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The global neuromodulation market reached a value of US$ 6.05 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 11.84 Billion by 2027, exhibiting a CAGR of 11.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Neuromodulation is a medical technique used for the modulation and alteration of nerve activities by delivering electrical or pharmaceutical agents directly to the targeted area. It consists of tiny electrodes that generate electrical stimulation with the help of pulse generators to supplement neurological activities in the patients. The electrodes are generally placed in the nerves, brain, or spinal cord, whereas pulse generators are implanted within the skin. Neuromodulation is widely used to treat depression, chronic pain, epilepsy, tremor, migraine, failed back syndrome, Parkinson's disease, and gastroparesis. It includes the vagal nerve, deep brain, transcranial magnetic, and electrical stimulation. It assists in monitoring nerve activity, alleviating symptoms, and normalizing activity levels in the brain.
The rising geriatric population and the increasing prevalence of Alzheimer's and Parkinson's diseases across the globe are key factors driving the market growth. Neuromodulation is widely used to treat overactive bladder, low movement, rigidity, tremor, walking problems, neurodegenerative, and neurological disorders. Moreover, technological innovations, such as the introduction of lithium-ion (Li-ion) batteries that provide high energy density, rechargeability, and enhanced cycling temperature, are providing a considerable boost to the market growth. Additionally, the widespread utilization of spinal cord stimulation (SCS) in various medical problems, such as complex regional pain syndrome, neuropathy, nerve damage, failed-back surgery syndrome, and arachnoiditis, is positively impacting the market growth. Apart from this, the increasing usage of deep brain stimulation (DBS) that delivers low bipolar or monopolar electric impulses and is used in the treatment of depression and obsessive-compulsive disorders (OCD) is creating a positive outlook for the market. Other factors, such as extensive research and development (R&D) activities and significant growth in the healthcare industry, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global neuromodulation market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, biomaterial and application.
Breakup by Technology:
Breakup by Biomaterial:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Abbott Laboratories, Bioventus Inc., Boston Scientific Corporation, Helius Medical Technologies, Integer Holdings Corporation, LivaNova PLC, Medtronic plc, MicroTransponder Inc., Neuronetics, NeuroPace Inc., NeuroSigma Inc., Nevro Corp.
|Base Year of the Analysis||2021|
|Segment Coverage||Technology, Biomaterial, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Abbott Laboratories, Bioventus Inc., Boston Scientific Corporation, Helius Medical Technologies, Integer Holdings Corporation, LivaNova PLC, Medtronic plc, MicroTransponder Inc., Neuronetics, NeuroPace Inc., NeuroSigma Inc., Nevro Corp.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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