Neuromodulation Market, By Technology (Internal Neuromodulation (Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation, and Gastric Electrical Stimulation), and External Neuromodulation (Transcutaneous Electrical Nerve Stimulation, Transcranial Magnetic Stimulation and Others)), By Application (Depression, Dystonia, Parkinson's Disease, Epilepsy, Pain Management, and Other Applications), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Trends, Analysis And Forecast Till 2030

Neuromodulators are a subset of neurotransmitter. Unlike neurotransmitters, the release of neuromodulators occurs in a diffuse manner. This means that an entire neural tissue may be subject to the neuromodulator’s action due to exposure. This in turn, can tune the neural circuitry of an entire brain region and not just that of an individual neuron. Neuromodulation is an intracranial, electrical neuromodulation therapy that has FDA approval for the treatment for most of the neurological diseases such as bladder control, headache, tremors, chronic pain, stroke, minimally conscious state, and spinal cord injury, which are most commonly found in the elderly population. The Global Neuromodulation Market accounted for US$ 5.8 billion in 2020 and is estimated to be US$ 11.927 billion by 2030 and is anticipated to register a CAGR of 7.50%.

Rise in geriatric population

The key drivers for the growth of global neuromodulation market include rise in geriatric population, their vulnerability for neurological disorders, increase in incidence of neurological diseases, such as Alzheimer’s and Parkinson’s diseases, and the increase in awareness regarding the safety and efficacy of neurostimulator devices.  Neuromodulation is reversible and adjustable, in which physicians can on-invasively manage the electrical parameters with a programmer to effectively control disease symptoms. The proven efficacy and improving acceptance of this technology are expected to lead to the surge in the market demand during the forecast period. Technological advances related to battery longevity and miniaturization of implantable neuromodulation devices, including the circuitry and battery, device software and programming, introduction of rechargeable batteries, and implantation techniques, have significantly improved the reliability and effectiveness of neuromodulation devices. One of the latest technological advances in neuromodulation devices has been the development of MRI-conditional implantable neuromodulation devices. Such technological advances will lead to the expansion of the global neuromodulation market. However, lack of trained healthcare professionals and stringent approval policies, are expected to hinder the target market growth. Whereas, Several neuromodulation devices have recently received approval for indications and are ongoing clinical trials to explore their additional therapeutic properties. This development is expected to provide opportunity for the target market growth.

The global neuromodulation market is segmented based on technology, application, and region.

Based on technology, the global neuromodulation market is segmented into the internal neuromodulation, and external neuromodulation. The internal neuromodulation is further segmented into deep brain stimulation, sacral nerve stimulation, vagus nerve stimulation, spinal cord stimulation, and gastric electrical stimulation. The external neuromodulation is further segmented into transcutaneous electrical nerve stimulation, transcranial magnetic stimulation and others. Based on application, the target market is bifurcated into depression, dystonia, parkinson's disease, epilepsy, pain management, and other applications.

Regional Insights:

The global Neuromodulation market accounted for US$ 5.8 billion in 2020 and is estimated to be US$ 11.927 billion by 2030 and is anticipated to register a CAGR of 7.50%. On region the global Neuromodulation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on the region the global neuromodulation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to account highest revenue share to global neuromodulation market, owing to presence of major market players and huge pharmaceutical and biopharmaceutical industries, coupled with the rising investments in the country for the adoption of advanced technologies. Asia-Pacific, on the other hand, is expected to grow with the fastest growth to the target market.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the global Neuromodulation market report based on technology, application, and region.

Global Neuromodulation Market, By Region:

• • • North America
      • • U.S.
        • Canada
    • Europe
      • • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa

The key players operating the global neuromodulation market involves Medtronic plc, Boston Scientific Corporation, St. Jude Medical, Cyberonics, Cochlear Ltd., Advanced Bionics, Sonova Group, Nevro Corporation, Neuronetics, Inc. and Greatbatch.

• Medtronic
  • • •  Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Boston Scientific Corporation
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• St. Jude Medical
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Cyberonics, Cochlear Ltd.
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Advanced Bionics
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Sonova Group
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Nevro Corporation
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Neuronetics, Inc.
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance
• Greatbatch.
  • • • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Performance

“*” marked represents similar segmentation in other categories in the respective section