Non-Invasive Neurostimulation Devices refer to medical devices that deliver electrical or magnetic stimulation to targeted areas of the brain, spinal cord, or peripheral nervous system without the need for surgical implants. These devices help in improving neurological conditions like chronic pain, epilepsy, depression, anxiety, Parkinson's disease, and neurological disorders by adjusting neural activity without disrupting surrounding nervous tissue. They offer benefits like immediate relief from pain, mobility improvement through excitatory signals, and reduced dependence on medications upon regular treatment sessions. The rising awareness regarding advantages of neuromodulation therapies and availability of advanced non-invasive systems is fueling the demand for NINS devices.
The non-invasive neurostimulation devices market is estimated to be valued at USD 1.3 Bn in 2024 and is expected to reach USD 2.8 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.
Key Takeaways
Key players operating in the Non-Invasive Neurostimulation Devices are electroCore, Neurosigma, Neurolief, LivaNova PLC, Medtronic, Boston Scientific Corporation, Cerbomed GmbH, Neuronix Ltd, and Soterix Medical Inc.
The Non-Invasive Neurostimulation Devices Market growing prevalence of neurological disorders worldwide owing to changing lifestyle practices and rising geriatric population presents a huge patient pool requiring treatment. Non-invasive neuromodulation therapies are emerging as an effective alternative to pharmaceutical medications and invasive surgical procedures.
Technological advancements are enabling Non-Invasive Neurostimulation Devices manufacturers to develop compact, multi-target systems with improved treatment outcomes. Emergence of wireless, mobile-compatible devices is further augmenting the demand.
Market Trends
Emergence of transcranial alternating current stimulation (TACS) - TACS uses weaker electric currents than TDCS to target frequencies in the brain's natural rhythms. It holds promise in treating mental health disorders.
Advent of augmented reality and virtual reality in therapy - The integration of AR/VR technologies provides an immersive treatment experience and helps in gathering real-time brain activity data to improve stimulation outcomes.
Market Opportunities
Growing demand from developing economies - Increasing healthcare expenditure and expanding medical infrastructure in developing Asian and Latin American countries offer scope for manufacturers.
Development of personalized neurostimulation devices - Leveraging big data analytics and advanced algorithms to develop individualized stimulation protocols can help address the unmet needs of a wider patient pool.
Impact of COVID-19 on Non-Invasive Neurostimulation Devices Market Growth
The COVID-19 pandemic has significantly impacted the non-invasive neurostimulation devices market. During the initial outbreak, restrictions on non-essential medical procedures led to cancellations and postponements of neurostimulation therapies. Supply chain disruptions also created shortages of key components and devices. This resulted in a steep decline in market revenue during 2020.
However, as the pandemic spread, demand increased for non-invasive treatments to manage neurological and psychiatric conditions arising from COVID-19 like depression, anxiety and post-traumatic stress disorder in patients. Neurostimulation devices offer non-pharmacological options for such cases. Additionally, remote therapy management and virtual consultations enabled continuity of care. This aided in partial recovery toward the end of 2020.
Going forward, stringent safety protocols and use of personal protective equipment are likely to continue affecting operation volumes in the short-run. The priority is shifting toward faster recovery and non-invasive alternatives. Advanced wireless and cloud-based technologies enabling remote therapy delivery and monitoring can boost market growth despite social distancing norms. Telehealth solutions and strict sanitization practices will play a crucial role. Vaccination drives worldwide also offer hope for gradual return to pre-crisis activity levels in the long-run if risks remain contained.
North America Concentrates Major Non-Invasive Neurostimulation Devices Market Value
Geographically, North America accounts for the largest share of the global non-invasive neurostimulation devices market in terms of value. This is attributed to the rising incidence of neurological disorders, growing geriatric population susceptible to such conditions, higher healthcare spending, and rapid adoption of novel technologies in the region. Additionally, favorable reimbursement policies and presence of prominent industry players boost market revenue.
Asia Pacific Presents Strong Growth Opportunities for Non-Invasive Neurostimulation Devices Market
The Asia Pacific region is estimated to witness the fastest growth in the non-invasive neurostimulation devices market over the forecast period. This can be accredited to increasing healthcare expenditures, growing awareness regarding neurostimulation therapies, rising geriatric burden, expanding network of hospitals and diagnostic centers, and improving access to modern treatment options in developing Asian countries. Significant untapped market potential along with supportive regulatory frameworks and gradual integration of digital technologies will further drive the Asia Pacific non-invasive neurostimulation devices market.
Get More Insights On- Non-Invasive Neurostimulation Devices Market
Get This Report in Japanese Language: 非侵襲性神経刺激デバイス市場
Get This Report in Korean Language: 비침습적 신경자극 장치 시장
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
(https://www.linkedin.com/in/ravina-pandya-1a3984191)