18-Jun-2020 | Facts and Factors
Findings from Facts and Factors report “Neuromodulation Devices Market By Technology (Internal Neuromodulation (Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation, and Others), and External Neuromodulation), By Application (Chronic Pain Management, Failed back syndrome, Epilepsy, Tremor, Incontinence, Depression, Dystonia, Gastroparesis, Parkinsons disease, Obsessive-Compulsive Disorder, Migraine), and By Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, and Ceramic Biomaterials): 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 Devices market in 2019 was approximately USD 5.3 Billion. The market is expected to grow at a CAGR of 8.6% and is anticipated to reach around USD 9.5 Billion by 2026.
Neurological disorders may be due to congenital abnormalities, infections, or living an unhealthy lifestyle. The types of disorders include epilepsy, cerebrovascular diseases, multiple sclerosis, Parkinson's disease, brain tumors, neuro-infections, migraine and traumatic disorders of the nervous system due to head trauma among other disorders. To treat such diseases; neuromodulation devices are used. These are advanced medical instruments that enhance the functions of the nervous system. Neuromodulation devices target every part of the body and treat conditions including damage to the spinal cord, tremors, headaches, and urinary incontinence.
Browse the full “Neuromodulation Devices Market By Technology (Internal Neuromodulation (Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation, and Others), and External Neuromodulation), By Application (Chronic Pain Management, Failed back syndrome, Epilepsy, Tremor, Incontinence, Depression, Dystonia, Gastroparesis, Parkinsons disease, Obsessive-Compulsive Disorder, Migraine), and By Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, and Ceramic Biomaterials): 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/neuromodulation-devices-market-by-technology-internal-neuromodulationdeep-brain-1213
The growing geriatric population in developed economies is raising the demand for neuromodulation devices. In addition, clinical evidence encouraging the use of neurostimulation to treat various disorders and rising innovation in drug development drives the growth of the sector. Moreover, the advancement of technology in the range of application areas will raise the demand for neuromodulation devices in the next few years. Additionally, government measures to raise awareness about the rising occurrences of neurological disorders and mental wellbeing drives the growth of the sector in the Asia Pacific region. However, high capital investment and a lack of skilled workers are limiting the growth of the market. Furthermore, the expanding reach in emerging economies is expected to generate substantial growth opportunities for players operating on the market for neuromodulation.
The neuromodulation devices market is segmented based on technology, and application. On the basis of technology segmentation, the market is classified into internal neuromodulation, and external neuromodulation. The internal neuromodulation has been classified into vagus nerve stimulation (VNS), spinal cord stimulation (SCS), sacral nerve stimulation (SNS), deep brain stimulation (DBS), and Others. The internal neuromodulation segment held the major share of the market. The growth is due to the advancements in technologies, and improved implantation methods. Moreover, the application segment in neuromodulation devices market is bifurcated into chronic pain, movement disorders, psychiatric conditions, gastroenterology & urology and other applications. The pain management held the major share of the market. Furthermore, the biomaterial segmentation has been classified into metallic biomaterials, polymeric biomaterials, and ceramic biomaterials.
On the basis of the geography, the neuromodulation devices market has been analyzed into North America, Latin America, Asia Pacific, Middle East and Africa. North America is currently dominating the market owing to high prevalence of conditions such as chronic pain, epilepsy, and Parkinson’s disease. Europe holds the second largest position in terms of regional market share owing to the developments of better neuromodulation devices. Due to increased public and private spending, high incidence of neurological disorders, and ongoing research, the Asia Pacific is projected to be the fastest growing region. Furthermore, the regions are analyzed into major countries including China, Japan, India, Australia, U.S., Mexico, Germany, UK, Canada, South Korea, Italy, India, Japan, Brazil, UAE, Egypt, France, China, South Africa, and Kuwait among others.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 5.3 Billion |
Projected Market Size in 2026 |
USD 9.5 Billion |
CAGR Growth Rate |
8.6% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Medtronic Plc, Abbott Laboratories, Boston Scientific Corporation, LivaNova Plc, Nevro Corporation, Inspire Medical System Inc., Nuvectra, Neuropace Inc., Bioness Inc., Beijing PINS Medical Co., Ltd., Laborie Medical, and Neuronetics, Inc., and Others |
Key Segment |
By Technology, Application, Biomaterial and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the essential players operating in the neuromodulation devices market, but not restricted to include
Medtronic Plc, Abbott Laboratories, Boston Scientific Corporation, LivaNova Plc, Nevro Corporation, Inspire Medical System Inc., Nuvectra, Neuropace Inc., Bioness Inc., Beijing PINS Medical Co., Ltd., Laborie Medical, and Neuronetics, Inc. among others.
This report segments the neuromodulation devices market as follows:
By Technology Segmentation Analysis
- Internal Neuromodulation
- Sacral Nerve Stimulation
- Deep Brain Stimulation
- Vagus Nerve Stimulation
- Spinal Cord Stimulation
- Others
- External Neuromodulation
By Application Segmentation Analysis
- Chronic Pain Management
- Failed back syndrome
- Epilepsy
- Tremor
- Incontinence
- Depression
- Dystonia
- Gastroparesis
- Parkinsons disease
- Obsessive-Compulsive Disorder
- Migraine
By Biomaterial Segmentation Analysis
- Metallic Biomaterials
- Polymeric Biomaterials
- Ceramic Biomaterials
By Regional Segmentation Analysis
- North America
- Europe
- France
- The UK
- Spain
- Germany
- 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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