Increasing use of neuromodulation for its primary functioning for management of movement disorders, chronic pain, epilepsy, psychiatric disorders, spasticity, and dismotility disorders, among others is a key factor driving market revenue growth.
Market Size - USD 5,786.1 Million in 2020, Market Growth - CAGR of 8.1%, Market Trends - Rising investments in technological advancements by major players and rising demand for neuromodulation from developing regions.
The global neuromodulation market size is expected to reach USD 10.86 Billion in 2028, and register a CAGR of 8.1% during the forecast period. Increasing incidence of deep brain stimulation, vagus nerve stimulation, spinal cord stimulation, gastric electrical stimulation, and sacral nerve stimulation, coupled with need for advanced treatment such as neuromodulation are some of the major factors expected to drive revenue growth of the global neuromodulation market.
Neuromodulation can be described as the alteration of synaptic and neuronal properties by neurons or substances released by neurons. The medical action is usually mediated by G-protein-coupled receptors, which generally impacts some membrane proteins and ion channels. In other words, it is the science of the way in which electrical, mechanical, and chemical interventions can modulate the functioning of the nervous system.
Market Size - USD 5,786.1 Million in 2020, Market Growth - CAGR of 8.1%, Market Trends - Rising investments in technological advancements by major players and rising demand for neuromodulation from developing regions.
The global neuromodulation market size is expected to reach USD 10.86 Billion in 2028, and register a CAGR of 8.1% during the forecast period. Increasing incidence of deep brain stimulation, vagus nerve stimulation, spinal cord stimulation, gastric electrical stimulation, and sacral nerve stimulation, coupled with need for advanced treatment such as neuromodulation are some of the major factors expected to drive revenue growth of the global neuromodulation market.
Neuromodulation can be described as the alteration of synaptic and neuronal properties by neurons or substances released by neurons. The medical action is usually mediated by G-protein-coupled receptors, which generally impacts some membrane proteins and ion channels. In other words, it is the science of the way in which electrical, mechanical, and chemical interventions can modulate the functioning of the nervous system.
Some Key Findings From the Report:
- Among the technology segments, the internal neuromodulation segment accounted for the largest revenue share of 64.5% in the global neuromodulation market in 2020, due to rising incidence rate of chronic leg, back and arm pain, and rising need for applicability of internal neuromodulation in effective management of these chronic pain.
- The Asia Pacific neuromodulation market size was USD 1,330.8 Million in 2020, rising awareness regarding neurological disorders, increasing incidence rate of these disorders, coupled with need for better and advancement treatments and therapies.
- Key players profiled in the report include Boston Scientific Corporation, Medtronic, Inc., Cyberonics, Inc., ST. Jude Medical, Inc., Neurosigma, Inc., Nevro Corporation, Biocontrol Medical, Neuropace, Inc., Neuronetics, Inc. and Synapse Biomedical, Inc. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
- In 2019, Nevro had launched Senza Omnia spinal cord stimulation system. With the help of this new launch, the company would be able to deliver its proprietary HF10 therapy.
For the purpose of this report, the global neuromodulation market is segmented on the basis of technology, biomaterial, application, end use, and region:
Technology Outlook
- Internal Neuromodulation
- External Neuromodulation (Non-Invasive)
Biomaterial Outlook
- Polymeric
- Metallic
- Ceramic
Application Outlook
- Deep Brain Stimulation (DBS)
- Spinal Cord Stimulation (SCS)
- Vagus Nerve Stimulation
- Sacral Nerve Stimulation
- Others
End Use Outlook
- Hospitals
- Clinics
- Home healthcare
Region Outlook
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Neuromodulation Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Neuromodulation Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 4. Neuromodulation Market Segmentation & Impact Analysis
Chapter 5. Neuromodulation Market By Technology Insights & Trends
Chapter 6. Neuromodulation Market By Biomaterial Insights & Trends
Chapter 7. Neuromodulation Market By Application Insights & Trends
Chapter 8. Neuromodulation Market By End-user Insights & Trends
Chapter 9. Neuromodulation Market Regional Outlook
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Companies Mentioned
- Boston Scientific Corporation
- Medtronic Inc.
- Cyberonics Inc.
- ST. Jude Medical Inc.
- Neurosigma Inc.
- Nevro Corporation
- Biocontrol Medical
- Neuropace Inc.
- Neuronetics Inc.
- Synapse Biomedical Inc.
