Others), by Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2035

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Market Analysis

In-depth Analysis of Peripheral Nerve Stimulators Market Industry Landscape

The Peripheral Nerve Stimulators market is unveiling an innovative wireless device, representing a significant leap forward in the field. Unlike traditional devices, these wireless Peripheral Nerve Stimulators can transmit signals to the implanted electrode without the need for cumbersome wires. What sets these wireless devices apart is their elimination of the necessity for large batteries to be implanted in the body. This design enables physicians to monitor and manage the devices remotely, marking a notable advancement in the field of medical technology.

The adoption of wireless Peripheral Nerve Stimulators comes with a range of benefits that are poised to reshape the landscape of pain management. One of the primary advantages is the potential for shorter hospital stays. Traditional stimulators often require a significant recovery period due to the invasive nature of the procedures and the implantation of bulky internal batteries. In contrast, wireless devices reduce the need for extensive surgery, leading to quicker recovery times and shorter hospital stays for patients.

Moreover, the wireless nature of these Peripheral Nerve Stimulators diminishes the requirement for extensive anesthesia. Traditional procedures involving the implantation of wired stimulators can necessitate higher levels of anesthesia, contributing to increased risks and prolonged recovery. Wireless devices offer a more streamlined approach, minimizing the need for extensive anesthesia and promoting a safer and more comfortable experience for patients.

An additional advantage of wireless Peripheral Nerve Stimulators lies in the reduction of healthcare costs. The elimination of the need for internal batteries and the associated surgical procedures translates to a more cost-effective solution for patients and healthcare providers. The absence of invasive battery implantation procedures reduces the overall expenses related to surgery and post-operative care, making the wireless devices a financially viable option for both patients and the healthcare system.

The convenience and efficiency brought by wireless Peripheral Nerve Stimulators extend beyond reduced hospital stays, lower anesthesia requirements, and decreased healthcare costs. The remote monitoring and programming capabilities of these devices offer a level of control and adaptability that enhances patient care. Physicians can adjust and optimize the stimulator settings without the need for frequent in-person visits, providing a more patient-centric and flexible approach to pain management.

As a result, the demand for wireless Peripheral Nerve Stimulators is expected to experience substantial growth in the foreseeable future. The transformative advantages offered by these devices align with the evolving needs of patients and healthcare providers, driving the market toward a new era of pain management technology. The wireless approach not only enhances patient comfort and safety but also represents a paradigm shift in the way Peripheral Nerve Stimulators are utilized, positioning them as a pivotal component in the future of medical technology.

Market Highlights

Author

Rahul Gotadki

Assistant Manager

He holds an experience of about 7+ years in Market Research and Business Consulting, working under the spectrum of Life Sciences and Healthcare domains. Rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. His expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. In addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives

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FAQs

What is the projected market valuation for Global Peripheral Nerve Stimulators by 2035?

The projected market valuation for Global Peripheral Nerve Stimulators is expected to reach 1.037 USD Billion by 2035.

What was the market valuation for Global Peripheral Nerve Stimulators in 2024?

The overall market valuation for Global Peripheral Nerve Stimulators was 0.61 USD Billion in 2024.

What is the expected CAGR for The Global Peripheral Nerve Stimulators from 2025 to 2035?

The expected CAGR for The Global Peripheral Nerve Stimulators during the forecast period 2025 - 2035 is 4.94%.

Which companies are considered key players in The Global Peripheral Nerve Stimulators?

Key players in The Global Peripheral Nerve Stimulators include Medtronic, Boston Scientific, Abbott, and Nevro Corporation.

What are the projected valuations for the Transcutaneous segment of Global Peripheral Nerve Stimulators?

The projected valuations for the Transcutaneous segment are expected to range from 0.2 to 0.35 USD Billion.

How do the valuations for Implantable Peripheral Nerve Stimulators compare to other product segments?

The valuations for Implantable Peripheral Nerve Stimulators are projected between 0.26 and 0.37 USD Billion, indicating a competitive position among product segments.

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Market Summary

As per MRFR analysis, The Global Peripheral Nerve Stimulators Market Size was estimated at 0.61 USD Billion in 2024. The Global Peripheral Nerve Stimulators industry is projected to grow from 0.6401 in 2025 to 1.037 by 2035, exhibiting a compound annual growth rate (CAGR) of 4.94 during the forecast period 2025 - 2035.

Key Market Trends & Highlights

The Global Peripheral Nerve Stimulators Market is poised for substantial growth driven by technological advancements and increasing awareness of pain management options.

North America remains the largest market for peripheral nerve stimulators, driven by advanced healthcare infrastructure and high adoption rates.
The Asia-Pacific region is emerging as the fastest-growing market, fueled by rising healthcare investments and increasing patient populations.
Transcutaneous stimulators dominate the market, while percutaneous stimulators are experiencing rapid growth due to their minimally invasive nature.
Key market drivers include technological advancements in peripheral nerve stimulators and growing awareness of neuromodulation therapies.

Peripheral Nerve Stimulators Market

CAGR

4.94%

Market Size & Forecast

2024 Market Size	0.61 (USD Billion)
2035 Market Size	1.037 (USD Billion)
CAGR (2025 - 2035)	4.94%
Largest Regional Market Share in 2024	North America

Major Players

Medtronic (US), Boston Scientific (US), Abbott (US), Nevro Corporation (US), Stimwave Technologies (US), Nuvectra Corporation (US), Halyard Health (US), Stryker Corporation (US), Civitas Solutions (US)

Market Trends

The Global Peripheral Nerve Stimulators Market is currently experiencing a notable evolution, driven by advancements in technology and an increasing understanding of pain management. These devices, which are designed to deliver electrical impulses to peripheral nerves, are gaining traction due to their non-invasive nature and effectiveness in treating various chronic pain conditions. As healthcare providers seek alternatives to traditional pain relief methods, the demand for these stimulators appears to be on the rise. Furthermore, the growing prevalence of neurological disorders and the aging population are likely to contribute to market expansion, as more individuals seek innovative solutions for pain management. In addition to technological advancements, regulatory support is also shaping the landscape of The Global Peripheral Nerve Stimulators Market. Governments and health organizations are increasingly recognizing the potential benefits of these devices, leading to streamlined approval processes and increased funding for research and development. This supportive environment may encourage more companies to enter the market, fostering competition and innovation. As the industry evolves, it seems plausible that new applications for peripheral nerve stimulation will emerge, further enhancing the appeal of these devices in the healthcare sector.

Technological Advancements

Recent innovations in design and functionality are enhancing the efficacy of Global Peripheral Nerve Stimulators Market. These advancements may lead to improved patient outcomes and increased adoption rates.

Regulatory Support

The evolving regulatory landscape is facilitating quicker approvals for new devices, which could encourage more manufacturers to invest in The Global Peripheral Nerve Stimulators Market.

Growing Awareness of Pain Management Options

As healthcare professionals and patients become more informed about alternative pain relief methods, the interest in Global Peripheral Nerve Stimulators Market is likely to increase, potentially expanding their market presence.

Peripheral Nerve Stimulators Market Market Drivers

Regulatory Support and Approvals

The Global Peripheral Nerve Stimulators Market benefits from a favorable regulatory environment that facilitates the approval and commercialization of new devices. benefits from a favorable regulatory environment that facilitates the approval and commercialization of new devices. Regulatory bodies are increasingly recognizing the importance of these stimulators in pain management and neurological disorders. For example, recent approvals for novel devices have streamlined the pathway for market entry, encouraging innovation and investment in this sector. The presence of clear guidelines and supportive policies from regulatory agencies can significantly reduce the time and cost associated with bringing new products to market. This regulatory support is likely to foster competition and drive growth within the industry, as more companies seek to develop and introduce cutting-edge solutions.

Rising Investment in Healthcare Infrastructure

The Global Peripheral Nerve Stimulators Market is likely to benefit from increased investment in healthcare infrastructure across various regions. is likely to benefit from increased investment in healthcare infrastructure across various regions. Governments and private entities are recognizing the need to enhance healthcare delivery systems, particularly in pain management and neurological care. This investment is expected to improve access to advanced medical technologies, including peripheral nerve stimulators, in both urban and rural settings. Enhanced healthcare infrastructure can facilitate better training for healthcare providers, ensuring they are equipped to utilize these devices effectively. As access to these technologies improves, the market for peripheral nerve stimulators is anticipated to expand, ultimately benefiting patients in need of innovative pain management solutions.

Increasing Incidence of Chronic Pain Conditions

The Global Peripheral Nerve Stimulators Market is poised for growth due to the rising prevalence of chronic pain conditions worldwide. is poised for growth due to the rising prevalence of chronic pain conditions worldwide. Conditions such as neuropathic pain, fibromyalgia, and arthritis are becoming more common, leading to a greater demand for effective pain management solutions. According to recent estimates, chronic pain affects approximately 20% of the global population, creating a substantial market for peripheral nerve stimulators. As healthcare providers seek to offer alternative therapies to opioids, the adoption of nerve stimulators is likely to increase. This trend not only highlights the need for innovative pain management solutions but also positions the industry favorably in addressing a critical healthcare challenge.

Technological Advancements in Peripheral Nerve Stimulators

The Global Peripheral Nerve Stimulators Market is experiencing a surge in technological advancements that enhance the efficacy and usability of these devices. is experiencing a surge in technological advancements that enhance the efficacy and usability of these devices. Innovations such as miniaturization, wireless connectivity, and improved battery life are making these stimulators more accessible and user-friendly. For instance, the integration of smartphone applications allows patients to control their devices remotely, potentially increasing adherence to treatment protocols. Furthermore, advancements in neurostimulation techniques, such as closed-loop systems, are being developed to provide real-time feedback and adjust stimulation parameters automatically. This evolution in technology not only improves patient outcomes but also expands the market reach, as more healthcare providers recognize the benefits of these advanced devices.

Growing Awareness and Acceptance of Neuromodulation Therapies

The Global Peripheral Nerve Stimulators Market is witnessing a shift in patient and provider attitudes towards neuromodulation therapies. is witnessing a shift in patient and provider attitudes towards neuromodulation therapies. Increased awareness of the benefits of these devices, including their non-invasive nature and potential to reduce reliance on pharmaceuticals, is driving acceptance among both patients and healthcare professionals. Educational initiatives and outreach programs are playing a crucial role in informing stakeholders about the advantages of peripheral nerve stimulation. As more patients seek alternatives to traditional pain management methods, the demand for these devices is expected to rise. This growing acceptance may lead to expanded market opportunities and encourage further research and development in the field.

Market Segment Insights

Peripheral Nerve Stimulators Market Segment Insights

Peripheral Nerve Stimulators Market Product Insights

The Global Peripheral Nerve Stimulators Market segmentation, based on products, includes transcutaneous, percutaneous, and implantable. Transcutaneous peripheral nerve stimulators (TPNS) accounted for the largest market during the forecast period. The TPNS devices provide non-invasive therapeutics without any side effects. This is primarily used to treat arthritis, back and neck pain, fibromyalgia, muscle pain, and neuropathic pain. The increasing incidences of these above-mentioned diseases are increasing the demand for TPNS stimulators, driving the segment's growth.

Moreover, percutaneous peripheral nerve stimulation (PNS) segment growth is driving owing to the high demand for the treatment of neuropathic pain. As per the Mayo Foundation for Medical Education and Research (MFMER), there is approximately a 50% chance of having diabetic neuropathy in diabetic patients, thus, increasing diabetes prevalence may increase the demand of PNS

Therefore, the increasing prevalence of musculoskeletal diseases and diabetic diseases that may lead to nerve damage, as well as favorable government support in approving implantable devices, are driving the product segment's growth.

Figure 2: Global Peripheral Nerve Stimulators Market, by Product, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Peripheral Nerve Stimulators Market Device Type Insights

The Global Peripheral Nerve Stimulators Market segmentation, based on device type, includes stimulators, continuous peripheral nerve blocks (CPNB) catheters, and pain pumps. The pain pump segment held the largest market in 2022 and is also the fastest growing segment during the forecast period. A pain pump is attached to the catheter and delivers medication to a specific point. The pain pump is mostly used for multiple sclerosis and cerebral palsy.

Get more detailed insights about Peripheral Nerve Stimulators Market Research Report - Global Forecast till 2035

Regional Insights

North America : Market Leader in Innovation

North America is the largest market for peripheral nerve stimulators, accounting for approximately 45% of the global market share. The region's growth is driven by increasing prevalence of chronic pain conditions, advancements in medical technology, and supportive regulatory frameworks. The demand for minimally invasive procedures is also rising, further propelling market growth. Regulatory bodies like the FDA have streamlined approval processes, enhancing market accessibility. The United States is the leading country in this region, hosting major players such as Medtronic, Boston Scientific, and Abbott. The competitive landscape is characterized by continuous innovation and strategic partnerships among key players. The presence of advanced healthcare infrastructure and a high rate of adoption of new technologies contribute to the region's dominance. Additionally, ongoing clinical trials and research initiatives are expected to further enhance market growth.

Europe : Emerging Market with Potential

Europe is witnessing significant growth in the peripheral nerve stimulators market, holding approximately 30% of the global share. The region's expansion is fueled by an increasing aging population, rising awareness of pain management solutions, and favorable reimbursement policies. Countries like Germany and France are leading the market, supported by robust healthcare systems and regulatory frameworks that encourage innovation in medical devices. Germany stands out as the largest market in Europe, with a strong presence of key players such as Nevro Corporation and Stryker. The competitive landscape is evolving, with new entrants and established companies focusing on product development and strategic collaborations. The European Medicines Agency (EMA) has been instrumental in ensuring the safety and efficacy of medical devices, thereby fostering market growth. This regulatory support is crucial for the introduction of innovative solutions in pain management.

Asia-Pacific : Rapidly Growing Market

Asia-Pacific is emerging as a rapidly growing market for peripheral nerve stimulators, accounting for approximately 20% of the global market share. The region's growth is driven by increasing healthcare expenditure, rising prevalence of neurological disorders, and a growing focus on advanced pain management solutions. Countries like China and India are witnessing a surge in demand due to their large patient populations and improving healthcare infrastructure. China is the largest market in the region, with significant investments in healthcare technology and a rising number of clinical trials. The competitive landscape is becoming more dynamic, with both local and international players striving to capture market share. Key companies are focusing on product innovation and strategic partnerships to enhance their market presence. The region's regulatory bodies are also becoming more supportive, facilitating the entry of new technologies into the market.

Middle East and Africa : Untapped Market Potential

The Middle East and Africa represent an untapped market for peripheral nerve stimulators, holding approximately 5% of the global market share. The region's growth is driven by increasing healthcare investments, rising awareness of chronic pain management, and a growing number of healthcare facilities. Countries like South Africa and the UAE are leading the way, with initiatives aimed at improving healthcare access and quality. South Africa is the largest market in this region, with a focus on enhancing healthcare infrastructure and increasing the availability of advanced medical technologies. The competitive landscape is still developing, with opportunities for both local and international players to enter the market. Regulatory bodies are gradually improving their frameworks to support the introduction of innovative medical devices, which is expected to drive market growth in the coming years.

Key Players and Competitive Insights

The global peripheral nerve stimulators market is distinguished by the presence of numerous global, regional, and local players catering to the peripheral nerve stimulators techniques that are evolving at a rapid pace. Furthermore, the increasing demand for peripheral nerve stimulators is further driving the growth of global peripheral nerve stimulators market during the forecast period. The major players have adopted a strategy of obtaining regulatory approval from government agencies for their products and signing contracts and agreements to broaden their reach and reduce operational costs. For instance, in April 2018, Xavant Technology (Pty) Ltd launched Stimpod NMS460 in the UK.

The non-invasive neuromodulation device Stimpod NMS460 is designed for the symptomatic relief and management of neuropathic pain.

Medtronic, Inc is one of the major pharmaceutical companies. The company manufactures medical devices and is a leading provider of treatments for neuropathy. Company is continuously working for new product launch and approvals. Medtronic neurostimulation devices used for deep brain, spinal cord, and peripheral nerve stimulation therapies.

Key Companies in the Peripheral Nerve Stimulators Market market include

Industry Developments

January 2022, Medtronic (Ireland) received product approval for Intellis. This product is used for the pain related to diabetic peripheral neuropathy (DPN). This product launch the company expands their product portfolio

In September 2020, Boston Scientific Corporation (US) launched a new product “WaveWriter Alpha”. This product containing of four MRI conditionali, Bluetooth-enabled implantable pulse generators (IPGs), proposals expanded personalization based on patient needs, including non-rechargeable and rechargeable alternate, and access to waveforms that can protection many areas of pain.

August 2018, SPR Therapeutics (US) received US FDA product approval for SPRINT PNS system. This product provides relief in both chronic and acute pain conditions. By this product launch company expand their product portfolio in North America region.

In April 2018, Xavant Technology (Pty) Ltd (South Africa) launched Stimpod NMS460 in the UK. The non-invasive neuromodulation device Stimpod NMS460 is designed for the symptomatic relief and management of neuropathic pain as well as an adjuvant treatment in the management of post-surgical pain, post-traumatic acute pain problems, and an adjunct for pain control associated with rehabilitation.

Peripheral Nerve Stimulators Market Segmentation

Peripheral Nerve Stimulators Market Product Outlook

Transcutaneous

Percutaneous

Implantable

Peripheral Nerve Stimulators Market Device Outlook

Stimulators

CPNB Catheters

Pain Pumps

Others

Peripheral Nerve Stimulators Market Stimulating Feature Outlook

Stimulator Machines with Train of Four (TOF) Monitoring Features

Machines Without TOF Features

Peripheral Nerve Stimulators Market End user Outlook

Hospitals and Clinics

Ambulatory Surgical Centers

Peripheral Nerve Stimulators Market Regional Outlook

North America
- US
- Canada

Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe

Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific

Rest of the World
- Middle East
- Africa
- Latin America

Future Outlook

Peripheral Nerve Stimulators Market Future Outlook

The Global Peripheral Nerve Stimulators Market is projected to grow at a 4.94% CAGR from 2024 to 2035, driven by technological advancements, increasing chronic pain prevalence, and rising healthcare expenditure.

New opportunities lie in:

Development of portable nerve stimulators for home use
Integration of AI for personalized pain management solutions
Expansion into emerging markets with tailored pricing strategies

By 2035, the market is expected to achieve substantial growth, driven by innovation and strategic market expansion.

Market Segmentation

Peripheral Nerve Stimulators Market Product Outlook

Transcutaneous
Percutaneous
Implantable

Peripheral Nerve Stimulators Market End User Outlook

Hospitals and Clinics
Ambulatory Surgical Centers

Peripheral Nerve Stimulators Market Device Type Outlook

Stimulators
Continuous Peripheral Nerve Blocks (CPNB) Catheters
Pain Pumps

Peripheral Nerve Stimulators Market Stimulating Feature Outlook

Stimulator Machines with Train of Four (TOF) Monitoring Features
Machines Without TOF Features

Report Scope

MARKET SIZE 2024	0.61(USD Billion)
MARKET SIZE 2025	0.6401(USD Billion)
MARKET SIZE 2035	1.037(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	4.94% (2024 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
Market Forecast Period	2025 - 2035
Historical Data	2019 - 2024
Market Forecast Units	USD Billion
Key Companies Profiled	Market analysis in progress
Segments Covered	Market segmentation analysis in progress
Key Market Opportunities	Advancements in neuromodulation technology enhance treatment options in The Global Peripheral Nerve Stimulators.
Key Market Dynamics	Rising demand for non-invasive pain management solutions drives innovation in peripheral nerve stimulators technology.
Countries Covered	North America, Europe, APAC, South America, MEA