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Limitations:

The high cost of neurostimulation procedures and devices is restraining market growth. The high cost of these devices can lead to disproportionate application in geographic regions with different financial resources.

Segment Analysis

Enter insights

Based on device type, the market is segmented into implantable and external devices. Among these, the implantable devices segment will hold the highest share of the global neurostimulation devices market in 2021 and further register the highest CAGR during the forecast period. Rising cases of depression, anxiety and neurological disorders along with the new and improved innovations in implantable devices are driving the market growth. Moreover, the spinal cord stimulation device holds the highest market share among implantable devices in 2021.

Application Insights

In terms of application, the neurostimulation devices market is segmented into pain management, hearing loss, urinary incontinence, Parkinson’s disease, epilepsy, gastroparesis, depression, and others. The Pain Management segment has the highest market share in 2021 and is expected to continue its dominance during the forecast period. These devices provide pain relief for patients who have been exhausted by conservative measures—including physical therapy, neuropathic pain relievers, and adjuvant medications.

End User Insights

Based on end users, the market is segmented…