The Rising Non-invasive Neurostimulation Devices Market Is Driven By Increasing Incidences Of Neurological Disorders

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The Non-Invasive Neurostimulation Devices Market includes medical devices which help stimulate the brain and spinal nerves through the skin or other external means without the need for surgery. Non-Invasive neurostimulation techniques such as transcranial magnetic stimulation and transcranial direct current stimulation are gaining prominence in the treatment of various neurological and psychiatric conditions such as depression, anxiety, migraines and Parkinson's disease due to advantages such as lower risk, cost and portability compared to invasive options.
The Non-Invasive Neurostimulation Devices Market is estimated to be valued at US$ 1.3 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the non-invasive neurostimulation devices are AcuKnee, AxioBionics, BioMedical Life Systems, HiDow, CEFALY Technology. AcuKnee offers FDA cleared neuromuscular electric stimulation devices for knee pain and weakness. AxioBionics provides non-invasive brain stimulation device Zappy for improving cognitive performance.
The growing global ...
... incidence of neurological disorders including Alzheimer's disease, Parkinson's disease, depression and migraine is a major factor driving the demand for non-invasive neurostimulation devices. Furthermore, rising geriatric population which is more susceptible to such conditions also contributes to market growth.
Owing to the non-invasive nature and portability of these devices, manufacturers are focusing on global expansion opportunities particularly in developing countries. Increasing awareness and acceptance of neurostimulation therapies and favorable reimbursement policies in major markets will further support the global adoption of non-invasive neurostimulation devices over the forecast period.
Market Drivers
The increasing incidences of neurological disorders across the world is a key driver propelling the non-invasive neurostimulation devices market. According to the WHO, neurological disorders affect over a billion people globally with debilitating conditions such as Alzheimer's, migraine, Parkinson's on the rise. The economic and personal burden of these disorders has prompted increased focus on developing affordable and low-risk treatment alternatives such as non-invasive neurostimulation. The growing geriatric population which is more susceptible to neurological illness also increases the target population base for non-invasive neurostimulation devices.
The Impact Of Current Geopolitical Situation On The Growth Of Non-Invasive Neurostimulation Devices Market:
The global geopolitical conflicts and tensions are negatively impacting the growth of the non-invasive neurostimulation devices market. Due to rising conflicts between major economies like US and China, international trade relations have taken a hit. This has disrupted the import and export of key medical components and technologies used in manufacturing non-invasive neurostimulation devices. With supply chain disruptions on the rise, device makers are facing shortages of crucial raw materials and parts. They are struggling to meet production targets, resulting in device shortages across markets.
The ongoing Russia-Ukraine war and sanctions on Russia have further exacerbated the supply issues. Russia is a major exporter of raw materials like palladium and neon gases that are essential in manufacturing these devices. With sanctions restricting trade with Russia, manufacturers have to rely on alternative suppliers at much higher costs. This is significantly driving up device prices, lowering their adoption rates globally.
To overcome these geopolitical challenges, manufacturers will need to diversify their supply sources, establish local partnerships and move production bases closer to key markets. They also need to focus on developing cost-effective and locally sourable alternatives for import-dependent components. Building strategic reserves of critical materials can help insulate themselves from future supply disruptions due to geopolitical conflicts and economic uncertainties. Pursuing open trade policies and collaborations between governments can help stabilize international trade relations and create a conducive environment for market growth.
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Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163 )

What Are The Key Data Covered In This Non-Invasive Neurostimulation Devices Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Non-Invasive Neurostimulation Devices Market's growth between 2024 and 2031.
:- Accurate calculation of the size of the Non-Invasive Neurostimulation Devices Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Non-Invasive Neurostimulation Devices Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Non-Invasive Neurostimulation Devices Market vendors
FAQ’s
Q.1 What are the main factors influencing the Non-Invasive Neurostimulation Devices Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Non-Invasive Neurostimulation Devices Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Non-Invasive Neurostimulation Devices Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it