The global demand for Neuromodulation Market is presumed to reach the market size of nearly USD 6.96 MN by 2028 from USD 4.28 MN in 2021 with a CAGR of 7.2% under the study period 2022 - 2028.
The term ""neuromodulation"" refers to ""the modification of nerve activity through the targeted delivery of a stimulus, like electrical stimulation or chemical agents, to specific neurological locations in the body."" It is done to normalize – or modulate – the function of nerve tissue. Neuromodulation is a developing therapy that can include various electromagnetic stimuli such as a magnetic field (rTMS), an electric current, or a medication injected directly into the subdural region (intrathecal drug delivery). Whether electrical or magnetic, Neuromodulation uses the body's natural biological response by stimulating nerve cell activity, which can influence nerve populations by releasing transmitters like dopamine or other chemical messengers like the peptide Substance P, which can modulate the excitability and firing patterns of neural circuits.
Market Dynamics
The growing elderly population, their vulnerability to neurological illnesses, and an increase in the frequency of neurological diseases, including Alzheimer's and Parkinson's disease, contribute to market expansion. In addition, an increase in awareness about the safety and efficacy of neurostimulators is propelling the neuromodulation market forward. Furthermore, more research into expanding the applications of neuromodulation and increased awareness of neurodegenerative conditions are driving the expansion of this market. Restrictions, such as a shortage of skilled healthcare experts and strict approval rules, are projected to hamper the market.
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. The growth and trends of neuromodulation industry provide a holistic approach to this study.
Market Segmentation
This section of the neuromodulation 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 Technology
- Internal Neuromodulation
- External Neuromodulation
By Application
- Chronic Pain Management
- Failed Back Syndrome
- Epilepsy
- Tremor
- Urinary And Fecal Incontinence
- Depression
- Dystonia
- Gastroparesis
- Parkinson'S Disease
- Obsessive-Compulsive Disorder
- Migraine
- Other Applications
By Biomaterial
- Metallic Biomaterials
- Polymeric Biomaterials
- Ceramic Biomaterials
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Neuromodulation 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 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 market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), LivaNova (UK), Synapse Biomedical (US), Nevro Corporation (US), NeuroSigma (US), NeuroPace (US), Neuronetics (US), BioControl Medical (Israel), Bioness (US), Soterix Medical (US), Integer Holdings Corporation (US), Bioinduction (UK), GiMer Medical (Taiwan), GTX Medical (Netherlands), Helius Medical Technologies (US), MicroTransponder (US), Neuronano (US), and BlueWind (Israel). 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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