Sparking the Mind: Exploring the World of Neurostimulation

Sparking the Mind: Exploring the World of Neurostimulation


Oct 31, 2023

Blog Biotechnology Sparking the Mind: Exploring the World of Neurostimulation

Neurostimulation is a medical and therapeutic technique that involves the use of electrical, magnetic, or other forms of energy to stimulate the nervous system using invasive (e.g. microelectrodes) or non-invasive means (e.g. transcranial magnetic stimulation or transcranial electric stimulation, such as Transcranial direct current stimulation (tDCS) or transcranial alternating current stimulation). BCC Research expects the neurostimulation devices market size to expand at a CAGR of 7.4% to reach $11.7 billion by 2028.

What Is a Neurostimulator?

A neurostimulator is a device that delivers electrical signals to the brain or other parts of the nervous system, usually to treat pain or neurological disorders. There are different types of neurostimulators, such as implantable, non-invasive, spinal cord, and deep brain stimulators. Each type has its own advantages and disadvantages, depending on the condition and the patient’s preferences. Some neurostimulators can be adjusted by the patient using a handheld programmer. Neurostimulation can help improve the quality of life of people who suffer from chronic pain, movement disorders, epilepsy, depression, and other conditions that are not well controlled by medications or other therapies.

Key Players in the Neurostimulation Market:

  1. Medtronic PLC is a top global company in the field of medical technology. They provide various neurostimulation devices for different medical conditions, including spinal cord stimulation (SCS), deep brain stimulation (DBS), sacral nerve stimulation (SNS), gastric electrical stimulation (GES), and vagus nerve stimulation (VNS). Medtronic is also dedicated to investing significantly in research and development (R&D) to create and introduce innovative products and solutions to the healthcare market.
  2. Boston Scientific is a worldwide medical device company that offers inventive solutions for different medical fields, including neuromodulation. They provide devices for spinal cord stimulation (SCS), deep brain stimulation (DBS), and Vagus Nerve Stimulation (VNS) to treat conditions like chronic pain, Parkinson's disease, dystonia, essential tremor, and epilepsy. Boston Scientific is also actively working on growing its range of products and global reach by acquiring other companies and forming partnerships.
  3. Abbott Laboratories is a healthcare company with diverse operations across four segments: established pharmaceuticals, diagnostics, nutritional's, and medical devices. Within its neuromodulation division, Abbott provides devices for sacral nerve stimulation (SNS) and Vagus Nerve Stimulation (VNS) to address issues like urinary and fecal incontinence, and epilepsy. In 2017, Abbott expanded its offerings by acquiring St. Jude Medical, which brought spinal cord stimulation (SCS) and deep brain stimulation (DBS) devices into its product portfolio.
  4. Nevro Corporation is a medical device company that focuses on treating chronic pain using a specialized therapy called SCS (spinal cord stimulation). They have a distinct SCS system known as HF10 therapy, which delivers high-frequency stimulation at 10 kHz without causing a tingling sensation (paresthesia). Nevro claims that their HF10 therapy offers better pain relief and functional improvement when compared to traditional SCS therapy.
  5. Neuronetics – A creator of NeuroStar Advanced Therapy is a medical device company specializing in non-invasive neuromodulation therapy for psychiatric disorders. They have a device called the NeuroStar Advanced Therapy System, which uses transcranial magnetic stimulation (TMS) to deliver magnetic pulses to the brain. This therapy is used to treat major depressive disorder (MDD). In 2022, Neuronetics received FDA approval for their TMS device to also treat obsessive-compulsive disorder (OCD).

Neurostimulation: Technologies and Global Markets

BCC Research expects the neurostimulation devices market size to expand at a CAGR of 7.4% to reach $11.7 billion by 2028.

How is the neurostimulation devices market benefiting from investments?

The market for neurostimulation devices is rapidly growing and competitive. It's predicted to reach a substantial value of $18.12 billion by 2030, as reported by The Brainy Insights. Several factors are fueling this growth, including the rising prevalence of neurological disorders, a growing demand for less invasive treatments, advancements in technology, and favorable reimbursement policies.

Moreover, the neurostimulation devices market is drawing substantial investments from various sources, including venture capital firms, government agencies, and research institutions. For instance, Nalu Medical, a company focusing on wireless neurostimulation devices for chronic pain, secured $25 million in a Series C funding round in 2022. This funding came primarily from Windham Venture Partners. In 2021, MicroTransponder, specializing in vagus nerve stimulation devices for stroke rehabilitation and tinnitus treatment, received $10 million from the National Institutes of Health (NIH) to conduct clinical trials. Aleva Neurotherapeutics, which develops directional deep brain stimulation devices for Parkinson's disease and other neurological disorders, secured $32 million in a Series E financing round in 2020, led by Omega Funds.

These examples highlight the promise and innovation within the field of neurostimulation. It has the potential to significantly improve the quality of life for millions of people facing various neurological conditions. The increased investment in neurostimulation devices also demonstrates the growing recognition of the value and impact of this technology within the healthcare sector.

Neurostimulation is a rapidly growing field, with a market projected to reach $11.7 billion by 2028 and $18.12 billion by 2030. Key companies like Medtronic, Boston Scientific, Abbott, Nevro, and Neuronetics, are driving innovation to treat various neurological conditions. Notably, substantial investments from venture capital firms, government agencies, and research institutions are fueling this growth, highlighting the potential to improve the quality of life for those with neurological disorders. This reflects the growing recognition of neurostimulation's value in healthcare.

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    Karishma Arora

    Written By Karishma Arora

    Karishma Arora is an Assistant Team Lead in Marketing Operations at BCC Research, with a master's degree in commerce. She is a passionate marketer with a knack for creativity and data-driven strategies.

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