This report aims to provide detailed insights into the Neuromodulation Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth Analysis:
The neuromodulation market is projected to grow at a CAGR of 8.6% during the forecast period to reach USD 8.8 billion by 2025 from USD 5.8 billion in 2020.
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Key Factors Driving Market Growth:
The Factors such as the rising prevalence of neurological disorders, increasing research into expanding the applications of neuromodulation, and awareness on neurodegenerative disorders are driving neuromodulation market growth.
The internal neuromodulation segment accounted for the largest share of the Neuromodulation Market.
Based on technology, the neuromodulation is segmented into internal neuromodulation and external neuromodulation. The internal neuromodulation segment accounted for the largest share of the spinal cord stimulation market in 2019. This can be attributed to the benefits of internal neuromodulation technologies, such as reductions in post-surgical complications and length of hospital stay, as well as long-term cost savings associated with the use of internal neuromodulation devices.
The transcutaneous electrical nerve stimulation segment accounted for the largest share of the External Neuromodulation in 2019.
Based on type, the External Neuromodulation is segmented into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES). TENS accounted for the largest share of spinal cord stimulation market in 2019. This is mainly due to the higher incidence of chronic disorders, the wide range of applications of these devices, their cost-effectiveness, and the rising demand for non-invasive therapy.
North America to dominate the Neuromodulation Market during the forecast period
In 2019, North America dominated the market, followed by Europe. The major factors driving the growth of spinal cord stimulation market include the rising prevalence of chronic diseases, the increasing geriatric population, and the rising number of cases of Lyme and Alzheimer's disease.
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The prominent players in this market include Medtronic (Ireland), Boston Scientific Corporation (US), Abbott (US), and LivaNova (UK), Synapse Biomedical, Inc. (US), Nevro Corporation (US), NeuroSigma (US), NeuroPace (US), Neuronetics (US), and BioControl Medical (Israel).
Medtronic (Ireland) dominated the global neuromodulation market. The company’s leading position can be attributed to its wide portfolio of neuromodulation devices and a strong geographical footprint. The company operates in the US, Europe, and the Asia Pacific. It serves clinicians, physicians, hospitals, and patients in more than 160 countries. R&D is a key area of focus for Medtronic—it invested USD 2,330 million in 2019, as compared to USD 2,256 million in 2018 and USD 2,193 million in 2017. The company focuses on organic as well as inorganic growth strategies to gain a competitive edge.
Recent Developments:
1. In 2019, NeuroSigma signed a partnership agreement with Teijin Limited (Teijin) (Japan). The partnership granted Teijin Pharma, the core company of Teijin’s healthcare business, exclusive rights to market NeuroSigma’s Monarch eTNS system in Japan, as well as the company’s TNS patent rights in Japan related to the non-invasive treatment of ADHD.
2. In 2018, Abbott signed an agreement with the National Institutes of Health (NIH) (US). As per the agreement, Abbott will provide neuromodulation technologies, including directional DBS, SCS, and DRG therapy, for NIH research to explore their applications in chronic pain and progressive movement disorders.
3. In 2017, Medtronic signed a partnership agreement with Mercy (US) to establish a new data sharing and analysis network that helps gather clinical evidence for medical device innovation and patient access
Neuromodulation Market: Emerging Trends and Business Opportunities
Global Neurostimulation Devices Market - OverviewNeurostimulation is a modulation of the nervous system’s activity.
It is deliberately carried out by using invasive and non-invasive techniques.
Implantable stimulation devices are most used in the treatment of the neurological conditions such as epilepsy, Parkinson’s disease, dystonia, tremors, depression, obsessive compulsive disorder, diabetic neuropathy, and few other conditions.
Increasing cases of the neurological disorders such as chronic pain and depression high adoption of the neurostimulation therapy are likely to improve the market of neurostimulation devices.
According to the World Health Organisation (WHO) neurological disorders are responsible for 4.5%-11% of all illnesses including in low- or high-income economies.
This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to rise further over the coming years.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/2263The market for neurostimulation devices is growing rapidly due to an increase in the number of cases of neurological diseases which is the result of changing lifestyle along with it increase in patient’s awareness about neurological disease, related surgeries and therapies.
Global Neurostimulation Market The GMI Research anticipates that the Neurostimulation Market will endure an augmenting demand over the forecast period.
This is because of their aggravating requirement to control auditory diseases and their potential to elevate the quality of severely paralyzed patient's life.Request a FREE sample of this ReportIntroduction of the Neurostimulation Market Neurostimulation refers to a treatment used to cure enormous impairing conditions such as incontinence, Parkinson's disease, gastroparesis, depression, and epilepsy.
It is the extremely prominent treatment choice for patients who do not acquire relief from medicines and surgical remedies.
Neurostimulation Market DynamicsThe factors magnifying the growth of the global Neurostimulation market include the surging occurrence of lifestyle diseases such as chronic pain and depression, the growing number of neurological problems, and amplifying investment in research and development.
Further, the soaring demand for minimally infectious medicaments, endorsement of technologically sophisticated items, and accelerating geriatric population are thereby supplementing the Neurostimulation market size.
The aging population is more prone to get impacted by neurological infections such as dystonia, depression, Epilepsy, chronic pain, etc.
Neuromodulation Market is valued around USD 4.89 Billion in 2019 and expected to reach USD 20.08 Billion by 2030 with the CAGR of 13.7% over the forecast period.Neuromodulation is a procedure which requires the implantation of electrodes directly to peripheral nerves or brain & pulse generator under skin.
This helps to provide the electrical impulses which helps in the treatment of various neurological disorders such as epilepsy, pain management, tremor and many more.
Based upon technology, the neuromodulation market is fragmented into internal neuromodulation and external neuromodulation.
Based on The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.The neuromodulation market is mainly driven by the high prevalence of various neurological disorders followed by the presence of large geriatric population.
There has been constant expansion of application in the treatment of various disorders followed by the growing demand for effective pain management therapies owing to growth in surgeries, trauma cases & many more.
However, high cost of the Neurostimulators along with the lack of skilled professionals trained in neuromodulation therapy is likely to inhibit the market growth during forecast period.Download sample copy of this report at https://www.nextmsc.com/Neuromodulation-Market/request-sampleThe developed regions such as North America and Europe are expected to hold the major market share owing to the presence of major market players in the region along with technological advancement.
Global Neurostimulation Devices Market - OverviewNeurostimulation is a modulation of the nervous system’s activity.
It is deliberately carried out by using invasive and non-invasive techniques.
Implantable stimulation devices are most used in the treatment of the neurological conditions such as epilepsy, Parkinson’s disease, dystonia, tremors, depression, obsessive compulsive disorder, diabetic neuropathy, and few other conditions.
Increasing cases of the neurological disorders such as chronic pain and depression high adoption of the neurostimulation therapy are likely to improve the market of neurostimulation devices.
According to the World Health Organisation (WHO) neurological disorders are responsible for 4.5%-11% of all illnesses including in low- or high-income economies.
This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to rise further over the coming years.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/2263The market for neurostimulation devices is growing rapidly due to an increase in the number of cases of neurological diseases which is the result of changing lifestyle along with it increase in patient’s awareness about neurological disease, related surgeries and therapies.
Neuromodulation Market is valued around USD 4.89 Billion in 2019 and expected to reach USD 20.08 Billion by 2030 with the CAGR of 13.7% over the forecast period.Neuromodulation is a procedure which requires the implantation of electrodes directly to peripheral nerves or brain & pulse generator under skin.
This helps to provide the electrical impulses which helps in the treatment of various neurological disorders such as epilepsy, pain management, tremor and many more.
Based upon technology, the neuromodulation market is fragmented into internal neuromodulation and external neuromodulation.
Based on The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.The neuromodulation market is mainly driven by the high prevalence of various neurological disorders followed by the presence of large geriatric population.
There has been constant expansion of application in the treatment of various disorders followed by the growing demand for effective pain management therapies owing to growth in surgeries, trauma cases & many more.
However, high cost of the Neurostimulators along with the lack of skilled professionals trained in neuromodulation therapy is likely to inhibit the market growth during forecast period.Download sample copy of this report at https://www.nextmsc.com/Neuromodulation-Market/request-sampleThe developed regions such as North America and Europe are expected to hold the major market share owing to the presence of major market players in the region along with technological advancement.
Global Neurostimulation Market The GMI Research anticipates that the Neurostimulation Market will endure an augmenting demand over the forecast period.
This is because of their aggravating requirement to control auditory diseases and their potential to elevate the quality of severely paralyzed patient's life.Request a FREE sample of this ReportIntroduction of the Neurostimulation Market Neurostimulation refers to a treatment used to cure enormous impairing conditions such as incontinence, Parkinson's disease, gastroparesis, depression, and epilepsy.
It is the extremely prominent treatment choice for patients who do not acquire relief from medicines and surgical remedies.
Neurostimulation Market DynamicsThe factors magnifying the growth of the global Neurostimulation market include the surging occurrence of lifestyle diseases such as chronic pain and depression, the growing number of neurological problems, and amplifying investment in research and development.
Further, the soaring demand for minimally infectious medicaments, endorsement of technologically sophisticated items, and accelerating geriatric population are thereby supplementing the Neurostimulation market size.
The aging population is more prone to get impacted by neurological infections such as dystonia, depression, Epilepsy, chronic pain, etc.