USD 5.13 billion
Neuromodulation Devices Market Size, Share, Growth Analysis, By Product (Spinal Cord Stimulators, Deep Brain Stimulators), By Application (E Parkinson’s Disease, Chronic Pain), By End Use (Hospitals & Ambulatory Surgery Centers, Clinics & Physiotherapy Centers), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35A2716 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
93
|Figures:
76
Neuromodulation Devices Market Insights
Neuromodulation Devices Market size was valued at USD 4000 Million in 2023 and is poised to grow from USD 4380 Million in 2024 to USD 9088.5 Million by 2032, growing at a CAGR of 9.5% during the forecast period (2025-2032).
Innovations in neurostimulation techniques have been made possible by the rising prevalence of chronic conditions and the limits of pharmaceutical therapy in effectively treating these diseases. Numerous studies have been conducted on the functional properties of various human nerves and the outcomes of electrically stimulating these nerves to treat various illnesses. As a result, new methods and tools for identifying and treating chronic illnesses have emerged. These methods cover anything from spinal cord stimulation for the treatment of pain to vagus nerve stimulation for the treatment of epilepsy and other diseases. The market is characterized by the introduction of customized devices and methods for treating particular illnesses as well as ongoing advancements in neurostimulation methods.
More awareness of neurodegenerative diseases, increased research into broadening the uses of neuromodulation, and the rising prevalence of neurological disorders are the main factors driving the growth of this market. However, throughout the projected period, the high cost of neuromodulation operations and equipment, together with a lack of a qualified workforce, is anticipated to hinder the expansion of this market.
US Neuromodulation Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
8.7% CAGR
Global Neuromodulation Devices Market ($ Bn)
Country Share for North America Region (%)
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Neuromodulation Devices Market Segmental Analysis
Global Neuromodulation Devices Market is segmented by Product, Application, End-use, and region. Based on Product, the market is segmented into Spinal Cord Stimulators, Deep Brain Stimulators, Sacral Nerve Stimulators, Vagus Nerve Stimulators, Gastric Electrical Stimulation, Others. Based on Application, the market is segmented into Parkinson’s Disease, Chronic Pain, Epilepsy, Migraine, Urinary & Faecal Incontinence, Tremor, Depression, Others. Based on End-use, the market is segmented into Hospitals & Ambulatory Surgery Centers (ASC), Clinics & Physiotherapy Centers, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Neuromodulation Devices Market Analysis by Product Type
The neurostimulation devices market was dominated by spinal cord stimulators. The segment is expanding primarily due to the rising prevalence of chronic back pain in both developed and emerging nations, as well as the growing preference of healthcare providers for spinal cord stimulators over conventional pharmaceuticals. Deep brain stimulators and vagus nerve stimulators segments are expanding due to rising prevalence of neurological disorders such as epilepsy, Parkinson's disease, and other conditions. The demand for sacral nerve stimulators is rising as a result of the creation of novel technologies and rising prevalence of urine incontinence.
Neuromodulation Devices Market Analysis by Application
Other clinical uses include the treatment of acute heart failure, migraine, obstructive sleep apnea, overactive bladder, urine incontinence, and fecal incontinence. The dominance of the pain management segment in the market is primarily due to the established clinical efficacy of neurostimulation devices in treating chronic back pain and rising prevalence of the illness. Due to a larger use of these devices for the treatment of epilepsy, depression, psychiatric disorders, and other neurological illnesses, the neurological disorders category had the second-largest share. The expansion of the other market segment is being driven by an increase in the prevalence of urine incontinence and rise in the use of sacral nerve stimulators for the treatment of urinary problems.
Global Neuromodulation Devices Market By End-User
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Neuromodulation Devices Market Regional Insights
The neuromodulation market size in North America was at its highest level, and the region's dominance is mostly attributable to its patients' higher rates of diagnosis and treatment as well as their greater use of neuromodulation devices to treat chronic illnesses. The second-largest market share belonged to Europe. The demand for these devices is being fueled by a strong healthcare infrastructure as well as an increase in non-invasive device approvals in the region.
Asia-Pacific is expected to have a greater CAGR than other regions throughout the forecast period. The market is expected to grow as a result of factors such as improving diagnosis and treatment rates, expanding healthcare infrastructure, and rising per capita healthcare spending. Neurostimulation devices have a lot of potential in the underdeveloped markets of Latin America and the Middle East and Africa. The neurostimulation devices market is anticipated to develop due to the entry of industry players through direct and indirect presence in these regions.
Global Neuromodulation Devices Market By Region
- Largest
- Fastest
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Neuromodulation Devices Market Dynamics
Neuromodulation Devices Market Driver
- The global neuromodulation devices market is driven by a number of reasons. One of the key factors propelling the neuromodulation devices market is the increase in health issues. Due to the exceptional capacity to offer comfort in various kinds of illnesses, neuromodulation devices have grown in favor over the years for treating chronic pain, shoulder pain, headaches, and brain injuries. In addition to treating depression, digestive, and sleeping issues, neuromodulation devices are used. Therefore, the business for neuromodulation devices is being driven by the widespread use of these devices to treat a variety of disorders.
Neuromodulation Devices Market Restraint
- The neuromodulation devices market is experiencing growing challenges due to a variety of causes. High capital investment is the main barrier for the market. The high cost of manufacturing Neuromodulation devices is posing a challenge for the new key players and has grown to be a significant market restraint. In addition, the neuromodulation devices market is constrained by the dearth of qualified professionals because the use of neuromodulation devices requires highly competent professionals.
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Neuromodulation Devices Market Competitive Landscape
The neuromodulation devices market is highly concentrated, with the top 3–4 companies holding more than 90% of the market. With a varied portfolio, great brand recognition, widespread geographic reach, and a robust distribution network, Medtronic has been able to dominate the industry. Abbott and Boston Scientific Corporation have both experienced a decline in market share over the past few years as a result of delays in the introduction of cutting-edge products in the spinal cord stimulation and other key categories.
Top Players in the Global Neuromodulation Devices Market
- Medtronic
- Synapse Biomedical
- Abbott Laboratories
- Boston Scientific Corporation
- LivaNova PLC
- Nevro Corp.
- NeuroSigma Inc.
- NeuroPace Inc.
- Cyberonics Inc.
- NDI Medical LLC
- NeuroMetrix Inc.
- NeuroVista Corporation
- Neuronetics Inc.
- BioControl Medical
- SPR Therapeutics
- MicroTransponder Inc.
- Soterix Medical Inc.
- BrainsWay Ltd.
- Saluda Medical Pty Ltd
Neuromodulation Devices Market Recent Developments
- In March 2021, Axonics Modulation Technologies, Inc. and Micro Systems Technologies (MST) formed a strategic partnership to produce an implantable sacral neuromodulation device that is not rechargeable.
- In March 2021, Helius Medical was given US FDA approval for the Portable Neuromodulation Stimulator, the short-term therapy of multiple sclerosis-related gait impairment.
- In January 2021, for its fourth generation Vercise Genus Deep Brain Stimulation (DBS) System, which is used to treat symptoms in individuals with severe Parkinson's disease, Boston Scientific Corporation got FDA approval.
Neuromodulation Devices Key Market Trends
- A sizable fraction of patients with long-term illnesses, such as chronic back pain, depression, epilepsy, and sleep apnea, among others, are showing signs of drug and medicine resistance. Resistance is evident in the treatment's slow progression and any outcomes that are delayed or insufficient. The market trends for neuromodulation devices are being driven by healthcare practitioners turning their attention to neurostimulation methods for the management of chronic illnesses as a result.
Neuromodulation Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global neuromodulation devices market is segmented based on product type, application, end-user, and region. The global neurostimulation devices market was dominated by spinal cord stimulators. The dominance of the pain management segment in the market is primarily due to the established clinical efficacy of neurostimulation devices in treating chronic back pain and the rising prevalence of the illness. The neuromodulation market size in North America was at its highest level, and the region's dominance is mostly attributable to its patients' higher rates of diagnosis and treatment as well as their greater use of neuromodulation devices to treat chronic illnesses.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 5.13 billion |
| Market size value in 2031 | USD 10.87 billion |
| Growth Rate | 8.7% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Neuromodulation Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Neuromodulation Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Neuromodulation Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Neuromodulation Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Neuromodulation Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Neuromodulation Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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