The global Peripheral Nerve Stimulators (PNS) market is expected to grow at a CAGR of 6.9% between 2024 and 2030. This growth is primarily driven by the rising number of patients with nerve injuries, technological advancements in PNS devices, increased public awareness, and a growing demand for chronic pain management solutions. Additional factors fueling market expansion include the increasing prevalence of pain-inducing conditions, an aging population, a higher incidence of obesity, and greater recognition of PNS benefits. These elements are anticipated to propel the Peripheral Nerve Stimulation Device market throughout the forecast period.
DelveInsight’s Peripheral Nerve Stimulator Market Insights report offers a comprehensive analysis of the current and projected market, including individual company market shares, key drivers and barriers, emerging trends, and profiles of leading PNS companies.
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Key Takeaways from the Peripheral nerve stimulator Market Report
The Peripheral Nerve Stimulator (PNS) market is expected to grow at a moderate CAGR between 2025 and 2032. According to DelveInsight, North America is projected to lead the global PNS market during this period.
Key players in the market include B. Braun Melsungen AG, Bioventus, AVNS, Nalu Medical Inc, Stimwave LLC, Vygon, Medilogix, and several others. The market is experiencing increased demand, driven largely by the rising prevalence of chronic diseases and the growing need for innovative pain management solutions.
Significant recent developments include:
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July 2024: Curonix received FDA clearance for its Freedom® PNS System, the first full-body peripheral nerve stimulator, now including a craniofacial pain indication, expanding treatment options for patients with diverse pain profiles.
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January 2024: Neuralace Medical obtained FDA clearance for Axon Therapy, a non-invasive magnetic PNS treatment for chronic painful diabetic neuropathy (PDN). This therapy delivers painless 13.5-minute magnetic pulse sessions as an alternative to traditional pain management methods.
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April 2023: Neuspera Medical launched the first leadless micro-implant for chronic peripheral nerve pain, providing wireless neurostimulation therapy for improved patient comfort and procedural flexibility.
Leading companies driving innovation in the PNS market include B. Braun Melsungen AG, Bioventus, AVNS, Nalu Medical Inc, Stimwave LLC, Vygon, Medilogix, and others.
To read more about the latest highlights related to the Peripheral nerve stimulator market, get a snapshot of the key highlights entailed in the Global Peripheral nerve stimulator Market Report
Peripheral nerve stimulator Overview
Peripheral Nerve Stimulators (PNS) are medical devices that manage chronic pain and nerve-related conditions by sending electrical impulses to targeted peripheral nerves. They aim to reduce pain, enhance nerve function, and aid in the recovery process, particularly for patients suffering from neuropathic pain, chronic pain, or nerve injuries.
Peripheral nerve stimulator Market Insights
North America is projected to maintain the largest share of the global Peripheral Nerve Stimulators (PNS) market, driven by the rising prevalence of chronic pain, increasing approvals and awareness of PNS devices, and an expanding geriatric population.
Chronic health conditions are particularly common among adults aged 65 to 84, with factors such as high BMI, diabetes, kidney issues, and hypertension contributing to pain prevalence. According to the 2019 National Health Interview Survey, 20.4% of U.S. adults reported experiencing chronic pain, and 7.4% suffered from high-impact chronic pain that significantly restricted daily activities and work. Chronic pain was more prevalent in women (21.7%) than men (19.0%), and high-impact chronic pain also affected more women (8.5%) than men (6.3%). Pain levels were highest among individuals aged 65 and above.
These trends are expected to fuel the growth of the PNS market in North America.
To know more about why North America is leading the market growth in the Peripheral nerve stimulator market, get a snapshot of the Peripheral nerve stimulator Market Outlook
Peripheral nerve stimulator Market Dynamics
The Peripheral Nerve Stimulators (PNS) market is segmented by product type, end-user, and geography. Product categories include implantable and percutaneous devices, while end-users encompass hospitals, ambulatory surgical centers, and others. The geographic scope covers North America, Europe, Asia-Pacific, and the Rest of the World.
Among product types, implantable peripheral nerve stimulators are projected to lead the market from 2024 to 2030. These devices involve the subcutaneous implantation of electrodes near or on the peripheral nerve responsible for pain, delivering electrical signals to relieve discomfort. Implantable PNS devices offer benefits such as a minimally painful procedure, shorter operation times, and a reduction in opioid use for pain management.
Notable market developments include Neuspera Medical Inc. receiving FDA approval for the Neuspera Neurostimulation System (NNS) in August 2021, designed to provide pain relief. Additionally, in February 2022, Nalu Medical enhanced its Haleakalā system by expanding the stimulation pulse width, improving its performance for both spinal cord stimulation (SCS) and PNS applications.
The market growth is expected to be driven by rising chronic pain prevalence, an aging and obese population, and increased public awareness of PNS devices, all contributing to higher demand during the forecast period.
Peripheral nerve stimulator Market Drivers: Rising demand for products is driven by multiple factors, including the increasing prevalence of chronic diseases and the significant need for drug development targeting these conditions.
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Coverage: Global
Study Period: 2022 to 2032
Key Peripheral nerve stimulator Companies: B. Braun Melsungen AG, Bioventus, AVNS, Nalu Medical Inc, Stimwave LLC, Vygon, Medilogix, and others.
Which MedTech key players in the Peripheral nerve stimulator market are set to emerge as the trendsetter, explore @ Peripheral nerve stimulator Companies
Table of Contents
1. Peripheral nerve stimulator Market Report Introduction
2. Peripheral nerve stimulator Market Executive Summary
3. Competitive Landscape
4. Regulatory Analysis
5. Peripheral nerve stimulator Market Key Factors Analysis
6. Peripheral nerve stimulator Market Porter’s Five Forces Analysis
7. Peripheral nerve stimulator Market Layout
8. Peripheral nerve stimulator Market Company and Product Profiles
9. KOL Views
10. Project Approach
11. About DelveInsight
12. Disclaimer & Contact Us
About DelveInsight
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