The global demand for Neuromodulation Devices Market is presumed to reach the market size of nearly USD 11.56 BN by 2030 from USD 5.18 BN in 2022 with a CAGR of 10.54% under the study period 2023 - 2030.
Neuromodulation is a process that uses electrical devices to adjust or change activity that occurs in the brain. Neuromodulation devices are advanced medical tools that act directly upon the nervous system. The devices use pharmaceutical agents, electrical signals, or other forms of energy to control the activity of the nerves. The devices with electrical currents or magnets can stop attacks that are already underway. These devices are effective in reducing migraine attacks and cluster headaches too. Medical treatments with neuromodulation devices can treat nearly every disease or symptom including headaches, tremors, spinal cord damage, or urinary incontinence.
The growing prevalence of neurological disorders and the demand for treatment with medical devices are responsible for the growth of neuromodulation medical devices. The neuromodulation procedures with internal segmentation, such as shorter hospitalizations, reduced post-surgical complications, and improved quality of life are also driving the market of neuromodulation. The market for neuromodulation devices is expected to grow rapidly over the forecast period. Neuromodulation devices used for spinal cord stimulation held the major market share during the forecast period. The lack of awareness about neuromodulation devices to treat neurological disorders might limit the growth of the market. Medical institutes are reluctant to invest in advanced medical systems also limiting the growth of the neuromodulation market. Moreover, neuromodulation treatments are highly expensive, that are affordable only for a very limited pool of patients.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of neuromodulation devices. The growth and trends of neuromodulation devices industry provide a holistic approach to this study.
This section of the neuromodulation devices market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Spinal Cord Stimulators
- Deep Brain Stimulators
- Sacral Nerve Stimulators
- Vagus Nerve Stimulators
- Transcranial Magnetic Stimulators
- Pain Management
- Neurological Disorders
- Respiratory Disorders
By End User
- Specialty Clinics
This section covers the regional outlook, which accentuates current and future demand for the Neuromodulation Devices market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Neuromodulation Devices Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the neuromodulation devices market include LivaNova PLC, Medtronic, electroCore Inc., Boston Scientific Corporation, Abbott, Inspire Medical Systems Inc., Neuronetics, ReShape Lifesciences Inc., NeuroPace Inc., Others. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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