Report : Middle East & Africa Neurostimulation Devices Market Forecast to 2030 - Regional Analysis - by Product (Spinal Cord Stimulator, Deep Brain Stimulator, Sacral Nerve Stimulator, Vagus Nerve Stimulator, and Others), Application (Pain Management, Epilepsy, Urinary and Fecal Incontinence, Parkinson's Disease, and Others), and End User (Hospitals, Specialty Clinics, and Others)
At 6.8% CAGR, Middle East & Africa Neurostimulation Devices Systems Market is Speculated to be Worth US$ 273.31 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Middle East & Africa neurostimulation devices market was valued at US$ 160.90 million in 2022 and is expected to reach US$ 273.31 million by 2030, registering a CAGR of 6.8% from 2022 to 2030. Increasing prevalence of neurological disorders and rising cases of spinal cord injury are among the critical factors attributed to the Middle East & Africa neurostimulation devices market expansion.
Geriatric population is susceptible to neurological diseases. Common neurological disorders affecting older people are neuropathy, Parkinson's disease, Alzheimer's disease, dystonia, and others. As per the National Institutes of Health (NIH), 8.5% of the world's population (i.e., around 617 million people) is aged 65 years and above. According to the WHO, nervous disorders contribute to ? 6.3% of the global disease burden. Also, according to the same source, the disorders are one of the leading causes of deaths across the world. They cause 13.2% of deaths in developed countries and 16.8% in low- and middle-income countries. High mortality and disease burden necessitate the clinical urgency for integrating long-term solutions. Furthermore, growing awareness regarding the tremendous burden of neurological disorders has increased the demand for neurostimulators as a therapy. Therefore, the growing geriatric population prone to neurological diseases, increasing prevalence of the diseases, and rising awareness regarding the tremendous burden of neurological disorders drive the neurostimulation devices market growth.
On the contrary, lack of expert professionals hampers the growth of Middle East & Africa neurostimulation devices market.
Based on product, the Middle East & Africa neurostimulation devices market is categorized into spinal cord stimulator, deep brain stimulator, sacral nerve stimulator, vagus nerve stimulator, and others. The spinal cord stimulator segment held 50.4% market share in 2022, amassing US$ 81.05 million. It is projected to garner US$ 142.13 million by 2030 to expand at 7.3% CAGR during 2022-2030.
In terms of application, the Middle East & Africa neurostimulation devices market is segmented into pain management, epilepsy, urinary and fecal incontinence, Parkinson's disease, and others. The pain management segment held 51.9% share of Middle East & Africa neurostimulation devices market in 2022, amassing US$ 83.58 million. It is projected to garner US$ 147.45 million by 2030 to expand at 7.4% CAGR during 2022-2030.
By end user, the Middle East & Africa neurostimulation devices market is categorized into hospitals, specialty clinics, and others. The hospitals segment held 58.6% share of Middle East & Africa neurostimulation devices market in 2022, amassing US$ 94.31 million. It is projected to garner US$ 162.65 million by 2030 to expand at 7.1% CAGR during 2022-2030.
Based on country, the Middle East & Africa neurostimulation devices market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 40.1% share of Middle East & Africa neurostimulation devices market in 2022. It was assessed at US$ 64.54 million in 2022 and is likely to hit US$ 107.99 million by 2030, exhibiting a CAGR of 6.6% during 2022-2030.
Key players operating in the Middle East & Africa neurostimulation devices market are Medtronic Plc, Boston Scientific Corp, Abbott Laboratories, and LivaNova Plc, among others.
- In January 2021, Medtronic Announced FDA Approval of its Next Generation Recharge-Free Spinal Cord Stimulation Platform.
- In December 2022, Abbott launched the world's smallest implantable, rechargeable spinal cord stimulation system for chronic pain.
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