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Neuromodulation Devices Market Size, Share Global Analysis Report, 2020–2026

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Neuromodulation Devices Market By Technology (Internal Neuromodulation (Deep Brain Stimulation, Sacral Nerve Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation, and Others), and External Neuromodulation), By Application (Chronic Pain Management, Failed back syndrome, Epilepsy, Tremor, Incontinence, Depression, Dystonia, Gastroparesis, Parkinsons disease, Obsessive-Compulsive Disorder, Migraine), and By Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, and Ceramic Biomaterials): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026

Industry Insights

[162+ Pages Report] According to the report published by Facts Factors, the global neuromodulation devices market size was worth around USD 5.3 billion in 2019 and is predicted to grow to around USD 9.5 billion by 2026 with a compound annual growth rate (CAGR) of roughly 8.6% between 2020 and 2026. The report analyzes the global neuromodulation devices market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the neuromodulation devices market.

Neuromodulation Devices Market

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The neuromodulation devices market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire neuromodulation devices market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of both volume (Units) and value (USD Million) from FY 2016 – 2026.


logoKey Insights from Primary Research

  • According to the primary CXOs of the global neuromodulation devices market, the market is estimated to witness a substantial growth of nearly 9.5% over the forecast period.
  • The market was valued at USD 4 billion, in 2019 and is expected to be valued at over USD 9 billion.
  • By product type segmentation analysis, the spinal cord stimulator headed the market in 2019 and it is expected to grow over the forecast period attributed to rising chronic back pain and increasing focus towards neuromodulation techniques by a healthcare providers.
  • On the basis of type segmentation analysis, the invasive category dominated the market in 2019.
  • By geography, in 2019, North America dominated the market due to the high adoption of neuromodulation devices for chronic conditions treatment.

logoKey Recommendations from Analysts

  • Our analysts recommend that the Asia Pacific region will dominate the global market for neuromodulation devices owing to growing awareness about healthcare, increasing per capita income, and healthcare expenditure.  
  • Europe is anticipated to boost the market for neuromodulation devices owing to the increasing number of regional players and improving diagnostics treatments,
  • Due to the increasing increasing prevalence of chronic back pain, the pain management category is projected to boost the market.
  • The hospital category is expected to boost the market owing to the growing number of patients suffering from chronicle diseases.
  • Owing to the increasing demand for neuromodulation devices, and new inventions in neuromodulation technology may create numerous opportunities in the market over the forecast period.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the neuromodulation devices industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the neuromodulation devices industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the neuromodulation devices market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the neuromodulation devices industry. The neuromodulation devices market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the Neuromodulation Devices sector. Key strategic developments in the neuromodulation devices market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the neuromodulation devices market are appropriately highlighted in the report.

The growth of the neuromodulation devices market is being fueled owing to the increasing incidence of chronic diseases, rising prevalence of neurological disorders, and growing geriatric population. Moreover, ongoing research regarding such diseases has expanded market growth gradually. However, the high-cost involvement in neuromodulation procedures and components, coupled with the lack of trained professionals may curb the growth of the market over the analysis period. Furthermore, the expansion of the market in emerging countries will offer lucrative opportunities to the industry participants operating in the neuromodulation devices market.

The neuromodulation devices market research report delivers an acute valuation and taxonomy of the neuromodulation devices industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.

logoReport Scope

Report Attribute

Details

Market Size in 2019

USD 5.3 Billion

Projected Market Size in 2026

USD 9.5 Billion

CAGR Growth Rate

8.6% CAGR

Base Year

2019

Forecast Years

2020-2026

Key Market Players

Medtronic Plc, Abbott Laboratories, Boston Scientific Corporation, LivaNova Plc, Nevro Corporation, Inspire Medical System Inc., Nuvectra, Neuropace Inc., Bioness Inc., Beijing PINS Medical Co., Ltd., Laborie Medical, Neuronetics, Inc., and Others

Key Segment

By Technology, Application, Biomaterial, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The regional segmentation of the neuromodulation devices industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the neuromodulation devices industry is provided for the leading economies of the world.

The neuromodulation devices market is segmented based on technology, and application. On the basis of technology segmentation, the market is classified into internal neuromodulation and external neuromodulation. Internal neuromodulation has been classified into vagus nerve stimulation (VNS), spinal cord stimulation (SCS), sacral nerve stimulation (SNS), deep brain stimulation (DBS), and Others. Moreover, the application segment in the neuromodulation devices market is bifurcated into chronic pain, movement disorders, psychiatric conditions, gastroenterology & urology, and other applications. Furthermore, biomaterial segmentation has been classified into metallic biomaterials, polymeric biomaterials, and ceramic biomaterials.

logoSome of the essential players operating in the neuromodulation devices market

  • Medtronic Plc
  • Abbott Laboratories
  • Boston Scientific Corporation
  • LivaNova Plc
  • Nevro Corporation
  • Inspire Medical System Inc.
  • Nuvectra
  • Neuropace Inc.
  • Bioness Inc.
  • Beijing PINS Medical Co. Ltd.
  • Laborie Medical
  • Neuronetics Inc.

The taxonomy of the neuromodulation devices industry by its scope and segmentation is as follows:

logo By Technology Segmentation Analysis

  • Internal Neuromodulation
    • Sacral Nerve Stimulation
    • Deep Brain Stimulation
    • Vagus Nerve Stimulation
    • Spinal Cord Stimulation
    • Others
  • External Neuromodulation

logo By Application Segmentation Analysis

  • Chronic Pain Management
  • Failed back syndrome
  • Epilepsy
  • Tremor
  • Incontinence
  • Depression
  • Dystonia
  • Gastroparesis
  • Parkinsons disease
  • Obsessive-Compulsive Disorder
  • Migraine

logo By Biomaterial Segmentation Analysis

  • Metallic Biomaterials
  • Polymeric Biomaterials
  • Ceramic Biomaterials

logo Regional Segmentation Analysis

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

Industry Major Market Players

  • Medtronic Plc
  • Abbott Laboratories
  • Boston Scientific Corporation
  • LivaNova Plc
  • Nevro Corporation
  • Inspire Medical System Inc.
  • Nuvectra
  • Neuropace Inc.
  • Bioness Inc.
  • Beijing PINS Medical Co. Ltd.
  • Laborie Medical
  • Neuronetics Inc.