north america electrical stimulation devices Market

The North America electrical stimulation devices market is expected to reach US$ 4,724.0millionby 2027 from US$ 2,302.0millionin 2019. The market is estimated to grow at a CAGR of 9.6% from 2020 to 2027.

Factors such as increasing adoption of electrical stimulation devices, rising prevalence of neurological conditions, growing awareness about benefits provided by electrical stimulation devices, and rising number of product introductions are expected to boost the growth of the market. On the other hand, higher cost of implants is likely to restrain the market growth to a certain extent.

The considerably growing prevalence of chronic pain is projected to drive the growth of the market during the forecast period. According to a study published by NCBI in 2016, extensively increasing prevalence of chronic pain and associated conditions are the leading cause of disability worldwide. Moreover, according to another study published by NCBI in 2019, 30.0% of the population suffers from some form of chronic pain. Factors such as genetic conditions, sedentary lifestyle, aging, mental stress, and surgical interventions are among of the prominent causes of chronic pain. In addition, according to a study published by the American Chiropractic Association in 2020, ~31 million Americans suffer from lower back pain at some point of time in their lives, which is majorly related to sedentary life style.

The North America Electrical Stimulation Devices Market, based on device type is segmented into spinal cord stimulation devices, deep brain stimulation devices, vagus nerve stimulation (VNS) devices, sacral nerve stimulation (SNS) devices, gastric electrical stimulation (GES) devices, transcutaneous electrical nerve stimulation (TENS) devices, and other devices. In 2019, the spinal cord stimulation devices segment held a larger share of the market; however, thesacral nerve stimulation devices segment is expected to register a higher CAGR in the market during the forecast period.

A few major primary and secondary sources referred to in the process of preparing the report on the North America electrical stimulation devices market are the World Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare, among others.