NEW YORK, March 9, 2023 /PRNewswire/ -- Neuromodulation is the alteration of nerve activity through the delivery of an electric and magnetic stimulus.
Read the full report: https://www.reportlinker.com/p03447813/?utm_source=PRN
Applications for neuromodulation include therapies for a wide range of disorders, as well as a tool for medical and neuroscientific research. It is used as a treatment for unmanageable chronic pain, movement disorders, neurological diseases, gastroenterology, respiratory related diseases and others. The treatment delivered by neuromodulation devices brings about life-changing transformation in patients who fail to get better by traditional approaches. This therapy is based on the natural process of stimulation of nerve cell activity and release of neurotransmitters that regulate nerve activity. Neuromodulation is gaining popularity because these devices have been very successful in the treatment of conditions for which medicines have failed completely or may have unpleasant side effects.
According to IQ4I analysis, the neuromodulation devices global market is expected to reach $9,427.7 million by 2029 growing at a high single digit CAGR from 2022 to 2029. The factors such as increasing prevalence of chronic pain conditions, central nervous system disorders such as Parkinson disease, Alzheimer disease, Multiple sclerosis, Epilepsy and others (According to U.S. Parkinson's U.S. foundation, nearly one million people in the U.S. are living with Parkinson's disease (PD) and this number is expected to rise to 1.2 million by 2030. The prevalence of Parkinson's in the U.K. is a total of about 127,000 people living with the disease, The prevalence of epilepsy is estimated to be 5.0 million people in U.S. in 2022), low approval rate of CNS drugs and favorable reimbursement scenario in major markets are driving the neuromodulation market. The emergence of neuromodulation as add-on therapy, technological innovations in neuromodulation, expansion in emerging markets and the rise in the number of clinical studies performed provides immense opportunities to the neuromodulation market. However, side effects and risks associated with the use, lack of trained professionals, availability of alternative treatments and stringent regulatory guidelines are expected to hamper the market growth.
The neuromodulation global market is segment based on product, application, end – users and geography. Based on the product, the neuromodulation global market is segmented into invasive neuromodulation devices and non-invasive neuromodulation devices. Among these, invasive neuromodulation devices segment accounted for the largest revenue in 2022 and is expected grow at a high single digit CAGR from 2022 to 2029. Invasive neuromodulation segment is further segmented into Spinal Cord Stimulator (SCS), Deep Brain Stimulator (DBS), Sacral Nerve Stimulator (SNS), Vagus Nerve Stimulator (VNS), Hypoglossal Nerve Stimulator (HGNS) and others. Among invasive neuromodulation devices, Spinal cord stimulator (SCS) segment accounted for the largest revenue in 2022 and is expected to grow at a mid single digit CAGR from 2022 to 2029. Hypoglossal Nerve Stimulator segment is the fastest growing segment with the revenue of $XX million in 2022 and is expected grow at a high double digit CAGR from 2022 to 2029. The non-invasive neuromodulation devices market is segmented into Transcutaneous Electrical Nerve Stimulation (TENS), Neuromuscular Electrical Stimulation (NMES) and others. Among non-invasive neuromodulation devices, Transcutaneous Electrical Nerve Stimulator (TENS) segment is the largest and fastest growing segment with the revenue of $XX million in 2022 and is expected grow at a low single digit CAGR from 2022 to 2029.
Based on the application, the neuromodulation devices global market is segmented into Pain Management, Central Nervous System, Gastroenterology and Urology, Obstructive Sleep Apnea (OSA) and other. Among applications, pain management segment accounted for the largest revenue in 2022 and is grow at a mid single digit CAGR from 2022 to 2029. Obstructive Sleep Apnea segment is the fastest growing segment with the revenue of $XX million in 2022 and is expected to grow at a high double digit CAGR from 2022 to 2029.
Pain management is further segmented into chronic pain, failed back surgery syndrome (FBSS) and others. Among pain management, chronic pain segment is the largest and fastest growing segment accounted for the revenue of $XX million in 2022 and is expected to reach $XX million by 2029 growing at a mid single digit CAGR from 2022 to 2029. Central Nervous System is further segmented into Parkinson's disease, Dystonia, Epilepsy and others include Obsessive Compulsive Disorder (OCD), Depression, Stroke, and Mood disorders, Anxiety, Central Sleep Apnea and Multiple Sclerosis. Among Central Nervous System disorders, Parkinson's disease segment accounted for the largest revenue in 2022 and is expected grow at a CAGR mid single digit from 2022 to 2029. Epilepsy segment is the fastest growing segment with the revenue of $XX million in 2022 and is expected grow at a double digit CAGR from 2022 to 2029. Gastroenterology and Urology is further segmented into Gastroparesis, Urinary Incontinence and Faecal Incontinence. Among Gastroenterology and Urology, Urinary Incontinence segment accounted for the largest and fastest growing segment with the revenue of $XX million in 2022 and is expected to reach $XX million by 2029 growing at a mid single digit CAGR from 2022 to 2029.
Based on the end-user, the neuromodulation devices global market is segmented into Hospitals and Ambulatory Surgery Centers, Clinics and Physiotherapy Centers and Others include Home care, Academics and Research Institutes. Among end-user, Hospitals and Ambulatory Surgery Centers is the largest and fastest growing segment with the revenue of $XX million in 2022 and is expected grow at high single digit CAGR from 2022 to 2029.
Based on the region, the neuromodulation devices global market is segmented into North America (U.S. and Rest of North America), Europe (Germany, France, U.K and Rest of Europe), Asia-Pacific (Japan, China, India, and Rest of APAC) and Rest of the world (Brazil, Rest of Latin America and Middle East & others). North America accounted for the largest revenue of $XX million in 2022 and is expected grow at a high single digit CAGR from 2022 to 2029. The factors such as increasing healthcare expenditure, increasing incidence of chronic pain problems, persistently increasing geriatric population with age related CNS disorders parkinson's, alzheimer's, epilepsy and incontinence problems, adoption of neurostimulation devices for the treatment of movement disorders, epilepsy, pain, and depression with rising number of approvals, increasing number of neuromodulation procedures and hospitals, presence of major players, launch of advanced neuromodulation devices by the companies, introduction of remote Neuromodulation Patient-Care Technology to increase the adoption, rising funding for start-up companies for developing unique neuromodulation technologies and presence of dedicated non-profit organization devoted to the advancement of the field of neuromodulation are driving the neuromodulation market in the region.
Asia-Pacific is the fastest growing segment accounted for the revenue of $XX million in 2022 and is expected grow at a double digit CAGR from 2022 to 2029 The factors such as increasing healthcare expenditure, increasing aging population, increasing incidence and prevalence of targeted disease such as Chronic Pain, Parkinson's disease, Alzheimer's disease and incontinence problems, increasing adoption of implantable devices, high acceptance of technological advancements, government initiatives to increase awareness by education campaigns and development of neuromodulation devices and their approval in other markets boosts the growth of neuromodulation market in region.
The neuromodulation devices global market is a highly consolidated market hence all the existing players in this market are involved in developing new and advanced technologies to maintain their market shares. Some of the key players in neuromodulation devices global market include Medtronic Plc (Ireland), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), LivaNova Plc (U.K.), Nevro Corporation (U.S.), Inspire Medical Technologies (U.S.), Bioventus (Bioness Inc) (U.S.), Neuropace Inc. (U.S.), Laborie Medical System Inc. (U.S.), Axonics Inc. (U.S.) and Others.
Read the full report: https://www.reportlinker.com/p03447813/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
![](https://rt.prnewswire.com/rt.gif?NewsItemId=NY35420&Transmission_Id=202303091230PR_NEWS_USPR_____NY35420&DateId=20230309)
Share this article