The global Neuromodulation Market is anticipated to witness a healthy CAGR over the forecast period of 2022 to 2031.
Neuromodulation devices have emerged as one of the fastest-growing segments of the medical device market due to the high demand for minimally invasive and non–invasive treatment. With advancements in technology, neuromodulation is expected to become a promising therapeutic area and high growth industry in the next decade, as it offers symptomatic relief mainly from chronic pain, incontinence, heart failure, headache, depression, epilepsy, etc. The neuromodulation devices market includes deep brain stimulation, spinal cord stimulation, vagus nerve stimulation, sacral nerve stimulation, and other external stimulation devices such as transcranial magnetic stimulation, and transcutaneous electrical nerve stimulation (TENS).
The neuromodulation technique acts directly upon nerves or the target area where the activity of nerves is altered due to biological responses produced by electrical stimulation or drug infusion. These devices include small electrodes that are attached to the brain, the spinal cord, or peripheral nerves. These precisely placed leads are connected by means of an extension cable to a pulse generator to generate electrical stimulation. Neuromodulation can have applications in any area of the body and can treat several diseases like chronic pain, epilepsy, psychiatric disorder, movement disorder, cardiovascular disorder, genitourinary and colorectal disorder, stroke and brain injury, and gastric disorder.
The main drivers for the neuromodulation market are the rising population of aged people and age-related diseases like Alzheimer’s, epilepsy, spinal cord injury, and Parkinson’s disease. According to the International Neuromodulation Society, about 40 million to 50 million patients worldwide suffer from epilepsy, and 1.5 million people currently (2012) suffer from Parkinson disease in the U.S. The large pool of patients that suffer from depression, stroke, anxiety disorders, lower back pain, urinary incontinence, and tremor offers the neuromodulation industry opportunities to grow in the next five years. The market for the treatment of tinnitus, in particular, represents an emerging application of neuromodulation. According to the American Tinnitus Association, about 50 million people currently (2012) suffer from this disease in the U.S.
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This report estimates the market for six major segments, namely, spinal cord stimulation, deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, gastric electrical stimulation, transcranial magnetic stimulation, and others. The report also estimates the market for different neuromodulation techniques as well as geographic analysis of each segment in North America, Europe, Asia-Pacific, and the Rest of the World. As technologies develop and the number of trained physicians increases, the likelihood of neuromodulation being seen as life-changing treatment will increase dramatically. It is estimated that the market for neuromodulation will be shared largely by deep brain stimulation and spinal cord stimulation.
The key players in the neuromodulation devices market are Medtronic, Inc. (U.S.), Cyberonics, Inc. (U.S.), Boston Scientific Corporation (U.S.), St. Jude Medical (U.S.), Enteromedics, Inc (U.S.), Neuropace, Inc (U.S.), Zynex, Inc (U.S.) and Neuronetics, Inc (U.S.). The emerging players in this market are Functional Neuromodulation, Ltd (U.S.), Microtransponder (U.S.), and Neurosigma, Inc (U.S.).
Scope of the Report
The research report categorizes the global neuromodulation devices market by procedure, technology, and application. These markets are broken down into segments and sub-segments, providing exhaustive value-volume analysis for 2010, 2011, and 2012 as well as forecast up to 2031. Each market is also analyzed by geography (North America, Europe, Asia-Pacific, and Rest of the World to provide in-depth information on the global scenario.
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Global Neurostimulation Devices Market, by Procedure:
Spinal Cord Stimulation (SCS)
Failed Back Surgery Syndrome
Deep Brain Stimulation (DBS)
Sacral Nerve Stimulation (SNS)
Vagus Nerve Stimulation (VNS)
Gastric Electrical Stimulation (GES)
Transcranial Magnetic Stimulation (TMS)
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Transcutaneous Electrical Nerve Stimulation (TENS)
Global Neurostimulation Devices Market, by Geography
Rest of the World
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