Neurostimulation devices market projects $6.26b growth by 2027

The market is estimated to grow by 12.19% CAGR within the forecast period.

The global neurostimulation devices market is expected to grow by $6.26b at an estimated compound annual growth rate (CAGR) of 12.19% until 2027.

A report by Technavio revealed that the market is driven by the rising prevalence of neurological disorders, advances in technology, and the increasing awareness and acceptance of neurostimulation therapies.

Moreover, regulatory approvals, reimbursement policies, and collaborations between industry players and research institutions serve as influencers for the market’s growth trajectory.

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Meanwhile, high costs incurred with neurostimulation devices and post-operative expenses pose as challenges impeding the market’s growth.

According to the report, regulatory approval, reimbursement, and healthcare-provider collaboration are crucial in their adoption, particularly in emerging countries