Richmond, Feb. 29, 2024 (GLOBE NEWSWIRE) -- According to a research report "Implantable Pulse Generator Market”, by Functionality (Single-Chamber IPGs, Dual-Chamber IPGs, Biventricular IPGs, Rate-Adaptive IPGs), Lead Placement (Endocardial Leads, Epicardial Leads, Subcutaneous Leads), Applications (Cardiac IPGs {Pacemakers, Defibrillators}, Neurostimulation IPGs, Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators) and Region - Global Forecast to 2030.
Global Implantable Pulse Generator Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 108.9 Billion |
| Market size value in 2030 | USD 194.3 Billion |
| CAGR (2023-2030) | 8.6% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Functionality, Lead Placement, Applications,End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Implantable Pulse Generator Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global Implantable Pulse Generator (IPG) market is witnessing a substantial growth in recent years, driven by the rising prevalence of chronic pain conditions, neurological disorders, and the increasing adoption of neuromodulation therapies. The market is characterized by a surge in demand for advanced and technologically sophisticated IPGs, offering innovative solutions for pain management and neurological disorders. Key drivers of the Implantable Pulse Generator market include the escalating incidence of chronic pain conditions such as neuropathic pain, migraine, and back pain. Additionally, a growing aging population, coupled with an increasing awareness regarding the benefits of neuromodulation therapies, has further propelled market expansion. Technological advancements, particularly in battery life, wireless connectivity, and miniaturization of devices, have also played a pivotal role in stimulating market growth.
However, the Implantable Pulse Generator market is not without its challenges. Stringent regulatory requirements, particularly for product approvals, pose a significant hurdle for market players. Moreover, the high cost associated with IPG devices and the limited reimbursement scenario in certain regions may impede market growth to some extent. Opportunities abound in the IPG market, driven by ongoing research and development activities aimed at introducing novel therapies and expanding the range of indications. The integration of artificial intelligence and machine learning in neuromodulation devices is poised to revolutionize treatment approaches, creating new avenues for growth.
Major vendors in the global Implantable Pulse Generator Market are
- Abbott
- Biotronik
- Heraeus
- Medtronic
- Integer Holdings Corporation
- Boston Scientific Corporation
- Cirtec
- Nalu Medical
- Valtronic
- Avtech Electrosystems
- Others
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Expanding Applications in Emerging Medical Fields
The implantable pulse generator market is witnessing a significant surge in growth, largely propelled by the expanding applications of neuromodulation therapies in emerging medical fields. Implantable pulse generators, which deliver controlled electrical stimulation to targeted nerves or areas of the body, are increasingly being utilized beyond traditional pain management and neurology applications. The versatility of implantable pulse generators allows for their use in a wide range of therapeutic applications beyond pain management and neurological disorders. Emerging medical fields such as cardiac rhythm management, urology, gastrointestinal disorders, and psychiatric conditions are increasingly adopting neuromodulation therapies facilitated by IPGs. This diversification of applications is significantly expanding the addressable market for implantable pulse generators. Ongoing research and clinical trials are uncovering new therapeutic uses for neuromodulation therapies and implantable pulse generators. Researchers are exploring the potential of IPGs in treating conditions such as overactive bladder, fecal incontinence, gastroparesis, and psychiatric disorders like depression and obsessive-compulsive disorder. Positive trial outcomes are driving interest from both clinicians and patients, fueling market growth.
Market Dynamics
Drivers:
- Expanding Applications in Emerging Medical Fields
- Rising Prevalence of Chronic Pain and Neurological Disorders
Opportunities:
- Technological Advancements and Miniaturization
- Rising Geriatric Population and Increasing Chronic Conditions
Technological Advancements and Miniaturization
The Global Implantable Pulse Generator (IPG) market is poised for significant growth due to ongoing advancements in technology and the miniaturization of implantable devices. As manufacturers continue to innovate, developing smaller and more sophisticated IPGs, there is a substantial opportunity to cater to patient demands for less invasive and more discreet solutions. This trend not only enhances patient comfort but also expands the potential applications of IPGs across various medical conditions. The market stands to benefit from investments in research and development, driving the creation of next-generation IPGs that offer improved performance, longer battery life, and enhanced connectivity features.
North America dominates the market for Implantable Pulse Generator.
The region benefits from a strong healthcare infrastructure featuring cutting-edge medical facilities and technology, which encourages widespread adoption of IPGs. North America hosts prominent manufacturers and research institutions specializing in neuromodulation, fostering innovation and advancements in the IPG market. Promising reimbursement policies and substantial healthcare spending, particularly in countries such as the United States, play a pivotal role in enhancing the accessibility and affordability of IPGs for patients. These factors combine to position North America as a dominant force in the global IPG market.
The Single-Chamber IPGs Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Implantable Pulse Generator Market, the Functionality segment comprises various categories such as Single-Chamber IPGs, Dual-Chamber IPGs, Biventricular IPGs, Rate-Adaptive IPGs, and Others. The Single-Chamber Implantable Pulse Generators (IPGs) segment within the Global Implantable Pulse Generator market pertains to devices designed with a solitary stimulation chamber. These IPGs are integral components of neuromodulation systems used to manage various medical conditions such as chronic pain, neurological disorders, and movement disorders. The single-chamber configuration is typically employed when targeted therapeutic stimulation requires a more straightforward approach. Factors influencing the growth of this segment include increasing prevalence of chronic diseases, advancements in neuromodulation technologies, and a rising aging population.
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