The global neuromodulation market is poised to cross US$ 5 Billion mark by 2021. Neuromodulation is a technology that acts directly upon nerves. It is the alteration-or modulation-of nerve activity by delivering electrical or pharmaceutical agents directly to a target area. Neuromodulation devices and treatments are life changing. They affect every area of the body and treat nearly every disease or symptom from headaches to tremors to spinal cord damage to urinary incontinence. With such a broad therapeutic scope, and significant ongoing improvements in biotechnology, the neuromodulation is poised as a major growth industry for the next decade. The market growth is attributed to factors such as an increased adoption of neuromodulation devices, ageing population, rising prevalence of diseases relevant to neuromodulation, technological advancements and deal making activity globally. However, the factors such as regulatory standards and compliance, negative social perception and a dearth of skilled neurosurgeons are restraining the growth of neuromodulation market globally.
By Technology Neuromodulation Market Analysis – In terms of technology, Spinal cord stimulation (SCS) is the largest segment of the market and is mostly indicated for treatment of chronic pain. Deep brain stimulation (DBS) represents the second largest segment within the neuromodulation market being followed by Sacral nerve stimulation (SNS) at the third spot in 2015. The VNS segment stands at the fourth spot with around XX% share of the neuromodulation market in 2015.
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By Applications Neuromodulation Market Analysis – In terms of applications, Chronic pain is the leading application segment of the neuromodulation market. The urinary and fecal incontinence market is the second largest application segment of the neuromodulation market. Refractory epilepsy holds third highest share of the neuromodulation market in 2015 being followed by Parkinson’s disease. The Gastroparesis and Essential Tremor applications segment are competing closely with each other to grab maximum share of the pie.
Neuromodulation Market Regional Analysis – Geographically, North America is at the forefront of neuromodulation innovation, accounting for lion’s share of the global neuromodulation market in 2015. Europe is the second leading region for neuromodulation market and it is likely to remain at this position throughout the forecasting period. Japan captured third highest share of the global neuromodulation market in 2015. While China and brazil are competing closely with each other to grab maximum share of the market. In Latin American countries, Mexico and Brazil represent significant market potential for neuromodulation manufacturers.
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Neuromodulation Market Company Analysis – Medtronic has been the dominant market player in the global neuromodulation market. However, it is facing increased competition from other players operating in the neuromodulation market. Boston Scientific is the second leading player for neuromodulation market capturing XX% share in 2015. St. Jude Medical is the third largest player by market share in the overall neuromodulation market. While, LivaNova (Cyberonics) and Nevro Corp. stands at the fourth and fifth spot respectively in the global neuromodulation market space.
iGATE RESEARCH report titled “Neuromodulation Market (by Technology, Applications Segment, Region and Company) and Forecast to 2021 – Global Analysis” provides a comprehensive assessment of the fast-evolving, high-growth global neuromodulation market. This report covers various aspects of the neuromodulation market including Technological Segment, Applications Segment, Regional Market, Company Sales and Product Portfolio Analysis, Major Deals in Neuromodulation Market landscape, and Growth Drivers and Challenges influencing global neuromodulation market.
Major List of Table
Table 3-1: By Applications – Neuromodulation Market Share (Percent), 2010 – 2015
Table 3-2: By Applications – Forecast for Neuromodulation Market Share (Percent), 2016 – 2021
Table 3-3: By Region – Neuromodulation Market Share (Percent), 2010 – 2015
Table 3-4: By Region – Forecast for Neuromodulation Market Share (Percent), 2016 – 2021
Table 4-1: Sacral Nerve Stimulation (SNS) FDA Approved Indication by Year of Approval
Table 8-1: Global Neuromodulation Market – Major Deals (2011 – 2016)
Table 9-1: United States: Prevalence of Therapeutic Areas Relevant to Neuromodulation
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