Neuromodulation Devices Market is anticipated to register a CAGR of 11.2% during the forecast period of 2018–2023. Neuromodulation is a technique that acts directly upon the nerves, which, causing alterations in the nerve activity. This is accomplished by delivering electrical or pharmaceutical agents directly onto the target area. There is a surplus of neuromodulation applications, which includes deep brain stimulation (DBS) treatment for Parkinson’s disease, sacral nerve stimulation for pelvic disorders and incontinence, and spinal cord stimulation for ischemic disorders. Increasing incidence of neurological disorder rates like Alzheimer’s and Parkinson’s diseases, and growing elderly population are the major drivers for the market growth during the forecast period.
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However, factors such as high cost of the treatment procedures followed by the stringent government policies and low per capita healthcare expenditures in the middle- and low-income countries may restrain the market growth.
Global Neuromodulation Devices Market – Key Players
- Medtronic (Ireland)
- Accellent (U.S)
- Jude Medical, Inc. (U.S.)
- Synapse Biomedical Inc. (U.S.)
- Nevro Corp (U.S.)
- Boston Scientific Corporation (U.S.)
- NeuroSigma, Inc. (U.S.)
- NeuroPace, Inc. (U.S.)
- Neuronetics, Inc. (U.S.)
- Soterix Medical Inc. (U.S)
- BioControl Medical (Israel)
are some of the prominent players at the forefront of competition in the Global Neuromodulation Devices Market and are profiled in MRFR Analysis.
Global Neuromodulation Devices Market – Segments
The Global Neuromodulation Devices Market is segmented by type, type by application, biomaterial, and end-user.
Based on type, the Global Neuromodulation Devices Market is classified as internal neuromodulation and external neuromodulation (non-invasive).
Internal neuromodulation is further divided into Spinal Cord Stimulation (SCS), Deep Brain Stimulation (DBS), Vagus Nerve Stimulation (VNS), Sacral Nerve Stimulation (SNS), and Gastric Electrical Stimulation (GES).
External neuromodulation (non-invasive) is further classified as Transcutaneous Electrical Nerve Stimulation (TENS), Transcranial Magnetic Stimulation (TMS), and Respiratory Electrical Stimulation (RES).
Based on type by application, the global neuromodulation devices market is classified into Spinal Cord Stimulation (SCS) which is classified as chronic pain management, Failed Back Syndrome (FBSS), and ischemia. Deep Brain Stimulation (DBS) is classified into Parkinson’s disease, tremor, depression, and others. Sacral nerve stimulation is divided into urine incontinence and fecal incontinence. Vagus nerve stimulation is divided into epilepsy and others. Gastric electrical stimulation is divided into gastroparesis and obesity. Transcutaneous electrical nerve stimulation is divided into treatment-resistant depression and others. Repetitive transcranial magnetic stimulation is divided into depression and migraine headache. Respiratory electrical stimulation is divided into spinal cord injury and others.
Based on biomaterial, the global neuromodulation devices market is classified as metallic biomaterials, polymeric biomaterials, and ceramic biomaterials.
Global Neuromodulation Devices Market – Regional Summary
Among regions, North America currently accounts for a noteworthy share of the Neuromodulation Devices Market and expected to present lucrative growth opportunities for players in 2018 and beyond. Presence of leading healthcare technology companies in the region is major advantage for the market in North America. In addition, high healthcare expenditure and awareness about availability of advanced medical treatment modules is propelling the growth of the market in the region. North America is followed by Europe and Asia Pacific (APAC) respectively.
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