The Global Neuromodulation Devices Market Is Witnessing High Growth Owing To the Increasing Incidence of Neurological Disorders in the World
Market Overview:
Neuromodulation is an advanced technique that uses electronic stimulation to change the firing patterns of neurons within the brain. Neuromodulation is defined as “the selective activation of individual neurons within a living organism, the manipulation of which enables it to resume its natural physiological functions”. Neuromodulation technology involves the use of drugs or ionizing agents which are applied to the body’s tissue to excite the neurons in a region where they have been dormant or inactive for a long period. Neuromodulation techniques have great potential for treating and even curing many health conditions, such as chronic pain, stroke, migraine headaches, depression, movement disorders, and more.
Competitive Landscape:
Major players operating in the global neuromodulation devices market include BioControl Medical, Neuronetics, NeuroPace, NeuroSigma, Nevro Corporation, Synapse Biomedical, Inc., LivaNova, Abbott, Boston Scientific Corporation, and Medtronic.
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Key Market Drivers:
The increasing incidence of neurological disorders in the world is the main factor, which is expected to boost the growth of the global neuromodulation devices market. For instance, according to the National Institutes of Health (NIH), more than 70 million individuals in the world suffer from epilepsy. Neuromodulation offers several benefits to individuals who suffer from neurological impairments such as myasthenia gravis and Parkinson’s disease. The technique can dramatically slow and even reverse the progression of these diseases by training the affected areas of the brain to produce healthy motor activity. Neuromodulation can be applied to the central nervous system and the spinal cord for the treatment of conditions such as MS and degenerative spine problems. Neuromodulation devices that utilize the concept of mechanotransduction offer a unique opportunity to help patients and their families regain control over their lives. Increasing treatment launches by key market players are estimated to drive the growth of the global neuromodulation devices market.
Covid-19 Impact Analysis:
During the ongoing COVID-19 pandemic, the increasing incidence of positive cases has significantly affected the growth of the global neuromodulation devices market. The increasing shuttering down of businesses and constant focus on one niche of healthcare, along with transport restrictions and stay-at-home orders, affected the growth of the market.
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Key Takeaways:
The global neuromodulation market is assessed to increase at a CAGR of 8.6% during the market forecast period, owing to the increasing incidence of neurological disorders in the world along with expanding research in neuromodulation and extensive application of the technology.
North America is expected to hold a major share of the global neuromodulation market, owing to the increasing incidence of neurological disorders in the region. For instance, according to the U.S. Centers for Disease Control and Prevention, around 3.4 million individuals in the nation suffer from epilepsy.
The Asia Pacific is estimated to witness significant growth in the global neuromodulation market, owing to the increasing investment in the research and development sector, focused on healthcare along with the prevalence of key market players in the region.
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Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Device Type
- Market Snippet, By Application
- Market Snippet, By End User
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Technological Advancement
- Regulatory Scenario
- Market Dynamics
- Global Neuromodulation Devices Market, By Device Type, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Spinal Cord Stimulation Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Deep Brain Stimulation Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Sacral Nerve Stimulation Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Vagus Nerve Stimulation Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Gastric Electric Stimulation Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Segment Trends
- Introduction
- Global Neuromodulation Devices Market, By Application, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Pain Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Neurological and Movement Disorder Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Musculoskeletal Disorder Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Metabolism & GIT Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Incontinence Management
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
- Global Neuromodulation Devices Market, By End User, 2017 – 2027 (US$ Mn)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2019–2027
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Specialty Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Ambulatory Centers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
- Introduction
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