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The neuromodulation market size is forecast to increase by USD 6.21 billion, at a CAGR of 12.57% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by advancements in technology and expanding applications across various sectors. Clinical trials explore new therapeutic possibilities, with a focus on targeted drug delivery and closed-loop systems. Programmable devices and adaptive stimulation offer personalized treatment options, while healthcare professionals refine patient selection criteria. Peripheral nerve stimulation and electrode arrays are advancing, enabling more precise interventions for movement disorders such as essential tremor and Parkinson's disease. Sacral nerve stimulation and leads and wires are improving treatment for urinary incontinence and overactive bladder. Neuromodulation therapy, including spinal cord stimulation and implantable pulse generators, is gaining traction in pain management, offering relief for chronic pain and neuropathic conditions.
Machine learning and predictive modeling enhance data analytics, enabling better patient outcomes and market access. Regulatory approvals and implantation procedures continue to shape the landscape, with regulatory bodies closely monitoring safety and efficacy. Neurological disorders, such as Parkinson's disease and essential tremor, are major targets for innovation, while psychiatric disorders and chronic migraine also draw attention. Battery life and device longevity remain key considerations, as does the role of remote monitoring in optimizing treatment and improving quality of life. Ongoing research and development ensure the market remains a dynamic and evolving field.
The neuromodulation industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The implantable neuromodulation devices segment is estimated to witness significant growth during the forecast period.
Implantable neuromodulation devices, which are programmable medical devices, play a significant role in treating various neurological disorders, including chronic pain, Parkinson's disease, and psychiatric disorders. These devices use electrical stimulation to target specific areas of the peripheral nerves, spinal cord, or brain. Six primary types of neuromodulation therapies are widely used: spinal cord stimulation (SCS), sacral nerve stimulation (SNS), deep brain stimulation (DBS), vagus nerve stimulation (VNS), gastric electrical stimulation (GES), and peripheral nerve stimulation (PNS). SCS, also known as dorsal column stimulation, is a neuromodulation technique used to treat chronic pain, particularly neuropathic and sympathetically-mediated pain. The therapy involves implanting a small spinal cord stimulator that delivers a low-voltage electrical current continuously to specific nerves, blocking pain signals from reaching the brain and replacing them with paresthesia.
SNS, another type of neuromodulation therapy, is used to treat conditions such as urinary incontinence and overactive bladder. It involves implanting a device that sends electrical impulses to the sacral nerves, which control the bladder and other pelvic organs. DBS is used to treat movement disorders, such as Parkinson's disease, essential tremor, and dystonia. The therapy involves implanting electrodes in specific areas of the brain and using a programmable device to deliver electrical impulses to modify abnormal brain activity. VNS, which involves implanting an electrode in the vagus nerve, is used to treat various conditions, including epilepsy, depression, and anxiety.
The therapy involves delivering electrical impulses to the vagus nerve, which sends signals to the brain to regulate various bodily functions. GES is used to treat gastrointestinal disorders, such as gastroparesis and irritable bowel syndrome. The therapy involves implanting a device that sends electrical impulses to the stomach to stimulate muscle contractions and improve digestion. PNS is used to treat various conditions, including chronic pain, urinary incontinence, and orthostatic hypotension. The therapy involves implanting electrodes along the affected nerve and using a programmable device to deliver electrical impulses to modify nerve activity. Neuromodulation therapy also involves surgical techniques, implantation procedures, regulatory approvals, clinical trials, and reimbursement models.
Healthcare systems, pain specialists, and neurological professionals play a crucial role in patient selection and treatment. Targeted drug delivery, closed-loop systems, adaptive stimulation, and machine learning are emerging trends in neuromodulation therapy. Data analytics, predictive modeling, and remote monitoring are essential for optimizing patient outcomes and improving quality of life. Battery life, device longevity, and adverse events are critical factors in market access and patient satisfaction.
The Implantable neuromodulation devices segment was valued at USD 3.11 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America, which includes the US and Canada, holds a significant revenue share due to the increasing adoption of advanced neuromodulation technologies and the high prevalence of neurological disorders. Neurological conditions such as Parkinson's disease (PD) and Essential Tremor (ET) are common in the region, with approximately 50,000 new PD diagnoses and up to 10 million living with ET in the US each year. The geriatric population, more prone to neurological diseases, further fuels the market growth. Advanced surgical techniques, such as deep brain stimulation and spinal cord stimulation, are increasingly being used to treat various neurological disorders, including movement disorders and chronic pain.
Reimbursement models and regulatory approvals facilitate the widespread use of these procedures. Neuromodulation therapies, including peripheral nerve stimulation, sacral nerve stimulation, vagal nerve stimulation, and implantable pulse generators, offer effective treatment options for various conditions, from chronic migraine and overactive bladder to neuropathic pain and urinary incontinence. Machine learning and predictive modeling enable personalized treatment plans and improve patient outcomes. Healthcare systems, pain specialists, and neurologists collaborate to optimize patient selection and implantation procedures. Adaptive stimulation, closed-loop systems, and programmable devices enhance treatment efficacy while minimizing adverse events. Remote monitoring and data analytics facilitate continuous patient care and device optimization.
The market's future lies in targeted drug delivery, battery life, and device longevity improvements.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The neuromodulation market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the neuromodulation market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, neuromodulation market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Abbott Laboratories - Neuromodulation, including neurostimulation devices, is a specialized area of medical technology for managing pain and neurological disorders.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Neuromodulation Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
177 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 12.57% |
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Market growth 2024-2028 |
USD 6214.7 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
10.93 |
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Key countries |
US, Germany, UK, Japan, and China |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
We can help! Our analysts can customize this neuromodulation market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Market Segmentation by Biomaterial
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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