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 R...

Peripheral Nerve Stimulators Market Infographic

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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 growth of the Peripheral Nerve Stimulators market?

The Peripheral Nerve Stimulators market is the expected increase in total market value of 1.04 USD billion over a defined forecast period 2025–2035. It is driven by factors such as demand trends, technological advances, regulatory changes, and geographic expansion.

What is the size of the Peripheral Nerve Stimulators market?

Peripheral Nerve Stimulators market size was valued at approximately 0.61 billion USD in 2024. This figure will reach 1.04 billion USD covering all regions (America, Europe, Asia, MEA and ROW), focusing its segments / services / distribution channels till 2035.

What is the CAGR of the Peripheral Nerve Stimulators market?

Peripheral Nerve Stimulators market is expected to grow at a CAGR of 4.94% between 2025 and 2035.

How much will the Peripheral Nerve Stimulators market be worth by 2035?

Peripheral Nerve Stimulators market is expected to be worth of 1.04 billion USD, reflecting growth driven by usage, technology and global demands by the end of 2035.

How will the Peripheral Nerve Stimulators market perform over the next 10 years?

Over the next 10 years the Peripheral Nerve Stimulators market is expected to shift from usd billion 0.61 to 1.04 billion USD, led by adoption of advanced tech, demographic trends, regulatory approvals, with potential headwinds from 2025 to 2035.

How much is Peripheral Nerve Stimulators market expected to grow?

The Global Peripheral Nerve Stimulators market is anticipated to reach 0.91 billion during the forecast period of 2024-2035.

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 Market Research Future Analysis, the Global Peripheral Nerve Stimulators market was valued at USD 0.61 Billion in 2024 and is projected to reach USD 1.04 Billion by 2035, growing at a CAGR of 4.94% from 2025 to 2035. The market is driven by the increasing demand for Wireless Peripheral Nerve Stimulators and the rising prevalence of chronic pain conditions. However, challenges such as high costs and technical skill shortages for device installation may hinder growth. The market is segmented into transcutaneous, percutaneous, and implantable devices, with transcutaneous devices leading in market share due to their non-invasive nature. North America holds the largest market share, while Asia-Pacific is expected to exhibit the highest growth rate during the forecast period.

Key Market Trends & Highlights

The Global Peripheral Nerve Stimulators market is witnessing transformative trends driven by technological advancements and increasing healthcare needs.

Market Size in 2024: USD 0.61 Billion; projected to reach USD 1.04 Billion by 2035.
CAGR during 2024-2032: 4.94%; driven by demand for Wireless Peripheral Nerve Stimulators.
North America accounted for the largest market share in 2021; projected to reach USD 1.04 Billion by 2035.
Asia-Pacific expected to grow at the highest CAGR of 7.59% during the forecast period.

Peripheral Nerve Stimulators Market

CAGR

4.94%

Market Size & Forecast

2024 Market Size	USD 0.61 Billion
2035 Market Size	USD 1.04 Billion
CAGR (2024-2035)	4.94%
Largest Regional Market Share in 2021	North America.

Major Players

Key players include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott Laboratories, Inc. (US), NEVRO CORP. (US), and Nuvectra Corporation (US).

Market Trends

The increasing prevalence of chronic pain conditions and the growing acceptance of neuromodulation therapies are driving the expansion of the global peripheral nerve stimulators market.

U.S. National Institutes of Health

Peripheral Nerve Stimulators Market Market Drivers

Market Growth Projections

The Global Peripheral Nerve Stimulators Industry is poised for substantial growth, with projections indicating an increase from 0.6 USD Billion in 2024 to 1.05 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 5.19% from 2025 to 2035, reflecting the rising demand for innovative pain management solutions. Factors contributing to this growth include advancements in technology, increasing prevalence of neurological disorders, and a shift towards non-invasive treatment options. The market's expansion is likely to attract investment and drive further research and development, positioning the Global Peripheral Nerve Stimulators Industry as a key player in the healthcare landscape.

Supportive Regulatory Environment

A supportive regulatory framework is fostering growth within the Global Peripheral Nerve Stimulators Industry. Regulatory agencies are increasingly recognizing the benefits of peripheral nerve stimulators, leading to streamlined approval processes for new devices. This environment encourages innovation and expedites the introduction of advanced technologies into the market. For example, the U.S. Food and Drug Administration has implemented initiatives to facilitate faster access to safe and effective medical devices. As a result, manufacturers are more likely to invest in research and development, contributing to market expansion. The favorable regulatory landscape is expected to play a pivotal role in the industry's growth trajectory through 2035.

Growing Awareness and Education Initiatives

The Global Peripheral Nerve Stimulators Industry is benefitting from increased awareness and education initiatives aimed at both healthcare professionals and patients. Educational programs and campaigns are being launched to inform stakeholders about the benefits and applications of peripheral nerve stimulation. As knowledge about these devices spreads, more patients are likely to seek out these treatment options, leading to higher adoption rates. Furthermore, healthcare providers are becoming more proficient in recommending these therapies, which enhances patient access to care. This growing awareness is anticipated to contribute to the market's expansion, aligning with the projected growth from 0.6 USD Billion in 2024 to 1.05 USD Billion by 2035.

Technological Advancements in Medical Devices

Technological innovations play a crucial role in the expansion of the Global Peripheral Nerve Stimulators Industry. Recent advancements in neurostimulation technology, such as miniaturization and improved battery life, enhance the efficacy and usability of these devices. For instance, the development of wireless and rechargeable stimulators has made treatment more convenient for patients. Additionally, integration with mobile applications for monitoring and control is becoming increasingly common. These innovations not only improve patient outcomes but also attract investment in the sector. The anticipated growth from 0.6 USD Billion in 2024 to 1.05 USD Billion by 2035 reflects the impact of these technological advancements on the Global Peripheral Nerve Stimulators Industry.

Increasing Prevalence of Neurological Disorders

The Global Peripheral Nerve Stimulators Industry is experiencing growth due to the rising incidence of neurological disorders such as chronic pain, epilepsy, and migraines. The World Health Organization indicates that neurological disorders affect millions globally, leading to a heightened demand for effective treatment options. Peripheral nerve stimulators offer a non-invasive alternative for pain management and symptom relief. As the global population ages, the prevalence of these conditions is expected to rise, further driving the market. By 2024, the market is projected to reach 0.6 USD Billion, highlighting the urgent need for innovative solutions in the Global Peripheral Nerve Stimulators Industry.

Rising Demand for Non-Invasive Treatment Options

The Global Peripheral Nerve Stimulators Industry is witnessing a shift towards non-invasive treatment modalities as patients and healthcare providers seek alternatives to traditional surgical interventions. Peripheral nerve stimulation offers a less invasive option for managing chronic pain and other neurological conditions, reducing recovery times and associated risks. This trend is particularly relevant in regions with increasing healthcare costs and a growing emphasis on patient-centered care. As awareness of non-invasive therapies rises, the market is expected to grow significantly. The projected compound annual growth rate of 5.19% from 2025 to 2035 underscores the potential for non-invasive solutions within the Global Peripheral Nerve Stimulators Industry.

Market Segment Insights

Peripheral Nerve Stimulators Segment Insights

Peripheral Nerve Stimulators Product Insights

The Global Peripheral Nerve Stimulators 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 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 2032

Regional Insights

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 Segmentation

Peripheral Nerve Stimulators Product Outlook

Transcutaneous

Percutaneous

Implantable

Peripheral Nerve Stimulators Device Outlook

Stimulators

CPNB Catheters

Pain Pumps

Others

Peripheral Nerve Stimulators Stimulating Feature Outlook

Stimulator Machines with Train of Four (TOF) Monitoring Features

Machines Without TOF Features

Peripheral Nerve Stimulators End user Outlook

Hospitals and Clinics

Ambulatory Surgical Centers

Peripheral Nerve Stimulators 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 2025 to 2035, driven by technological advancements, increasing prevalence of chronic pain, and rising demand for minimally invasive procedures.

New opportunities lie in:

Develop innovative neuromodulation therapies targeting specific pain pathways.
Expand product offerings to include wireless and portable nerve stimulators.
Leverage telehealth platforms for remote patient monitoring and device management.

By 2035, the market is expected to demonstrate robust growth, positioning itself as a leader in pain management solutions.

Market Segmentation

Peripheral Nerve Stimulators End user Outlook

Hospitals and Clinics
Ambulatory Surgical Centers

Peripheral Nerve Stimulators Device Outlook

Stimulators
CPNB Catheters
Pain Pumps
Others

Peripheral Nerve Stimulators Product Outlook

Transcutaneous
Percutaneous
Implantable

Peripheral Nerve Stimulators Regional Outlook

North America

US
Canada

Peripheral Nerve Stimulators Stimulating Feature Outlook

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

Report Scope

Report Attribute/Metric	Details
Market Size 2024	USD 0.61 Billion
Market Size 2035	1.04
Compound Annual Growth Rate (CAGR)	4.94% (2025 - 2035)
Base Year	2024
Forecast Period	2025 - 2035
Historical Data	2019 to 2022
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Product, Device Type, Stimulating Feature, End user and Region
Geographies Covered	North America, Europe, Asia Pacific, and Rest of the World
Countries Covered	The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled	· MEDTRONIC (Ireland) · B. Braun SE (Germany) · Boston Scientific Corporation (US) · Curonix LLC (US) · SPR Therapeutics (US) · AVNS (US) · Teleflex Incorporated (US) · SUNMED (US) · Xavant Technology (Pty) Ltd (South Africa) · Vygon (France)
Key Market Opportunities	· Growing Technological Advancements
Key Market Drivers	· Increasing demand for peripheral nerve stimulators · Rise in cases of nerve injuries
Market Size 2025	0.64

Market Highlights

Author

Rahul Gotadki

Assistant Manager

She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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