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Global Neuromodulation Devices Market Report and Forecast 2023-2031

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    Report

  • 140 Pages
  • April 2023
  • Region: Global
  • Expert Market Research
  • ID: 5780630
The global neuromodulation devices market is expected to witness significant growth in the coming years, driven by factors such as the increasing prevalence of neurological disorders, the rise in the geriatric population, and advancements in neuromodulation technologies. The market is likely to grow at a rate of 10.25% in the forecast period of 2023-2031 to reach a market value of USD 19.10 billion by 2031.

Neuromodulation Devices Market: Introduction

The global neuromodulation devices market refers to the market for medical devices used to deliver electrical or chemical stimulation to the nervous system. Neuromodulation devices are primarily used for the treatment of neurological disorders such as chronic pain, Parkinson's disease, epilepsy, and depression. The market is being driven by factors such as the increasing prevalence of neurological disorders, the rise in the geriatric population, and advancements in neuromodulation technologies.

Neuromodulation Devices Market- Application and Usage

Neuromodulation devices are primarily used for the treatment of neurological disorders such as chronic pain, Parkinson's disease, epilepsy, and depression. These devices work by delivering electrical or chemical stimulation to specific areas of the nervous system to modulate its activity and restore normal functioning. Neuromodulation therapies involve the delivery of electrical or chemical stimulation to specific areas of the nervous system to modulate its activity and restore normal functioning. These therapies have been shown to be effective in reducing pain, improving motor symptoms, and enhancing mood in patients with neurological disorders.

One of the most common applications of neuromodulation devices is in the treatment of chronic pain. Spinal cord stimulators and peripheral nerve stimulators are often used to manage pain that is refractory to other treatments. These devices work by delivering electrical impulses to the nerves that transmit pain signals, thereby reducing the sensation of pain.

Neuromodulation devices are also used in the treatment of movement disorders such as Parkinson's disease and essential tremor. Deep brain stimulators are implanted in the brain and deliver electrical impulses to specific areas to help control tremors and other symptoms.

Epilepsy is another condition that can be treated using neuromodulation devices. Vagus nerve stimulators are often used in the treatment of epilepsy that is refractory to medications. These devices work by delivering electrical impulses to the vagus nerve, which can help reduce the frequency and severity of seizures. Neuromodulation devices are also used in the treatment of depression. Transcranial magnetic stimulators are non-invasive devices that deliver magnetic pulses to the brain to help regulate mood.

Overall, neuromodulation devices are an important tool in the treatment of a variety of neurological disorders. They offer a minimally invasive alternative to traditional treatments and can improve the quality of life for patients with these conditions.

Neuromodulation Devices Market Segmentations

The market can be categorised into type, application, indication, distribution channel, and region.

Market Breakup by Type

  • Invasive
  • Non-Invasive
  • Others

Market Breakup by Application

Internal Neuromodulation

  • Spinal Cord Stimulation
  • Deep Brain Stimulation
  • Vagus Nerve Stimulation
  • Sacral Nerve Stimulation
  • Gastric Electric Stimulation

External Neuromodulation

  • Transcutaneous Electrical Nerve Stimulation
  • Transcranial Magnetic Stimulation
  • Respiratory Electrical Stimulation
  • Others

Market Breakup by Indication

  • Pain Management
  • Neurological Disorders
  • Respiratory Disorders
  • Others

Market Breakup by Distribution Channels

  • Hospitals
  • Testing Laboratories
  • Research Laboratories

Neuromodulation Devices Market Breakup by Region

North America

  • United States of America
  • Canada

Europe

  • United Kingdom
  • Germany
  • France
  • Italy
  • Others

Asia Pacific

  • China
  • Japan
  • India
  • ASEAN
  • Australia
  • Others

Latin America

  • Brazil
  • Argentina
  • Mexico
  • Others

Middle East and Africa

  • Saudi Arabia
  • United Arab Emirates
  • Nigeria
  • South Africa
  • Others

Neuromodulation Devices Market Scenario

The neuromodulation Devices market is being driven by factors such as the increasing prevalence of neurological disorders, the rise in the geriatric population, and advancements in neuromodulation technologies. North America dominated the global neuromodulation devices market in 2020, followed by Europe and the Asia Pacific. The high prevalence of neurological disorders, favourable reimbursement policies, and the presence of many key players in the region are driving the growth of the market in North America and Europe.

The Asia Pacific region is expected to witness the highest CAGR during the forecast period, owing to the increasing prevalence of neurological disorders and the rising healthcare expenditure in the region. Moreover, the growing demand for minimally invasive procedures, advancements in healthcare infrastructure, and increasing investments in research and development activities are expected to fuel the growth of the neuromodulation devices market in the Asia Pacific region.

Key Players in the Global Neuromodulation Devices Market

The report gives an in-depth analysis of the key players involved in the neuromodulation devices market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
  • NeuroPace, Inc
  • electroCore, Inc
  • Medtronic plc
  • LivaNova, PLC
  • Boston Scientific Corporation
  • Neuronetics, Inc
  • NeuroSigma, Inc
  • Nevro Corp
  • Synapse Biomedical, Inc
  • Bioventus
Frequently Asked Questions about the Global Neuromodulation Devices Market

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

The Global Neuromodulation Devices Market was estimated to be valued at $8.75 Billion in 2023.

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

The growth rate of the Global Neuromodulation Devices Market is 10.2%, with an estimated value of $19.1 Billion by 2031.

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

The Global Neuromodulation Devices Market is estimated to be worth $19.1 Billion by 2031.

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

Key companies in the Global Neuromodulation Devices Market include NeuroPace, Inc., electroCore, Inc., Medtronic plc, LivaNova, PLC, Boston Scientific Corporation, Neuronetics, Inc., NeuroSigma, Inc., Nevro Corp., Synapse Biomedical, Inc. and Bioventus.

Table of Contents

1 Preface
1.1 Objectives of the Study
1.1.1 Research Objectives
1.1.2 Key Findings of the Report
1.2 Limitations of the Study and Scope for Future Research
2 Research Methodology3 Executive Summary
4 Global Neuromodulation Devices Market
4.1 Global Neuromodulation Devices Market Overview
4.2 Global Neuromodulation Devices Market Analysis
4.2.1 Market Overview
4.2.1.1 Global Neuromodulation Devices Market Historical Value (2016-2022)
4.2.1.2 Global Neuromodulation Devices Market Forecast Value (2023-2031)
4.3 Global Neuromodulation Devices Market by Type
4.3.1 Market Overview
4.3.1.1 Invasive
4.3.1.2 Non-Invasive
4.3.1.3 Others
4.4 Global Neuromodulation Devices Market by Application
4.4.1 Market Overview
4.4.1.1 Internal Neuromodulation
4.4.1.1.1 Spinal Cord Stimulation
4.4.1.1.2 Deep Brain Stimulation
4.4.1.1.3 Vagus Nerve Stimulation
4.4.1.1.4 Sacral Nerve Stimulation
4.4.1.1.5 Gastric Electric Stimulation
4.4.1.2 External Neuromodulation
4.4.1.2.1 Transcutaneous Electrical Nerve Stimulation
4.4.1.2.2 Transcranial Magnetic Stimulation
4.4.1.2.3 Respiratory Electrical Stimulation
4.4.1.3 Others
4.5 Global Neuromodulation Devices Market by Indication
4.5.1 Market Overview
4.5.1.1 Pain Management
4.5.1.2 Neurological Disorders
4.5.1.3 Respiratory Disorders
4.5.1.4 Others
4.6 Global Neuromodulation Devices Market by Distribution Channels
4.6.1 Market Overview
4.6.1.1 Hospitals
4.6.1.2 Testing Laboratories
4.6.1.3 Research Laboratories
4.7 Global Neuromodulation Devices Market by Region
4.7.1 Market Overview
4.7.1.1 North America
4.7.1.2 Europe
4.7.1.3 Asia Pacific
4.7.1.4 Latin America
4.7.1.5 Middle East and Africa
4.7.2 North America
4.7.2.1 Historical Trend (2016-2022)
4.7.2.2 Forecast Trend (2023-2031)
4.7.2.3 Break Up by Country
4.7.2.3.1 United States of America
4.7.2.3.2 Canada
4.7.3 Europe
4.7.3.1 Historical Trend (2016-2022)
4.7.3.2 Forecast Trend (2023-2031)
4.7.3.3 Break Up by Country
4.7.3.3.1 United Kingdom
4.7.3.3.2 Germany
4.7.3.3.3 France
4.7.3.3.4 Italy
4.7.3.3.5 Others
4.7.4 Asia Pacific
4.7.4.1 Historical Trend (2016-2022)
4.7.4.2 Forecast Trend (2023-2031)
4.7.4.3 Break Up by Country
4.7.4.3.1 China
4.7.4.3.2 Japan
4.7.4.3.3 India
4.7.4.3.4 ASEAN
4.7.4.3.5 Australia
4.7.4.3.6 Others
4.7.5 Latin America
4.7.5.1 Historical Trend (2016-2022)
4.7.5.2 Forecast Trend (2023-2031)
4.7.5.3 Break Up by Country
4.7.5.3.1 Brazil
4.7.5.3.2 Argentina
4.7.5.3.3 Mexico
4.7.5.3.4 Others
4.7.6 Middle East and Africa
4.7.6.1 Historical Trend (2016-2022)
4.7.6.2 Forecast Trend (2023-2031)
4.7.6.3 Break Up by Country
4.7.6.3.1 Saudi Arabia
4.7.6.3.2 United Arab Emirates
4.7.6.3.3 Nigeria
4.7.6.3.4 South Africa
4.7.6.3.5 Others
5 Trade Data Analysis by HS Code
5.1 Neurostimulators- 90189099
5.2 Implantable Neurostimulators- 90189098
6 Current Scenario Evaluation and Regulatory Framework
6.1 Emerging Therapies and Clinical Trials Synopsis
6.2 Patent Landscape
6.2.1 Patent Overview
6.2.1.1 Patent Status and Expiry
6.2.1.2 Timelines from Device Development to Commercial Launch
6.2.1.3 New Device Application
6.2.1.3.1 Documentation and Approval Process
6.3 Cost of Treatment
6.4 Regulatory Framework
6.4.1 Regulatory Overview
6.4.1.1 US FDA
6.4.1.2 EU EMA
6.4.1.3 INDIA CDSCO
6.4.1.4 JAPAN PMDA
6.4.1.5 Others
7 Global Neuromodulation Devices Market Dynamics
7.1 Market Drivers and Constraints
7.2 SWOT Analysis
7.3 Porter’s Five Forces Model
7.4 Key Demand Indicators
7.5 Key Price Indicators
7.6 Industry Events, Initiatives, and Trends
7.7 Value Chain Analysis
8 Supplier Landscape
8.1 NeuroPace, Inc.
8.1.1 Company Overview
8.1.2 Product Portfolio
8.1.3 Demographic Reach and Achievements
8.1.4 Mergers and Acquisitions
8.1.5 Certifications
8.2 electroCore, Inc.
8.2.1 Company Overview
8.2.2 Product Portfolio
8.2.3 Demographic Reach and Achievements
8.2.4 Mergers and Acquisitions
8.2.5 Certifications
8.3 Medtronic plc
8.3.1 Company Overview
8.3.2 Product Portfolio
8.3.3 Demographic Reach and Achievements
8.3.4 Mergers and Acquisitions
8.3.5 Certifications
8.4 LivaNova, PLC
8.4.1 Company Overview
8.4.2 Product Portfolio
8.4.3 Demographic Reach and Achievements
8.4.4 Mergers and Acquisitions
8.4.5 Certifications
8.5 Boston Scientific Corporation
8.5.1 Company Overview
8.5.2 Product Portfolio
8.5.3 Demographic Reach and Achievements
8.5.4 Mergers and Acquisitions
8.5.5 Certifications
8.6 Neuronetics, Inc.
8.6.1 Company Overview
8.6.2 Product Portfolio
8.6.3 Demographic Reach and Achievements
8.6.4 Mergers and Acquisitions
8.6.5 Certifications
8.7 NeuroSigma, Inc.
8.7.1 Company Overview
8.7.2 Product Portfolio
8.7.3 Demographic Reach and Achievements
8.7.4 Mergers and Acquisitions
8.7.5 Certifications
8.8 Nevro Corp.
8.8.1 Company Overview
8.8.2 Product Portfolio
8.8.3 Demographic Reach and Achievements
8.8.4 Mergers and Acquisitions
8.8.5 Certifications
8.9 Synapse Biomedical, Inc.
8.9.1 Company Overview
8.9.2 Product Portfolio
8.9.3 Demographic Reach and Achievements
8.9.4 Mergers and Acquisitions
8.9.5 Certifications
8.10 Bioventus
8.10.1 Company Overview
8.10.2 Product Portfolio
8.10.3 Demographic Reach and Achievements
8.10.4 Mergers and Acquisitions
8.10.5 Certifications
9 Recommendations and Discussion
10 Pricing Models and Strategies (Additional Insight)
10.1 Overview
10.2 Cost Model
10.2.1 Manufacturing Cost Analysis
10.2.2 Procurement Cost Analysis
10.2.3 Clinical Trial Cost Factors
10.3 Pricing Strategies
10.3.1 Competitor Pricing Analysis
10.3.2 Key Assessment of Product Attributes
10.3.3 Pricing Benchmark
11 Global Neuromodulation Devices Distribution Model (Additional Insight)
11.1 Overview
11.2 Potential Distributors
11.3 Key Parameters for Distribution Partner Assessment

Companies Mentioned

  • NeuroPace, Inc.
  • electroCore, Inc.
  • Medtronic plc
  • LivaNova, PLC
  • Boston Scientific Corporation
  • Neuronetics, Inc.
  • NeuroSigma, Inc.
  • Nevro Corp.
  • Synapse Biomedical, Inc.
  • Bioventus

Methodology

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