18-Mar-2020 | Facts and Factors
Findings from Facts and Factors report “Neuromodulation Market By Technology (Internal Neuromodulation and External Neuromodulation), By Application (Chronic Pain Management, Failed back syndrome, Epilepsy, Tremor, Urinary, and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson's Disease, Obsessive-Compulsive Disorder, Migraine, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Neuromodulation market in 2019 was approximately USD 5.5 Billion. The market is expected to grow at a CAGR of 9% and is anticipated to reach around USD 9.5Billion by 2026.
Neurological disorders such as Alzheimer's disease, epilepsy, and Parkinson's disease generally affect the central and peripheral nervous system. There are certain neurological disorders that are caused by bacterial, viral, and fungal infections as well. Thus, there is an urgent need for neuromodulator technologies to manage such disorders by using small electrodes&pulse generators to produce electrical stimulations to supplement neurological activities in subjects.
Browse the full “Neuromodulation Market By Technology (Internal Neuromodulation and External Neuromodulation), By Application (Chronic Pain Management, Failed back syndrome, Epilepsy, Tremor, Urinary and Fecal Incontinence, Depression, Dystonia, Gastroparesis, Parkinson's Disease, Obsessive-Compulsive Disorder, Migraine, and Others), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/global-neuromodulation-market-by-technology-internal-neuromodulation-and-798
Market Drivers:
The key drivers of the global Neuromodulation market are the growing prevalence of neurological disorders and the increasing ongoing research or R&D activities for increasing the application of neuromodulators. Additionally, the growing awareness among the people regarding neurodegenerative disorders helps increase the demand for neuromodulator technologies across the globe. However, the expense of neuromodulator procedures and equipment, the stringent approval policies, and demand for the expert workforce are likely to hinder the global Neuromodulation market growth. The growing geriatric population across the globe increases the number of neurological disorders such as Alzheimer’s and Parkinson’s diseases and the surging awareness regarding the safety and efficacy of neurostimulator devices will further supplement the market growth.
Market Segment Dominance:
- Spinal cord stimulation is expected to dominate the technology segment
The spinal cord stimulation has gained a lot of momentum over the years owing to the increasing incidences of chronic back pain among the people across the globe. This technology is being extensively used to treat peripheral vascular disease, failed back surgery syndrome, refractory angina pectoris, and complex regional pain syndrome.
- Parkinson’s disease held the majority of the market share of the application segment
Parkinson’s disease is expected to hold the majority of the market share owing to the rising incidences of the disease worldwide. In addition, the growing R&D activities in Parkinson’s disease help propel market growth. The increasing government and private programs to surge awareness concerning mental health and prevalence of neurological disorders are expected to fuel the growth of the global Neuromodulation market.
Regional Dominance:
The Asia Pacific is expected to grow at the highest rate in the global Neuromodulation market owing to the growing geriatric population and rising prevalence of neurological disorders in the region. Furthermore, the escalating government and private investments in the ongoing research help boost market expansion.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 5.5 Billion. |
Projected Market Size in 2026 |
USD 9.5Billion |
Growth Rate |
CAGR 9% |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Boston Scientific Corporation, Medtronic, Abbott, Synapse Biomedical, Inc., LivaNova, Nevro Corporation, NeuroPace, NeuroSigma, Neuronetics, and BioControl Medical. |
Key Segment |
By Technology, By Application, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Market Players:
Some of the key market players of the global Neuromodulation market include Boston Scientific Corporation, Medtronic, Abbott, Synapse Biomedical, Inc., LivaNova, Nevro Corporation, NeuroPace, NeuroSigma, Neuronetics, and BioControl Medical.
This report segments the global Neuromodulation market as follows:
Global Neuromodulation Market: Technology Segmentation Analysis
- Internal Neuromodulation
- Spinal Cord Stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Gastric Electrical Stimulation
- External Neuromodulation
- Transcutaneous Electrical Nerve Stimulation (TENS)
- Transcranial Magnetic Stimulation (TMS)
- Respiratory Electrical Stimulation (RES)
Global Neuromodulation Market: ApplicationSegmentation Analysis
- Chronic Pain Management
- Failed Back Syndrome
- Epilepsy
- Tremor
- Urinary and Fecal Incontinence
- Depression
- Dystonia
- Gastroparesis
- Parkinson's Disease
- Obsessive-Compulsive Disorder
- Migraine
- Others
Global Neuromodulation Market: Regional Segmentation Analysis
- North America
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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