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Its growth is attributed to rising incidence of neurological disorders.
According to Research and Markets, the implantable neurostimulation device market is expected to reach US$13.13b by 2028, with a compound annual growth rate of 10.9%.
The industry's expansion is attributed to rising incidence of neurological disorders, lifestyle-related diseases, and spinal cord injuries. Rising awareness and rising healthcare spending are also driving this growth.
“Implantable neurostimulation devices can be used to modulate neural activity and relieve symptoms when other treatments are ineffective or inadequate,” the report states.
Meanwhile, key market trends include advancements in sensing and neurostimulation technologies, the development of closed-loop systems, and the integration of wireless technologies.
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