The Global Neuromodulation Devices Market size to exhibit a CAGR of 11.2% over the forecast period from 2018 to 2023. Neuromodulation is the targeted transmission of stimuli to nerve centers in order to normalize nerve function in the body. The stimulus in question may be an electric current, a magnetic field, or a chemical drug. The primary objective of neuromodulation is to modulate damaged nerve cells and return normal function. This treatment is highly useful in treating conditions such as urinary and fecal incontinence, Alzheimer’s disease, Parkinson’s disease, epilepsy, and dystonia.
The growth of the geriatric population is the major driver for the global neuromodulation devices market. The geriatric population is more susceptible to neurodegenerative diseases, as the myelin covering of nerves becomes weaker with age and is more susceptible to breaking off. The geriatric population has grown rapidly in regions such as North America and Europe in recent years, leading to steady growth of the neuromodulation devices market. The rising prevalence of neurodegenerative and other age-related diseases in these regions is likely to drive the demand from the neuromodulation devices market over the forecast period.
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Neuromodulation devices market Competitive Analysis:
Leading players in the global neuromodulation devices market include St. Jude Medical Inc., Boston Scientific Corporation, Bioness Inc., Nevro Corporation, Synapse Biomedical Inc., Neuronetics Inc., BioControl Medical, DynaMD, Soterix Medical Inc., Accellent, Cyberonics Inc., Neurosigma Inc., NeuroPace Inc., EnteroMedics Inc., Aleva Neurotherapeutics SA, and LivaNova plc.
In March 2019, WeHealth and PathMaker Neurosystems announced a collaboration in order to develop a new neuromodulation technology to treat muscular spasticity. New target conditions are likely to extend the scope of the neuromodulation devices market over the forecast period.
Neuromodulation devices market Segmentation:
The Global Neuromodulation devices market is segmented by type, application, biomaterial, and end use.
Based on type, the global neuromodulation devices market is classified as internal neuromodulation and external neuromodulation (non-invasive). Internal neuromodulation is further divided into spinal cord stimulation (SCS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), sacral nerve stimulation (SNS), and gastric electrical stimulation (GES). External neuromodulation (non-invasive) is further segmented into transcutaneous electrical nerve stimulation (TENS), transcranial magnetic stimulation (TMS), and respiratory electrical stimulation (RES).
Based on application, the global neuromodulation devices market is classified into spinal cord stimulation (SCS), which is classified into chronic pain management, failed back syndrome (FBSS), and ischemia. Deep brain stimulation (DBS) is classified into Parkinson’s disease, tremor, depression, and others. Sacral nerve stimulation is divided into urine incontinence and fecal incontinence. Vagus nerve stimulation is divided into epilepsy and others. Gastric electrical stimulation is divided into gastroparesis and obesity. Transcutaneous electrical nerve stimulation is divided into treatment-resistant depression and others. Repetitive transcranial magnetic stimulation is divided into depression and migraine headache. Respiratory electrical stimulation is divided into spinal cord injury and others.
Based on biomaterial, the global neuromodulation devices market is segmented into metallic biomaterials, polymeric biomaterials, and ceramic biomaterials.
Based on end use, the global neuromodulation devices market is segmented into hospitals, clinics, home healthcare, and others.
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Neuromodulation devices market Regionally Segmented into
Rest Of Western Europe
• Republic Of Korea
• Rest Of Asia Pacific
Middle East & Africa
• United Arab Emirates
• Saudi Arabia
• Rest Of Middle East & Africa
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