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Neuromodulation - Global Market Trajectory & Analytics

  • ID: 5140254
  • Report
  • February 2022
  • Region: Global
  • 298 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Abbott Laboratories
  • Bioness Inc
  • electroCore, Inc.
  • Medtronic
  • NeuroPace, Inc.
  • Nevro Corporation

Global Neuromodulation Market to Reach $8.2 Billion by 2026


Neuromodulation functions through the active stimulation of the nerves to generate a biological reaction or through the direct application of targeted pharmaceutical agents in small doses to the area of action. Neurostimulation devices work by applying electrodes to the spinal cord, brain, or to the peripheral nerves. Growth in the global market is being fueled by the expanding base of people suffering from various illnesses such as urinary incontinence, Parkinson`s disease, spinal cord damage, migraine, and epilepsy. The market is also expected to gain from the rising awareness regarding neurodegenerative and neurological disorders, and expanding application areas. The rising incidence of depression and its associated symptoms, especially among millennials, opens up new opportunities. Furthermore, increasing aging population globally, and growing awareness of the efficacy and safety of neurostimulator devices are aiding market growth.

Amid the COVID-19 crisis, the global market for Neuromodulation estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$8.2 Billion by 2026, growing at a CAGR of 8.2% over the analysis period. Spinal Cord Stimulation, one of the segments analyzed in the report, is projected to grow at a 8.3% CAGR to reach US$3.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Deep Brain Stimulation segment is readjusted to a revised 8.6% CAGR for the next 7-year period. This segment currently accounts for a 16.7% share of the global Neuromodulation market. Spinal Cord Stimulation (SCS) segment is making robust gains, driven by widespread availability of a broad range of commercial SCS products and the expanding range of applications for these devices. SCS systems are used in neurological problems such as arachnoiditis, neuropathy, neuritis, nerve damage, problems related to failed-back surgery, and complex regional pain syndrome. Deep brain stimulation is expected to register considerable growth, owing to its use in the treatment of various neurological conditions such as depression, tremor, Parkinson`s disease, and others. DBS technique is already approved by the US FDA for treating obsessive-compulsive disorder, dystonia, essential tremor, epilepsy, and Parkinson`s disease.



The U.S. Market is Estimated at $2.6 Billion in 2021, While China is Forecast to Reach $597.6 Million by 2026


The Neuromodulation market in the U.S. is estimated at US$2.6 Billion in the year 2021. The country currently accounts for a 48.43% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$597.6 Million in the year 2026 trailing a CAGR of 10% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.9% and 8.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.5% CAGR while Rest of European market (as defined in the study) will reach US$663.5 Million by the end of the analysis period. The US represents the leading regional market, fueled by technological advancements and significant investments made by leading companies for product development. Besides the increasing incidence of neurological diseases and expanding geriatric population, increasing spending on healthcare sector, positive reimbursement framework and presence of several leading industry players in the region are fueling market growth. Highly developed healthcare infrastructure, increased prevalence of diseases and growing approvals for non-invasive devices in Europe have been adding to the demand for these devices. Growth in the Asia-Pacific region is supported by significant prevalence of neurological disorders, the research activities underway, growing investments by private and public players, and increasing initiatives for improving awareness about mental health.

Sacral Nerve Stimulation Segment to Reach $1.2 Billion by 2026


In the global Sacral Nerve Stimulation segment, USA, Canada, Japan, China and Europe will drive the 7.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$696.3 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$70.2 Million by the year 2026.

Select Competitors (Total 83 Featured) -

  • Abbott Laboratories
  • Aleva Neurotherapeutics SA
  • BioControl Medical
  • Bioness Inc
  • Boston Scientific Corporation
  • Cefaly
  • electroCore, Inc.
  • Inspire Medical Systems, Inc.
  • LivaNova PLC
  • Medtronic
  • Neuronetics
  • NeuroPace, Inc.
  • NeuroSigma, Inc.
  • Nevro Corporation
  • Respicardia, Inc
  • Stimwave LLC
  • Synapse Biomedical, Inc.
Frequently Asked Questions about the Global Market for Neuromodulation

What is the estimated value of the Global Market for Neuromodulation?

The Global Market for Neuromodulation was estimated to be valued at $5.1 Billion in 2020.

What is the growth rate of the Global Market for Neuromodulation?

The growth rate of the Global Market for Neuromodulation is 8.2%, with an estimated value of $8.2 Billion by 2026.

What is the forecasted size of the Global Market for Neuromodulation?

The Global Market for Neuromodulation is estimated to be worth $8.2 Billion by 2026.

Who are the key companies in the Global Market for Neuromodulation?

Key companies in the Global Market for Neuromodulation include Abbott Laboratories, Aleva Neurotherapeutics SA, BioControl Medical, Bioness Inc, Boston Scientific Corporation, Cefaly, electroCore, Inc., Inspire Medical Systems, Inc. and Medtronic.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott Laboratories
  • Bioness Inc
  • electroCore, Inc.
  • Medtronic
  • NeuroPace, Inc.
  • Nevro Corporation

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Neuromodulation - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Neurological Disorders
  • A Prelude to Neuromodulation
  • Indications for Neuromodulation Therapy
  • Impact of Covid-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Global Neuromodulation Market Buckles under COVID-19 Strain
  • Effects of COVID-19 on the Nervous System Sheds Focus on Neuromodulation Applications
  • GLOBAL MARKET OVERVIEW
  • Neuromodulation Market Set for a Robust Growth
  • Neuromodulation Market by Segment
  • Spinal Cord Stimulation (SCS) and Deep Brain Stimulation (DBS) Represents the Largest Segments
  • Neuromodulation Devices by Technology
  • Spinal Cord Stimulation Market (2020): Dollar Market Share of Leading Players in Percentage
  • Neuromodulation Market by Application
  • Growing Clinical Applications to Drive Demand
  • US and Europe Dominate the Market
  • Asia-Pacific and other Emerging Regions Display Impressive Growth Potential
  • Competition
  • Select FDA Approved Neuromodulation Devices in Recent Years
  • Recent Market Activity
  • Market Restraints and Challenges
  • WORLD BRANDS

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • High Incidence of Neurological Disorders: A Key Market Driver
  • Annual Incidence of Adult-Onset Neurologic Disorders in the US
  • Rising Geriatric Population and Subsequent Growth in Prevalence of Neurological Disorders
  • Global Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Growing Incidence of Neurodegenerative Diseases Propels the Market for Deep Brain Stimulation Devices
  • Global Alzheimer's Prevalence by Age Group
  • Diagnosed Prevalence Cases of Parkinson’s Disease Across Select Countries
  • Global DBS Market by Leading Player (2020E): Market Share Breakdown of Revenues for Medtronic, Boston Scientific, and Abbott
  • Select Available Deep Brain Stimulation Devices Available in the Market
  • Increasing Cases of Epilepsy Drives the Demand for Vagus Nerve Stimulation Devices
  • Epilepsy Incidence by Type (2019): Percentage Share Breakdown for Idiopathic and Symptomatic Epilepsy
  • Symptomatic Epilepsy Incidence by Type (2019): Percentage Share Breakdown of Congenital, Degenerative, Infective, Neoplastic, Trauma, and Vascular Epilepsy
  • Spinal Cord Injuries Propel the Demand for Spinal Cord Stimulation Devices
  • Recent Developments in Spinal Cord Injury Treatment
  • TENS (Transcutaneous electrical nerve stimulation devices) Market Witnesses Rapid Growth
  • Non-Invasiveness of TMS (Transcranial Magnetic Stimulation) Propelling the adoption of TMS devices
  • Neuromodulation Technologies to Gain Preference Over Opioids
  • Tibial Neuromodulation to Impact Overactive Bladder Market

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)

CANADA

JAPAN

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

REST OF EUROPE

ASIA-PACIFIC

  • Neuromodulation Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

REST OF WORLD

IV. COMPETITION

  • Total Companies Profiled: 83
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Abbott Laboratories
  • Aleva Neurotherapeutics SA
  • BioControl Medical
  • Bioness Inc
  • Boston Scientific Corporation
  • Cefaly
  • electroCore, Inc.
  • Inspire Medical Systems, Inc.
  • LivaNova PLC
  • Medtronic
  • Neuronetics
  • NeuroPace, Inc.
  • NeuroSigma, Inc.
  • Nevro Corporation
  • Respicardia, Inc
  • Stimwave LLC
  • Synapse Biomedical, Inc.
Note: Product cover images may vary from those shown