Neurostimulation Market in the US – Size, Forecast, and Competitive Landscape: Explore Cortigent’s US Potential

Market Outlook: Neurostimulation Market in the US 2025-2029

The US neurostimulation market is rapidly expanding, driven by advancements in technology and increasing demand for non-invasive treatments for neurological disorders such as chronic pain, depression, and epilepsy. The market is expected to grow at a CAGR of 11%-13% between 2025 and 2029. Exact values for this market can be accessed upon purchasing the report. Key competitors in the neurostimulation market in the US include:

• Medtronic
• Boston Scientific
• Abbott Laboratories
• NeuroPace
• Others

IPO Company Overview: Cortigent in the US neurostimulation market

Cortigent, Inc. is set to launch its IPO on the NYSE in January 2025 under the ticker symbol CRGT, creating a new opportunity for investors. The company is an innovator in neurostimulation therapies, focused on developing advanced treatments for neurological conditions, including stroke rehabilitation, brain injury recovery, and other cognitive impairments. Cortigent’s flagship products are designed to stimulate the brain in targeted areas, promoting neural plasticity and functional recovery in patients with neurological deficits.

Market Segmentation: How is the US neurostimulation market segmented?

Device Type

• Spinal Cord Stimulators (SCS)
• Deep Brain Stimulators (DBS)
• Sacral Nerve Stimulators (SNS)
• Vagus Nerve Stimulators (VNS)
• Transcranial Magnetic Stimulators (TMS)

Application

• Chronic Pain Management
• Parkinson’s Disease
• Epilepsy
• Alzheimer’s Disease
• Stroke Rehabilitation

SCS devices are the leading device type due to their wide application in managing chronic pain conditions, particularly in patients with failed back surgery syndrome (FBSS) and complex regional pain syndrome (CRPS). Chronic pain management is the dominant application segment, driven by the increasing prevalence of chronic pain conditions, such as back pain and diabetic neuropathy, and the growing acceptance of neurostimulation devices for pain relief.

Investment Opportunities: Why explore the US neurostimulation market with Technavio?

Recent developments in the US neurostimulation market reflect significant advancements in technology and growing interest in non-invasive treatments for a variety of neurological conditions. One of the major trends is the increasing use of brain-computer interface (BCI) technologies, which aim to enhance neuroplasticity and rehabilitation for patients recovering from conditions like stroke, traumatic brain injury, and spinal cord injury. These developments are helping to provide more targeted and personalized care, improving both patient outcomes and quality of life by offering precise, real-time interventions based on brain activity.

The market for deep brain stimulation (DBS) devices is also expanding, driven by breakthroughs in the treatment of Parkinson's disease and other movement disorders. Innovations in minimally invasive techniques and the improvement of patient-centric devices are enhancing the efficiency and comfort of treatments, making them more accessible to a broader range of patients. Additionally, regulatory approvals for new neurostimulation devices are accelerating, creating a more dynamic and competitive landscape for both established players like Medtronic and Boston Scientific, and emerging companies focused on niche neurostimulation applications.

Market Dynamics: What factors are influencing the US neurostimulation market?

Drivers

The US neurostimulation market is primarily driven by the rising prevalence of neurological and psychiatric disorders, such as chronic pain, depression, epilepsy, and Parkinson's disease. With an aging population and increasing awareness of mental health, demand for non-invasive, effective treatments has surged. Additionally, advancements in neurostimulation technologies, such as deep brain stimulation (DBS), transcranial magnetic stimulation (TMS), and brain-computer interfaces (BCIs), are improving the efficacy and accessibility of treatments. These innovations are fostering greater acceptance of neurostimulation therapies, contributing to the market’s growth by offering patients alternative solutions to traditional pharmacological treatments.

Trends

A prominent trend in the US neurostimulation market is the growing adoption of non-invasive neurostimulation devices, such as transcranial direct current stimulation (tDCS) and transcranial magnetic stimulation (TMS), especially for mental health conditions like depression and anxiety. There is also a significant rise in the use of personalized neurostimulation therapies that adapt to individual brain patterns, improving treatment precision. Additionally, the integration of artificial intelligence (AI) and data analytics with neurostimulation technologies is enhancing real-time monitoring and tailoring of treatments, further driving innovation. The convergence of these trends is reshaping the market by making neurostimulation therapies more effective, accessible, and personalized.

Opportunities

The neurostimulation market offers several opportunities, particularly in expanding treatment applications for conditions such as Alzheimer’s disease, traumatic brain injury, and addiction, where neurostimulation therapies are still emerging. Furthermore, as the market for mental health treatments grows, there is an increasing demand for non-invasive therapies for conditions like PTSD and chronic pain, opening new avenues for innovation. Companies that focus on improving the user experience, such as developing portable and more comfortable devices, and those that collaborate with healthcare providers to expand insurance coverage, can tap into this expanding market. Opportunities also exist in combination therapies, where neurostimulation is paired with physical therapy or cognitive training to enhance recovery outcomes.

Challenges

One of the major challenges in the US neurostimulation market is the high cost of many advanced devices, making them less accessible to a broad range of patients, especially those without adequate insurance coverage. Additionally, the regulatory hurdles and lengthy approval processes for new devices can delay market entry and hinder innovation. There are also concerns regarding the safety and long-term efficacy of some neurostimulation therapies, which may affect their adoption in certain patient populations. Moreover, there is a need for more clinical evidence to support the effectiveness of neurostimulation in treating a wider array of neurological and psychiatric disorders, which could slow growth in some segments of the market.

Investment Questions: Topics to consider when investing in the US neurostimulation market

What is the regulatory pathway for the company’s products?
Understanding the regulatory approval process, including FDA clearances and clinical trials, is crucial, as delays in approval can impact market entry and revenue generation.

How innovative and differentiated are the company's technologies?
Investors should assess whether the company is at the forefront of neurostimulation technology, particularly with advancements in brain-computer interfaces, personalized treatments, and non-invasive solutions that offer clear advantages over existing treatments.

What is the market potential and patient demand for the company's treatments?
Evaluating the size of the target market, including the prevalence of conditions like chronic pain, depression, and neurological disorders, helps determine the growth prospects. Understanding whether the technology addresses unmet needs is critical for long-term success.

What are the risks and regulatory challenges in the neurostimulation space?
Understanding the regulatory hurdles, reimbursement policies, and market adoption challenges for neurostimulation devices is vital. Additionally, assessing risks such as safety concerns, long-term efficacy, and device recalls can provide a more complete risk profile.

For a detailed analysis of the US neurostimulation market, buy the full report

Technavio Report Insights: How Can Technavio Reports Help Investors Make Better Business Decisions?

Key Features of a Technavio Report: 

• Comprehensive Market Analysis: Provides a detailed overview of the US neurostimulation market, including market size, growth rate, segmentation, and regional analysis. 

• In-Depth

  Competitive Landscape:

  Offers insights into the competitive dynamics, market share and positioning, and product offerings of key players. 

• Future Market Trends: Identifies emerging trends and opportunities that can shape the future of the market. 

• Detailed Segmentation: Breaks down the market into various segments to help investors identify specific niches and target markets. 

• Expert Analysis: Provides expert insights and forecasts from industry analysts

FAQ

1. What is neurostimulation?
Neurostimulation refers to the use of electrical impulses or magnetic fields to stimulate specific areas of the brain, spinal cord, or peripheral nerves to treat neurological and psychiatric conditions such as chronic pain, depression, epilepsy, and Parkinson’s disease. It involves devices like deep brain stimulators (DBS), transcranial magnetic stimulation (TMS), and spinal cord stimulators.

2. What are the main applications of neurostimulation therapies?
Neurostimulation therapies are primarily used to treat chronic pain, movement disorders (e.g., Parkinson’s disease, essential tremor), epilepsy, depression, and psychiatric conditions like anxiety and PTSD. Additionally, they are being explored for use in stroke recovery, spinal cord injury rehabilitation, and cognitive disorders.

3. What is the regulatory process for neurostimulation devices?
Neurostimulation devices in the US must go through the FDA’s approval process, which typically involves premarket notification (510(k)) or premarket approval (PMA) depending on the device's risk classification. The process includes clinical trials, safety evaluations, and efficacy testing. Devices must also meet stringent safety and performance standards.

4. How is the neurostimulation market evolving with technology?
The neurostimulation market is evolving with the integration of artificial intelligence (AI), machine learning, and personalized treatment approaches. These technologies enable real-time adjustments to neurostimulation parameters, improving the precision of treatments. Additionally, advancements in brain-computer interfaces (BCIs) are offering new possibilities for neurological rehabilitation and cognitive enhancement.

5. What is the future outlook for the neurostimulation market in the US?
The neurostimulation market in the U.S. is expected to continue growing due to ongoing technological advancements, increasing applications for various neurological and psychiatric conditions, and a greater shift toward non-invasive treatments. The market is also likely to expand with greater focus on personalized medicine, more regulatory approvals, and rising patient demand for alternative therapies.

Table of Contents

1 Executive Summary

• 1.1 Market overview
  • Executive Summary - Chart on Market Overview
  • Executive Summary - Data Table on Market Overview
  • Executive Summary - Chart on Global Market Characteristics
  • Executive Summary - Chart on Market by Geography
  • Executive Summary - Chart on Market Segmentation
  • Executive Summary - Chart on Incremental Growth
  • Executive Summary - Data Table on Incremental Growth
  • Executive Summary - Chart on Company Market Positioning

2 Technavio Analysis

• 2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

• 2.2 Criticality of inputs and factors of differentiation
  • Overview on criticality of inputs and factors of differentiation

• 2.3 Factors of disruption
  • Overview on factors of disruption

• 2.4 Impact of drivers and challenges
  • Impact of drivers and challenges in 2024 and 2029

3 Market Landscape

• 3.1 Market ecosystem
  • Parent Market
  • Data Table on - Parent Market

• 3.2 Market characteristics
  • Market characteristics analysis

• 3.3 Value chain analysis
  • Value chain analysis

4 Market Sizing

• 4.1 Market definition
  • Offerings of companies included in the market definition

• 4.2 Market segment analysis
  • Market segments

• 4.3 Market size 2024

• 4.4 Market outlook: Forecast for 2024-2029
  • Chart on Global Market - Market size and forecast 2024-2029 ($ billion)
  • Data Table on Global Market - Market size and forecast 2024-2029 ($ billion)
  • Chart on Global Market: Year-over-year growth 2024-2029 (%)
  • Data Table on Global Market: Year-over-year growth 2024-2029 (%)

5 Historic Market Size

• 5.1 Global Market 2019 - 2023
  • Historic Market Size - Data Table on Global Market 2019 - 2023 ($ billion)

• 5.2 Segment Analysis 2019 - 2023
  • Historic Market Size – Segment Analysis 2019 - 2023 ($ billion)

• 5.4 Geography segment analysis 2019 - 2023
  • Historic Market Size - Geography Segment 2019 - 2023 ($ billion)

6 Qualitative Analysis

• 6.1 Impact of AI on the Global Market

7 Five Forces Analysis

• 7.1 Five forces summary
  • Five forces analysis - Comparison between 2024 and 2029

• 7.2 Bargaining power of buyers
  • Bargaining power of buyers - Impact of key factors 2024 and 2029

• 7.3 Bargaining power of suppliers
  • Bargaining power of suppliers - Impact of key factors in 2024 and 2029

• 7.4 Threat of new entrants
  • Threat of new entrants - Impact of key factors in 2024 and 2029

• 7.5 Threat of substitutes
  • Threat of substitutes - Impact of key factors in 2024 and 2029

• 7.6 Threat of rivalry
  • Threat of rivalry - Impact of key factors in 2024 and 2029

• 7.7 Market condition
  • Chart on market condition - Five forces 2024 and 2029

8 Market Segmentation

• 8.1 Market segments
  • Chart on Segmentation - Market share 2024-2029 (%)
  • Data Table on Segmentation - Market share 2024-2029 (%)

• 8.2 Segment Comparison
  • Chart on Comparison
  • Data Table on Comparison

• 8.3 Segment Market Opportunity
  • Market opportunity ($ billion)
  • Data Table on Market Opportunity ($ billion)

9 Customer Landscape

• 9.1 Customer landscape overview
  • Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

10 Geographic Landscape

• 10.1 Geographic segmentation
  • Chart on market share by geography 2024-2029 (%)
  • Data Table on market share by geography 2024-2029 (%)

• 10.2 Geographic comparison
  • Chart on Geographic comparison
  • Data Table on Geographic comparison

• 10.3 Market opportunity by geography
  • Market opportunity by geography ($ billion)
  • Data Tables on Market opportunity by geography ($ billion)

11 Drivers, Challenges, and Opportunity/Restraints

• 11.1 Market drivers

• 11.2 Market challenges

• 11.3 Impact of drivers and challenges
  • Impact of drivers and challenges in 2024 and 2029

• 11.4 Market opportunities/restraints

12 Competitive Landscape

• 12.1 Overview

• 12.2 Competitive Landscape
  • Overview on criticality of inputs and factors of differentiation

• 12.3 Landscape disruption
  • Overview on factors of disruption

• 12.4 Industry risks
  • Impact of key risks on business

13 Competitive Analysis

• 13.1 Companies profiled
  • Companies covered

• 13.2 Company ranking index
  • Company ranking index

• 13.3 Market positioning of companies
  • Matrix on companies position and classification

14 Appendix

• 14.1 Scope of the report

• 14.2 Inclusions and exclusions checklist
  • Inclusions checklist
  • Exclusions checklist

• 14.3 Currency conversion rates for US$
  • Currency conversion rates for US$

• 14.4 Research methodology
  • Research methodology

• 14.5 Data procurement
  • Information sources

• 14.6 Data validation
  • Data validation

• 14.7 Validation techniques employed for market sizing
  • Validation techniques employed for market sizing

• 14.8 Data synthesis
  • Data synthesis

• 14.9 360 degree market analysis
  • 360 degree market analysis

• 14.10 List of abbreviations
  • List of abbreviations