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Global Neuromodulation Devices Market Outlook 2021: Global Opportunity and Demand Analysis, Market Forecast to 2028

  • ID: 5559749
  • Report
  • February 2022
  • Region: Global
  • 123 Pages
  • Insure Insights
The neuromodulation devices market is anticipated to grow with a CAGR of 6.5% over the forecast period of 2019-2028. According to this study on the neuromodulation devices market, the increasing prevalence of neurological disorders, the rise in research, and expanding applications of neuromodulation are considered some of the major factors which are driving the growth of the market. Similarly, the increasing awareness of neurodegenerative disorders across the globe and the development of new clinical devices and technology to overcome neurological diseases are also fueling market growth.

Top Driver: Increase in the Number of Neurological DiseasesPatients and Rising Cases of Migraine Patients are Driving the Neuromodulation Devices Market


Neuromodulation is a type of technology that directly acts upon nerves. This type of technique delivers pharmaceutical agents or electrical stimulation to a targeted region of the nerves within the body. The growing geriatric population across regions such as Asia-Pacific and Europe is leading to an increase in neurological disorders, which is directly impacting the growth of the neuromodulation devices market. For instance, according to data from the Alzheimer's Association in 2017, around 5.5 million Americans had Alzheimer's, of which almost 5.3 million of the population were 65 years or more, which is also increasing the demand for these devices to enhance the quality of their lives. Additionally, the increase in the need for these devices to improve the quality of life of individuals who are suffering from urinary and faecal incontinence, chronic pain, essential tremor, epilepsy, Parkinson’s disease, dystonia, and psychological disorders


Additionally, initiatives taken by private firms and the government to increase awareness associated with neurological disorders and mental health among individuals are growing the market. Furthermore, the agencies present in Japan associated with pharmaceutical and medical device agencies have approved several neurostimulators for pain management since 2010, which include the Eon Mini Precision Spectra by Boston Scientific, St. Jude, and Genesis Spinal Cord Stimulation (SCS) systems.

Neuromodulation Devises to Make Crucial Contributions to the Growth of the Global Neuromodulation Devices Market


Based on the product type, the neuromodulation devices market has been segmented as spinal cord stimulators (SCS), deep brain stimulators (DBS), vagus nerve stimulators (VNS), and sacral nerve stimulators (SNS), and transcranial magnetic stimulators (TMS). Spinal cord stimulators (SCS) hold the largest share of product type segments. The increasing prevalence of spinal cord diseases or disorders is fueling the growth of the market. Similarly, the rise in spinal cord issues associated with the ageing population is also demanding neuromodulation devices, which is also fueling the growth of the market.

Based on end-users, the global neuromodulation devices market has been segmented into hospitals and speciality clinics. Hospitals hold the largest share of the high-paying capacity for adopting new and advanced technology. Further, the presence of a well-equipped infrastructure is also driving the growth of the market.

The market is being driven by North America's established healthcare industry.

North America has well-developed facilities and infrastructure as compared to other regions. The various medical science, pharmaceutical, and medical device manufacturing companies, R&D centres, healthcare companies, and well-established hospitals and clinics are driving the market's growth. Additionally, a rise in the geriatric population in the region is further fueling the growth of the market. Based on countries, the North American region has been segmented as the US and Canada. Technological advancement in countries and increasing investments in the development of new technology are considered to be fueling the growth of the market.

Players to Focus on the Development of New Devices and Technology


The global Neuromodulation Devices market is expected to grow with a significant CAGR due to the presence of various companies St. Jude Medical, Inc., LivaNova PLC, Boston Scientific Corporation, Aleva Neurotherapeutics SA, Bioness Inc., EnteroMedics Inc, Nevro Corporation, NeuroPace Inc., Synapse Biomedical, Inc., Neurosigma, Inc., Neuronetics, Inc., Cyberonics, Inc., BioControl Medical, Accellent, DynaMD, Soterix Medical, Inc. and others which are developing new products and technology which is leading to drive the market growth.

Abbott: In September 2019, Abbott Inc., a US-based healthcare company, received FDA approval for Proclaim XR, a neurostimulation system used to treat chronic pain patients. These systems are being developed to send doses to change the pain signals from the spinal cord to the brain.

NeuroSigma partnered with Teijin Limited in 2019 to market NeuroSigma's Monarch eTNS system in Japan. , this also led to the expansion of the company in Japan.

Scope of the Report


By Product Type

  • Spinal Cord Stimulators (SCS)
  • Deep Brain Stimulators (DBS)
  • Vagus Nerve Stimulators (VNS)
  • Sacral Nerve Stimulators (SNS)
  • Transcranial Magnetic Stimulators (TMS)

By Type

  • Internal
  • External

By Application

  • Pain Management
  • Neurological Disorders
  • Respiratory Disorders

By End-User

  • Hospitals
  • Specialty Clinics

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Key Reasons to Purchase this Report


1. It provides a technological development map over time to understand the growth rate of the industry.

2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.

3. It renders a definite analysis of changing competitive dynamics.

4. It builds a seven-year estimate based on how the market is predicted to grow.

Table of Contents

Chapter 1 Overview And Scope
1.1 Market Vision
1.1.1 Market Definition
1.1.2 Market Scope
1.2 Market Segmentation
Chapter 2 Executive Summary
Chapter 3 Global Neuromodulation Devices Market Forces
3.1 What’s Driving the Market
3.2 Porter’s Five Forces Analysis
3.2.1 Power of Suppliers
3.2.2 Threats From New Entrants
3.2.3 Power of Buyer
3.2.4 Threat From Substitute Product Type
3.2.5 Degree of Competition
Chapter 4 Global Neuromodulation Devices Market -Industry Snapshots
4.1 Overview
4.1.1 Global Neuromodulation Devices Market Value, 2019 - 2026, (US$ Mn)
4.2 Market Overview
4.2.1 Drivers Analysis
4.2.2 Restraint/Challenges analysis
4.2.3 Opportunity Analysis
4.3 Supply Chain/Value Chain Analysis
4.4 Market SWOT Analysis
Chapter 5 Global Neuromodulation Devices Market Analysis, By Type
5.1 Overview
5.2 Internal
5.3 External
Chapter 6 Global Neuromodulation Devices Market Analysis, by Product Type
6.1 Overview
6.1.1 Spinal Cord Stimulators (SCS)
6.1.2 Deep Brain Stimulators (DBS)
6.1.3 Vagus Nerve Stimulators (VNS)
6.1.4 Sacral Nerve Stimulators (SNS)
6.1.5 Transcranial Magnetic Stimulators (TMS)
Chapter 7 Global Neuromodulation Devices Market Analysis, by End-User
7.1 Overview
7.1.1 Hospitals
7.1.2 Specialty Clinics
Chapter 8 Global Neuromodulation Devices Market Analysis, by Application
8.1 Overview
8.1.1 Pain Management
8.1.2 Neurological Disorders
8.1.3 Respiratory Disorders
Chapter 9 Neuromodulation Devices Market Analysis by Region
9.1 Key Findings for Neuromodulation Devices Market- By region
9.2 Overview
9.2.1 Global Neuromodulation Devices Market Analysis, By Type, 2019 - 2026
9.2.2 Global Neuromodulation Devices Market Analysis, By Product Type, 2019 - 2026
9.2.3 Global Neuromodulation Devices Market Analysis, By End-user, 2019 - 2026
9.2.4 Global Neuromodulation Devices Market Analysis, By Application, 2019 - 2026
9.3 Neuromodulation Devices Market - North America
9.3.1 Overview
9.3.2 U.S.
9.3.3 Canada
9.3.4 Mexico
9.4 Neuromodulation Devices Market - Europe
9.4.1 Overview
9.4.2 Germany
9.4.3 United Kingdom
9.4.4 France
9.4.5 Italy
9.4.6 Rest Of Europe
9.5 Neuromodulation Devices Market - Asia Pacific
9.5.1 Overview
9.5.2 China
9.5.3 Japan
9.5.4 India
9.5.5 Rest of APAC
9.6 Neuromodulation Devices Market - Rest of the World
9.6.1 Overview
9.6.2 Middle East & Africa (MEA)
9.6.3 Latin America
Chapter 10 Market Competition Analysis
10.1 Market Share/Positioning Analysis
10.1.1 Market Positioning of Key Neuromodulation Devices Vendors, 2018
10.1.2 Key Strategies Adopted by the Leading Players
Chapter 11 Company Profiles- Snapshot
11.1 St. Jude Medical, Inc.
11.2 LivaNova PLC
11.3 Boston Scientific Corporation
11.4 Aleva Neurotherapeutics SA
11.5 Bioness Inc.
11.6 EnteroMedics Inc
11.7 Nevro Corporation
11.8 NeuroPace Inc.
11.9 Synapse Biomedical, Inc.
11.10 Neurosigma, Inc.
11.11 Neuronetics, Inc.
11.12 Cyberonics, Inc.
11.13 BioControl Medical
11.14 Accellent
11.15 DynaMD
11.16 Soterix Medical, Inc.
*More than 10 Companies are profiled in this Research Report*
*Financials would be provided on a best efforts basis for private companies"
Chapter 12 Appendix
12.1 Research Methodology
12.2 Data Triangulation
12.3 Data Sources
12.4 Assumptions
12.5 Approach Adopted
12.6 Disclaimer

Methodology

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