Neuromodulation is an arising treatment that utilizes a number of electromagnetic spurs, like a drug, an electric current, or a magnetic field inserted directly into a haematoma space. It is an effective option for oral drug consumption because it reduces pain with spinal drug delivery or neuro-stimulation system.
Recognition and new products launch are likely to drive growth in the global neuromodulation devices market by the estimated period. For example, USFDA approved Axonics Modulation Technologies, Inc. in April 2020 for its r-SNM system, a next generation rechargeable insertable neurostimulator.
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Rising funding for Research and Development in neuromodulation devices is likely to offer profitable growth opportunities for market players. For example, Shiratronics, Inc., a private medical equipment company that is developing and medically testing its neuromodulation technology, completed an extra A US$ 3 million in Series A financing in March 2020, and brought the Series A financing totalled US$ 36 million.
The global neuromodulation devices market growth is obstructed by Rapid changes in technology. The technologies included in the work of neuromodulation devices are changing rapidly. This nature of the market makes it unstable and acts as a deterrent to the market as technology becomes obsolete and unnecessary.
The size of the global neuromodulation devices market is estimated to account for US$ 9,298.7 Million in 2021 and during estimated period (2022-2028) it is likely to reach the value of US$ 24,768.8 Million with CAGR of 15.0%. Aspects like increasing rates of neurodegenerative disorders and launches of new products are likely to support market growth over the estimated period.
In 2019, Spinal Cord Stimulation Devices segment leads in the global neuromodulation devices market, considering 53.0% share in terms of value. Launch of products are likely to support growth of the segment by the estimated period. For example, USFDA approved Boston Scientific Corporation in August 2017, for Spectra WaveWriter spinal cord stimulator system, Precision Montage MRI Spinal Cord Stimulator System, Precision Novi Spinal Cord Stimulator System, Precision Spectra Spinal Cord Stimulator System, and Precision Spinal Cord Stimulator System for pain related to leg pain, low back pain, and back surgery.
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Imaging transcranial direct current stimulation is a cost-effective tool for enhancing cognitive and behavioural function. However, determining the optimal treatment procedure to accommodate differences in configuration, complex size, and dramatic conductivity between different tissues is challenging. A review by researchers at the University of Iowa in April 2020 reported that positron emission tomography could be utilized as a highly appropriate biomarker to test whether imaging transcranial direct current stimulation resists cognitive impairment and motor malfunction in the human brain.
Market key players focus on adopting different marketing techniques to increase their market share. For example, Beyonc Inc., attended the annual meeting of the 2020 North American Neuromodulation Society in Las Vegas, Nevada, USA, a medical equipment provider for the treatment of acute pain of peripheral nerve origin in January 2020.
January 2020: Axonics Modulation Technologies, Inc launched the approval of USFDA for the second-generation programmer for the company’s R-SNM system
February 2020: Intizing Holding Corporation, Outsource Manufacturers for Orthopaedics Market, Advanced Surgical Portable Medical, Vascular, Neuromodulation, and Cardiac Designed for Medical Tools, Development and Production Services Inomec LTD.
Key players performing in the global neuromodulation devices market are Uroplasty, Integer Holdings Corporation, Nevro, Cyberonics, Boston Scientific Corporation, St. Jude Medical, Medtronic plc, Neuronetics Inc., LivaNova, Bioness Inc., ShiraTronics Inc., and Axonics Modulation Technologies Inc.
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◘ Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region
The next part also sheds light on the gap between supply and consumption. Apart from the mentioned information, growth rate of Neuromodulation Devices Market in 2028 is also explained. Additionally, type wise and application wise consumption tables and figures of Neuromodulation Devices Market are also given.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Neuromodulation Devices Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Neuromodulation Devices Industry Impact
Chapter 2 Global Neuromodulation Devices Competition by Types, Applications, and Top Regions and Countries
2.1 Global Neuromodulation Devices (Volume and Value) by Type
2.3 Global Neuromodulation Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Neuromodulation Devices Sales, Consumption, Export, Import by Regions
Chapter 5 North America Neuromodulation Devices Market Analysis
Chapter 6 East Asia Neuromodulation Devices Market Analysis
Chapter 7 Europe Neuromodulation Devices Market Analysis
Chapter 8 South Asia Neuromodulation Devices Market Analysis
Chapter 9 Southeast Asia Neuromodulation Devices Market Analysis
Chapter 10 Middle East Neuromodulation Devices Market Analysis
Chapter 11 Africa Neuromodulation Devices Market Analysis
Chapter 12 Oceania Neuromodulation Devices Market Analysis
Chapter 13 South America Neuromodulation Devices Market Analysis
Chapter 14 Company Profiles and Key Figures in Neuromodulation Devices Business
Chapter 15 Global Neuromodulation Devices Market Forecast (2022-2028)
Chapter 16 Conclusions
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